Noelle Lee v. Robert Fisher

FOR PUBLICATION

UNITED STATES COURT OF APPEALS

FOR THE NINTH CIRCUIT

NOELLE LEE, derivatively on behalf No. 21-15923 of The Gap, Inc, Plaintiff-Appellant, D.C. No. 3:20-cv-06163-SK v.

ROBERT J. FISHER; SONIA OPINION

SYNGAL; ARTHUR PECK; AMY

BOHUTINSKY; AMY MILES;

ISABELLA D. GOREN; BOB L.

MARTIN; CHRIS O'NEILL;

ELIZABETH A. SMITH; JOHN J.

FISHER; JORGE P. MONTOYA;

MAYO A. SHATTUCK III; TRACY

GARDNER; WILLIAM S. FISHER;

DORIS F. FISHER; THE GAP, INC.,

Nominal Defendant, Defendants-Appellees.

Appeal from the United States District Court for the Northern District of California Sallie Kim, Magistrate Judge, Presiding

Argued and Submitted En Banc December 12, 2022 Pasadena, California

Filed June 1, 2023 Before: Mary H. Murguia, Chief Judge, and Sidney R. Thomas, Sandra S. Ikuta, Jacqueline H. Nguyen, Michelle T. Friedland, Ryan D. Nelson, Bridget S. Bade, Daniel A. Bress, Danielle J. Forrest, Patrick J. Bumatay and Salvador Mendoza, Jr., Circuit Judges.

Opinion by Judge Ikuta; Dissent by Judge S.R. Thomas

SUMMARY*

Securities Exchange Act of 1934

The en banc court affirmed the district court’s judgment dismissing, on…