Judge: Investor Failed To Plead Caremark Claim In Shareholder Derivative Suit
(October 29, 2015, 9:12 AM EDT) -- NEW YORK — A federal district court did not err in dismissing a shareholder derivative lawsuit because the shareholder failed to properly plead an In re Caremark International Inc. Derivative Litigation claim “predicated on failed oversight of business risk,” a Second Circuit U.S. Court of Appeals panel ruled Oct. 16 (Wayne County Employers’ Retirement System v. James S. Dimon, et al., No. 14-3245, 2nd Cir.).
(Summary order available. Document #57-151116-001R.)
Investor Wayne County Employers’ Retirement System (WCERS) filed a second amended shareholder derivative complaint in the...