This past summer, in a decision that attracted little attention, Vice Chancellor David in the Delaware Court of Chancery tossed Joel B. Ritchie v. G. Leonard Baker et al., a shareholder derivative suit filed on behalf of Corcept Therapeutics, Inc. against certain directors for alleged breaches of fiduciary duty related to off-label marketing practices. The Court dismissed the complaint under Court of Chancery Rule 23.1 because Plaintiff, who had not made a pre-litigation demand, failed to plead that the Board was unable to bring its business judgment to bear on assessing such a demand and, as such, the demand was not futile.
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