In Re PSE & G Shareholder Litigation

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• stating that “when a court decides a defendant’s motion to dismiss a shareholder’s suit for failure to make a demand as required under Rule 4:32-5, the court’s review is generally limited to the pleadings”
• stating that a corporation may move to dismiss a derivative suit based on a special litigation committee's finding that a suit was not in the corporation's best interests
• applying modified business judgment rule in determining whether corporation’s board of directors responded properly in rejecting shareholder’s demand to commence legal action on corporation’s behalf
• “Although the Kasowitz firm needlessly risked creating a conflict by briefly assuming a dual role as the Board’s investigator and litigation counsel, the critical question is whether defendants demonstrated bad faith or acted unreasonably in relying on that firm’s investigation.”

Source: CourtListener parenthetical corpus (CC0).