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DREILING v. AMERICA ONLINE INC.

No. 08-35095.

578 F.3d 995 (2009)

Thomas R. DREILING, a shareholder of Infospace, Inc., Plaintiff-Appellant, v. AMERICA ONLINE INC; Infospace, Inc., a Delaware corporation, Defendants-Appellees.

United States Court of Appeals, Ninth Circuit.

Filed August 19, 2009.

Attorney(s) appearing for the Case

Richard E. Spoonemore & Stephen J. Sirianni, Seattle, WA, and David M. Simmonds, Redmond, WA, for the plaintiff-appellant.

Dane H. Butswinkas, R. Hackney Wiegmann, Marcie R. Ziegler, Amanda M. McDonald and Kannon K. Shanmugam, Washington, DC, and Michael D. Hunsinger, Seattle, WA, for the defendant-appellee.

Before: KIM McLANE WARDLAW, RICHARD A. PAEZ and N. RANDY SMITH, Circuit Judges.

N.R. SMITH, Circuit Judge:

Thomas R. Dreiling, a former InfoSpace, Inc. ("InfoSpace") shareholder, filed a derivative shareholder action against America Online, Inc. ("AOL"), seeking disgorgement of AOL's profits derived from the sale of its InfoSpace stock. Dreiling based his theory of liability on allegations that Naveen Jain, InfoSpace's CEO, formed a beneficial stock ownership group (in his personal capacity) with AOL, through two AOL executives (in their official...

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