In Gordon v. Gordon, a couple created a revocable trust and named a friend, who provided financial advice, as successor trustee. No. 03-22-00454-CV, 2024 Tex. App. LEXIS 3611 (Tex. App.—Austin May 23, 2024, no pet. history)....more
Matters of law will certainly not always be black and white, however, the Courts have adopted a traditional approach when assessing matters of mismanagement or misconduct by directors in relation to company – if there is...more
Subchapter V of Chapter 11 of the Bankruptcy Code, which turned three earlier this year, created a more streamlined and less expensive Chapter 11 reorganization path for small business debtors. It also created a new position...more
Join Vinson & Elkins securities lawyers to discuss the 13 mistakes that keep us up at night. Topics include missed 8-Ks, CEO tweets, website mismanagement, voting disclosure and counting, registration statement overissuances,...more
In Thole v. U.S. Bank, N.A., 140 S Ct. 1615 (2020), the Supreme Court, in a five to four decision authored by Justice Kavanaugh, held that participants in an ERISA defined benefit pension plan did not have standing under...more
In the past year, environmental, social, and governance (“ESG”) practices have faced heightened scrutiny in the United States from state attorneys general, state and federal legislators, other government officials, and...more
In In the Est. of Lemme, an administratrix of an estate hired her boyfriend to do legal work. No. 07-21-00300-CV, 2022 Tex. App. LEXIS 8829 (Tex. App.—Amarillo December 1, 2022, no pet. history). ...more
The recent and sudden failures of Silicon Valley Bank and Signature Bank, and the threat of other bank failures, have led to intense public focus on what caused these banks to run into trouble, who is to blame, and what...more
Nine months ago, we wrote about a 20% shareholder, Alvin Clayton Fernandes, whose bare bones petition Manhattan Supreme Court Justice Frank P. Nervo found stated sufficient grounds to judicially dissolve a seemingly...more
The United States Environmental Protection Agency (“EPA”) and JACAM Catalyst, LLC (“JACAM”) entered into a January 3rd Expedited Settlement Agreement (“ESA”) addressing alleged violations of the Resource Conservation and...more
The United States Court of Appeals for the Second Circuit, applying New York law, has held that neither of two claims against an insured construction company fell within the scope of coverage under the company’s claims-made...more
The United States continues its investigation into the now bankrupt FTX and its founder, Sam Bankman-Fried. Mr. Bankman-Fried was extradited from his luxurious Bahamas penthouse to the Southern District of New York. Now that...more
The United States District Court for the Northern District of Illinois, applying Illinois law, has held that an insurer had a duty to defend an insured condominium association and its board members against an underlying...more
Report on Research Compliance 19, no. 1 (January, 2022) - During the second half of fiscal year 2021, which ended Sept. 30, the National Science Foundation (NSF) collected more than $2.5 million from six universities and...more
New York's Attorney General is suing to dissolve the National Rifle Association (NRA) based upon what the AG alleges are repeated violations of state laws regulating nonprofit corporations. The Attorney General's amended...more
Report on Research Compliance 18, no. 10 (October, 2021) - A University of Texas at Austin principal investigator (PI) who, in the words of the National Science Foundation Office of Inspector General (OIG), “generally...more
Indiana AG Todd Rokita sued rental property owner Fox Lake AHF, Inc. (“Fox Lake”), a nonprofit, and its rental management company, Aloft Mgt, LLC (“Aloft”), over allegations that they allowed two large apartment complexes...more
On July 16, 2021, the District Court for the Western District of Wisconsin dismissed without prejudice four ERISA claims brought by a former employee alleging mismanagement of Infinity’s defined-contribution 401(k) plan....more
The Third Circuit will review a Pennsylvania district court’s decision to certify a 60,000+ person class in an ERISA fiduciary breach lawsuit claiming mismanagement of a defined contribution plan’s investments and...more
New York AG Letitia James obtained a ruling from the U.S. Bankruptcy Court, Northern District of Texas, denying the National Rifle Association’s (“NRA”) bankruptcy petition... ...more
An unaccepted offer of judgment that contains internal inconsistencies and ambiguities as to its scope is neither enforceable nor supports an award of attorney’s fees under Georgia’s Rule 68. Reversing a trial court’s...more
In late February, the New York Attorney General’s office (“NYAG”) settled with Bitfinex and Tether stemming from charges relating to financial mismanagement. The NYAG alleged that Bitfinex and Tether attempted to cover up...more
The U.S. Court of Appeals for the Second Circuit recently concluded that investment advisor Ruane Cunniff & Goldfarb must face a proposed class action under ERISA Section 502(a)(2) for breach of fiduciary duty relating to its...more
Somewhere in our rough memories of high school science, we should recall the general principle that a gas will always expand to fill a given void. Although the Bankruptcy Code diverges markedly from scientific principles,...more
Rhode Island Federal Court Dismisses Securities Class Action Against CVS Arising From Statements Made After Omnicare Acquisition; SEC Division of Corporation Finance Suggests Companies Issue Additional Disclosures When...more