Judge: Investor Failed To Plead Demand Futility In Shareholder Derivative Suit

Mealey's (June 9, 2017, 2:08 PM EDT) -- DENVER — An investor has failed to plead demand futility in arguing that the board of directors for a Mexican food restaurant chain breached their fiduciary duty in failing to provide the necessary oversight of the company, leading to a massive foodborne illness outbreak, a federal judge in Colorado ruled June 7 in granting the defendants’ motion to dismiss (Sean Gubricky v. Steve Ells, et al., No. 16-2011, D. Colo.)....

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