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6 Apr 2009, 3:24 am
Introduction On February 27, 2009, the United States government announced that it was taking measures that could result in it taking as much as a 36% equity stake in Citigroup, Inc.[1] This would make the federal government the largest shareholder in Citibank.[2] By converting $25 billion in preferred shares into common stock, the federal government hoped that the move would stabilize Citibank in a tumultuous market.[3] As a result of this move, a number of people have voiced a… [read post]
1 Apr 2009, 2:09 pm
Agri-Mark, Inc., 663 A.2d 464 (Del. 1995), where the Delaware Supreme held that “a party who supplied equity to a stock corporation, but who was not a stockholder of record, had no right to inspect the corporation’s books and records under Delaware common law or under Section 220. [read post]
23 Mar 2009, 8:53 am
Officials said Vassallo's firm, Equity Investment Management and Trading Inc. of Folsom, conned 150 investors by promising enormous profits without risk. [read post]
13 Mar 2009, 6:08 am
Equity Investment Management and Trading, Inc. was headed up by Anthony Vassallo, 29. [read post]
12 Mar 2009, 9:00 am
Best Co. has commented that all financial strength ratings and issuer credit ratings are unchanged for American International Group, Inc. [read post]
8 Mar 2009, 8:17 am
The Delaware chancery court has decided two very important cases arising out of notorious cases of managerial malfeasance or neglect - In re Citigroup Inc Shareholder Derivative Litigation, decided February 24, and American International Group, Inc. [read post]
5 Mar 2009, 9:08 pm
In its role as a court of equity, the Court of Chancery may exercise its equity power to appoint a receiver upon a clear showing of “fraud, mismanagement or extreme circumstance causing imminent danger of great loss. [read post]
14 Feb 2009, 11:56 am
Rule 23(b) If they manage to satisfy all of the prerequisites of Rule 23(a), would-be class plaintiffs also must show that they satisfy at least one of the three 23(b) requirements. [read post]