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CAMPBELL v. WEIHE YU

No. 12 Civ. 3169 (LAK).

25 F.Supp.3d 472 (2014)

John C. CAMPBELL, et al., Derivatively on Behalf of New Energy Systems Group, Plaintiffs, v. WEIHE YU, et al., Defendants, and New Energy Systems Group, Nominal Defendant.

United States District Court, S.D. New York.

Signed June 10, 2014.

Attorney(s) appearing for the Case

Caryn G. Schechtman, Joshua S. Sohn, David V. Sack, Robert D. Weber, DLA Piper U.S. LLP, for Defendants New Energy Systems Group, Weihe Yu, Junfeng Chen, Shuxian Cui, Li Liu, Elan Yaish, Goldman Kurland & Mohidin LLP, Yvonne Zhang and V Trust Accounting and Tax Services.

Joseph P. Guglielmo, Erin G. Comite, Anne L. Box, Scott & Scott LLP, for Plaintiffs.

MEMORANDUM OPINION

Plaintiffs John Campbell, Basil Malouf, and Baseem Malouf bring this shareholder derivative suit on behalf of nominal defendant New Energy Systems Group ("New Energy"). They assert that the officers and directors breached their fiduciary duties by failing to maintain adequate internal...

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