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New York Law Journal

Matter of Norvell v. Guchi's Idea LLC

By | December 15, 2016
Purpose, Financial Viability of Restaurant Being Achieved; Dissolution Petition Denied
2 minute read

New York Law Journal

The Business Judgment Rule and Corporate Data Breaches

In their Corporate and Securities Litigation column, Margaret A. Dale and Mark D. Harris examine a case in which a district court in Georgia dismissed one of the first shareholder derivative actions that challenged the adequacy of a corporation's data-breach prevention strategy. They note that while that court held that the business judgment rule shielded the company's actions, it remains to be seen whether that position becomes the majority one.
17 minute read

New York Law Journal

Fakiris v. Gusmar Enterprises, LLC

By | December 08, 2016
Company Found Dysfunctional, No Longer Practicable to Operate; Dissolution Warranted
3 minute read

New York Law Journal

Demand Requirement Under Exchange Act §14(a)

In their Corporate Litigation column, Joseph M. McLaughlin and Yafit Cohn, of Simpson Thacher & Bartlett, examine 'In re The Home Depot, Inc. Shareholder Derivative Litigation', which weighed in on a recurring question regarding the demand requirement on which courts have differed: whether pre-suit demand is required for claims alleging a violation of Section 14(a) of the Securities Exchange Act of 1934. 'Home Depot' is the latest in a series of shareholder derivative actions arising from high-profile data breaches to be dismissed in recent years, with the court holding that Delaware's demand requirement applies equally to Section 14(a) claims.
21 minute read

Delaware Business Court Insider

Strine, in Opinion Reviving Suit Against Zynga, Calls for Caution in Presuming Director Independence

In a decision calling for caution in adhering to the presumption that corporate directors are independent disinterested actors, the Delaware Supreme Court voted Monday 4-1 to revive a derivative suit against the directors of social gaming company Zynga Inc.
14 minute read

Legaltech News

Financial Counsel Prepare for Blockchain Heading Into 2017

As the financial industry speeds toward a blockchain future, industry attorneys are positioning themselves to handle new legal and operational challenges.
13 minute read

The Legal Intelligencer

Feds Seek More Than 17 Years' Jail Time for Fattah

Federal prosecutors want to lock up convicted former Congressman Chaka Fattah for 17-and-a-half to 22 years for racketeering, bribery and other corruption charges, according to a court document.
6 minute read

Delaware Business Court Insider

Billion-Dollar Ponzi Scheme Case Returned to Chancery Court

A Delaware federal judge has sent back to the Delaware Court of Chancery a proposed class and derivative action over an alleged $1 billion "Ponzi-like scheme" at Texas-based limited partnership United Development Funding III, finding that claims for fiduciary breaches, waste and unjust enrichment called for state, and not federal, review.
9 minute read

Delaware Business Court Insider

Glasscock Tosses Derivative Suits Faulting Bank of NY Board

The Delaware Court of Chancery on Wednesday dismissed two derivative suits filed on behalf of the Bank of New York Mellon, which was hit with $1 billion in liability for foreign exchange practices that allegedly duped customers into overpaying for trades.
18 minute read

Corporate Counsel

Trump's Choice of Bharara Sends Message: We'll Bust Corporate Criminals

The decision by President-elect Donald Trump to ask Preet Bharara to stay on as U.S. attorney in Manhattan sends a strong message that the Trump administration is going to be aggressive in prosecuting white-collar crime and corporate misconduct, according to former U.S. Attorney John Wood.
7 minute read

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