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May 25, 2023 | Delaware Business Court Insider

AMC Shareholders Seek Active Pro Se Role in Settlement Proceedings

More than 100 letters have been sent to the court by AMC shareholders, most critical of the class representation. That's an unusual level of intervention from shareholders, court-watchers said.

4 minute read

May 19, 2023 | Litigation Daily

This Week's Litigator of the Week Runners-Up and Shout Outs

Plaintiffs lawyers at Bernstein Litowitz Berger & Grossmann and Cohen Milstein Sellers & Toll reached a $1 billion settlement with Wells Fargo & Co. in what's poised to be one of the 20 largest shareholder settlements of all-time if approved.

6 minute read

May 16, 2023 | New York Law Journal

Wells Fargo Reaches $1B Settlement With Shareholders for Alleged False Statements

The suit accused Wells Fargo and several former executives of making false and misleading statements about the bank's compliance with consent orders imposed by regulators in 2018 in the wake of the bank's fake-accounts scandal.

4 minute read

In re Edgio, Inc. Stockholders' Litig.

Publication Date: 2023-05-16
Practice Area: Mergers and Acquisitions | Telecommunications
Industry: E-Commerce | Investments and Investment Advisory
Court: Court of Chancery
Judge: Vice Chancellor Zurn
Attorneys: For plaintiff: Gregory V. Varallo, Daniel E. Meyer, Bernstein Litowitz Berger & Grossman LLP, Wilmington, DE; Mark Lebovitch, Bernstein Litowitz Berger & Grossman LLP, New York, NY; Jeremy Friedman, David Tejtel, Friedman Oster & Tejtel PLLC, Bedford Hills, NY for plaintiffs.
for defendant: Rudolf Koch, Kyle H. Lachmund, John M. O’Toole, Kevin M. Kidwell, Richards Layton & Finger, P.A., Wilmington, DE; Deborah Birnbach, Tucker DeVoe, Goodwin Procter LLP, Boston, MA for defendants.
Case Number: 2022-0624-MTZ

Corwin cleansing could not apply to injunctive relief claim against entrenching/defensive measures in stockholders' agreement, and plaintiffs alleged sufficient facts to support inference that company board negotiated those measures for itself to protect against stockholder activism.

May 12, 2023 | Texas Lawyer

Six Flags Entertainment Stockholder Class Wants Florida Pension Fund as Named Plaintiff

The Six Flags defense was only raised once Oklahoma Firefighters sought to moot a potential class certification argument by amending the complaint. attorney Lewis T. LeClair said.

5 minute read

Ontario Provincial Council of Carpenters' Pension Trust Fund v. Walton

Publication Date: 2023-05-09
Practice Area: Corporate Governance
Industry: Distribution and Wholesale | Pharmaceuticals | Retail
Court: Court of Chancery
Judge: Vice Chancellor Laster
Attorneys: For plaintiff: Gregory V. Varallo, Mae Oberste, Daniel E. Meyer, Bernstein Litowitz Berger & Grossmann LLP, Wilmington, DE; Mark Lebovitch, Edward G. Timlin, Bernstein Litowitz Berger & Grossmann LLP, New York, NY; Leslie R. Stern, Nathaniel L. Orenstein, Steven L. Groopman, Berman Tabacco, Boston, MA; Ned Weinberger, Mark Richardson, Labaton Sucharow LLP, Wilmington, DE; David MacIsaac, Labaton Sucharow LLP, New York, NY for plaintiffs.
for defendant: Raymond J. DiCamillo, John M. O’Toole, Richards, Layton & Finger, P.A., Wilmington, DE; Sean M. Berkowitz, Nicholas J. Siciliano, Latham & Watkins LLP, New York, NY; Andrew W. Stern, Charlotte K. Newell, Sidley Austin LLP, New York, NY; William M. Regan, Allison M. Wuertz, Hogan Lovells US LLP, New York, NY; Frank R. Volpe, Sidley Austin LLP, Washington, DC for defendants.
Case Number: 2021-0827-JTL

Litigation demand was futile where allegations supported inference that directors and officers knew that the company was violating its legal obligations as a dispenser of prescription opioids in a conscious effort to maximize customer sales and profits.

April 27, 2023 | Connecticut Law Tribune

Redactions Problematic for Walmart in Opioid Liability Claims

Vice Chancellor J. Travis Laster decided that major claims passed the demand futility test.

3 minute read

April 27, 2023 | Delaware Business Court Insider

Bulk of Walmart Opioid Liability Claims May Move Toward Trial, Laster Rules

Vice Chancellor J. Travis Laster decided that major claims passed the demand futility test.

3 minute read

April 25, 2023 | Delaware Law Weekly

Special Master Appointed as Zurn Expects Record Shareholder Input in AMC Stock Split Case

The case, filed in February, challenges a plan to convert APEs, AMC's preferred shares, into common stock.

2 minute read

April 25, 2023 | Delaware Business Court Insider

Zurn Expects Record Shareholder Input in AMC Stock Split Case

The case, filed in February, challenges a plan to convert APEs, AMC's preferred shares, into common stock.

2 minute read