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Breach of Duty Third-Party

Proskauer - Regulatory & Compliance

Proskauer Hedge Fund Trading Guide 2024 – Chapter 2: Insider Trading: Focus on Subtle and Complex Issues

Proskauer’s Hedge Fund Trading Guide offers a concise, easy-to-read overview of the trading issues and questions we commonly encounter when advising hedge funds and their managers. It is written not only for lawyers, but also...more

Husch Blackwell LLP

When the Payor is Also the Decisionmaker in ERISA Benefits Lawsuits Under 29 U.S.C. § 1132(a)(1)(B)

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When the same health plan administrator both administers a benefit plan and pays the benefits due under the plan, it is considered by courts to have a structural conflict of interest. That conflict of interest is not...more

Dechert LLP

Delaware Court of Chancery Holds “MFW” Framework Applies to Controller Transaction Despite Substantially Higher Third-Party Offer

Dechert LLP on

MFW protects controlling-stockholder transactions even when a third-party bidder makes a competing bid that is superior to a negotiated merger with the controller. A special committee will likely satisfy the duty of care...more

Winstead PC

Suing Attorneys In Texas For Participating in Fiduciary Breaches

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It is not uncommon for an attorney to execute all or part of his or her client’s wishes, which may be in breach of a fiduciary duty owed by the client to a third party. The third party can certainly sue the client for...more

White and Williams LLP

District of New Jersey Court Clarifies Primary Insurer’s Duty of Good Faith to Excess Insurer

A primary insurer has a duty of good faith to an excess insurer to attempt to negotiate a settlement with a third-party claimant within the primary insurer’s limits. However, determining whether that duty of good faith was...more

Farrell Fritz, P.C.

The Duty to Disclose Third-Party Offers Amidst Buy-Out Negotiations, Revisited

Farrell Fritz, P.C. on

In 2011 and 2012, the New York Court of Appeals decided a series of difficult cases addressing the circumstances under which a contractual waiver or release included in a buyout or other agreement between co-owners of closely...more

Winstead PC

Court Holds That A Plaintiff Can Raise A Conspiracy To Breach Fiduciary Duty Claim Even Where The Party Who Owed Fiduciary Duties...

Winstead PC on

In Klinek v. Luxeyard, Inc., a company sued its majority shareholder in a suit for breach of fiduciary duty arising from a pump-and-dump scheme and later settled that claim. No. 14-17-00899-C, 2019 Tex. App. LEXIS 9421 (Tex....more

Kramer Levin Naftalis & Frankel LLP

Fifth Circuit Affirms Bar Orders in Receivership, Bars Creditors From Pursuing Claims Against Settling Defendants

In a 2-1 opinion dated July 22, 2019, the Fifth Circuit held that third parties who paid a receiver to settle estate claims against them are entitled to an order barring other creditors from suing the settling third parties...more

Latham & Watkins LLP

English High Court Confirms the Scope of Freezing Injunctions in Relation to Third-Party Assets

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Third-party assets controlled (de facto or de jure) by the respondent are ordinarily outside the scope of a freezing injunction unless exceptional circumstances can be established. In the recent case of FM Capital Partners...more

Skadden, Arps, Slate, Meagher & Flom LLP

From the Get-Go: Interpreting MFW’s Ab Initio Requirement

The Delaware Supreme Court’s seminal decision in Kahn v. M&F Worldwide Corporation (MFW) offers a pathway for having challenges to controlling stockholder “squeeze-out” mergers reviewed under the highly deferential business...more

Seyfarth Shaw LLP

Discrimination Class Certified Based On Union’s Job Referral Policies Despite Third-Parties’ Discretion In Hiring

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Seyfarth Synopsis: African American pipefitters filed a class action against their labor union based on its allegedly discriminatory system for referring jobs to union members. Despite the fact that third-party employers...more

Lathrop GPM

Missouri Bank Hit for Punitive Damages & Found Liable for Fiduciary’s Misappropriation of Funds

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In Delarosa v. Farmer's State Bank, the Missouri Court of Appeals, W.D., expounded upon the duty imposed upon Missouri Banks under § 469.270 of the Missouri's Uniform Fiduciaries Law ("UFL"). Specifically, the court addressed...more

Morris James LLP

Supreme Court Clarifies Contours of In Pari Delicto Doctrine

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The Delaware Supreme Court, in a recent order affirming the opinion of the Delaware Court of Chancery, provided clear guidance about when third-party corporate advisers may raise the in pari delicto defense as a shield to...more

Proskauer Rose LLP

The ERISA Litigation Newsletter - October 2015

Proskauer Rose LLP on

Editor's Overview - This month, we review the Second Circuit's ruling in New York State Psychiatric Ass'n, Inc. v. UnitedHealth Grp. wherein the Second Circuit ruled that: (i) a provider association has associational...more

Cozen O'Connor

No Bad Faith Recovery Unless Insured Demonstrates Acts Were A Producing Cause Of Damages

Cozen O'Connor on

A jury found that Mid-Continent committed five separate violations of the Texas Insurance Code and awarded $2 million to the insured as compensation for the amount it paid to settle third-party claims. The trial court,...more

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