OPKO Health Beats Shareholders’ Board Diversity Allegations

OPKO Health Inc. is free for now of a shareholder derivative suit accusing its leadership of refusing to diversify the company’s board and executive management team, a federal judge in Florida said.

Shareholders say the healthcare company’s leadership misled them about OPKO’s commitment to diversity. But they didn’t make a required pre-suit demand on the board or properly allege that doing so would have been futile, the U.S. District Court for the Southern District of Florida said.

Shareholders can get around the requirement to go to a company’s board before suing if they can show the directors faced a ...