Dismissal Of Derivative Suit Over Union Fund Investments Affirmed

Mealey's (January 25, 2019, 12:23 PM EST) -- NEW YORK — A Second Circuit U.S. Court of Appeals panel on Jan. 17 ruled that a federal district court did not err in dismissing a derivative lawsuit brought by members of the Corrections Officers Benevolent Association Inc. (COBA) against the association’s executive directors, law firm and others because the members failed to show that they have standing to bring their claims (Herman Jiminian, et al. v. Norman Seabrook, et al., No. 18-107, 2nd Cir., 2019 U.S. App. LEXIS 1524)....