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City of Birmingham Ret. and Relief System v. Good
Citation:177 A.3d 47 (Del. 2017)
A stormwater pipe ruptured beneath a coal ash pond at Duke Energy Corporation’s Dan River Stream Station in North Carolina. In May 2015, Duke Energy pled guilty to nine misdemeanor criminal violations of the Federal Clean Water Act. The plaintiffs, stockholders of Duke Energy, filed a derivative suit against certain of Duke Energy’s directors and officers. They sought to hold the directors personally liable for the damages the Company suffered from the spill. The directors moved to dismiss the shareholders’ complaint, claiming that the plaintiffs did not allege the particularized facts to show that the directors faced a substantial likelihood of personal liability.
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