Judge: Shareholder Failed To Prove Demand Futility Against Directors, Officers

Judge: Shareholder Failed To Prove Demand Futility Against Directors, Officers

NEW YORK - A federal judge in New York granted a company's directors' and officers' motion to dismiss a shareholder derivative complaint on July 26, finding that the shareholder had failed to show that presuit demand upon the company's board of directors would have been futile (Louisiana Municipal Police Employees' Retirement System, Derivatively on Behalf of Itself, and All Others Similarly Situated v. Dan R. Hesse, et al., No. 12-cv-04017, S.D. N.Y.).

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