Rich ex rel. Fuqi International, Inc. v. Yu Kwai Chong

OPINION

GLASSCOCK, Vice Chancellor.

I. OVERVIEW

The Plaintiff here, a stockholder, made a demand to the Defendant corporation, asking the corporation to prosecute claims against its officers and directors for violating their Caremark duties. The individual Defendants not only failed to respond to the demand over the next two years, but allegedly took actions making a meaningful response to the demand unlikely if not impossible. Under these facts, the Plaintiff may pursue an action on behalf of the *966corporation derivatively, notwithstanding Court of Chancery Rule 23.1.

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This Opinion…