An FSD Pharma Inc. stockholder's derivative Delaware complaint alleging breaches of fiduciary duty and corporate waste should be dismissed because he failed to first establish standing in Ontario, the Canadian company told Delaware's Court of Chancery Tuesday.
In United Food and Commercial Workers Union v. Zuckerberg, the Delaware Supreme Court adopted a new universal test for assessing a board’s ability to independently assess a shareholder litigation demand, which may close off certain paths for plaintiffs who seek to plead demand futility, say Courtney Worcester and Roger Lane at Holland & Knight.
Judge throws out suit against Tesaro board over $5 1 bln sale reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.