IN RE WENDY'S CO. SHAREHOLDER DERIVATIVE ACTION

No. 21-3975.

44 F.4th 527 (2022)

IN RE: The WENDY'S COMPANY SHAREHOLDER DERIVATIVE ACTION. James Graham, derivatively on behalf of The Wendy's Company, Plaintiff-Appellee, Thomas Caracci, derivatively on behalf of The Wendy's Company, Plaintiff-Appellant, v. Nelson Peltz; Peter W. May; Emil J. Brolick; Clive Chajet; Edward P. Garden; Janet Hill; Joseph A. Levato; J. Randolph Lewis; Peter H. Rothschild; David E. Schwab, II; Roland C. Smith; Raymond S. Troubh; Jack G. Wasserman; Michelle J. Mathews-Spradlin; Dennis M. Kass; Matthew Peltz; Todd A. Penegor; Robert D. Wright; The Wendy's Company, Defendants-Appellees.

United States Court of Appeals, Sixth Circuit.

Decided and Filed: August 11, 2022.


Attorney(s) appearing for the Case

ARGUED: Roger A. Sachar , NEWMAN FERRARA LLP, New York, New York, for Appellant. Stuart J. Guber , EVANGELISTA WORLEY LLC, Atlanta, Georgia, for Appellee James Graham. Cara Peterman , ALSTON & BIRD, Atlanta, Georgia, for Appellees Nelson Peltz, et al. ON BRIEF: Roger A. Sachar , NEWMAN FERRARA LLP, New York, New York, Melinda A. Nicholson , KAHN SWICK & FOTI, LLC, New Orleans, Louisiana, for Appellant. Stuart J. Guber , EVANGELISTA WORLEY LLC, Atlanta, Georgia, Nina M. Varindani , FARUQI & FARUQI, LLP, New York, New York, Richard S. Wayne , William K. Flynn , STRAUSS TROY, Cincinnati, Ohio, for Appellee James Graham. Cara Peterman , John L. Latham , Courtney Quirós , Evan N. Glustrom , ALSTON & BIRD, Atlanta, Georgia, Eric K. Combs , DINSMORE & SHOHL LLP, Cincinnati, Ohio, for Appellees Nelson Peltz, et al.

Before: WHITE, BUSH, and READLER, Circuit Judges.


OPINION

Hackers compromised customer-payment information at several Wendy's franchisee restaurants. That difficulty for Wendy's and its franchisees soon became a difficulty for the company's directors and officers, when a number of shareholders took legal action against Wendy's directors and officers on...

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