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KORSINSKY v. WINKELREID

650157/09, 1813A, 1813.

143 A.D.3d 427 (2016)

2016 NY Slip Op 06454

38 N.Y.S.3d 190

MICHAEL KORSINSKY, Appellant, v. JON WINKELREID et al., Respondents, and THE GOLDMAN SACHS GROUP, INC., Nominal Defendant-Respondent.

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

Decided October 4, 2016.

In this purported derivative action challenging the valuation of the nominal defendant's compensatory stock options, the motion court properly dismissed the second amended complaint for failure to allege particularized facts evincing the futility of a demand on the nominal defendant's board of directors (see Wood v Baum, 953 A.2d 136, 140 [Del 2008]). The demand futility requirement needed to be measured in terms of the 2013 board...

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