BioMed Gets Investor's Executive Pay Suit Stamped Out

Law360, New York (March 12, 2012, 8:30 PM EDT) -- A Maryland federal judge on Monday threw out a shareholder’s derivative suit against BioMed Realty Trust Inc. over executive pay, finding he failed to show it would have been futile to demand that the board act on his objections before filing suit.

U.S. District Judge James K. Bredar relied heavily on the Maryland Court of Appeals’ 2001 decision in Werbowsky v. Collomb in his ruling that the fact that the BioMed directors being sued were on the board that approved the compensation plan was not enough...
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