Judge: Investor In Derivative Suit Properly Pleaded Demand Futility

(December 21, 2015, 1:24 PM EST) -- SAN JOSE, Calif. — Dismissal of a consolidated complaint in a shareholder derivative lawsuit is not proper, a federal judge in California ruled Nov. 16, because an investor has properly shown that demand on a company’s board of directors was futile (In re Intuitive Surgical Shareholder Derivative Litigation, No. 14-0515, N.D. Calif.).

(Order available. Document #57-151214-001R.)

Lead plaintiff Robert Berg filed a consolidated shareholder derivative complaint in the U.S. District Court for the Northern District of California. He alleged that Intuitive Surgical Inc. CEO Gary Guthart,...
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