United States Ninth Circuit

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Rosenbloom v. Pyott, 12-55516

In this derivative action brought by plaintiff-shareholders against defendant-directors of company Allergan, alleging that defendants are liable for violations of various state and federal law as well as for breaches of their fiduciary duties to Allergan, dismissal on the pleadings is reversed, where: 1) though plaintiffs did not first make a demand on defendants requesting that Allergan bring the derivative claims in its own name, their particularized allegations establish a reasonable doubt as to whether defendants face a substantial likelihood of liability and as to whether defendants are protected by the business judgment rule; and 2) accordingly, the demand requirement is excused.

Appellate Information

  • Decided 09/02/2014
  • Published 09/02/2014

Judges

  • Reinhardt

Court

  • United States Ninth Circuit

Counsel


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