Judge: Report Shows Dismissal Of Securities Suit Warranted Under Caremark

Mealey's (May 13, 2016, 12:21 PM EDT) -- WILMINGTON, Del. — A federal judge in Delaware on May 12 accepted a federal magistrate judge’s report and recommendation in a shareholder derivative lawsuit and rejected a shareholder’s objections to the report, ruling that it properly pleads the In re Caremark International Inc. Derivative Litigation “should have known” standard in stating that the shareholder failed to plead demand futility (KBC Asset Management NV v. Kevin J. McNamara, et al., No. 13-1854, D. Del.).

(Memorandum opinion available. Document #57-160516-056R.)

Shareholder KBC Asset Management NV filed the derivative...
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