NextEngine Inc. investor Bigfoot Ventures Ltd. can’t bring a shareholder derivative suit against the laser scanner maker’s founder and his new company in the midst of a bitter fight over intellectual property, the Ninth Circuit ruled Friday.
The lower court acted properly in dismissing the case after other shareholders objected to Bigfoot’s suit on grounds that it couldn’t competently and fairly represent their interests, the US Court of Appeals for the Ninth Circuit said.
- Bigfoot sued Mark Knighton and his company, ShapeTools LLC, on behalf of NextEngine, alleging a transfer of NextEngine’s inventory and revenue to ShapeTools wasn’t intended ...
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