Law360, New York (November 16, 2010, 12:23 PM EST) -- The U.S. District Court for the District of Massachusetts, in In re Smith & Wesson Holding Corp. Derivative Litigation, recently addressed an issue that many securities litigation practitioners face: How long is too long for a special litigation committee to investigate a shareholder’s demand? Perhaps not surprisingly, like most things in the law, it depends.
The chronology of the Smith & Wesson case is important.
On May 28, 2009, and June 5, 2009, two shareholders of Smith & Wesson Holding Corp. issued demand letters requesting...