News & Analysis as of

Class Action Breach of Duty Corporate Counsel

A class action is a type of legal action where a representative individual or group of individuals can bring a claim on behalf of a larger group or class who share a common legal interest.
Jackson Lewis P.C.

Sixth Circuit Affirms Dismissal of Excessive Fee Case Against DENSO International

Jackson Lewis P.C. on

The Sixth Circuit recently granted an employer win in an ERISA excessive fee case when it affirmed the dismissal of a proposed class action brought by current and former employees of DENSO International America, Inc., a...more

King & Spalding

Delaware Chancery Court Issues Precedential Decision Dismissing Claims Challenging “De-SPAC” Merger Disclosures

King & Spalding on

The Delaware Court of Chancery’s recent decision in In re Hennessy Capital Acquisition Corp. IV Stockholder Litigation,1 marks the Chancery Court’s first total dismissal of a complaint alleging breaches of fiduciary duties in...more

Proskauer - Employee Benefits & Executive...

Eighth Circuit Joins Growing Number of Courts Rejecting Common ERISA Fee and Investment Claims

In Matousek v. MidAmerican Energy Co., 2022 WL 6880771, __ F.4th __ (8th Cir. 2022), the Eighth Circuit joined the Sixth and Seventh Circuits in affirming dismissal of ERISA breach of fiduciary duty claims alleging that the...more

Genova Burns LLC

Potential Harm Enough For Class Action to Proceed in Data Breach Litigation

Genova Burns LLC on

The Third Circuit Court of Appeals has given new life to a putative class action suit led by a former employee of a company that suffered a ransomware attack, leading to her sensitive information being released onto the Dark...more

White & Case LLP

Notable decisions from Delaware courts

White & Case LLP on

MultiPlan: Chancery court assesses fiduciary duties in the context of de-SPAC transactions - The Delaware Court of Chancery declined to dismiss, at the pleading stage, breach of fiduciary duty claims made against a SPAC's...more

Mintz Edge

Amendment to Delaware Law Permits Exculpation of Officers in Corporate Charters

Mintz Edge on

Delaware has long permitted corporations to limit or eliminate monetary liability of directors from breach of fiduciary duty of care lawsuits. However, the same protections have not been afforded to a corporation’s officers....more

Vinson & Elkins LLP

Trending Liability Theories in Delaware SPAC-Related Litigation

Vinson & Elkins LLP on

In the wake of the wave of special purpose acquisition company (SPAC) deal activity in recent years, SPAC-related litigation is on the rise, particularly in Delaware. ...more

Snell & Wilmer

Delaware Supreme Court Holds That Fraud is Insurable

Snell & Wilmer on

In a decision that is likely to reshape directors and officers (“D&O”) policies across the nation, the Delaware Supreme Court has held that fraudulent conduct by corporate officers and directors is insurable under Delaware...more

Cadwalader, Wickersham & Taft LLP

Delaware Court of Chancery Allows Merger-Based Breach of Fiduciary Duty Claims to Proceed Against Target Company CEO, Financial...

On January 29, 2021, Vice Chancellor Laster of the Delaware Court of Chancery refused to dismiss a shareholder class action stemming from the 2019, $2.2 billion sale of Presidio, Inc., an IT solutions provider specializing in...more

Stinson - Corporate & Securities Law Blog

Chancery Finds General Counsel Potentially Liable for Misleading Tender Offer Documents

Morrison v. Berry considers Plaintiff’s claims for damages following the purchase of a grocery-store chain, The Fresh Market, Inc. (“Fresh Market” or the “Company”) by Apollo investment entities. The Plaintiff was a former...more

Pillsbury Winthrop Shaw Pittman LLP

A Ninth Circuit Ruling Repaves the Intersection of ERISA and Arbitration Law

Dorman v. The Charles Schwab Corp. narrows the options of employees asserting breach of fiduciary duty in retirement plans. Breach of fiduciary duty claims that “arise out of” and “relate to” a 401(k) plan—including those...more

Littler

Striking Down Decades-Old Precedent, Ninth Circuit Rules That ERISA Breach of Fiduciary Duty Claims May Be Arbitrated

Littler on

On August 20, 2019, a three-judge panel of the U.S. Court of Appeals for the Ninth Circuit issued an opinion in Dorman v. Charles Schwab Corp., overturning its 1984 position in Amaro v. Continental Can Co. that lawsuits filed...more

Fenwick & West LLP

Pennsylvania High Court’s Dittman Ruling Makes It Harder To Dismiss Data Breach Actions

Fenwick & West LLP on

The Pennsylvania Supreme Court recently held that employers have “a legal duty to safeguard” the personal data of their employees which is stored on internet-accessible computer systems and that the economic loss doctrine...more

Faegre Drinker Biddle & Reath LLP

Defending Against Class Actions: Four Strategies for ERISA Litigation

They are the words in-house counsel dread to see in the caption of a new lawsuit: “on behalf of themselves and all others similarly situated.” ERISA class actions present special challenges and risks to plan sponsors and...more

Skadden, Arps, Slate, Meagher & Flom LLP

"New York Appellate Court Sets New Standard for Approving Nonmonetary and 'Disclosure-Only' Settlements"

It has become a common phenomenon for the announcement of a significant merger transaction to be quickly followed by shareholder class action or derivative litigation challenging the terms of the transaction and the accuracy...more

McCarter & English, LLP

Pleading Failures Doom Disclosure Claims in Short-Form Merger Case

Vice Chancellor Tamika R. Montgomery-Reeves of the Delaware Court of Chancery (the “Court”) issued a Memorandum Opinion on January 4, 2017, dismissing a lawsuit arising from a short-form merger involving United Capital...more

McGuireWoods LLP

Vague Pleading Causes Data Privacy Class Action Against Grocer to Fail at the Check-out

McGuireWoods LLP on

Particularity and plausibility are recurring themes from Judge Reagan’s order last week in the most recent round of litigation stemming from a 2012-2013 data breach at Schnucks grocery. See Community Bank, et al. v. Schnuck...more

Seyfarth Shaw LLP

Discrimination Class Certified Based On Union’s Job Referral Policies Despite Third-Parties’ Discretion In Hiring

Seyfarth Shaw LLP on

Seyfarth Synopsis: African American pipefitters filed a class action against their labor union based on its allegedly discriminatory system for referring jobs to union members. Despite the fact that third-party employers...more

BCLP

Exceptional Plan Governance: Beat Back the Coming Litigation Onslaught

BCLP on

It was bound to happen. For several years, the plaintiffs’ bar has sued fiduciaries of large 401(k) plans asserting breach of their duties under ERISA by failing to exercise requisite prudence in permitting excessive...more

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