A federal appeals court dismissed a derivative lawsuit against the directors of E.I. du Pont de Nemours & Co. that alleged breaches of fiduciary duty related to a patent infringement suit, which resulted in a $1 billion verdict against the Delaware chemical giant in 2012.
The U.S. Court of Appeals for the Third Circuit last week upheld a lower court’s dismissal of the case, ruling that Robert Zomolosky failed to show that making a demand that the board bring its own suit before filing the derivative action was futile.
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