California Appeals Court Affirms Dismissal Of Shareholder Derivative Lawsuit

California Appeals Court Affirms Dismissal Of Shareholder Derivative Lawsuit

LOS ANGELES - A California appeals court majority affirmed a lower court decision in a shareholder derivative lawsuit, finding that the shareholders had failed to show sufficient facts excusing presuit demand upon a company's board of directors (Charter Township of Clinton Police and Fire Retirement System, et al. v. Craig L. Martin, et al., No. B241087, 5th Div., 2nd Dist., Calif. App.; 2013 Cal. App. LEXIS 737).

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