SAIC Derivative Suit Properly Dismissed, 2nd Circ. Rules

Law360, New York (January 30, 2014, 3:50 PM EST) -- The Second Circuit on Thursday upheld a lower court's dismissal of a derivative securities class action accusing Science Applications International Corp. directors of ignoring signs of wrongdoing that led to a $500 million settlement with the DOJ over a bribery and kickback scheme in the company's contracted CityTime program.

In a summary order, the appellate court affirmed a district court’s June 2013 ruling that the plaintiff in a derivative securities action against SAIC did not sufficiently plead the futility of a demand on the board of...
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