Judge Dismisses Derivative Suit Against Goodyear

Law360, New York (January 8, 2007, 12:00 AM EST) -- An Ohio judge has decided to toss a derivative suit brought against tire maker Goodyear Tire & Rubber Co., ruling that plaintiffs failed to meet both federal and state pleading standards.

Judge John R. Adams in the U.S. District Court for the Northern District of Ohio ruled that the plaintiffs in the case neither adequately articulated demand futility, nor definitively asserted a private right of action under the Sarbanes-Oxley Act.

Before shareholders can file a suit on behalf of a company, they must first make a...
To view the full article, register now.