United States District Court For The Northern District Of California Grants Bergeson, LLP’s Motion To Dismiss

On July 31, 2009, the United States District Court for the Northern District of California, Oakland Division, granted the motion to dismiss filed by Bergeson, LLP on behalf of its clients Blue Cross and Blue Shield of Florida, Inc., Blue Cross and Blue Shield of Massachusetts, Inc., Blue Cross and Blue Shield of North Carolina, and Health Care Service Corporation. Plaintiffs had alleged that the majority shareholder, along with various affiliated entities and certain Board members, had managed for their own benefit the company in which Plaintiffs were minority shareholders, thereby causing the value of Plaintiffs’ shares in the company to decline. The Court found that Plaintiffs lacked standing to bring direct claims for breach of fiduciary duty, minority shareholder oppression, and violation of California’s Unfair Competition Law. Daniel J. Bergeson and Caroline McIntyre represented Blue Cross and Blue Shield of Florida, Inc., Blue Cross and Blue Shield of Massachusetts, Inc., Blue Cross and Blue Shield of North Carolina, and Health Care Service Corporation in the action.