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IN THE MATTER OF COMVERSE TECH., INC.

56 A.D.3d 49 (2008)

866 N.Y.S.2d 10

In the Matter of COMVERSE TECH., INC. DERIVATIVE LITIGATION. LEONARD SOLLINGS, et al., Appellants, v. COMVERSE TECHNOLOGY, INC., Respondent, et al., Defendants.

Appellate Division of the Supreme Court of the State of New York, First Department.

October 7, 2008.

Attorney(s) appearing for the Case

Milberg LLP, New York City (Benjamin Y. Kaufman, Neil A. Fraser and Todd L. Kammerman of counsel), and Schiffrin Barroway Topaz & Kessler, LLP, Radnor, Pennsylvania (Eric Zagar of counsel), for appellants.

Dickstein Shapiro LLP, New York City (Howard Schiffman of counsel), and Dickstein Shapiro LLP, Washington, D.C. (Eric A. Bensky of counsel), for respondent.

NARDELLI, BUCKLEY and CATTERSON, concur.

OPINION OF THE COURT

SAXE, J.

This appeal involves the concept of demand futility in the context of shareholder derivative litigation. Specifically, the question presented is whether appointment by a board of directors of a special committee to inquire into the challenged conduct by directors and take whatever steps it deemed necessary to rectify the problem, and whether the actions taken by the committee establish as a matter of law that before this litigation...

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