In Kokocinski v. Collins, 850 F.3d 354 (8th Cir. 2017), the Eighth Circuit Court of Appeals affirmed the dismissal of Charlotte Kokocinski’s (“Plaintiff”) shareholder derivative action against Medtronic’s directors and officers (“Defendants”) and the Special Litigation Committee formed by Medtronic (“SLC”). The court held that the District Court did not abuse its discretion because Defendants properly formed the SLC, the SLC was entitled to discretion under the Business Judgment Rule (“BJR”), and the District Court exercised sound discretion in concluding discovery was not necessary.

Read More