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In re: TrueCar, Inc. Stockholder Derivative Litig.

Publication Date: 2020-10-14
Practice Area: Corporate Governance
Industry: Automotive | E-Commerce | Investments and Investment Advisory
Court: Court of Chancery
Judge: Chancellor Bouchard
Attorneys: For plaintiff: Thomas A. Uebler, Jeremy J. Riley, McCollom D’emilio Smith Uebler LLC, Wilmington, DE; P. Bradford deLeeuw, Deleeuw Law LLC, Wilmington, DE; Melinda A. Nicholson, Nicolas Kravitz, Eda Ayrim Walker, Kahn Swick & Foti, LLC, New Orleans, LA; Ashley R. Rifkin, Steven R. Wedeking, Robbins LLP, San Diego, CA; Jeffrey S. Abraham, Michael J. Klein, Abraham, Fruchter & Twersky, LLP, New York, NY for plaintiffs.
for defendant: Shannon E. German, Wilson Sonsini Goodrich & Rosati, P.C., Wilmington, DE; Jerome F. Birn, Jr., Catherine Moreno, Wilson Sonsini Goodrich & Rosati, P.C., Palo Alto, CA; Gregory P. Williams, Brock E. Czeschin, Kevin M. Regan, Richards, Layton & Finger, P.A., Wilmington, DE; Albert H. Manwaring, IV, Albert J. Carroll, Morris James LLP, Wilmington, DE; Brian Michael Lutz, Michael J. Kahn, Gibson, Dunn & Crutcher LLP, San Francisco, CA; Jon E. Abramczyk, Ryan D. Stottmann, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Jon E. Abramczyk, Ryan D. Stottmann, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Ralph C. Ferrara, Ann M. Ashton, Proskauer Rose LLP, Washington, DC; Julia D. Alonzo, Proskauer Rose LLP, New York, NY for defendants.
Case Number: D69152

Stockholders' derivative action dismissed for failure to make litigation demand where plaintiffs failed to plead facts showing that directors faced reasonable risk of liability from the derivative action and thus could not impartially consider a litigation demand.

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