Cisco Seeks Dismissal Of Shareholder Derivative Claims In Board Diversity Suit

Mealey's (May 5, 2021, 8:54 AM EDT) -- OAKLAND, Calif. — Technology company Cisco Systems Inc. on April 30 asked a federal judge in California to dismiss shareholder derivative claims against its CEO and board of directors over the lack of African Americans in the company’s senior leadership roles because the board’s decision not to pursue litigation was not wrongful and is entitled to deference under the business judgment rule....