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Stein v. Blankfein
Publication Date: 2019-06-12
Practice Area: Corporate Governance
Industry: Investments and Investment Advisory
Court: Court of Chancery
Judge: Vice Chancellor Glasscock
Attorneys:
For plaintiff: Bruce E. Farnan, Michael J. Farnan and Rosemary J. Piergiovanni, Farnan LLP, Wilmington, DE; A. Arnold Gershon and Mi-chael A. Toomey, Barrack, Rodos & Bacine, New York, NY for plaintiff.
For defendant: Kevin G. Abrams, J. Peter Shindel, Jr. and Matthew L. Miller, Abrams & Bayliss LLP, Wilmington, DE; Robert J. Guiffra, Jr. and David M.J. Rein, Sullivan & Cromwell LLP, New York, NY for director defendants. Gregory V. Varallo, Kevin M. Gallagher and Robert L. Burns, Richards, Layton & Finger, P.A., Wilmington, DE for The Goldman Sachs Group, Inc.
Case number: D68597

The entire fairness standard of review applied to the question of director self-compensation.

June 03, 2019 | Delaware Business Court Insider

Del. Chancery Court Green-Lights Derivative Lawsuit Targeting Director Pay

The suit, from Goldman investor Shiva Stein, alleged that the Goldman board for years had set its pay at nearly twice the rate of that provided by similarly situated competitors, who either equaled or outperformed the New York-based investment bank.
3 minute read
April 22, 2019 | Litigation Daily

Dozens of Plaintiffs Lawyers Vie to Lead Data Breach Case Against Marriott

Victims' lawyers cited diversity and experience in data breach cases in submitting applications for leadership roles. None said they used third party litigation funding—one of several disclosures required by U.S. District Judge Paul Grimm in Maryland.
6 minute read
April 22, 2019 | Law.com

Dozens of Lawyers Vie to Lead Data Breach Case Against Marriott

Victims' lawyers cited diversity and experience in data breach cases in submitting applications for leadership roles. None said they used third party litigation funding—one of several disclosures required by U.S. District Judge Paul Grimm in Maryland.
6 minute read
March 07, 2019 | Delaware Business Court Insider

CBS Investor Sues for Access to Report, Docs Related to Moonves Ouster

The lawsuit, filed Wednesday in Delaware Chancery Court, alleged it was "common knowledge" among board members that Moonves had committed repeated acts of sexual misconduct "before and throughout" his tenure as chief executive.
4 minute read
January 29, 2019 | Delaware Business Court Insider

Ford Investor Sues for Access to Records on Employee Harassment Allegations

The books-and-records suit, filed Monday afternoon in Delaware Chancery Court, alleged that Ford and its directors had failed to provide information related to allegations from Ford employees, which resulted in two multimillion settlements, including a $10.1 million payout in 2017 to resolve claims by women and black employees at its two Chicago plants.
3 minute read
January 24, 2019 | New York Law Journal

Pauley Rips Investment Firm's Tardy Bid to Secure Slice of BofA Settlement

The federal judge took Gaia Holdings to task for its late attempts to get a slice of the multimillion dollar settlement of Bank of America's actions ahead of the burst of the housing bubble.
4 minute read
SCF Consulting, LLC v. Barrack, Rodos & Bacine
Publication Date: 2018-01-23
Practice Area: Contracts | Fee Disputes
Industry: Investments and Investment Advisory | Legal Services
Court: Supreme Court
Judge: Justice Saylor
Attorneys:
For plaintiff:
For defendant:
Case number: 18-0073

Superior court erred in upholding the lower courts decision on the unenforceability of appellant non-attorneys fee splitting agreement with appellee attorneys because the action was not per se barred by the violation of rule 5.4 of the rules of professional responsibility since the conduct rules ought not be interposed into substantive law. Reversed.

January 22, 2018 | New Jersey Law Journal

Tackle Fee-Sharing Gray Areas Now, Before the Next Test Case

The time has come to abandon a one-size-fits-all approach.
5 minute read
City of Birmingham Ret. And Relief Sys. v. Good
Publication Date: 2018-01-03
Practice Area: Corporate Entities | Corporate Governance
Industry: Energy | State and Local Government
Court: Delaware Supreme Court
Judge: Justice Seitz
Attorneys:
For plaintiff: Martin S. Lessner, Kathaleen St. J. McCormick, Nicholas J. Rohrer, and Meryem Y. Dede, Young Conaway Stargatt & Taylor LLP, Wilmington, DE; Robert A. Hoffman, Jeffrey W. Golan, and Julie B. Palley, Barrack, Rodos & Bacine, Philadelphia, PA; Felipe J. Arroyo, Shane P. Sanders, and Gina Stassi, Robbins Arroyo LLP, San Diego, CA; Judith S. Scolnick, Donald. A. Broggi, and Thomas. L. Laughlin, Scott+Scott, Attorneys at Law, LLP, New York, NY; Peter B. Andrews and Craig J. Springer, Andrews & Springer LLC, Wilmington, DE; Alfred G. Yates, Law Offices of Alfred G.Yats, Jr., Pittsburgh, PA, attorneys for appellants
For defendant: Kenneth J. Nachbar, Susan W. Waesco, and Alexandra M. Cumings, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Jack B. Jacobs, Sidley Austin LLP, Wilmington, DE; Steven M. Bierman, Andrew W. Stern, and Elizabeth A. Espinosa, Sidley Austin LLP, New York, NY, attorneys for appellees.
Case number: D67990

Derivative complaint properly dismissed for failure to make litigation demand where stockholders allegations only established exculpated claim for directors bad faith, rather than personal liability for companys environmental violations.

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