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UBS FINANCIAL SERVICES v. UNION DE EMPLEADOS DE MUELLES

Docket No.: 12-1208
Certiorari Granted: 6/24/2013
Decided: August 26, 2013

PartyNames: UBS Financial Services Incorporated of Puerto Rico, et al. v. Union de Empleados de Muelles de Puerto Rico PRSSA Welfare Plan, et al.
Petitioner: UBS Financial Services Incorporated of Puerto Rico, et al.
Respondent: Union de Empleados de Muelles de Puerto Rico PRSSA Welfare Plan, et al.

Court Below: United States Court of Appeals for the First Circuit
Citation: 704 F.3d 155
Supreme Court Docket

UBS Financial Services Incorporated of Puerto Rico, et al.
v.
Union de Empleados de Muelles de Puerto Rico PRSSA Welfare Plan, et al.
Question Presented:

The question presented in this petition is: Should, consistent with the standard of review employed by other Circuit Courts of Appeals, but in direct conflict with the decision below, the United States Court of Appeals for the First Circuit have reviewed for abuse of discretion the District Court's determination, pursuant to Rule 23.1, that the particularized facts alleged in a shareholder derivative complaint were insufficient to excuse a pre-suit demand on the corporation's board of directors?

Holding: DISMISSED Rule 46
Vote: 9-0
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