Securities
Apr. 1, 2026
Extreme board says investors failed to clear derivative suit bar
Extreme Networks' board urged a federal judge to dismiss a shareholder derivative suit, arguing investors failed to plead particularized facts showing board participation in fraud or insider trading.
Plaintiffs in a derivative lawsuit against the board of Extreme Networks Inc. failed to meet the heightened standard required for shareholders to sue on behalf of a company against its own board, attorneys for the company's board argued before U.S. District Judge Trina L. Thompson on Tuesday.
Latham & Watkins partner Morgan E. Whitworth urged Thompson to dismiss a derivative lawsuit brought by investors in the cloud infrastructure company over allegations its board members...
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