Gomes v. American Century Co., et al

Plaintiff, an investor in the Fund, brought Maryland common-law claims and federal racketeering claims for violations of 18 U.S.C. 1962(c) and (d) against defendants, who were the Fund's fiduciaries. On appeal, plaintiff appealed the dismissal of his derivative claims. Applying Maryland law, the court held that demand was required on all of plaintiff's derivative claims and that the participation by directors in alleged wrongdoing was not sufficient to excuse demand. Therefore, the district court correctly dismissed plaintiff's complaint. View "Gomes v. American Century Co., et al" on Justia Law