Search for: "John Stigi"
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25 Feb 2008, 3:35 pm
While there are circumstances where a plaintiff might retain standing despite not holding shares, such as when a merger is used to “wrongfully deprive” a plaintiff of standing or where a merger does not affect a plaintiff’s ownership interest, such circumstances are unusual and do not apply to the vast majority of mergers of California-based corporations.For further information, please contact John Stigi at (213) 617-5589. [read post]
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]
17 Jan 2008, 6:46 pm
It is fair to expect that the Court will decline to take more securities cases in the next several years to allow the lower courts to digest and apply its recent decisions.For further information, please contact John Stigi at (213) 617-5589 [read post]
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]
19 Dec 2007, 3:13 pm
” As a result, the court ordered Maxim to produce all communications between Orrick and the Special Committee and Orrick and Maxim.In light of this decision, companies, boards and their counsel now must take extra care in deciding whether to present investigation reports to a full board, and whether to exclude particular board members and their individual counsel from such presentations, in order to preserve the privilege.For further information, please contact John… [read post]
19 Dec 2007, 2:54 pm
As chief financial officer of a Delaware corporation, the court reasoned, Jasper availed himself of Delaware law such that he should have reasonably anticipated being haled into Delaware’s courts.For further information, please contact John Stigi at (213) 617-5589. [read post]
15 Nov 2007, 2:44 pm
Further, while the same Sixth Amendment concerns do not apply in SEC proceedings, if the Courts of Appeals were to rule against the government on grounds relating to breach of contract, these decisions also could be applied to prevent the SEC from pressuring corporations to cease indemnification in cases where corporate bylaws require it.For further information, please contact John Stigi at (213) 617-5589 or Christina Costley at (805) 879-1818. [read post]
15 Nov 2007, 2:30 pm
” Because the transaction was a premium transaction in the absence of a competing bid, the court required plaintiffs to meet an especially high burden to support an injunction.For further information, please contact John Stigi at (213) 617-5589 [read post]
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]
11 Jul 2007, 1:01 pm
Yes and no, says John Stigi, a partner and securities litigator at Sheppard Mullin in L.A. [read post]
2 Jul 2007, 11:13 am
The majority’s new, untested standard for pleading scienter reflects the majority’s attempt to balance these policy considerations within the language of the Reform Act.Authored by John Stigi [read post]
