Mealey's Securities/D&O Liability - Company Says Shareholder Uses Same Arguments That Already Failed In State Court

Mealey's Securities/D&O Liability - Company Says Shareholder Uses Same Arguments That Already Failed In State Court

LAS VEGAS - A company, joined by certain of the company's directors and officers, told a federal court in Nevada on March 20 that a shareholder derivative lawsuit should be dismissed because a state court found that the same claims and arguments failed to show that presuit demand upon the company's board of directors would have been futile (Mario Guerrero v. James J. Murren, et al., No. 09-cv-01815, D. Nev.).

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