In Re ITT Derivative Litigation

SHEPARD, Chief Justice.

In 1986, the Indiana General Assembly adopted a new framework for business corporations. Broadly put, this case turns on whether that framework largely relies on business judgments by corporate directors in deciding whether a company should pursue certain claims it might have, or instead looks favorably to derivative suits initiated by individual stockholders. 'We conclude that the statute's text, its history, and our caselaw militate in favor of the former.

In particular, the U.S. District Court for the Southern District of New York has asked us about the standards to…