Derivative Action Dismissal Affirmed For Failure To Plead Demand Futility

Mealey's (January 2, 2019, 10:56 AM EST) -- SAN FRANCISCO — A Ninth Circuit U.S. Court of Appeals panel on Dec. 26 ruled that an investor failed to plead demand futility in bringing a shareholder derivative lawsuit against current and former senior executives and members of The Walt Disney Co.’s board of directors stemming from the company’s involvement in anti-competitive agreements conspiracy with other animation studios (Eugene F. Towers v. Robert A. Iger, et al., No. 17-15770, 9th Cir., 2018 U.S. App. LEXIS 36461)....