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Second Circuit clarifies that Moench presumption applies even where fiduciaries have discretion as to whether or not to offer company stock
- Alston & Bird LLP
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- USA
- -
- May 18 2012
On May 8, 2012, the United States Court of Appeals for the Second Circuit summarily affirmed the granting of judgment on the pleadings by the United States District Court for the Southern District of New York in favor of JP Morgan Chase & Co. (“JP Morgan”) and various affiliated individuals and committees
In watershed decision, federal court dismisses shareholder class action against directors and officers of failed bank
- Alston & Bird LLP
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- USA
- -
- January 24 2011
The road to recovery for shareholders of failed banks and other companies that lost value in the wake of the Great Recession just got a lot tougher
Countrywide derivative action dismissed because plaintiffs lacked standing
- Alston & Bird LLP
- -
- USA
- -
- November 11 2008
In a recent decision by District Court for the District of Delaware, the court dismissed a shareholder derivative action brought by former shareholders of Countrywide Financial Corp. (CFC), which was based primarily on insider trading allegations against the CFC Board of Directors
Mere allegations regarding management’s knowledge of “core operations” fail to satisfy the scienter pleading requirement
- Alston & Bird LLP
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- USA
- -
- October 8 2008
In a recent decision, the Ninth Circuit Court of Appeals considered the following question: whether allegations that the defendants had knowledge of a company’s “core operations” could be used to satisfy the requirement of pleading fraudulent intent or “scienter” under the Private Securities Litigation Reform Act
Eleventh Circuit District Courts dismiss backdating claims for failure to plead backdating activity adequately under Section 10(b)
- Alston & Bird LLP
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- USA
- -
- May 5 2008
Recently, the United States District Courts for the Middle District of Florida and the Northern District of Georgia dismissed securities fraud claims predicated on alleged options backdating activity
Two stock option backdating derivative suits dismissed for failure to plead demand futility
- Alston & Bird LLP
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- USA
- -
- January 23 2008
On January 11, 2008, Judge Ronald Whyte of the U.S. District Court for the Northern District of California dismissed two shareholder derivative suits alleging stock options backdating, citing the plaintiffs’ failure to plead with particularity that demand on the company’s board of directors was excused
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- Jurisdiction - USA
- Workarea - Company & Commercial
- Workarea - Capital Markets
- Workarea - Litigation
- Firm Name - Alston & Bird LLP