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CITY OF ROSEVILLE EMPLOYEES' RETIREMENT SYSTEM v. DIMON

16681, 650294/12

135 A.D.3d 566 (2016)

22 N.Y.S.3d 850

2016 NY Slip Op 00290

CITY OF ROSEVILLE EMPLOYEES' RETIREMENT SYSTEM, Derivatively on Behalf of JPMORGAN CHASE & CO., Appellant, v. JAMES DIMON et al., Respondents.

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

Decided January 19, 2016.

The motion court correctly determined that plaintiff failed to adequately plead demand futility based on defendants' lack of disinterest or breach of the duty of loyalty (see Rales v Blasband, 634 A.2d 927, 936 [Del 1993]). The complaint fails to allege particularized facts showing the substantial likelihood of defendants' personal liability as a result of any intentional misconduct, that they consciously failed to implement any sort...

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