On March 28th, the Eighth Circuit affirmed the dismissal of a shareholder derivative lawsuit which alleged that the fiduciaries to an investment fund breached their duties by causing the fund to invest in off-shore Internet gambling websites despite knowing that the federal government was aggressively prosecuting off-shore gambling. The Eighth Circuit holds that requiring plaintiff make pre-suit demand upon the fund's board does not frustrate the purposes of the Racketeer Influenced and Corrupt Organizations Act. Moreover, participation by directors in alleged wrongdoing is not sufficient to excuse demand under Maryland law. Gomes v. American Century Companies, Inc.