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Daily Archives: Monday, July 29, 2019

Posted: July 29, 2019

Derivative Action Dismissed for Failure to Make Demand/Adequately Plead Demand Futility

On June 28, 2019, Justice Masley of the New York County Commercial Division issued a decision in Gammel v. Immelt, 2019 NY Slip Op. 32005(U), dismissing a derivative action for failure make a demand or adequately to allege demand futility, explaining: Business Corporation Law ยง 626 sets forth specific procedures that must be followed in... Read more »