Kenneth Mr. Vercammen was included in the 2020 “Super Lawyers” list published by Thomson Reuters.

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Thursday, July 10, 2008

Carl Johnson, et al. vs. Daniel Glassman, et al.

06-19-08 A-2074-06T2

In this opinion we discuss the requirement that a plaintiff in a shareholder derivative action plead "demand futility," i.e., that because of the corporate board's lack of independence and interest in the transactions at issue, it would have failed to act on the company's behalf if a demand on the board to do so had been made at the time that suit was filed. Although we rely on Delaware law in our decision, we note that New Jersey employs the same standards, albeit in a less well-developed manner.