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JOHNSON v. HUI

No. C90-1853 DLJ.

752 F.Supp. 909 (1990)

John C. JOHNSON, Jr., on behalf of Himself and Derivately on Behalf of Everex Systems, a Delaware Corporation, Plaintiff, v. Steven L.W. HUI, John A. Lee, Michael C.Y. Wong, Michael G. Everitt, Gregory M. Avis, Raymond Yu, Robert G. Teal, Gabriel T.W. Chan, Gatcombe Corporation N.V., and Aciest Company, Ltd., Defendants, and Everex Systems Inc., a Nominal Defendant.

United States District Court, N.D. California.

November 21, 1990.

Attorney(s) appearing for the Case

William S. Learch, Milberg Weiss Bershad Specthrie & Learch, San Diego, Cal., Eugene A. Spector, John F. Innelli, Eugene A. Spector & Associates, Philadelphia, Pa., for plaintiff.

Norman J. Blears, Vanessa Wells, Heller, Ehrman, White & McAuliffe, Palo Alto, Cal., for defendants.

ORDER

THELTON E. HENDERSON, Chief Judge.

A shareholder has brought a derivative suit against the directors of a corporation for allegedly trading on inside information. The corporation moves to dismiss the complaint for the shareholder's failure to make demand, which the shareholder argues would have been futile.

For the reasons below, the motion to dismiss is denied.

I. BACKGROUND

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