The Second Circuit, in Edwards v. Sequoia Fund, Inc., affirmed the dismissal of a claim alleging that a mutual fund breached a contract – its Statement of Additional Information (“SAI”), which forms part of its registration...more
10/9/2019
/ Appeals ,
Breach of Contract ,
Contract Formation ,
Dismissals ,
Investment Company Act of 1940 ,
Mutual Funds ,
Prospectus ,
Registration Statement ,
Shareholder Approval ,
Shareholder Litigation ,
Shareholders ,
Statements of Additional Information (SAIs)
The U.S. Court of Appeals for the Second Circuit, in disagreeing with the Courts of Appeals for the Third and Ninth Circuits, ruled on August 5, 2019 in Oxford University Bank v. Lansuppe Feeder, Inc. that a private right of...more
9/10/2019
/ Appeals ,
Breach of Contract ,
Equitable Relief ,
Failure to Report ,
Investment Company Act of 1940 ,
Investment Funds ,
Investors ,
Junior Lenders ,
Liquidation ,
Mutual Funds ,
Noteholders ,
Private Right of Action ,
Rescission ,
Section 47(b) ,
Senior Investors ,
Split of Authority ,
Summary Judgment ,
Trusts
The recent decision of the Delaware Court of Chancery in Akorn, Inc. v. Fresenius Kabi AG et. al is the first time a Delaware court has found a material adverse effect in the M&A context, and reinforces current Delaware law...more
10/11/2018
/ Acquisitions ,
Breach of Contract ,
Buyers ,
Contract Termination ,
Contract Terms ,
Due Diligence ,
Food and Drug Administration (FDA) ,
Material Adverse Effects ,
Merger Agreements ,
Mergers ,
Pharmaceutical Industry ,
Remedies ,
Representations and Warranties ,
Sellers
In a complete victory for Defendants, on February 23, 2016, a federal district court dismissed with prejudice the final remaining claims in Northstar Financial Advisors, Inc. v. Schwab Investments et. al., which had been...more