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Company's proxy statement was not materially misleading where company was not obligated to state that customers used the company's products to cheat and use of products in that manner was reasonably foreseeable.
Breach of fiduciary duty claims failed where plaintiffs failed to allege facts demonstrating that defendants took actions that were to the company's detriment or that interfered with the board's special committee's negotiations for a self-tender.
Court relied upon extrinsic evidence to understand how person of ordinary skill in the art would construe patent terms in dispute in claim construction.
Appellate Division, Second Department:December 30, 2020
Appellate Division, First Department:December 8, 2020
The court had subject matter jurisdiction over plaintiff's declaratory judgment claims involving certain patents, but not for other patents that had been invalidated by another federal court.
Plaintiffs in this stockholder derivative matter failed to demonstrate demand futility. The court found that demand was not excused, so it granted defendants' motion to dismiss.
The majority of a corporation's board of directors was disinterested in a transaction, so the court properly dismissed this matter due to the stockholder's failure to make a demand on the board prior to filing this litigation.
Appellate Division, First Department: December 3, 2019
Plaintiff in this derivative action failed to demonstrate that demand on the board of directors would have been futile due to the directors' inability to exercise business judgment with regard to the matter.
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