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Motion to Dismiss Aiding and Abetting

Morris James LLP

Court of Chancery Dismisses Aiding And Abetting Fraud Claim Against Corporate Officers And Directors On Grounds That A Corporation...

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Urvan v. AMMO, Inc., Consol. C.A. No. 2023-0470 PRW (Del. Ch. Feb. 27, 2024, corrected Mar. 14, 2024) - It is an axiom of Delaware law that a corporation acts through its human agents. This principle informs the causes of...more

King & Spalding

Aiding and Abetting Breach of Fiduciary Duty Claims Against Lender Survive Motion to Dismiss

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On April 26, 2023, the U.S. Bankruptcy Court for the District of Delaware denied in part and granted in part motions to dismiss a chapter 7 trustee’s breach of fiduciary duty and aiding and abetting claims. The defendants...more

Foley Hoag LLP - White Collar Law &...

In Deciding Tortious Aiding and Abetting Claims, MA Federal Court Finds Routine Provision of Banking Services May Amount to...

On August 31, 2022, in a lengthy order, Judge Timothy Hillman of the U.S. District Court of Massachusetts denied motions to dismiss that were filed by multiple defendant banks (the “Banks”) in an attempt to avoid liability...more

Jones Day

SDNY Issues Two Rulings in Closely Watched Enforcement Action Against Ripple Labs

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The SEC's Enforcement Action Against Ripple - In December 2020, the SEC commenced an enforcement action against Ripple and two of its senior executives alleging that the defendants violated Section 5 of the Securities Act of...more

Goodwin

Delaware Court of Chancery Declines to Dismiss Investment Firm from Stockholder Derivative Suit

Goodwin on

Delaware Court of Chancery Declines to Dismiss Investment Firm from Stockholder Derivative Suit; Delaware Chancery Court Dismisses Majority of Claims Alleging that California Biotech Firm Profited from Nonpublic Information...more

Littler

Opening Pandora’s Box: Oregon Court of Appeals Holds That “Any Person” Can Be Held Liable Under Oregon’s Aiding and Abetting...

Littler on

On June 23, 2021, in Charlton v. Ed Staub and Sons Petroleum, Inc. and Quicksilver Contracting Company, the Oregon Court of Appeals reversed the dismissal of the plaintiff’s “aiding and abetting” discrimination and...more

McGuireWoods LLP

Considering All Defenses Is an Effective Strategy as Proved by the Southern District of New York Recently Granting a Bank Motion...

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In a recent decision in Anderjaska v. Bank of America, N.A., et al., the Southern District of New York decided that three national banks were not subject to general jurisdiction in New York for allegedly aiding and abetting a...more

Mintz - Bankruptcy & Restructuring Viewpoints

Director Fiduciary Duties May Extend Post-Closing in Multi-Stage Transactions

A recent decision by the United States District Court for the Southern District of New York highlights directors’ fiduciary duty to evaluate all aspects of multi-stage transactions, including those portions to be effectuated...more

Morris James LLP

Chancery Dismisses Defendants From Action Against Their Own Wishes, Describing the Matter as an “Erewhon-like” Inversion of the...

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Stimwave Technologies Inc. v. Laura Tyler Perryman, C.A. No. 2019-1003-SG (Del. Ch. Nov. 17, 2020) - Under Court of Chancery Rule 41(a), a Delaware plaintiff may voluntarily dismiss its own complaint without prejudice,...more

Gray Reed

Aiding and Abetting Claim Sustained Against M&A Advisor JPMorgan

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On June 1, the Delaware Chancery Court (the “Court”) in Morrison v. Berry  allowed an aiding and abetting breach of fiduciary claim to proceed against financial advisor J.P. Morgan Securities, LLC (“JPMorgan”) for its role in...more

A&O Shearman

Delaware Court Of Chancery Denies Motion To Dismiss Claims Regarding Squeeze-Out Merger Because Special Committee Members Were...

A&O Shearman on

On February 26, 2020, Chancellor Andre G. Bouchard of the Delaware Court of Chancery denied a motion to dismiss breach of fiduciary duty claims brought by former shareholders of AmTrust, Inc., challenging the take-private...more

Winstead PC

Federal Court Holds That Texas Does Not Have An Independent Aiding And Abetting Claim For Breach Of Fiduciary Duty But Holds That...

Winstead PC on

In Taylor v. Rothstein Kass & Co., PLLC, a receiver for a failed business sued an accounting firm for various claims arising from the auditor’s issuance of a clean audit report concerning certain financial statements. No....more

K&L Gates LLP

Chancery Court Allows Claims Due To Manager’s Allegiance To Particular Equity Holders Over The Company

K&L Gates LLP on

In Klein and Cambridge Therapeutic Technologies, LLC, v. Wasserman et al., C.A. No. 2017-0643-KSJM (May 29, 2019), the Delaware Court of Chancery addressed claims of breach of fiduciary duties, tortious interference, and...more

K&L Gates LLP

Plaintiff Alleged Facts Sufficient To Support Claims Against Defendants To Survive A Motion To Dismiss

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In Chester County Employees’ Retirement Fund v. KCG Holdings, Inc. et al, C.A. No. 2017-0421-KSJM (Del. Ch. June 21, 2019), the Delaware Court of Chancery denied the defendants’ motion to dismiss claims of breach of fiduciary...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

Dechert LLP

Delaware Supreme Court Clarifies When “Substantive Economic Negotiations” Begin under MFW Framework

Dechert LLP on

In the latest Delaware decision to expound MFW and the structuring of controller transactions, the Delaware Supreme Court clarified the requirement for a controlling stockholder to condition its offer “up front” on MFW’s dual...more

Conn Kavanaugh

Recent Decision on Motion to Dismiss Is Concerning For Lawyers Who Act As Corporate Spokespersons

Conn Kavanaugh on

In multi-district litigation arising out of the collapse of TelexFree, a company that signed up over one million promoters of a bare-bones Voice over Internet Protocol before ultimately declaring bankruptcy and admitting to...more

Jaburg Wilk

Arizona District Court Dismisses Bad Faith and Aiding & Abetting Claims Against TPA and Adjuster

Jaburg Wilk on

The Holding - In Centeno v. American Liberty Ins. Co., 2019 WL 568926 (D. Ariz. Feb. 12, 2019) (Order), an insurance bad faith case arising from a workers’ compensation claim, the Arizona District Court granted a motion to...more

UB Greensfelder LLP

Ohio Supreme Court Clarifies the Definition of “Participating in or Aiding” Securities Fraud

UB Greensfelder LLP on

In a recent landmark decision, the Ohio Supreme Court declared that R.C. 1707.43 does not impose joint and several liability on a custodian of a self-directed individual retirement account (IRA) that purchased illegal...more

Jones Day

Novel Suit by Kentucky Pension Beneficiaries Continues

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A Kentucky court decided in favor of the beneficiaries of Kentucky's Public Retirement System by striking down a motion to dismiss their suit, which alleges that administrators and their advisors breached their fiduciary...more

Holland & Knight LLP

Craft Brewer Failed Attempt to Use Trade Secret Laws to Close the Door on Glassdoor Reviews

Holland & Knight LLP on

The public's increasing reliance on anonymous product and company reviews posted online often gives rise to complaints by the subjects of those reviews, especially when the reviews are negative or critical, and threaten to...more

Sheppard Mullin Richter & Hampton LLP

Getting to Business Judgment in an Interested Transaction: Controlling Stockholder Must Put Procedural Protections in Place Prior...

In Flood v. Synutra Int’l, Inc., No. 101, 2018, 2018 Del. LEXIS 460 (Del. Oct. 9, 2018), the Delaware Supreme Court (Strine, C.J.) held that a controlling stockholder who pursues a merger with the controlled company will have...more

A&O Shearman

Delaware Court Of Chancery Denies Motion To Dismiss LPA Breach Claims, Including Aiding And Abetting Claim Against Financial...

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On August 29, 2018, Vice Chancellor Joseph R. Slights III of the Delaware Court of Chancery denied defendants’ motions to dismiss an amended complaint in a long-running lawsuit arising from a sale of an interest in a pipeline...more

Morris James LLP

Court Of Chancery Addresses Conflicted Transaction And Secondary Liability

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RCS Creditor Trust v. Schorsch, C.A. No. 2017-178-SG (Del. Ch. Apr. 5, 2018) - This is an interesting decision for two reasons. First, it distinguishes between classic self-dealing claims and tag-along challenges to...more

Akin Gump Strauss Hauer & Feld LLP

Federal Court Upholds FERC’s Expansive Use of Anti-Market Manipulation Rule in Power Market “Gaming” Case

On March 30, 2018, the U.S. District Court for the Southern District of Ohio issued an order substantially denying defendants’ Motion to Dismiss the Federal Energy Regulatory Commission’s (FERC or the “Commission”) Complaint...more

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