Nathanson v. Tortoise Capital Advisors

Howard Nathanson, et al. v. Tortoise Capital Advisors, LLC, et al., No. 370, Sept. Term 2024. Opinion by Arthur, J. CORPORATIONS—SHAREHOLDER DERIVATIVE ACTIONS Under Maryland law, before a shareholder may bring a derivative action on behalf of a corporation, the shareholder ordinarily must make a demand upon the board of directors to bring the action. Under a “very limited exception” to this rule, a shareholder may be excused from this requirement if the shareholder can “clearly demonstrate, in a very particular manner,” that “a majority of the directors are so personally and directly…