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Results: 1-10 of 172

Illinois Supreme Court applies broad “stream of commerce” approach
  • Locke Lord LLP
  • USA
  • April 30 2013

Are you, or your clients, a non-Illinois manufacturer without any offices, assets, property or employees in Illinois and have no license to do


Quasi-California Corporations - the application of California’s long-arm statute in mergers and acquisitions
  • Locke Lord LLP
  • USA
  • October 29 2014

California Corporations Code Section 2115 sets forth a "long-arm statute" which requires corporations incorporated outside of California, but with


United States Supreme Court rejects presumption of prudence for stock-drop case
  • Locke Lord LLP
  • USA
  • June 26 2014

In a highly anticipated decision, the United States Supreme Court held that fiduciaries of employee stock ownership plans ("ESOPs") are not entitled


Recent upsurge of Massachusetts class actions on merchant zip code collection
  • Locke Lord LLP
  • USA
  • October 2 2013

There has been a flurry of class actions filed in the last six months against retailers in Massachusetts alleging improper collection of ZIP codes


Class dismissed: ZIP code collection lawsuit in D.C.
  • Locke Lord LLP
  • USA
  • March 26 2014

A District of Columbia federal court recently dismissed a putative class action brought against two retailers for collecting customers' ZIP codes in


Shareholder derivative litigation: a primer for insurance coverage counsel
  • Locke Lord LLP
  • USA
  • December 20 2012

The recent spate of mergers, acquisitions, leveraged dividends and regulatory investigations has led to a much higher frequency of shareholder derivative


Delaware Court of Chancery rejects attempt by a director to pursue a derivative action on behalf of the corporation
  • Locke Lord LLP
  • USA
  • January 19 2007

In Schoon v. Smith, C.A. No. 1753-N (Del. Ch. Sept. 7, 2006), the Delaware Court of Chancery rejected an attempt by a director to pursue, in his capacity as such, a derivative action on behalf of the corporation he served


Delaware Supreme Court expands upon its decision in Tooley and the distinction between a direct and a derivative claim
  • Locke Lord LLP
  • USA
  • January 19 2007

In Gentile v. Rossette, 906 A.2d 91 (Del. 2006), plaintiffs, former stockholders of SinglePoint Financial, Inc. (“SinglePoint”), appealed from a grant of summary judgment by the Delaware Court of Chancery which dismissed their claim for breach of fiduciary duty against SinglePoint’s former directors and its former Chief Executive Officer, Pasquale David Rossette, who also was SinglePoint’s controlling stockholder


Delaware Court of Chancery addresses the rights of a director
  • Locke Lord LLP
  • USA
  • January 19 2007

In Schoon v. Troy Corp., 2006 WL 1851481 (Del. Ch. June 27, 2006), plaintiff Richard Schoon, a director of Troy Corporation (“Troy”), commenced an action under under Section 220(d) of Delaware’s General Corporation Law, which establishes a director’s right to inspect the books and records of a corporation


California federal court dismisses shareholder derivative action against countrywide
  • Locke Lord LLP
  • USA
  • January 5 2009

The U.S. District Court for the Central District of California recently granted the defendants’ motion for judgment on the pleadings in a consolidated shareholder derivative action alleging breach of fiduciary duty against Countrywide’s former directors and officers arising out of Countrywide’s exposure to the subprime crisis