Legal Opinion
Marx v. Akers
New York Court of Appeals
Decided April 25, 1996PublishedCited by 119 opinions
1Opinion of the Court
OPINION OF THE COURT
Smith, J.
Plaintiff commenced this shareholder derivative action against International Business Machines Corporation (IBM) and IBM’s board of directors without first demanding that the board initiate a lawsuit. The amended complaint (complaint) alleges that the board wasted corporate assets by awarding excessive compensation to IBM’s executives and outside directors. The issues raised on this appeal are whether the Appellate Division abused its discretion by dismissing plaintiff’s complaint for failure to make a demand and whether plaintiff’s complaint fails to state a…
2Cases cited18 opinions
- Kamen v. Kemper Financial Services, Inc.Supreme Court of the United States · 1991
- Aronson v. LewisSupreme Court of Delaware · 1984
- Rales v. Blasband Ex Rel. Easco Hand Tools, Inc.Supreme Court of Delaware · 1993
- Auerbach v. BennettNew York Court of Appeals · 1979
- Grobow v. PerotSupreme Court of Delaware · 1988
13 more not listed; retrieve them via the Exa API.
3Cited by119 opinions
- Werbowsky v. CollombCourt of Appeals of Maryland · 2001
- Alphonse Hotel Corp. v. TranCourt of Appeals for the Second Circuit · 2016
- Hamilton Partners, L.P. v. EnglardCourt of Chancery of Delaware · 2010
- Bansbach v. ZinnNew York Court of Appeals · 2003
- Shoen v. SAC Holding Corp.Nevada Supreme Court · 2006
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