Supreme Court of the United States · Official docket →
California State Teachers' Retirement System, et al. v. Aida M. Alvarez, et al.
Paid petition · Supreme Court of Delaware, No. 295, 2016 · judgment January 25, 2018
Before the decision, well below the 4.1% base rate, with no standout signals pointing toward a grant.
Question presented
A shareholder seeking to bring a derivative claim on behalf of a corporation ordinarily must plead with particularity, as a precondition to prosecuting the representative action, that making a demand on the corporation’s board to pursue the claim would be futile. The question presented is: If a court determines that a complaint filed by one shareholder does not plead demand futility with the requisite particularity, does the Due Process Clause and this Court’s decisions in Taylor v. Sturgell, 553 U.S. 880 (2008), and Smith v. Bayer Corp., 564 U.S. 299 (2011), permit binding other shareholders that were not parties to the initial litigation to that decision, thus barring consideration of whether a new complaint filed by those shareholders pleads sufficient allegations to demonstrate that pre-suit demand was futile?
Counsel of record
For petitioner
David C. Frederick
Kellogg, Hansen, Todd, Figel & Frederick, P.L.L.C.
For respondent
Theodore J. Boutrous Jr.
Gibson, Dunn & Crutcher LLP
Proceedings
- Oct 01 2018Petition DENIED.
- Sep 05 2018DISTRIBUTED for Conference of 9/24/2018.
- Sep 05 2018Reply of petitioners California State Teachers' Retirement System, et al. filed. (Distributed)
- Aug 20 2018Brief of respondents Aida M. Alvarez, et al. in opposition filed.
- Jul 23 2018Brief amici curiae of Civil Procedure and Constitutional Law Professors filed.
- Jul 20 2018Brief amicus curiae of The Council of Institutional Investors filed.
- Jul 06 2018Motion to extend the time to file a response from July 23, 2018 to August 22, 2018, submitted to The Clerk.
- Jul 06 2018Motion to extend the time to file a response is granted and the time is extended to and including August 22, 2018
- Jun 21 2018Petition for a writ of certiorari filed. (Response due July 23, 2018)
- Apr 15 2018Application (17A1104) granted by Justice Alito extending the time to file until June 22, 2018.
- Apr 12 2018Application (17A1104) to extend the time to file a petition for a writ of certiorari from April 25, 2018 to June 22, 2018, submitted to Justice Alito.