by Staff of the Firm | Aug 11, 2016 | Business Management, Maryland Law update, Uncategorized
In Oliveira v. Sugarman,[1] the Court of Special Appeals of Maryland said that, in reviewing corporate decisions made by a board of directors, it needs to consider the business judgment rule—a presumption that the board acted on an informed basis, in good faith, and...
by Staff of the Firm | Aug 4, 2016 | Business Management, Maryland Law update, Uncategorized
In Oliveira v. Sugarman,[1] two shareholders of iStar Financial Inc. (“iStar”), a Maryland corporation, sued former and current members of the company’s board of directors and senior management regarding employee compensation plans. In 2009, iStar approved an...
by Staff of the Firm | Jul 28, 2016 | Business Management, Maryland Law update, Uncategorized
In our previous blog series on Texas Double-Derivative Shareholder Suit, we introduced the concept of business judgment rule—the presumption that directors or managers, in performing their functions, were honest and well-meaning and that their decisions were informed...
by Staff of the Firm | Apr 19, 2016 | Business Management, Delaware Law Update, New York Law Update, Uncategorized
Delaware County Employees Retirement Fund v. Sanchez involved a complicated business transaction between a private company wholly owned by the family of A.R. Sanchez and a public company in which the Sanchez family formed the largest stockholder bloc.[1] The...
by Staff of the Firm | Apr 12, 2016 | Business Management, Delaware Law Update, New York Law Update, Uncategorized
In our recent blog post on Wandel v. Dimon, we discussed stockholder’s pre-suit demand.[1] For those who are not familiar with pre-suit demand, Delaware law requires stockholders to serve a pre-suit demand on the corporation’s board of directors before they can bring...
