United States DC Circuit
City of Harper Woods' Employees' Ret. Sys. v. Olver, 08-7101
In a shareholder derivative action alleging breaches of fiduciary duties and waste of corporate assets by current and former directors of a corporation, dismissal of the action is affirmed where: 1) pursuant to the District of Columbia's internal affairs doctrine, English law applied; and 2) plaintiff failed to show that its complaint fell outside the rule of Foss v. Harbottle, (1843) 2 Hare 461, 67 E.R. 189, which established that the company, not a shareholder, was the proper plaintiff in a suit seeking redress for wrongs allegedly committed against the company.
Appellate Information
- Decided 12/29/2009
- Published 12/29/2009
Judges
- Before: GINSBURG and HENDERSON, Circuit Judges, and EDWARDS, Senior Circuit Judge.
Court
- United States DC Circuit
Counsel
- For Appellant:
- Eric Alan Isaacson argued the cause for appellant. With him on the briefs were Patrick J. Coughlin, Mark Solomon, and Roger M. Adelman. Jonathan W. Cuneo entered an appearance.
- For Appellees:
- Lawrence Byrne argued the cause for appellees BAE Systems, PLC and the Individual BAESystems PLC appellees. With him on the brief were Mary K. Warren and Sterling P.A. Darling, Jr., Christopher T. Lutz, Eric M. Roth, Adir G. Waldman, and Richard L. Brusca were on the brief for appellees the PNC Financial Services Group, Inc. and the Allbrittons.