Shareholder Derivative Claims Against Fifth Third Execs, Directors Dismissed

Mealey's (April 4, 2022, 1:54 PM EDT) -- CHICAGO — A federal judge in Illinois on March 30 ruled that dismissal of shareholder derivative claims brought against certain Fifth Third Bancorp senior executives and members of its board of directors on allegations that the defendants issued misrepresentations and breached their fiduciary duty regarding the company’s cross-selling strategy is warranted because shareholders failed to sufficiently plead demand futility in bringing each of their claims....