Legal Opinion
Bansbach v. Zinn
New York Court of Appeals
Decided October 30, 2003PublishedCited by 72 opinions
POINTS OF COUNSEL
1Opinion of the Court
OPINION OF THE COURT
Chief Judge Kaye.
This is a shareholder derivative action brought to recover damages allegedly suffered by Besicorp Group Inc., a public company, as a result of illegal conduct by defendant Michael Zinn—its founder, majority stockholder, board chairman, chief executive officer and president. 1 Because a derivative action is brought on the corporation’s behalf, the law generally requires that demand first be made on the board of directors to pursue the claim. Here, plaintiff made no prelitigation demand on the Besicorp board, contending that demand was futile both because…
2Cases cited9 opinions
- Auerbach v. BennettNew York Court of Appeals · 1979
- Marx v. AkersNew York Court of Appeals · 1996
- Barr v. WackmanNew York Court of Appeals · 1975
- Biondi v. Beekman Hill House Apartment Corp.New York Court of Appeals · 2000
- Pinnacle Consultants, Ltd. v. Leucadia National Corp.New York Court of Appeals · 2000
4 more not listed; retrieve them via the Exa API.
3Cited by72 opinions
- In Re Sonus Networks, Inc.Court of Appeals for the First Circuit · 2007
- Ground Zero Museum Workshop v. WilsonDistrict Court, D. Maryland · 2011
- Montauk U.S.A., LLC v. 148 South Emerson Associates LLCCourt of Appeals for the Second Circuit · 2018
- Yudell v. GilbertAppellate Division of the Supreme Court of the State of New York · 2012
- Ziemba v. City of TroyAppellate Division of the Supreme Court of the State of New York · 2006
67 more not listed; retrieve them via the Exa API.