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Board Members Derivative Suit

Farrell Fritz, P.C.

Limo Company Shareholders Can't Hitch a Ride in Derivative Litigation

Farrell Fritz, P.C. on

Closely-held business entities come in all shapes and sizes. By definition, under Partnership Law § 10, it takes “two or more” owners to form a general partnership. But corporations and LLCs have no such impediment, ranging...more

K&L Gates LLP

Delaware Supreme Court Adopts a New "Universal" Test for Establishing Demand Futility Granting Directors Greater Protection...

K&L Gates LLP on

The Supreme Court of Delaware recently adopted a new three-part “universal” test to determine whether pre-suit demand upon a company’s board should be excused as futile. The new test, endorsed by the Court in United Food and...more

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