Mary Eaton

Willkie Farr & Gallagher LLP

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Finance

Delaware Supreme Court Issues Important Ruling Barring Re-Litigation Of Stockholder Derivative Suit Under Collateral Estoppel

In a short but significant opinion with potentially wide-ranging implications for stockholder derivative law, on April 4, 2013, the Delaware Supreme Court unanimously ruled that: (1) a prior dismissal of a stockholder derivative suit for failure to allege demand futility precluded different...

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Eighth Circuit Amends Standard For Review Of Mutual Fund Advisory Fees

On April 8, 2009, the U.S. Court of Appeals for the Eighth Circuit decided Gallus v. Ameriprise Financial, Inc. ,1the latest significant case involving Section 36(b) of the Investment Company Act of 1940 (the "1940 Act"). In Gallus , the Eighth Circuit reversed the District Court'...

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Delaware 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....

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