Will Allergan Botox the Wrinkles Out of Securities Regulation?
Securities Regulation Law Journal, 41 Sec. Reg. L.J. 287 (2013)
19 Pages Posted: 21 May 2016
Date Written: 2013
The article describes how the Delaware Supreme Court dealt with derivative suits concerning the same subject matter that are filed in different jurisdictions. In a case entitled Pyott v. Louisiana Municipal Police Retirement System it deferred on collateral estoppel grounds to an earlier decision by a federal court in California. In doing so, this holding respected litigation in other fora outside of Delaware. I speculate that Delaware’s approach here could result in better results for shareholders who prosecute wrongdoing by corporate insiders.
Keywords: Derivative Suits, Collateral Estoppel, Issue Preclusion, Demand Excused
Suggested Citation: Suggested Citation