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Plaintiffs sufficiently pled breach of fiduciary duty claims by alleging that controlling stockholder, who also controlled a majority of the board, was conflicted due to its desire to cash out its investment, which purportedly led it to approve a sale of the company that maximized the controller's return at the expense of the compensation to minority stockholders.
Young Conaway Del. Partner Appointed to AIRA Board of Directors
Young Conaway Stargatt & Taylor announced that Ken J. Enos, bankruptcy and corporate restructuring partner in the firm's Wilmington office, has been appointed to the board of directors of the Association of Insolvency and Restructuring Advisors (AIRA).Transaction authorized by LLC manager solely within her capacity that issued new class of equity in and amending the rights of the new class and existing classes was void as a matter of contract where the LLC's operating agreement expressly granted the right to amend to certain existing classes of members.
Court reversed and remanded denial of unemployment benefits where division of unemployment insurance identified discrepancies in Pandemic Unemployment Assistance recipient's earnings, potentially rendering the board's decision in error as it was based on the incorrect standards.
Motion to amend complaint to assert claims arising out of CT scan denied where the scan was distinct from the other treatments that formed the basis of plaintiffs' complaint, precluding application of the relation back doctrine.
Young Conaway Partner Named to Advisory Board of Center for Corporate Governance
Young Conaway Stargatt & Taylor announced that Tammy L. Mercer, partner in the firm's Wilmington office, has been named to the advisory board of the John L. Weinberg Center for Corporate Governance.Summary judgment on director fiduciary claims denied where the evidence was not so overwhelming for the court to find, as a matter of law, that a majority of directors were independent and thus the board could exercise its business judgment to enter into challenged transactions.
President of company breached duty of loyalty by continuing to provide substantially similar consulting services to third parties in violation of covenant to devote full time to the president position, and by using the company's confidential information to consult for third parties.
Young Conaway Partner to Co-Moderate DSBA Panel
Young Conaway Stargatt & Taylor corporate litigation and counseling partner Lakshmi A. Muthu is scheduled to be co-moderating a webinar panel with Robert W. May of Morrison & Foerster on Monday.Trending Stories
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