‘Enforcement 40’ for 2020
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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 […]
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, […]
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.
By Securities Docket on June 28, 2012, 12:38 pm
Lawsuit claims board of Diamond Foods Inc failed to properly oversee the company.
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.”
By Securities Docket on March 20, 2012, 12:02 pm
Berkshire Hathaway wins dismissal of shareholder lawsuit alleging former executive violated insider trading policy.
By Securities Docket on September 21, 2011, 8:09 pm
Court rules derivative action should be litigated in England.
By Securities Docket on April 21, 2011, 4:04 pm
Derivative lawsuit asks seeks disgorgement of Sokol’s trading profits in Lubrizol and damages.
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 […]
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 […]