Justice Says Shareholder's Arguments Regarding Demand Futility Fail

Justice Says Shareholder's Arguments Regarding Demand Futility Fail

NEW YORK - A New York state court justice granted a group of directors' and officers' motion to dismiss a shareholder derivative suit on Sept. 23 because the shareholder failed to show that presuit demand upon the company's board of directors would have been futile (International Painters and Allied Trades Industry Pension Fund v. Cantor Fitzgerald, L.P., et al., No. 650736/2012, N.Y. Sup., New York Co.).

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