9th Circ. Reinstates Finisar Derivative Case
A three-judge panel reversed a lower court’s dismissal of the complaint brought by the City of Worcester Retirement System and three other Finisar shareholders for failing to allege particularized facts that make demand of the company’s board of directors futile.
“The district court here drew inference in favor of defendants rather than plaintiffs, resolved factual inconsistencies without discovery and analyzed plaintiffs’...
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