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Results: 1-10 of 19

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

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

Weak internal controls and GAAP violations supported inference of scienter in securities class action

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • December 18 2009

The U.S. District Court for the Southern District of New York denied defendants’ motion to dismiss in a consolidated securities class action lawsuit, where defendant corporation had to restate its financials after making a series of disclosures regarding poor accounting controls

Court denies request for preliminary injunction to delay shareholder meeting

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

The U.S. District Court for the Southern District of New York recently denied a request by a co-founder and director of Enzo Biochem, Inc. for a preliminary injunction to delay the company’s shareholder meeting by 45 days

Seller had no duty to investigate accuracy of information

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • April 23 2010

A federal court in Minnesota dismissed all claims against a seller of consumer debt accounts after the purchaser failed to establish that the seller knew the accounts had, contrary to the representations in the seller's advertising, been turned over to collection agencies

Second Circuit holds that corporations cannot be sued under alien tort statute

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • September 24 2010

The U.S. Court of Appeals for the Second Circuit has ruled that corporations are not subject to liability under “customary international law”, otherwise known as the “law of nations” and that, as such, corporations cannot be held liable under the U.S. Alien Tort Statute

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

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

Class certification of fraud claim denied

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • January 28 2011

A federal district court recently held that a group of aggrieved consumers will not be able to pursue their fraud claims as a class against the company that purportedly deceived them because the company's growing awareness that the customers would not receive their merchandise raised questions of fact requiring individualized adjudication

Improper accounting adjustments held insufficient basis for securities fraud claims

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • March 18 2011

A federal district court in California recently dismissed class action securities fraud claims arising out of several improper accounting adjustments made by VeriFone Holdings, Inc