Legal Opinion
Risberg Ex Rel. Aspen Technology, Inc. v. McArdle
District Court, D. Massachusetts
Decided January 4, 2008No. Civil Action 07-10354-RGSPublishedCited by 3 opinions
1Opinion of the Court
MEMORANDUM AND ORDER ON DEFENDANTS’ MOTION TO DISMISS THE VERIFIED SHAREHOLDER DERIVATIVE COMPLAINT
STEARNS, District Judge.
This shareholder derivative suit alleges that a majority of the Board of Directors (Board) of Aspen Technology, Inc. (Aspen), abdicated its fiduciary duty by awarding backdated stock options to Aspen insiders. Defendants move to dismiss the action maintaining that: (1) plaintiff Risberg did not make the required pre-suit demand on the Board or adequately plead “demand futility”; and (2) that an earlier action, Caviness v. Evans, 229 F.R.D. 354 (D.Mass.2005), precludes…
2Cases cited33 opinions
- Bell Atlantic Corp. v. TwomblySupreme Court of the United States · 2007
- Conley v. GibsonSupreme Court of the United States · 1957
- Kamen v. Kemper Financial Services, Inc.Supreme Court of the United States · 1991
- Aronson v. LewisSupreme Court of Delaware · 1984
- Semtek International Inc. v. Lockheed Martin Corp.Supreme Court of the United States · 2001
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3Cited by3 opinions
- Johnston v. BoxMassachusetts Supreme Judicial Court · 2009
- Bader v. AndersonCalifornia Court of Appeal · 2009
- Moitoso v. FMR LLCDistrict Court, D. Massachusetts · 2020