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State Courts -
Mississippi - May 17 - May 22, 2006
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Speetjens v. Malaco Inc., NO. 2004-CA-01098-SCT,
SUPREME COURT OF MISSISSIPPI, May 18, 2006, Decided
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Overview: A trial court properly dismissed shareholders' derivative suit against a corporation and its directors because, before filing suit, they failed to make a written demand on the corporation to take suitable action, as required by Miss. Code Ann. § 79-4-7.42. Section 79-4-7.42, which was unambiguous, did not contain an exception for futility.
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