United States Second Circuit

In a dispute arising from the renegotiation of investment-advisory agreements and pursuant to the Investment Company Act, 15 U.S.C. sections 80a-15(a) and 80a-20(a), and a claim for breach of fiduciary duty, judgment of the district court dismissing complaint is affirmed in part and vacated in part because response to certified question by Supreme Judcial Court does not alter pre-certification analysis, and where under Massachusetts law, a defendant in a derivative suit may employ the business judgment rule to dismiss a shareholder complaint that is filed prior to a corporation's rejection of the demand that serves as the basis for the suit.

Appellate Information

• Decided 05/06/2011
• Published 05/06/2011

Judges

• SACK

Court

• United States Second Circuit

Counsel