Directors Move To Dismiss Shareholder Derivative Suit In Texas Federal Court

Directors Move To Dismiss Shareholder Derivative Suit In Texas Federal Court

HOUSTON - Members of a company's board of directors being sued in a shareholder derivative lawsuit in a June 5 filing in a Texas federal court claim that the allegations against them must fail because they contend that under Texas law, only a company's board may bring suit on behalf of a corporation (Lee Batchelder, derivatively on behalf of Imperial Sugar Company v. John Sheptor, et al., No. 12-cv-01648, S.D. Texas).

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