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Delaware Chancery Court Holds That Granting "Spring-Loaded" Stock Options to Executives Without Full Disclosure to Shareholders Violates Fiduciary Duties

2 Nov 2007, 11:44 am

”The Chancellor ultimately held that where the court may reasonably infer that a board of directors later concealed the nature of a grant of stock options, the court may further conclude that those options were not granted consistent with a fiduciary’s duty of loyalty.For further information, please contact  John Stigi at (213) 617-5589. [read post]

Corporate Securities Law Blog - http://www.corporatesecuritieslawblog.com/

"LITERALLY TRUE" STATEMENT IN A PROSPECTUS CAN STILL SUPPORT A FEDERAL SECURITIES CLAIM IF, IN CONTEXT, THE STATEMENT IS MATERIALLY MISLEADING

7 Jan 2008, 12:01 pm

  It is important for companies to resist the temptation to draft disclosures too finely, as those disclosures often will be judged both in hindsight and in context from the perspective of a reasonable stock market investor, not the perspective of a high-powered corporate attorney.For further information, please contact John Stigi at (213) 617-5589 or Christina Costley at (805) 879-1818. [read post]

Corporate Securities Law Blog - http://www.corporatesecuritieslawblog.com/

Delaware Supreme Court Clarifies Scope of Relief A Shareholder Is Entitled For Inspection Of Corporate Books And Records Pursuant To A Section 220 Demand

9 Dec 2011, 9:48 am

For further information, please contact John Stigi at (310) 228-3717 or Taraneh Fard at (213) 617-5492. [read post]

Corporate Securities Law Blog - http://www.corporatesecuritieslawblog.com/

California Federal District Court Holds That Section 1312(a) of the California Corporations Code Provides the Exclusive Remedy For Minority Shareholders Seeking to Challenge a Proposed Merger

18 Jul 2012, 12:20 pm

For further information, please contact John Stigi at (310) 228-3717 or Taraneh Fard at (213) 617-5492. [read post]

Corporate Securities Law Blog - http://www.corporatesecuritieslawblog.com/

California Court of Appeal Interprets "Controlling Person" Liability Under State and Federal Securities Laws

27 May 2011, 5:50 am

For further information, please contact John Stigi at (310) 228-3717 or Laura Waluch at (213) 617-5423. [read post]

Corporate Securities Law Blog - http://www.corporatesecuritieslawblog.com/

First Circuit Upholds Dismissal of Securities Fraud Action Based Upon Immateriality of Allegedly Omitted Information

27 Jul 2012, 9:45 am

For further information, please contact John Stigi at (310) 228-3717 or Valentina Shenderovich at (212) 634-3019. [read post]

Corporate Securities Law Blog - http://www.corporatesecuritieslawblog.com/

Delaware Supreme Court Reverses Chancery Court Dismissal Of Derivative Plaintiff's Section 220 Books And Records Action

4 Feb 2011, 4:52 am

For further information, please contact John Stigi at (310) 228-3717. [read post]

Corporate Securities Law Blog - http://www.corporatesecuritieslawblog.com/

Second Circuit Holds That SEC Need Not Prove "Proximate Cause" for Aiders and Abettors Under Section 20(e) of the Securities Exchange Act of 1934

15 Aug 2012, 10:13 am

For further information, please contact John Stigi at (310) 228-3717 or Martin White at (415) 774-3233. [read post]

Corporate Securities Law Blog - http://www.corporatesecuritieslawblog.com/

Second Circuit Clarifies Scope of SLUSA Preclusion

21 Oct 2013, 10:30 am by John Stigi

For further information, please contact John Stigi at (310) 228-3717 or Robin Achen at (213) 617-5579. [read post]

Corporate Securities Law Blog - http://www.corporatesecuritieslawblog.com/

New York Appellate Court Adopts Delaware Supreme Court's Tooley Test For Determining Whether a Stockholder's Claim Is Direct or Derivative

22 Aug 2012, 3:45 pm

For further information, please contact John Stigi* at (310) 228-3717 or Alejandro E. [read post]

Corporate Securities Law Blog - http://www.corporatesecuritieslawblog.com/

DELAWARE SUPREME COURT HOLDS THAT BOARD MEMBERS WHO DO NOT OWN SHARES LACK STANDING TO FILE A DERIVATIVE SUIT

25 Feb 2008, 3:30 pm

  “Given the absence of statutory authority” for such an expansion, and given the absence of evidence that such standing would be necessary to “prevent a complete failure of justice,” the court concluded that a stockholder derivative action, and not a non-stockholder board member action, was the better way to redress any injury resulting from a breach of fiduciary duty by a corporate board.For further information, please contact John… [read post]

Corporate Securities Law Blog - http://www.corporatesecuritieslawblog.com/

California Court of Appeal Holds That State Courts Have Jurisdiction Over Securities Act Class Actions Unless the Action Is a "Covered Class Action" and Involves a "Covered Security" Under SLUSA

31 May 2011, 10:58 am

For further information, please contact John Stigi at (310) 228-3717 or Alejandro Moreno at (619) 338-6664. [read post]

Corporate Securities Law Blog - http://www.corporatesecuritieslawblog.com/

Delaware Chancery Court Clarifies When Corporate Officers and Directors are Entitled to Mandatory Indemnification Under DGCL § 145

19 Mar 2012, 2:49 pm

For further information, please contact John Stigi at (310) 228-3717 or Alejandro E. [read post]

Corporate Securities Law Blog - http://www.corporatesecuritieslawblog.com/

Delaware Chancery Court Enjoins Stockholder Vote For Lack Of Adequate Disclosures In Proxy Statement

21 Jun 2010, 1:20 pm

For further information, please contact John Stigi at (310) 228-3717 or Taraneh Fard at (213) 617-5492. [read post]

Corporate Securities Law Blog - http://www.corporatesecuritieslawblog.com/

California Court of Appeal Refuses to Permit an Action for Rescission of a Strategic Transaction, Holding That a Board Has No Duty Under California Law to Include a "Fiduciary Out"

22 Aug 2011, 11:10 am

For further information, please contact John Stigi at (310) 228-3717 or Alejandro E. [read post]

Corporate Securities Law Blog - http://www.corporatesecuritieslawblog.com/

In A Case Of First Impression, Delaware Chancery Court Holds That Preferred Stockholders Have The Right To Bring Derivative Actions

21 Jun 2010, 1:08 pm

For further information, please contact John Stigi at (310) 228-3717 or Amir Torkamani at (213) 617-4180. [read post]

Corporate Securities Law Blog - http://www.corporatesecuritieslawblog.com/

Eleventh Circuit Reverses In Part Securities Fraud Judgment Against Clearing Broker in an Action Brought by the SEC

18 Jun 2012, 7:00 am

For further information, please contact John Stigi at (310) 228-3717 or Taraneh Fard at (213) 617-5492. [read post]

Corporate Securities Law Blog - http://www.corporatesecuritieslawblog.com/

Eighth Circuit Applies Negligence Standard to SEC Enforcement Claims for Violations of Section 14(a) and Rules 14a-9, 13b2-1 and 13b2-2

26 Aug 2013, 7:00 am by Sheppard Mullin

For further information, please contact John Stigi at (310) 228-3717 or Robin Achen at (213) 617-5579. [read post]

Corporate Securities Law Blog - http://www.corporatesecuritieslawblog.com/

District of Columbia and Seventh Circuits Allow for Corporate Liability Under The Alien Tort Statute, Splitting With Second Circuit

18 Aug 2011, 5:15 am

For further information, please contact John Stigi at (310) 228-3717 or Dan Brooks at (202) 469-4916. [read post]

Corporate Securities Law Blog - http://www.corporatesecuritieslawblog.com/

Ninth Circuit Holds that SOX Whistleblower Provisions Do Not Protect Leaks to the Media

10 May 2011, 1:48 pm by Sheppard Mullin

For further information, please contact John Stigi at (310) 228-3717 or Evgenia Fkiaras at (415) 774-2939. [read post]

Labor & Employment Law Blog - http://www.laboremploymentlawblog.com/