Caldwell
City of Pontiac Police and Fire Retirement System v. Caldwell
Opinion
Trial Court Opinion
UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF CALIFORNIA
SAN JOSE DIVISION
CITY OF PONTIAC POLICE AND FIRE Case No. 20-CV-06794-LHK
RETIREMENT SYSTEM,
ORDER GRANTING MOTION TO
Plaintiff,
DISMISS
14 v. Re: Dkt. No. 25 15 JOHN E. CALDWELL, et al., 16 Defendants. 17 Plaintiff City of Pontiac Police and Fire Retirement System brings this shareholder derivative suit against Advanced Micro Devices, Inc.’s Board of Directors (“the Board” or “Defendants”). Before the Court is the Board’s motion to dismiss pursuant to Federal Rule of Civil Procedure 23.1, which requires derivative plaintiffs to plead demand futility with particularity. ECF No. 25 (“motion to dismiss” or “MTD”). Having considered the parties’ briefing, the relevant law, and the record in this case, the Court GRANTS the Board’s motion to dismiss with leave to amend as to the theories of demand futility that Plaintiff has not abandoned. I. BACKGROUND A. Factual Background Plaintiff City of Pontiac Police and Fire Retirement System is a shareholder of Advanced 1 …