Leyte-Vidal v. Semel

Opinion

ELIA, J.

In this appeal plaintiff Miguel A. Leyte-Vidal challenges an order sustaining a demurrer without leave to amend in his shareholder derivative action against officers and directors of Yahoo! Inc., a publicly traded company incorporated in Delaware and headquartered in Sunnyvale. Plaintiff contends that he adequately pleaded facts excusing the presuit requirement of a demand on the board of directors to pursue litigation on the corporation’s behalf. We agree with the superior court, however, that plaintiff failed to allege demand futility with the particularity required under…