Recently by Tariq Mundiya
Litigation
“Well, Now I’m Screwed. I Can’t Sell.” The Words That Will Take The SEC’s Insider Trading Case Against Mark Cuban To Trial
Recently, in S.E.C. v. Cuban, No. 08-CV-2050, 2013 WL 791405 (N.D. Tex. March 5, 2013), a federal district court denied Mark Cuban’s motion for summary judgment. The court held that although the question was “in some respects a close one,” there was sufficient dispute over the...
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Pack Your Bags And Renew That Passport: Duties Of Independent Directors Of Delaware Corporations Having Significant Operations Or Assets Abroad
On February 6, 2013, Chancellor Strine of the Delaware Chancery Court issued a bench ruling addressing the duty of independent directors of a Delaware corporation with significant operations or assets outside the United States. In re Puda Coal, Inc. Stockholders Litigation, C.A. No. 6476-CS (Del...
Read MoreFederal District Court In Mark Cuban Case Issues Decision On Misappropriation Theory Of Insider Trading
On July 17, a federal district court in Dallas, Texas issued an important decision, S.E.C. v. Cuban , 2009 WL 2096166 (N.D. Tex. July 17, 2009), addressing the scope of liability under the "misappropriation" theory of insider trading. That theory, recognized over a decade ago by the...
Read MoreDelaware Chancery Court Refuses To Hold Citigroup's Directors Personally Liable For Failing To Monitor Risks Associated With Citigroup's Subprime Exposure
On February 24, 2009, Chancellor William B. Chandler III of the Delaware Chancery Court issued a noteworthy ruling dismissing breach of fiduciary duty claims asserted against the board of directors of Citigroup Inc. See In re Citigroup Inc. Shareholder Derivative Litigation, 964 A.2d 106 (Del....
Read MoreDelaware Chancery Court Highlights Pitfalls Of A Flawed Special Committee Process In Interested Merger Transactions
Introduction On December 21, 2005, the Delaware Court of Chancery issued its decision in In re Tele-Communications, Inc. S'holders, Litig., Civ. A. No. 16470 (Del. Ch. Dec. 21, 2005) ("TCI"). TCI involved the sale of TCI to AT&T, in which the holders of the higher-voting...
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