Apple Shareholder's Derivative Suit Rejected Again

Law360, New York (November 23, 2009, 7:38 PM EST) -- A California appeals court has affirmed a state court's decision to toss a shareholder derivative suit brought on behalf of Apple Inc. that challenged a cash performance bonus plan for nondirectors and that was approved by Apple shareholders after the dissemination of an allegedly misleading proxy statement.

A three-judge panel in California's Court of Appeal for the Sixth Appellate District on Monday found that the Santa Clara County Superior Court had not abused its discretion by denying Apple shareholder Lauri Cohen Bader leave to amend after...
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