Judge Finds That Presuit Demand Is Not Excused In Shareholder Derivative Suit

Judge Finds That Presuit Demand Is Not Excused In Shareholder Derivative Suit

SAN JOSE, Calif. - Finding that a shareholder in a derivative suit against a corporation's directors and officers had not pleaded facts sufficient to prove that demand is excused, a federal judge in California on March 7 granted the corporation's and its directors and officers' motions to dismiss with leave to amend (Laborers' Local No. 231 Pension Fund v. Intersil Corporation, et al., No. 11-cv-04093, N.D. Calif.; 2012 U.S. Dist. LEXIS 30289).

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