News & Analysis as of

Mismanagement

Top Ten International Anti-Corruption Developments for March 2017

by Morrison & Foerster LLP on

In order to provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important international anti-corruption developments from the past month, with links to primary...more

Court Of Chancery Holds That Wrong Forward Looking Statement Insufficient To Support Records Inspection

by Morris James LLP on

It is not enough that certain forward-looking statements failed to come true to justify requiring an inspection of corporate records. More evidence of wrongdoing is needed if your inspection is based on a theory of...more

Chris Lazarini Provides Insight on Standards Applied to Pro Se Litigants

by Bass, Berry & Sims PLC on

Bass, Berry & Sims attorney Chris Lazarini provided insight on a case revealing that while less stringent standards are often applied to pro se litigants, courts still should require them to adhere to the procedural rules....more

Arbitrator’s False Credentials Are Sufficient To Vacate Award

In most circumstances, the Federal Arbitration Act requires that the losing party move to vacate an arbitration award within three months. However, the Ninth Circuit recently ruled that the three-month timeline can be...more

$300,000 401(k) Plan Sued* (Note Asterisk)

by Ary Rosenbaum on

A Florida optometry practice with a 401(k) plan with only $300,000 in assets is the latest plan to be sued for 401(k) mismanagement, with a newly filed lawsuit accusing the practice of over-investing in alleged “patent troll”...more

A Compilation of Enforcement and Non-Enforcement Actions

by Foley & Lardner LLP on

Non-Enforcement - SEC Decides Against Mounting an Appeal in Koch Ruling - The July 2015 ruling by the D.C. Circuit Court in Koch v. SEC will apparently not be challenged by the SEC. The Court ruled in that...more

Florida District Court Affirms Bankruptcy Court Bar Order In Favor Of Former Ds & Os

by Carlton Fields on

On September 24, Southern District of Florida District Court Judge James I. Cohn issued an opinion affirming an order approving the settlement of a debtor’s breach of fiduciary duty, corporate waste, and mismanagement claims...more

Pay to Play: Appellate Division Upholds Ruling that Payment is Required to Qualify for Champerty Safe Harbor Provision

In Justinian Capital SPC v. WestLB AG, etc. et al., 2015 N.Y. Slip Op. 04381 (1st Dep’t May 21, 2015), the Appellate Division affirmed the February 25, 2014 decision of the New York County Supreme Court, Commercial Division...more

OIG audit finds RAD risk assessment inadequate

by Ballard Spahr LLP on

The HUD Office of Inspector General (the “OIG”) recently released an audit of the front-end assessment (“FERA”) undertaken for the Rental Assistance Demonstration’s (the “Demonstration”) first, or public housing, component. A...more

Does the Business Judgment Rule Protect Bank Officers and Directors?

by Sherman & Howard L.L.C. on

When a corporation suffers significant losses, or ultimately fails, frustrated shareholders, creditors, or others often try to sue the corporation and/or its officers and directors for losses caused by mismanagement of the...more

Sheer Yoga Pants And Over-Stretched Allegations: Court Refuses To Stretch Allegations Of Corporate Mismanagement Into Federal...

A lack of sweaty models trying on yoga pants may be problematic, but does it give rise to securities fraud? Not in the Southern District of New York. In In re lululemon Securities Litigation, decided on April 18, 2014,...more

New Brazilian Legislation Addresses Bribery By Corporate Entities

by Pepper Hamilton LLP on

Bill Provides Important Incentives for Corporate Compliance Programs - The millions of Brazilians protesting in recent weeks in cities and towns across Brazil have brought important and far-reaching corruption reform...more

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