Court holds late fee provision is not liquidated damages provision *

USA - October 23 2009
The United States District Court for the District of Delaware denied defendant issuer’s motion to dismiss plaintiff’s claims for actual damages resulting from the defendant’s failure to file a registration statement within the time period required by the parties’ agreement.

Co-authors: Steven Shiffman.

---

Court rejects argument that statements were not misleading *

USA - October 23 2009
The United States District Court for the Southern District of New York denied a motion to dismiss claims under Section 10(b) of the Securities Exchange Act brought by defendants, a manufacturer of pharmaceutical products and its officers.

Co-authors: Steven Shiffman.

---

Court grants SEC’s motion for permanent injunction *

USA - July 17 2009
Defendant, the president and CEO of a publicly traded wireless company, maintained an undisclosed ownership interest in an offshore company.

Co-authors: Alan R. Friedman.

---

Shareholders did not breach fiduciary duties owed to fellow shareholders *

USA - July 17 2009
Defendants and plaintiffs owned interests in Twin City Minerals (Twin City), a company whose only asset was a 50% ownership in Superior Minerals (Superior).

Co-authors: Alan R. Friedman.

---

Court issues rare ruling holding forum selection clause unenforceable *

USA - June 26 2009
Plaintiffs, individuals living in the state of Washington, loaned money to defendant corporation for a real estate development project in return for regular periodic payments of interest.

Co-authors: Anthony Paccione.

---