Panel: Investors In Derivative Suit Failed To Plead Demand Futility

Mealey's (February 18, 2016, 11:27 AM EST) -- CHICAGO — A federal district court did not err in dismissing a shareholder derivative lawsuit because investors failed to properly plead demand futility, a Seventh Circuit U.S. Court of Appeals panel ruled Feb. 17 (In re Biglari Holdings Inc. Shareholder Derivative Litigation, No. 15-1828, 7th Cir.).

(Opinion available. Document #57-160321-006Z.)

Investors Chad Taylor and Edward Donohue filed an amended complaint in a shareholder derivative lawsuit in the U.S. District Court for the Southern District of Indiana, naming Biglari Holdings Inc. (BH) founder and CEO Sardar Biglari...
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