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Settlement Breach of Duty

Holland & Knight LLP

Shady Days: SEC Secures Another Insider Trading Stat on Shadow Trading Theory

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The U.S. District Court for the Northern District of California on May 30, 2024, approved a settled final judgment against technology company Arista Networks' former chairman and CEO, Andreas "Andy" Bechtolsheim based on...more

Conyers

King Bun Limited and Others v. Lau Man Sang, James and Others - Claim No. BVIHC (COM) 2017/086

Conyers on

Nov 2023 In August 2021, the BVI Commercial Court handed down judgment on liability in favour of the Claimants against seven directors of Vanway for carrying out a fraud on the minority shareholders, in selling the assets of...more

Proskauer - Law and the Workplace

New York Bars Liquidated Damages for Non-Disclosure Breaches in Workplace Discrimination Settlements

New York Governor Kathy Hochul has recently signed into law a bill that impacts settlement agreements entered into by employers and employees that resolve claims of harassment, discrimination and retaliation. The recent...more

Pillsbury - Policyholder Pulse blog

Say What You Mean: Delaware Court Finds Bump-Up Exclusion Ambiguous as Applied to Mergers Versus Acquisitions

Long a feature of directors’ and officers’ (D&O) liability insurance policies, the so-called “Bump-Up” Exclusion has gotten significant attention over the last few years. Because of the recent escalation in securities...more

Seward & Kissel LLP

SEC Settles Charges With Adviser for Breach of Fiduciary Duty Relating to Leveraged ETF Investments

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Who may be interested: Registered Investment Advisers. Quick Take: The SEC recently settled charges against an investment adviser (Adviser) and one of the Adviser’s partial owners for breach of fiduciary duty in...more

Adams and Reese LLP

Bad Faith on the Bayou

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The last few years have brought unprecedented hurricane seasons in the Gulf South, with Louisiana’s coastal communities bearing much of the impact. Those storms brought property damage; that property damage brought insurance...more

White and Williams LLP

District of New Jersey Court Clarifies Primary Insurer’s Duty of Good Faith to Excess Insurer

A primary insurer has a duty of good faith to an excess insurer to attempt to negotiate a settlement with a third-party claimant within the primary insurer’s limits. However, determining whether that duty of good faith was...more

Benesch

Dialysis & Nephrology Digest - October 2020 #2

Benesch on

Possible settlement in class action involving ARA and stockholders - The U.S. District Court for the District of New Jersey will consider a proposed settlement of class action case involving individuals who purchased...more

Hinshaw & Culbertson - Lawyers for the...

Illinois Law Firm Recovers No Attorney's Fees After Trial Court Concluded The Firm Breached Its Fiduciary Duties

Scot Vandenberg v. RQM, LLC, 2020 IL App (1st) 190544 - Brief Summary - An Illinois appellate court affirmed the adjudication of a firm's attorney's liens down to zero, where the discharged firm failed to provide any...more

A&O Shearman

Delaware Court Of Chancery Dismisses Caremark Claim, Finding Consumer Class Action Settlement Was Not A "Red Flag" For Consumer...

A&O Shearman on

On July 29, 2019, Chancellor Andre G. Bouchard of the Delaware Court of Chancery dismissed a stockholder derivative action asserting breaches of fiduciary duty claims against the directors of J.C. Penney Company, Inc. for...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

BB&T settles 401(k) lawsuit

With a planned merger with SunTrust, BB&T tied up a loose end by agreeing to a $24 million settlement on a class action lawsuit filed against them over their 401(k) plan....more

Patterson Belknap Webb & Tyler LLP

The First Department Reconsiders Approval of a Class Action Settlement

On April 11, 2019, the First Department unanimously affirmed a decision issued by Justice Shirley Werner Kornreich, formerly of the Commercial Division, which denied the plaintiffs’ motion for final approval of a class action...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Settlements should encourage vigilance

While 2018 may have had less 401(k) litigation than the previous year, there was more than $90 million in settlements....more

Patterson Belknap Webb & Tyler LLP

Directors and Officers Settle Over Yahoo Hack: A New Chapter in Derivative Litigation?

Yesterday, a Superior Court judge in Santa Clara, California approved what is believed to be the first monetary award to a company in a data breach-related derivative lawsuit....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Edward Jones Forks over $3 million in 401(k) lawsuit

Edward Jones is going to pay $3.2 million to settle a lawsuit alleging they were using investments in the 401(k) plan to enrich themselves....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Fidelity sued again over their 401(k) plan

I have always been concerned about the use of proprietary funds, especially belong to mutual fund companies and their use in their own 401(k) plans because they’re ripe to be a target for a class action lawsuit. Fidelity...more

Snell & Wilmer

Settlement of Solak v. Barrett May Provide Additional Guidance on Setting Director Pay

Snell & Wilmer on

I’ve stressed how important it is for public company executives and directors to stay apprised of developments in the director pay area, including developments/settlements of director pay lawsuits. Earlier this summer, the...more

Allen Matkins

The Board and #MeToo

Allen Matkins on

The following fact pattern should be familiar. A high-profile news story runs detailing years of sexual harassment by the CEO of a company. Four women sued, claiming that the CEO repeatedly propositioned or groped female...more

A&O Shearman

After Settlement By Director Defendants Of Merger-Related Fiduciary Duty Breach Claims, Delaware Chancery Court Rejects Financial...

A&O Shearman on

On May 26, 2017, Vice Chancellor J. Travis Laster of the Delaware Court of Chancery granted plaintiffs’ request to sever and stay fiduciary duty breach claims settled with directors of Good Technology Corporation (“Good”) and...more

Robinson+Cole Data Privacy + Security Insider

Home Depot Agrees to Settle Data Breach Shareholders’ Suit

In a surprise move late last week, Home Depot has agreed to settle a shareholders derivative suit filed against current and former members of the Board of Directors and the Chief Executive Officer and Chief Information...more

Mintz - Privacy & Cybersecurity Viewpoints

Appeal in Home Depot Data Breach Derivative Action Results in Settlement of Corporate Governance Claims

Snatching victory of a sort from the jaws of defeat, shareholders who brought a derivative action alleging that the 2014 Home Depot data breach resulted from officers’ and directors’ breaches of fiduciary duties have reached...more

Moore & Van Allen PLLC

NC Bar on Notice: Business Court May Increase Scrutiny for Approval of Disclosure-Only Class Action Settlements & Attorneys’ Fees

Rolling into the new year, North Carolina attorneys are on notice that the ability to gain approval of class action settlements and related attorneys’ fees may become more difficult in some cases. In recent years, we have...more

McDermott Will & Emery

Corporate Law & Governance Update - August 2016

The Hershey Governance Settlement - On Friday, July 29, the Pennsylvania Attorney General, the Hershey Trust Company and the Milton Hershey School, entered into a written settlement resolving an investigation conducted...more

Proskauer - Corporate Defense and Disputes

NY Court Of Appeals Rejects No-Opt Out Class Action Settlement In Shareholder Litigation

In Jinnaras v. Alfant, decided on May 5, 2015, the New York Court of Appeals rejected a proposed settlement of a shareholder class action, where the proposed settlement would have deprived out-of-state class members of a...more

Proskauer Rose LLP

The ERISA Litigation Newsletter - March 2016

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Editor’s Overview - This month we review the U.S. Supreme Court’s decision in Montanile v. Board of Trustees of National Elevator Industries Health Benefit Plan where the Supreme Court considered the scope of...more

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