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Browse: Home / Derivative Actions

Derivative Actions

Tesla Board Compensation Derivative Suit Settles for $735 Million | The D&O Diary

By Securities Docket on July 19, 2023, 7:39 am

In what is as far as I know the largest shareholder derivative lawsuit settlement ever as measured by dollar value, the defendant board members in the Tesla Board compensation derivative suit have agreed to settle the case for a combination of payments and transfers with a total value of $735 million. The agreement settles a […]

Posted in Class Actions, Top | Tagged Derivative Actions

Elon Musk Is Out of Control: It’s the General Counsel’s Fault, Suit Alleges | Corporate Counsel

By Securities Docket on March 16, 2021, 8:50 am

A newly unsealed lawsuit alleging that Tesla Inc.’s board of directors failed to appoint a general counsel who could stand up to controversial CEO Elon Musk highlights the limited options that company counsel have when dealing with difficult bosses. Tesla investor Chase Gharrity alleges, in a derivative suit filed in the Delaware Court of Chancery, […]

Posted in Industry, SEC, Top | Tagged Derivative Actions, Tesla

Judge Rejects Settlement Objectors' Clever 'Topping Bid' Relying on Litigation Funder

Judge Rejects Settlement Objectors’ Clever ‘Topping Bid’ Relying on Litigation Funder

By Securities Docket on February 12, 2013, 12:32 pm

Objectors’ use of a litigation financing group as part of their competing proposal does not meet with court’s approval.

Posted in Class Actions, Industry, Top | Tagged Derivative Actions, Settlements

Diamond Foods' board sued over financial problems

Diamond Foods’ board sued over financial problems

By Securities Docket on June 28, 2012, 12:38 pm

Lawsuit claims board of Diamond Foods Inc failed to properly oversee the company.

Posted in Class Actions, Top | Tagged Derivative Actions, M&A

Seventh Circuit Slams Plaintiffs’ Lawyers in Sears Lawsuit -- WSJ

Seventh Circuit Slams Plaintiffs’ Lawyers in Sears Lawsuit — WSJ

By Securities Docket on June 18, 2012, 1:51 pm

Court rules case “serves no goal other than to move money from the corporate treasury to the attorneys’ coffers.”

Posted in Class Actions, Industry | Tagged Derivative Actions, Web Watch

Lawsuit against Berkshire over Sokol affair dismissed

Lawsuit against Berkshire over Sokol affair dismissed

By Securities Docket on March 20, 2012, 12:02 pm

Berkshire Hathaway wins dismissal of shareholder lawsuit alleging former executive violated insider trading policy.

Posted in Class Actions, Top | Tagged Derivative Actions, Insider Trading

Judge Tosses BP Shareholders’ Claims Arising From Oil Spill

Judge Tosses BP Shareholders’ Claims Arising From Oil Spill

By Securities Docket on September 21, 2011, 8:09 pm

Court rules derivative action should be litigated in England.

Posted in Class Actions, Industry, Top | Tagged Derivative Actions, Dismissals

Buffett and Sokol Sued Over Trading in Lubrizol Shares

Buffett and Sokol Sued Over Trading in Lubrizol Shares

By Securities Docket on April 21, 2011, 4:04 pm

Derivative lawsuit asks seeks disgorgement of Sokol’s trading profits in Lubrizol and damages.

Posted in Class Actions, Top | Tagged Derivative Actions

Alabama Judge Grants Motion to Freeze Scrushy’s Assets

By Securities Docket on June 25, 2009, 1:48 pm

Yesterday, Jefferson County Circuit Judge Allwin E. Horn granted the HealthSouth shareholders’ motion filed Friday (discussed here) to freeze the assets of HealthSouth Corp. founder Richard Scrushy.  On June 18, the shareholders won a nearly $2.9 billion judgment against Scrushy related to the accounting fraud at the company. The AP reports that the judge’s rulng […]

Posted in Class Actions | Tagged Derivative Actions

Step 1: Obtain $2.8 Billion Judgment; Step 2: Seek Asset Freeze

By Securities Docket on June 22, 2009, 2:07 pm

On Friday, attorneys for HealthSouth shareholders asked Alabama Circuit Judge Allwin E. Horn to freeze the assets of former HealthSouth CEO Richard Scrushy, against whom they obtained a massive nearly $2.9 billion judgment last week. One of the attorneys acknowledged that there was no expectation of getting the full judgment from Scrushy, but said that […]

Posted in Class Actions | Tagged Asset Freeze, Derivative Actions | 3 Responses

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