151869P.pdf   07/22/2016  John Cottrell  v.  Michael Duke
   U.S. Court of Appeals Case No:  15-1869
   U.S. District Court for the Western District of Arkansas - Texarkana   
   [PUBLISHED] [Riley, Author, with Wollman and Murphy, Circuit Judges] 
   Civil case - Shareholders' Actions. In action by shareholders of Wal-Mart 
   against the directors and officers of the corporation accusing them of 
   breaking state and federal law by permitting and covering-up bribery 
   committed by Wal-Mart's Mexican subsidiary, the specific facts alleged in 
   the complaint do not give rise to a reasonable inference that Wal-Mart's 
   board of directors learned of the suspected bribery while the alleged 
   bribery was being covered-up and an internal investigation quashed; the 
   allegations did not, therefore, establish "with particularity" that the 
   threat of personal liability rendered a majority of the Wal-Mart board 
   incapable of fairly considering whether to pursue the corporate causes of 
   action the shareholders seek to enforce in this case, as required by Rule 
   23.1 and Delaware's heightened pleading threshold for derivative suits; as 
   a result, the plaintiffs could not bring this action, and the dismissal of 
   the shareholders' suit is affirmed.