Goodyear directors and officers win dismissal in shareholder derivative lawsuit alleging breaches of fiduciary duty in connection with alleged product defect, related product liability litigation, and regulatory inquiry
Clients Directors of Goodyear Tire & Rubber Company
Jones Day successfully defended current and former directors and officers of The Goodyear Rubber & Tire Company in a shareholder derivative lawsuit. The plaintiff asserted claims for breach of fiduciary duty in connection with an alleged product defect, related long-running product liability litigation, and a regulatory inquiry. The plaintiff asserted that its failure to make a pre-suit demand on the company's board of directors was excused and later sought discovery while the defendants' motion to dismiss was pending. Another shareholder sought to intervene and stay the derivative action in favor of a separate lawsuit seeking inspection of corporate documents. Jones Day moved to dismiss the complaint, sought a protective order against the plaintiff's discovery, and opposed the motion to intervene. The court granted the motion to dismiss, finding that demand was not futile, and denied the other motions as moot.
Steven A. Ettinger Inc. Profit Sharing Plan v. Kramer, et al., Case No. CV-2018-10-4432 (Ohio Comm. Pleas)