Bush

City of Pontiac General Employees' Retirement System v. Bush

Good Law
United States District Court, Northern District of CaliforniaJune 24, 20214:20-cv-06651California4,657 words

Opinion

Trial Court Opinion

UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF CALIFORNIA 6 CITY OF PONTIAC GENERAL Case No. 20-cv-06651-JST (TSH)

EMPLOYEES’ RETIREMENT SYSTEM,

8 Plaintiff, DISCOVERY ORDER 9 v. Re: Dkt. No. 62 10 WESLEY G. BUSH, et al., 11 Defendants. 12 The City of Pontiac General Employees’ Retirement System (“Plaintiff”) has filed this shareholder derivative action on behalf of nominal party Cisco Systems, Inc., against its Board of Directors and Chief Executive Officer for breach of fiduciary duty, unjust enrichment and violation of federal securities laws. This lawsuit follows Plaintiff’s August 5, 2020 pre-suit demand on the Cisco Board, which was denied on December 10, 2020, after this lawsuit was filed. In brief, the Complaint alleges that since at least 2015, Defendants publicly misrepresented Cisco’s success as an industry leader in top leadership diversity and as a company that effectively promotes diversity throughout its ranks. The Complaint further alleges that in reality, there is a visible absence of African…

Sign in to read the full opinion

Create a free account to read the complete opinion text, citation history, and good-law status for this case.