Lead Plaintiffs Failed To Plead Demand Futility In Derivative Suit, Panel Rules
(July 15, 2016, 12:00 PM EDT) -- DENVER — A federal district court did not err in granting a motion to dismiss in a shareholder derivative action because the lead plaintiffs failed to plead demand futility, a 10th Circuit U.S. Court of Appeals panel ruled June 20 (In re ZAGG Inc. Shareholder Derivative Litigation, No. 15-4001, 10th Cir.; 2016 U.S. App. LEXIS 11095).
(Opinion available. Document #57-160718-060Z.)
Lead plaintiffs Albert Pikk and Daniel L. Rosenberg filed an amended complaint in the U.S. District Court for the District of Utah on behalf of nominal...