Divided 2nd Circuit Vacates Dismissal Of Claims In Shareholder Derivative Suit

Mealey's (October 3, 2018, 1:49 PM EDT) -- NEW YORK — A divided Second Circuit U.S. Court of Appeals panel on Oct. 2 ruled that a federal district court erred in holding that a plaintiff’s lack of standing in a shareholder derivative lawsuit after the sale of a nominal defendant to a third party deprived the district court of jurisdiction (Terry Klein v. Qlik Technologies Inc., et al., No. 17-3218, 2nd Cir., 2018 U.S. App. LEXIS 27879)....