Appeals Court Upholds Dismissal Of Coca-Cola Suit

Law360, New York (March 17, 2008, 12:00 AM EDT) -- An appeals court has upheld a lower court's dismissal of a derivative lawsuit filed by a shareholder of Coca-Cola Enterprises, saying the shareholder failed to prove that asking the board for changes was futile.

A three-judge panel of the U.S. Court of Appeals for the Eleventh Circuit said Thursday the district court was right to dismiss the suit brought in February 2006 by Doris Staehr on behalf of Coca-Cola Enterprises, or CCE.

Staehr, who owns common stock in CCE, sued certain CCE officers and directors, alleging...
To view the full article, register now.