0 results for 'Grant Eisenhofer'
Satyam Computer Services auditors PricewaterhouseCoopers and Lovelock & Lewes want the securities class action pending against them in New York dropped on grounds of forum non conveniens. India's courts are more than capable of hosting the litigation, wrote their lawyers at Wilmer Cutler Pickering Hale and Dorr in a motion to dismiss filed Monday.
The shareholder suits started pouring in just one day after Deutsche Boerse AG announced its proposed $9.53 billion buyout of NYSE Euronext on Feb. 15. And with NYSE shareholders poised to vote on the deal July 7, the defendants agreed to pay out more than $900 million in dividends to make the litigation go away.
Don't get too excited: Most of the money in the settlement will go to holders of U.S.-traded American Depository Shares. But for investors who bought Satyam shares overseas, a 90 percent discounted recovery is still better than nothing.
The Delaware Chancery Court tossed shareholder claims against Attachmate and Elliott Associates over Attachmate's $2.2 billion acquisition of Novell in 2010, but the court ruled that Novell board members can't dodge claims that they acted in bad faith in favoring Attachmate's bid over others.
For the second time in less than a week, a Delaware Chancery Court judge had harsh words for a CEO seeking to sell his company in a multibillion-dollar deal, but stopped short of blocking the proposed sale.
The plaintiffs lawyers claim they deserve the award for scoring a record $1.26 billion judgment against Grupo Mexico in the Delaware shareholder derivative suit arising from Southern Peru Copper Corporation's $3.1 billion acquisition of Minera Mexico. But to win approval, the plaintiffs lawyers will need overcome objections from Grupo Mexico's lawyers at Milbank that such an award is an "impermissible windfall," as well as questions already voiced by Chancellor Leo Strine Jr. about their work on the case.
Cordray's aggressive pursuit of AIG and other financial titans earned him Litigator of the Week honors last year and prompted securities plaintiffs lawyers to fuel his past campaigns. That background could be a liability as Cordray fights to be confirmed as director of the new Consumer Financial Protection Bureau.
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