IN RE FITBIT, INC. STOCKHOLDER DERIVATIVE LITIGATION

Consolidated C.A. No. 2017-0402-JRS.

IN RE FITBIT, INC. STOCKHOLDER DERIVATIVE LITIGATION.

Court of Chancery of Delaware.

Decided: December 14, 2018.


Attorney(s) appearing for the Case

Peter B. Andrews, Esquire , Craig J. Springer Esquire , and David M. Sborz Esquire , of Andrews & Springer LLC, Wilmington, Delaware; Jessica Zeldin Esquire , of Rosenthal, Monhait & Goddess, P.A., Wilmington, Delaware; Melinda A. Nicholson Esquire , and Michael R. Robinson Esquire , of Kahn Swick & Foti, LLC, Madisonville, Louisiana; Robert C. Schubert Esquire , of Schubert Jonckheer & Kolbe LLP, San Francisco, California; and Edward F. Haber Esquire , of Shapiro Haber & Urmy LLP, Boston, Massachusetts, Attorneys for Plaintiffs.

Elena C. Norman Esquire , of Young Conaway Stargatt & Taylor, LLP, Wilmington, Delaware and Jordan Eth, Esquire , Anna Erickson White Esquire , and Ryan M. Keats Esquire , of Morrison & Foerster LLP, San Francisco, California, Attorneys for Defendants James Park, Eric N. Friedman, Jonathan D. Callaghan, Steven Murray, Christopher Paisley, William R. Zerella, and Nominal Defendant Fitbit, Inc.


MEMORANDUM OPINION

In this derivative action, stockholders of Fitbit, Inc. (or the "Company") allege that certain members of the Company's Board of Directors (the "Board") and the chief financial officer breached their fiduciary duties by using insider knowledge of a faulty product to profit personally from the...

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