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November 21, 2006 |

International Competition Network Aids Mergers

Formed in the wake of the failed GE-Honeywell merger, the International Competition Network turned five this year, and antitrust lawyers around the world say it's making global merger regulation better. At an event for antitrust lawyers, a top European Commission merger enforcer praised the ICN as an effective method for spreading the gospel of competition law. And attorney Don Klawiter said the ICN has given international regulators a discussion forum and aided in streamlining merger reviews.
3 minute read
January 17, 2007 |

Court Permits Claim Against NYSE, Archipelago Over Merger

Three former New York Stock Exchange seat holders who claim their rights were violated in the merger between the NYSE and Archipelago Holdings may proceed with a portion of their suit against the exchange and its chief executive officer. Finding that the NYSE and CEO John Thain might have made "incomplete or otherwise misleading" statements, New York state Supreme Court Justice Charles E. Ramos denied the defendants' request to dismiss the entire case.
5 minute read
April 13, 2007 |

Suit Over Merger Proceeds Against NYSE Head

A Manhattan judge has declined to dismiss fraud and breach of fiduciary duty allegations against John Thain, the chief executive officer of the New York Stock Exchange, by a former seatholder of the exchange. But the judge dismissed breach of fiduciary duty and negligent misrepresentation claims against the exchange itself in connection with its 2005 merger with Archipelago Holdings and its transformation from a not-for-profit to a public company.
5 minute read
October 02, 2007 |

M&A Lawyers Disagree on Effects of Current Credit Crunch

Mergers and acquisitions practices are flying in the face of a credit crunch, but not all corporate attorneys agree as to why or for how long. The downturn in the economy has undoubtedly had an effect on the M&A market, attorneys agree, but there's disagreement on the part that strategic buyers will play. Some believe that strategic buyers will help maintain the market by stepping in where private equity firms have dropped out, but others believe that strategic buyers are using a wait and see attitude.
6 minute read
October 02, 2007 |

Pact Reduced Lawsuits Over Exiting Brokers, But Will Reduction Last?

A three-year-old pact among brokerage houses that outlines what customer information brokers can take when moving from to another employer has cut employment litigation among brokerage shops. One attorney says that the pact has helped litigation among member firms dwindle from hundreds of cases a year to a handful. But some say the rules are too general, and there are signs of a possible resurgence in litigation, including lawsuits that have been brought against brokers by Smith Barney and A.G. Edwards.
3 minute read
March 30, 2007 |

Apollo Sues EGL, Claiming Auction Was Rigged

Private equity firm Apollo Management has raised its offer for global logistics company EGL and in an unusual twist, filed a suit Tuesday against the target and its directors, claiming the bidding process was rigged. EGL agreed March 18 to go private in a deal led by its chairman and CEO James Crane and private equity firms Centerbridge Partners and Woodbridge Co. In a complaint filed in state court in Houston, Apollo alleges that EGL and Crane unfairly tipped the bidding process in Crane's favor.
4 minute read
April 25, 2006 |

Kaye Scholer Faces Malpractice Claim From Ex-Computer Associates Worker

A former employee of scandal-plagued software giant Computer Associates who claims she was fired for cooperating with an internal investigation may sue the law firm hired by the company to represent her for legal malpractice based on the alleged conflicts of interest, a New York judge has ruled. Irene Salvatore claimed that Manhattan firm Kaye Scholer failed to advise her of options besides cooperating with the inquiry into alleged accounting fraud or that her cooperation might affect her employment.
4 minute read
June 03, 2005 |

Executive Compensation, Disclosure and Board Oversight

Recent SEC settlements with General Electric and Tyson Foods and the recent Delaware lawsuit involving Abercrombie & Fitch have drawn public attention to the details of executive compensation and the quality and significance of company disclosure. Attorneys David A. Katz and Laura A. McIntosh highlight some of the lessons to be learned from recent examples and offer suggestions to directors for best practices going forward.
13 minute read
October 12, 2000 |

Citigroup Agrees to Pay $32.4 Million in Travelers' Shareholder Dispute

Citigroup agreed to pay $32.4 million to settle shareholder lawsuits filed in Delaware Chancery Court over its $2.4 billion buyout of Travelers Property Casualty, with up to $4.4 million slated for attorneys' fees. Shareholders of Travelers filed 13 complaints seeking class action status, arguing they were being shortchanged in the deal.
2 minute read
August 23, 2001 |

CenturyTel Allegations Widen Rift With Alltel

CenturyTel Inc. accused Alltel Corp. executives of deceiving its shareholders, making a friendly merger between the two rural telephone providers an increasingly dim possibility. The charges, contained in a CenturyTel lawsuit, add to the acrimony created by Little Rock, Ark.-based Alltel's unwanted bid. CenturyTel's CEO vowed that the company is prepared to use its many takeover defenses to deflect a hostile acquisition.
3 minute read

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