United States Eleventh Circuit

In a shareholders' derivative action stemming from defendant-corporation's purchase of a debenture held by plaintiff shareholders, which was their corporation's primary asset, judgment for plaintiff is reversed where: 1) any duty to disclose would have been satisfied by disclosure to the corporation's officers or directors; and 2) there was no suggestion that defendant exerted improper control over the company's officers or board of directors, or that defendant conspired with company's agents to deprive company shareholders of material information.

Appellate Information

• Decided 08/02/2010
• Published 08/02/2010

Judges

• R. Lanier Anderson

Court

• United States Eleventh Circuit

Counsel