News & Analysis as of

Self-Dealing Conflicts of Interest

Smith Anderson

Lawyers May Simultaneously Represent a Corporation and Its Directors Against Derivative Claims That Do Not Allege “Serious...

Smith Anderson on

In a case of first impression in North Carolina, a judge for the North Carolina Business Court was recently asked to decide whether a single law firm may simultaneously represent both a corporation and its individual...more

Fox Rothschild LLP

One Law Firm. Two Clients. Three Times the Complexity.

Fox Rothschild LLP on

Amidst a “bitter family dispute” over future control of a closely held oil company, can the same law firm represent the directors paving the way for their son to take the reins and the company that minority shareholders seek...more

Nilan Johnson Lewis PA

Recommendations for Nonprofits After the Minnesota Attorney General Settlement for Self-Dealing

Nilan Johnson Lewis PA on

A nonprofit recently settled with the Minnesota Attorney General due to conflicts of interest and allegations of self-dealing. While it may be easy to dismiss the settlement as an example of a sham nonprofit obviously...more

Farrell Fritz, P.C.

Managing Members of Realty Holding LLCs Vanquish Self-Dealing Claims

Farrell Fritz, P.C. on

Managing members of manager-managed New York LLCs owe default fiduciary duties of loyalty and care to non-managing members. Those duties can be modified by the operating agreement....more

Rosenberg Martin Greenberg LLP

Avoiding Conflicts of Interest: Lessons Learned from the UMMS-Healthy Holly Scandal

June 2020 marked a critical milepost in Catherine Pugh’s long road to redemption. On June 19, the disgraced former mayor of Baltimore pleaded guilty to a state misdemeanor perjury charge for her failure to disclose her...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

JP Morgan ponies up $9 million

A settlement has been in a lawsuit accusing fiduciaries of the JPMorgan Chase 401(k) Savings Plan of self-dealing. Records show that a settlement of $9 million will be made to “fully, finally and forever resolve, discharge...more

Foley & Lardner LLP

Seventh Circuit Examines Conflict of Interest Issue Relevant to Private Foundations

Foley & Lardner LLP on

The board members or trustees of private foundations frequently serve on the boards of organizations that apply for and receive grants. This may present the possibility of a conflict of interest issue when the foundation...more

Winstead PC

Federal District Court Refuses To Dismiss Aiding And Abetting Breach Of Fiduciary Duty Claim Against A Law Firm

Winstead PC on

In Milligan v. Salamone, the Greenberg Taurig lawfirm represented the bankrupt company when it sued a president and board member. No. 1:18-CV-327-RP, 2019 U.S. Dist. LEXIS 41009 (W.D. Tex. March 14, 2019). Greenberg drafted...more

McGuireWoods LLP

SEC Enforcement Continues to Pursue Hedge Fund Advisers

McGuireWoods LLP on

The SEC continues to pursue enforcement actions against hedge fund managers for alleged self-dealing, undisclosed conflicts of interest, and valuation issues. As we’ve previously reported (here and here), the SEC has stepped...more

Goodwin

Private Foundations: A Brief Overview of Rules and Practical Steps for Grant-Making

Goodwin on

Private Foundation Rules to Remember - Private foundations must follow a variety of rules to avoid the imposition of potentially onerous penalty taxes on the foundation and its related parties...more

Bracewell LLP

Delaware Court Holds Interested Directors Liable for "Fairer Price" In Going Private Transaction

Bracewell LLP on

In one of the largest ever M&A-related recoveries for shareholders, Vice Chancellor J. Travis Laster ordered Dole Food Company, Inc.’s Chairman and CEO, David Murdock, and Dole’s former President, COO and General Counsel, C....more

Locke Lord LLP

Locke Lord QuickStudy: Litigation Threat Means Public Companies Should Review Director Compensation Process

Locke Lord LLP on

Corporate directors are permitted to, and regularly do, set their own compensation. This has not been controversial because boards have typically taken seriously their responsibility to set compensation that is reasonable and...more

Ballard Spahr LLP

New York DFS: Nonbank Servicers Can Expect Increased Scrutiny

Ballard Spahr LLP on

New York's top financial regulator plans to aggressively expand his agency’s investigation into nonbank servicers and the firms' affiliates that provide ancillary services. Speaking at the Mortgage Bankers Association's...more

Jackson Walker

Navigating Fiduciary Duties In Private Company Mergers And Acquisitions

Jackson Walker on

I. Introduction. The conduct of corporate directors and officers is subject to particular scrutiny in the context of business combinations (whether friendly or hostile), executive compensation and other affiliated...more

Pillsbury Winthrop Shaw Pittman LLP

Proposed Reform of New York’s Charities and Nonprofits Laws Would Ease Burdens

On May 14, 2013, New York State Attorney General Schneiderman joined with the New York Senate and Assembly Committee Chairs to propose legislative reforms to New York’s charities and nonprofits laws. If the reforms are...more

15 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide