Civil Litigation,
Corporate
Feb. 27, 2018
Ruling provides guidance on demand futility
A recent Delaware Supreme Court ruling grapples with due process concerns and demand futility.
Allen L. Lanstra
Litigation Partner
Skadden, Arps, Slate, Meagher & Flom LLP
300 S Grand Ave Ste 3400
Los Angeles , CA 90071
Phone: (213) 687-5513
Fax: (213) 687-5600
Email: alanstra@skadden.com
Allen's diverse practice focuses on complex, high-stakes litigation. From his extensive experience handling high-profile and discreet matters for large institutions, corporate leaders and public figures, Mr. Lanstra has developed a reputation as a tested and trusted counselor during crisis.
The Delaware Supreme Court in California State Teachers' Retirement System v. Alvarez, recently clarified that due process concerns do not prevent the dismissal of a derivative lawsuit on issue preclusion grounds after another stockholder's complaint based on the same allegations is dismissed for failure to establish demand futility. Relying in part on Arduini v. Hart, 774 F.3d 622 (9th Cir. 2014), the court held...
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