Chancery Finds that Would-Be Caremark Plaintiffs Failed to Plead Demand Futility

Bricklayers Pension Fund of W. Pa. v. Brinkley, C.A. No. 2022-1118-MTZ (Del. Ch. July 12, 2024) - In derivative cases where a stockholder-plaintiff has not made a pre-suit demand on the board of directors, demand futility may be established at the pleadings stage by showing, inter alia, that a majority of directors faced a substantial likelihood of liability for the claims, which would be the subject of the litigation demand....
By: Morris James LLP

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