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Georgia Supreme Court confirms business judgment rule protection

  • Alston & Bird LLP
  • -
  • USA
  • -
  • July 15 2014

In a landmark decision, FDIC v. Loudermilk, the Georgia Supreme Court confirmed that the business judgment rule protects Georgia’s directors and

Individual members of LLC personally liable for torts committed in furtherance of the LLC’s business

  • Alston & Bird LLP
  • -
  • USA
  • -
  • June 20 2012

In the South Carolina case of 16 Jade Street, LLC v. R. Design Construction Company, the court wrestled with the scope of protection from tort liability provided to individual members of a limited liability company

Five unclaimed property issues that resist easy answers

  • Alston & Bird LLP
  • -
  • USA
  • -
  • November 12 2013

States continue to actively enforce their unclaimed propertycustodial escheat laws through audit initiatives (typically involving contract audit

SEC adopts alternative uptick circuit-breaker for short sales and reiterates commitment to IFRS roadmap

  • Alston & Bird LLP
  • -
  • USA
  • -
  • February 25 2010

In an open meeting on February 24, 2010, the Securities and Exchange Commission (SEC) voted three to two to adopt new rules regulating short selling

Delaware Supreme Court holds that directors may not use equitable standing to pursue derivative actions

  • Alston & Bird LLP
  • -
  • USA
  • -
  • February 22 2008

A recent decision by the Delaware Supreme Court Schoon v. Smith, No. 554, 2008 Del. LEXIS 67 (Feb. 12, 2008) further reinforced a principle well entrenched in Delaware jurisprudence namely, that an individual who is a member of the board of directors cannot initiate a derivative suit on behalf of the corporation unless he or she complies with Section 327 of the Delaware General Corporation Law

The impact of emerging consumer privacy standards on the collection and use of customer data

  • Alston & Bird LLP
  • -
  • USA
  • -
  • September 21 2010

The basic rules governing privacy of customer information have been relatively stable for a number of years

Northern District of Georgia affirms BJR protection of bank directors and officers and requires FDIC to specifically identify each defendant’s grossly negligent conduct

  • Alston & Bird LLP
  • -
  • USA
  • -
  • August 15 2012

On August 14, 2012, the U.S. District Court for the Northern District of Georgia affirmed the applicability of the business judgment rule in connection with actions taken by bank directors and officers and dismissed ordinary negligence and breach of fiduciary duty claims brought by the Federal Deposit Insurance Corporation (FDIC) against various former directors and officers of a now-defunct Georgia bank

Delaware’s first published administrative appeals decision addresses validity of estimation techniques

  • Alston & Bird LLP
  • -
  • USA
  • -
  • June 16 2014

In the first published decision from an administrative appeal under the Delaware Escheats Law, the independent reviewer rejected the holder's

Delaware’s unclaimed property saga continues

  • Alston & Bird LLP
  • -
  • USA
  • -
  • July 2 2012

Two significant unclaimed property developments have recently come out of Delaware: (1) the passage of Delaware Senate Bill No. 258 (S.258) and (2) the settlement of the Staples litigation

Federal consumer protection agency to determine whether federal law preempts application of state unclaimed property laws to unredeemed gift card balances

  • Alston & Bird LLP
  • -
  • USA
  • -
  • August 20 2012

The Consumer Financial Protection Bureau (CFPB) is a federal agency created in 2010 and is tasked with protecting consumers by carrying out federal consumer financial laws