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DESAIGOUDAR v. MEYERCORD

No. H023911.

133 Cal.Rptr.2d 408 (2003)

108 Cal.App.4th 173

Aarathi DESAIGOUDAR as Trustee, etc., et al., Plaintiffs and Appellants, v. Wade MEYERCORD et al., Defendants and Respondents.

Court of Appeals of California, Sixth District.

As Modified on Denial of Rehearing May 28, 2003.

Review Denied August 20, 2003.

Attorney(s) appearing for the Case

Archer & Hanson, Richard J. Archer, Jaress & Leong, R. Patrick Jaress, for Plaintiffs/Appellants: Aarathi Desaigoudar, Chan Desaigoudar, as trustees of the Chan Desaigoudar Foundation.

Oppenheimer Wolff & Donnelly, Michael H. Kalkstein, Valerie M. Wagner, Palo Alto, for Defendants/Respondents: Wade Meyercord, Scott Hover-Smoot, Angel Jordan, Jeffrey Kalb, C. Kumar Patel, Stuart Schube, John Sprague, John Trewin.

PREMO, Acting P.J.

In this shareholders' derivative lawsuit, plaintiffs Aarathi and Chan Desaigoudar, as trustees of the Chan Desaigoudar Foundation, allege that eight directors or officers of California Micro Devices Corporation (CMD) wasted corporate assets and breached their fiduciary duties.

The superior court granted a defense motion for summary judgment on the ground that a special litigation committee appointed by the CMD board of directors made a good...

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