Legal Opinion
Cottrell Ex Rel. Wal-Mart Stores, Inc. v. Duke
Court of Appeals for the Eighth Circuit
Decided July 22, 2016No. 15-1869PublishedCited by 13 opinions
1Opinion of the Court
RILEY, Chief Judge.
Owners of shares of Wal-Mart Stores, Inc. (Wal-Mart) sued directors and officers of the corporation, accusing them of breaking state and federal law by permitting and then covering up pervasive bribery committed on behalf of Wal-Mart’s Mexican subsidiary, Wal-Mart de Mexico (Wal-Mex). Because the shareholders sought to enforce rights belonging to Wal-Mart, Federal Rule of Civil Procedure 23.1 required them to explain why they did not first ask the board of directors to cause the corporation to pursue the suit itself. The shareholders claimed it would have been futile to go…
2Cases cited26 opinions
- Kamen v. Kemper Financial Services, Inc.Supreme Court of the United States · 1991
- Aronson v. LewisSupreme Court of Delaware · 1984
- Brehm v. EisnerSupreme Court of Delaware · 2000
- Rales v. Blasband Ex Rel. Easco Hand Tools, Inc.Supreme Court of Delaware · 1993
- In Re Caremark International Inc. Derivative LitigationCourt of Chancery of Delaware · 1996
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3Cited by13 opinions
- California State Teachers' Retirement System v. AlvarezSupreme Court of Delaware · 2018
- City of Cambridge Retirement v. ErsekCourt of Appeals for the Tenth Circuit · 2019
- Carpenters' Pension Fund of IL v. Michael NeidorffCourt of Appeals for the Eighth Circuit · 2022
- In re Wal-Mart Stores, Inc. Delaware Derivative LitigationCourt of Chancery of Delaware · 2017
- Gregory Shepard v. Employers Mutual Casualty CompCourt of Appeals for the Eighth Circuit · 2021
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