K. Tyler O'Connell of Morris James. 'Aronson,' 'Rales' and … 'Zuckerberg': Del. Supreme Court Adopts 3-Part Demand Futility Standard
In affirming the Delaware Court of Chancery's decision, the high court concurred with the court-below's articulation of a new three-part standard to assess whether a derivative plaintiff meets her pleading burden to show that a pre-suit demand upon the board would have been futile.
September 29, 2021 at 09:00 AM
6 minute read
On Sept. 23, the Delaware Supreme Court decided United Food and Commercial Workers Union and Participating Food Industry Employers Tri-State Pension Fund v. Zuckerberg, __ A.3d __, 2021 WL 4344361 (Del. Sept. 23, 2021). In affirming the Delaware Court of Chancery's decision, the high court concurred with the court-below's articulation of a new three-part standard to assess whether a derivative plaintiff meets her pleading burden to show that a pre-suit demand upon the board would have been futile.
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