Claims In Facebook Board Diversity Shareholder Derivative Suit Dismissed

Mealey's (March 24, 2021, 2:24 PM EDT) -- SAN FRANCISCO — An investor failed to sufficiently show that a making of presuit demand on Facebook Inc.’s board of directors would have been futile before bringing her shareholder derivative lawsuit against chairman and CEO Mark Zuckerberg and several senior executives and members of the board of directors over their alleged failure to take necessary steps to properly diversify Facebook’s board and workforce, a federal judge in California ruled March 19 in granting the defendants’ motion to dismiss with leave to amend....