Mealey's Securities/D&O Liability - Shareholders Say Members Of Company's Board Face Liability For Their Actions

Mealey's Securities/D&O Liability - Shareholders Say Members Of Company's Board Face Liability For Their Actions

BOSTON - Two shareholders suing certain of a company's directors and officers for breach of fiduciary duty told a federal court in Massachusetts on May 14 that presuit demand upon the company's board would have been futile because a majority of the board members face a substantial likelihood of liability for their alleged wrongful actions (In re Ariad Pharmaceuticals Derivative Litigation, No. 13-cv-12816, D. Mass.).

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