There were competing state and federal court derivative actions, and the state court complaint was dismissed failure to plead either demand on the corporation’s board of directors or the futility of such a demand. That generated the question in In re Sonus Networks, Inc., 2007 U.S. App. LEXIS 19471 (1st Cir. Aug. 16, 2007), as to whether the state court di ...
There were competing state and federal court derivative actions, and the state court complaint was dismissed failure to plead either demand on the corporation’s board of directors or the futility of such a demand. That generated the question in In…