Keyword Search: Derivative Suits
SJC-10641: JOHN HALEBIAN vs. ELLIOT J. BERV & others
Argument: May 4, 2010
Keywords: Business Judgment Rule - Corporations - Derivative Suits
Question Presented: Whether a shareholder derivative suit must be dismissed if the board of directors determines in good faith after the suit was filed that it is not in the best interests of the corporation.
Facts: The plaintiff, Halebian, is a shareholder in a mutual fund managed by the defendant CitiTrust. CitiTrust had contracts with another Citigroup subsidiary for asset management. In 2005, Citigroup sold the …
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