Panel: Shareholders Failed To Plead Caremark Claim In Madoff Suit
Mealey's (January 8, 2016, 12:03 PM EST) -- NEW YORK — A Second Circuit U.S. Court of Appeals panel on Jan. 6 affirmed a federal district court’s ruling in a shareholder derivative lawsuit, ruling that shareholders have failed to plead their claim under In re Caremark Int’l Inc. Derivative Litigation as required pursuant to Delaware law (Central Laborers Pension Fund, et al. v. James Dimon, et al., No. 14-4516, 2nd Cir.; 2016 U.S. App. LEXIS 48).
(Summary order available. Document #57-160120-053R.)
Shareholders Central Laborers’ Pension Fund and Steamfitters Local 449 Pension Fund filed a...