Monolithic Power Systems and directors defeat derivative claims for breach of fiduciary duty
Clients Monolithic Power Systems, Inc.
Jones Day represented Monolithic Power Systems, Inc. and its directors in the successful defense of derivative claims for breach of fiduciary duty arising out of a negative shareholder vote on the company's "say on pay" proposal. After the court granted the defendants' motion to dismiss the case with leave to amend, the plaintiff voluntarily dismissed the complaint.
Tow v. Bogart, Case No. 1:11 CV 210099 (Sup. Ct. Cal); Iron Workers Local No. 25 Pension Fund v. Bogart, Case NO. CV-11-4604-PSG (U.S. Dist. Ct., N.D. Cal.) (State - Judge Kleinberg; Federal - Magistrate Judge Grewal)