Wood v. Baum

How courts have described this case

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

• holding that the “Board’s execution” of challenged statements was not enough to show sufficient involvement
• holding the assertion “that membership on the Audit Committee is a sufficient basis to infer the requisite scienter ... is contrary to well-settled Delaware law”
• determining that membership on the Audit Committee was not enough evidence to infer knowing involvement in illegal conduct
• explaining that a director’s service on an audit committee was an insufficient basis to infer liability
• holding “that membership on the Audit Committee is a sufficient basis to infer the requisite scienter . . . is contrary to well-settled Delaware law.”
• noting that in the absence of a pre-suit demand “plaintiff must establish demand futility”

Source: CourtListener parenthetical corpus (CC0).