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IRON WORKERS MID-SOUTH PENSION FUND v. DAVIS

Civil No. 13-289 (JRT/JJG).

IRON WORKERS MID-SOUTH PENSION FUND, derivatively on Behalf of U.S. Bancorp, Plaintiff, v. RICHARD K. DAVIS, ANDREW CECERE, PATRICK T. STOKES, O'DELL M. OWENS, JERRY W. LEVIN, VICTORIA BUYNISKI GLUCKMAN, DAVID B. O'MALEY, ARTHUR D. COLLINS, JR., JOEL W. JOHNSON, CRAIG D. SCHNUCK, OLIVIA F. KIRTLEY, DOUGLAS M. BAKER, JR., Y. MARC BELTON, and RICHARD D. REITEN, Defendants, and U.S. BANCORP, a Delaware Corporation, Nominal Defendant.

United States District Court, D. Minnesota.

December 30, 2013.

Attorney(s) appearing for the Case

Julia M. Williams , ROBBINS ARROYO LLP, 600 B Street, Suite 1900, San Diego, CA 92101; and Henry Helgen , ANDERSON, HELGEN, DAVIS & NISSEN, LLC, 333 South Seventh Street, Suite 310, Minneapolis, MN 55402, for plaintiff.

Peter W. Carter and Hugh D. Brown , DORSEY & WHITNEY LLP, 50 South Sixth Street, Suite 1500, Minneapolis, MN 55402, for defendants. Steve W. Gaskins , GASKINS, BENNETT, BIRRELL, SCHUPP, LLP, 333 South Seventh Street, Suite 2900, Minneapolis, MN 55402, for nominal defendant.

MEMORANDUM OPINION AND ORDER GRANTING MOTION TO DISMISS

JOHN R. TUNHEIM, District Judge.

This is a shareholder derivative action brought by Iron Workers Mid-South Pension Fund ("Iron") on behalf of nominal defendant U.S. Bancorp ("US Bank") against several of US Bank's current and former officers and directors.1 US Bank's largest subsidiary, U.S. Bank National Association ("US Bank NA"), served as trustee of several trusts that...

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