Shareholder derivative action dismissed under Rule 12(b)(6)

Shareholder derivative action dismissed under Rule 12(b)(6)

Thomas M. Flanagan, Andy J. Dupre, and Anders F. Holmgren undertook the representation of a corporate officer and director of a real estate holding company. The client had been sued in state court by a disgruntled shareholder who sought hundreds of thousands of dollars in damages. Flanagan Partners promptly removed the case to federal court, successfully petitioned the court to stay burdensome discovery requests served with the petition, and then moved to dismiss the suit under Rule 12(b)(6). The court heard oral argument and thereafter dismissed the plaintiff's claims on the merits, resulting in a complete victory for the client without the exchange of a single document or the taking of a single deposition. The entire engagement lasted about four months.