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Derivative Suit Foreign Corporations

Farrell Fritz, P.C.

New York’s Long-Arm Statute Thwarts Dismissal In International Shareholder Derivative Action

Farrell Fritz, P.C. on

Undoubtedly, unsuspecting foreign corporations may find themselves having business connections in New York and subject to the jurisdiction of New York courts....more

Allen Matkins

Does California Law Apply To A Derivative Action Brought By Members Of A Foreign LLC?

Allen Matkins on

In a ruling handed down this week, U.S. District Judge Lawrence J. O'Neill addressed whether California law applied to derivative claims apparently brought on behalf of an Oregon entity. I found Judge O'Neill's ruling...more

Allen Matkins

Is Something Missing From This Complaint Against The We Company?

Allen Matkins on

Earlier this week, Kevin M. LaCroix wrote about a lawsuit filed recently against The We Companies, commonly referred to as WeWork. The company has attracted a lot of press attention when in September it withdrew the...more

Allen Matkins

Federal Court Blocks Shareholder Inspection Of Delaware Corporation's Records Pursuant To California Statute

Allen Matkins on

United States District Court Judge Haywood S. Stirling, Jr. yesterday blocked a stockholder's attempt to use California's shareholder inspection statute to gain access to a corporation's "books and records and minutes of...more

Kramer Levin Naftalis & Frankel LLP

New York Appellate Court Ruling Eases Hurdle to Bringing Derivative Suits Against UK Companies in the New York Courts

On Nov. 14, 2018, a New York appellate court held that in a derivative action brought in a New York court against a company incorporated in the United Kingdom, the plaintiff need not comply with U.K. Companies Act § 261(1)...more

Allen Matkins

Plaintiffs File Amended Complaint Against Yahoo! But Is Something Missing?

Allen Matkins on

Last spring, a derivative suit was filed in California Superior Court against certain of current and former directors and officers of Yahoo!, Inc. alleging breach of fiduciary duty in connection with the company's widely...more

Kramer Levin Naftalis & Frankel LLP

Court of Appeals Ruling Eases the Way for Shareholders to Bring Derivative Suits Against Cayman Islands Companies in the New York...

On Nov. 20, 2017, the New York Court of Appeals held that in a derivative action brought in a New York court against a company incorporated in the Cayman Islands, the plaintiff need not comply with Rule 12A of the Cayman...more

Patterson Belknap Webb & Tyler LLP

Preliminary Hurdle for Cayman Derivative Claims Does Not Bar Suit in New York

A shareholder bringing a contested derivative claim in the Cayman Islands must seek leave from the court before proceeding. This litigation prerequisite -- imposed by Rule 12A of the Rules of the Grand Court of the Cayman...more

Allen Matkins

Can Pseudo-Foreign Corporations Exonerate Their Directors?

Allen Matkins on

Corporations Code Section 2115 is not an easy read. Fortunately, California Supreme Court Chief Justice Tani Cantil-Sakauye has provided a more digestible overview of the statute...more

Snell & Wilmer

Impact of Delaware Fee-Shifting Provisions on Derivative Actions in California

Snell & Wilmer on

A recent decision in the Delaware Supreme Court, in conjunction with the broad California exceptions to the internal affairs doctrine, may dictate the legal landscape of shareholder litigation in California in the near...more

Allen Matkins

Unregistered Foreign LLCs – Are They In Violation?

Allen Matkins on

The California Revised Uniform Limited Liability Company Act (RULLCA), which took effect on January 1 of last year, is fraught with drafting mysteries.  Why, for example, did the legislature deem it necessary to change the...more

Sheppard Mullin Richter & Hampton LLP

California Court of Appeal Applies Delaware Law to Deny Discovery in Shareholder Derivative Action

In Jones v. Martinez, 230 Cal. App. 4th 1248 (2014), the California Court of Appeal, Second Division, held that a plaintiff asserting a shareholder derivative action against directors of a Delaware corporation in a California...more

Skadden, Arps, Slate, Meagher & Flom LLP

Inside The Courts - December 2013 | Volume 5 | Issue 4

In This Issue: *U.S. SUPREME COURT: - Halliburton Co. v. Erica P. John Fund, Inc., No. 13-317 (U.S. Nov. 15, 2013) Lawson v. FMR LLC, No. 12-3 (U.S. Nov. 12, 2013) - Chadbourne & Parke LLP v. Troice, No....more

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