On May 21, 2019, the Honorable S. James Otero, United States District Court of the Central District of California in Young, et al v. Ault, et al, Case No. 2:18-cv-6587-SJO, denied in large part the motion to dismiss plaintiffs’ first amended complaint sustaining claims under Delaware law for breach of fiduciary duty and unjust enrichment against certain of the company’s officers and/or directors.
Faruqi & Faruqi are leaders in derivative shareholder litigation and have been successfully representing shareholders in derivative litigation for approximately 25 years.
A copy of the Court’s order can be found below. Faruqi & Faruqi attorneys Stuart J. Guber and Alex B. Heller are heading the litigation.