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Results: 1-10 of 29

Court refuses to lift PSLRA discovery stay

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • April 18 2008

Plaintiffs brought a shareholder derivative action, claiming the officers and directors of Asyst Technologies, Inc. (Asyst) violated federal and state securities law by backdating stock options and making false filings with the Securities and Exchange Commission

9th Circuit: CFO’s statements to counsel in an internal investigation can be used at trial

  • Pillsbury Winthrop Shaw Pittman LLP
  • -
  • USA
  • -
  • October 8 2009

In highlighting the "treacherous path which corporate counsel must tread under the attorney-client privilege when conducting an internal investigation," the Ninth Circuit recently held that statements made by a chief financial officer to outside counsel could be used in a subsequent criminal action against the officer because he knew his statements would be disclosed to the company’s outside auditors

New York District Court dismisses ERISA “stock drop” suit against directors and officers of Lehman Brothers

  • Dechert LLP
  • -
  • USA
  • -
  • March 3 2010

Among the consequences of the dramatic economic downturn that has taken place in recent years has been the proliferation of so-called ERISA "stock drop" suits against the fiduciaries of the pension plans of the companies affected by the recession

Pension plans and liability in an uncertain economy: are directors and officers at risk?

  • McMillan LLP
  • -
  • Canada
  • -
  • March 31 2009

The current economic situation has had a significant impact on the funding of registered pension plans

Ninth Circuit affirms dismissal of Section 14(a) class action holding that a share dilution theory for pleading economic loss is unsupported by case law

  • Sheppard Mullin Richter & Hampton LLP
  • -
  • USA
  • -
  • February 22 2010

In New York City Employees’ Retirement System v. Jobs, No. 08-16488, 2010 WL 309028 (9th Cir. Jan. 28, 2010), the United States Court of Appeals for the Ninth Circuit affirmed the dismissal of a class action lawsuit against Apple, Inc. (“Apple”) and fourteen of its officers and directors for the alleged false and misleading proxy solicitation of a stock option plan on the ground that plaintiff-appellant did not adequately plead economic loss in the form of “dilution to shareholder interests.”

Nemec v Shrader, No 305, 2009, Witkemper v Shrader, No 309, 2009 (Del April 6, 2010)

  • Potter Anderson & Corroon LLP
  • -
  • USA
  • -
  • April 6 2010

In this opinion by Chief Justice Steele on behalf of a majority of the Delaware Supreme Court sitting en banc, the Court affirmed the Court of Chancery's April 30, 2009 dismissal of an action against Booz Allen Hamilton Inc

Why are corporate formalities important?

  • Osler, Hoskin & Harcourt LLP
  • -
  • Canada, USA
  • -
  • March 5 2010

Many compensation and pension actions require the approval of a company's board of directors, or a committee of the board, and for good reason

Officers may need to reimburse payments received during periods later restated

  • Herrick Feinstein LLP
  • -
  • USA
  • -
  • August 18 2010

Companies should carefully consider the effect that issuing a financial restatement will have on their CEOs and CFOs

Director and employee rights and the Grays Timber case in the UK

  • Morrison & Foerster LLP
  • -
  • United Kingdom
  • -
  • September 9 2010

When structuring the share rights of employees and directors in a company or group that employs them, parties to these arrangements will be keen to ensure that any enhanced rights to payments on a share sale are structured in the correct way in order to avoid an income tax on the gain which could potentially mean 52 as opposed to a lower capital gains tax charge of up to 28

New York Federal Court dismisses class action on behalf of Citigroup employees

  • Orrick Herrington & Sutcliffe LLP
  • -
  • USA
  • -
  • June 13 2011

On June 7, 2011, Judge Sidney Stein of the U.S. District Court for the Southern District of New York dismissed a suit brought by participants in the Citigroup employee stock purchase program that asserted claims against various Citigroup defendants

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