MapleTech, Inc. is a Delaware corporation with a seven-membe…
MapleTech, Inc. is a Delaware corporation with a seven-member board. Three directors are company executives; two others are long-time personal friends of the CEO who co-invested with her in several private ventures; and two are fully independent. Shareholders bring a derivative suit alleging the board wrongfully approved a below-market sale of corporate assets to the CEO’s wholly owned company. The complaint makes no pre-suit demand. How should the court evaluate demand futility?