United States Second Circuit

Dismissal of plaintiff's shareholder derivative action is affirmed where the allegations of the plaintiff's complaint failed to assert facts that would excuse the requirement of Maryland law for pre-suit demand on the board of directors.

Appellate Information

• Argued 06/18/2004
• Decided 08/17/2004
• Published 08/17/2004

Judges

• IRENAS, Senior District Judge., Before:  LEVAL, and B.D. PARKER, Circuit Judges, IRENAS, Senior District Judge .

Court

• United States Second Circuit

Counsel

• For Appellant:
  
• Scott W. Fisher, Garwin, Bronzaft, Gerstein & Fisher, L.P., New York, N.Y. (Joel C. Feffer and Daniella Quitt, Wechsler Harwood LLP, on the brief) for Plaintiffs-Appellants.


• For Appellees:
  
• James N. Benedict, Clifford Chance U.S. LLP, (Mark Holland, Mary K. Dulka, Jennifer Wendy, Sanny B. Hua, Clifford Chance U.S. LLP;  Lori A. Martin, First Vice President and Assistant General Counsel, Merrill Lynch Investment Managers L.P., of counsel), for Defendant-Appellee Fund Asset Management, L.P., Marvin E. Barkin, Trenam, Kemker, Schars, Barkin, Frye, O'Neill & Mullis, P.A., Tampa, FL (Thomas J. Lilly, Jr., O'Donnell, Schwartz, Glanstein & Lilly, Garden City, NJ, on the brief) for Defendant-Appellee Merrill Lynch Focus Twenty Fund, Inc.