9th Circ. Affirms Dismissal Of CSC Derivative Suit

Law360, New York (January 27, 2009, 12:00 AM EST) -- A federal appeals court has affirmed the dismissal of a derivative shareholder suit against Computer Sciences Corp.'s directors over alleged improper options backdating, finding that the plaintiffs failed to plead demand futility.

A three-judge panel of the U.S. Court of Appeals for the Ninth Circuit ruled Friday that a district court did not abuse its discretion when it ruled that the plaintiffs, led by a union representing the company's workers, did not make sufficiently specific allegations that the entire board of directors suffered from a conflict...
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