Legal Opinion
Fagin v. Gilmartin
Court of Appeals for the Third Circuit
Decided December 15, 2005No. 04-3735PublishedCited by 41 opinions
1Opinion of the Court
AMBRO, Circuit Judge.
Plaintiffs in this derivative action allege that the officers and directors of Merck & Co., Inc. and Medco Health Solutions, Inc. violated their fiduciary duties to shareholders and failed to prevent harm to the corporations. Shareholders bringing, on behalf of their corporations, actions derived from alleged wrongs to those entities must make demand on the boards of directors unless to do so would be futile. Claiming demand futility as to Medco’s board and in part as to Merck’s board, plaintiffs made demand on Merck’s board to take action as to certain of their claims.…
2Cases cited22 opinions
- Cohen v. Beneficial Industrial Loan Corp.Supreme Court of the United States · 1949
- Klaxon Co. v. Stentor Electric Manufacturing Co.Supreme Court of the United States · 1941
- Pension Benefit Guaranty Corporation v. White Consolidated Industries, Inc., C/o Ct Corporation Systems Registered AgentCourt of Appeals for the Third Circuit · 1993
- Hanna v. PlumerSupreme Court of the United States · 1965
- Salve Regina College v. RussellSupreme Court of the United States · 1991
17 more not listed; retrieve them via the Exa API.
3Cited by41 opinions
- Rosenau v. Unifund Corp.Court of Appeals for the Third Circuit · 2008
- Halebian v. BervCourt of Appeals for the Second Circuit · 2011
- In Re Asbestos Products Liability Litigation (No. VI)Court of Appeals for the Third Circuit · 2016
- American Casein Co. v. Geiger (In Re Geiger)United States Bankruptcy Court, E.D. Pennsylvania · 2010
- In Re Bear Stearns Companies, Inc. Securities, Derivative, & Erisa LitigationDistrict Court, S.D. New York · 2011
36 more not listed; retrieve them via the Exa API.