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Results: 1-10 of 75

Attendance at executive committee meetings insufficient to satisfy group pleading doctrine

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • October 22 2010

The U.S. District Court for the Southern District of New York recently granted defendants’ motions to dismiss a consolidated class action asserting claims for securities fraud in violation of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 brought by shareholders of Celestica, Inc., a Canadian electronics corporation, against the company and its former officers, as well as against Onex Corporation, the largest controlling shareholder of Celestica, and Onex’s CEO (together, the Onex defendants) based on, among other things, the plaintiffs’ failure to plead fraud with the specificity required by Rule 9(b) of the Federal Rules of Civil Procedure

Delaware Court upholds transfer of voting interests to an existing LLC member

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • August 12 2011

The Delaware Court of Chancery has upheld the assignment of a Delaware limited liability company membership interest, including the voting rights associated with that interest, to an existing member of the LLC

Start-up company fails to recover profits

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • December 17 2010

A federal court in New York recently ruled that a start-up mineral water company had no recourse to the "wrongdoer rule," which permits a complainant to recover damages in a breach of contract action even if the amount of damages is uncertain, because the company did not have sufficient proof that it suffered any damages at all

Third Circuit reinstates conviction for conspiracy to commit securities fraud

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • April 17 2009

Appellee Kevin Heron, Chief Insider Trading Compliance Officer for semiconductor manufacturer Amkor Technology, Inc., was convicted of three counts of securities fraud, as well as one count of conspiracy to commit securities fraud, based on a purported conspiracy with his neighbor, Stephen Sands, a low-level employee of Neoware, to exchange inside information concerning their respective companies

Unnamed class member could not bring separate suit for disgorgement of attorneys’ fees

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • November 19 2010

Nine months after the U.S. District Court for the Southern District of Texas approved a fee application in the In re Enron class action litigation, plaintiff Michael Brown, an unnamed member of the class, brought a new action in the same court, asserting claims of fraud and breach of fiduciary duty against Thomas Bilek and his law firm, seeking disgorgement of the $16 million in attorneys’ fees awarded Mr. Bilek for his work in the litigation

Fiduciary duty claim survives against non-officer

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • December 17 2010

A federal court in Kentucky recently ruled that a former manager at a medical device manufacturer could be liable for breach of fiduciary duty for planning to start a rival business while working at the company despite not serving as either an officer or director of the firm

Alleged financial distress insufficient to support grant of preliminary injunction

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • July 15 2011

The Delaware Court of Chancery denied a request for a preliminary injunction, finding that allegations of "financial distress" failed to demonstrate the imminent, irreparable harm required to obtain immediate injunctive relief

District court limits the Sarbanes-Oxley Act’s whistleblower protections

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • February 12 2010

The U.S. District Court for the Western District of Washington has dismissed on summary judgment whistleblower claims brought by two former compliance auditors of the Boeing Company, Inc

Court finds arbitration clauses cell phone contracts do not apply to collection agency

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • August 19 2011

Customers who had signed cell phone contracts with Verizon and AT&T, brought a class action against the collection agency that the phone companies hired to collect unpaid fees and charges

Creditors of insolvent limited liability companies cannot sue derivatively

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • September 9 2011

The Supreme Court of Delaware recently held that creditors of insolvent Delaware limited liability companies (LLCs) lack standing to bring derivative suits on behalf of the LLCs