Shareholders Say Presuit Demand On Board Of Directors Would Have Been Futile

SAN FRANCISCO - Plaintiffs in a shareholder derivative lawsuit against a company, certain of its directors and officers and its auditor alleged in a California federal court on April 30 that they have given sufficient reason why presuit demand on a company's board of directors would have been futile (In re Diamond Foods, Inc. Derivative Litigation, No. 11-cv-05692, N.D. Calif.).

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