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Derivative Suit Against JDSU's Board Laid To Rest

Law360 (September 3, 2008, 12:00 AM EDT) -- A federal judge threw out a derivative action against certain former and current board members of JDS Uniphase Corp. on Thursday after plaintiffs' counsel failed to convince her that the shareholders had adequately pled their securities fraud claims.

Judge Claudia Wilken of the U.S. District Court for the Northern District of California granted the individual defendants' motion to dismiss the plaintiffs' second amended complaint at a hearing in Oakland, citing the shareholders' failure to adequately allege “demand futility,” which must be sufficiently pled in order for...
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