United States Sixth Circuit

In a shareholder derivative suit, dismissal of plaintiffs' complaint for failing to allege, with adequate particularity, that a demand would be futile, and a denial of their Rule 60(b) Motion for Relief from the Judgment, are affirmed where the district court neither erred in dismissing plaintiffs' complaint nor abused its discretion in denying plaintiffs' motion for relief.

Appellate Information

• Decided 01/07/2008
• Published 01/07/2008

Judges

• Before: MARTIN, BATCHELDER, and CLAY, Circuit Judges.

Court

• United States Sixth Circuit

Counsel

• For Appellees:
  
• ARGUED:  Matthew R. Chasar, Strauss & Troy, Cincinnati, Ohio, for Appellants.  Thomas S. Kilbane, Squire, Sanders & Dempsey, Cleveland, Ohio, for Appellees.   ON BRIEF:  Matthew R. Chasar, Richard S. Wayne, Strauss & Troy, Cincinnati, Ohio, Nadeem Faruqi, Faruqi & Faruqi, New York, New York, Brian J. Robbins, Robbins, Umeda & Fink, San Diego, California, for Appellants.  Thomas S. Kilbane, Steven A. Friedman, Joseph C. Weinstein, Squire, Sanders & Dempsey, Cleveland, Ohio, for Appellees.