2nd Circuit Panel Affirms Lower Court's Dismissal Of Shareholder Derivative Suit

2nd Circuit Panel Affirms Lower Court's Dismissal Of Shareholder Derivative Suit

NEW YORK - Finding that the plaintiff in a shareholder derivative suit failed to show that a director and officer in a company was a member of a group holding shares in the company, a Second Circuit U.S. Court of Appeals panel affirmed a lower court dismissal in an unpublished opinion on March 9 (Donna Ann Gabriele Chechele v. W. Edward Scheetz, No. 11-3889, 2nd Cir.; 2012 U.S. App. LEXIS 4945).

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