Kococinski ex rel. Medtronic, Inc. v. Collins

MEMORANDUM OPINION AND ORDER GRANTING DEFENDANTS’ MOTION TO DISMISS

JOHN R. TUNHEIM, District Judge.

This is a shareholder derivative action brought by Charlotte Kococinski on behalf of nominal party Medtronic, Inc. (“Medtronic”) against many of Medtronic’s current and former directors and officers, alleging that defendants breached fiduciary duties and violated securities laws by failing to prevent and misleadingly concealing Medtronic’s illegal marketing of one of its drugs. Kococinski brought the present action without first making a demand on Medtronic’s current Board of Directors (“Board”)…