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Corporate – Shareholder Derivative Suit – Tort/Negligence -Breach of Fiduciary Duty – Civil Practice – Statute of Limitations – Delaware Law (access required)

Curtis v. Barnet Since the corporation at issue in this shareholder derivative suit is a Delaware corporation, Delaware law controls. Delaware’s three-year statute of limitations on claims for breach of fiduciary duty begins to run at the moment of the wrongful act. In this case, at the very latest, the wrongful act occurred by the end of the second quarter of 2007; therefore, plaintiff’s Oct. 14, 2010 complaint was not timely filed. Defendants’ motion to dismiss is granted.


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