Shareholders, Appeals, Standing

Is There A Contemporaneous Membership Requirement For LLC Inspections?

Allen Matkins on 5/28/2025

The Nevada Limited Liability Company Act provides “a manager” of a limited liability company “shall promptly deliver . . . a copy of the information required to be maintained by paragraphs (1), (2), and (4) of subdivision (d)...more

Standing room only: a “person aggrieved” under s.273 of the BVI Insolvency Act 2003

Carey Olsen on 5/9/2025

In a judgment handed down on 15 April 2025, Stevanovich v Matthew Richardson and another (as Joint Liquidators of Barrington Capital Group Ltd (in Liquidation) [2025] UKPC 18, the Judicial Committee of the Privy Council (the...more

A Name is Not Enough: Ninth Circuit Finds No Standing for First-to-File Shareholder to Appeal Securities Class Action

Proskauer - Minding Your Business on 10/26/2023

Imagine you are an investor and you decide to file a lawsuit after a company that you invest in suffers a stock drop. When you get to the courthouse, you find that you are the first person to file a federal securities class...more

California State Court Declines to Expand Standing for Claims Under 1933 Act

Sheppard Mullin Richter & Hampton LLP on 2/4/2020

In Jensen v. iShares Trust, 2020 Cal. App. LEXIS 61 (Cal. App. Jan. 23, 2020), a rare state court decision addressing claims under the Securities Act of 1933 (“1933 Act”), the California Court of Appeal rejected...more

New York Appellate Court Ruling Eases Hurdle to Bringing Derivative Suits Against UK Companies in the New York Courts

Herbert Smith Freehills Kramer on 12/3/2018

On Nov. 14, 2018, a New York appellate court held that in a derivative action brought in a New York court against a company incorporated in the United Kingdom, the plaintiff need not comply with U.K. Companies Act § 261(1)...more

S.D.N.Y. Dismisses Chapter 15 Appeal By Purported Shareholder On Standing And Equitable Mootness Grounds

Orrick, Herrington & Sutcliffe LLP on 4/17/2018

In an April 6, 2018 memorandum opinion and order, U.S. District Judge John G. Koeltl dismissed an appeal challenging the Chapter 15 recognition of a Cayman Islands restructuring of an offshore drilling contractor, holding...more

Eighth Circuit Says No Standing for Fund of Funds’ Shareholders Under Section 36(b)

Broker-Dealer Compliance + Regulation on 7/28/2017

On July 24, 2017, the U.S. Court of Appeals for the Eighth Circuit affirmed a district court ruling that a shareholder of a fund of funds lacks standing under Section 36(b) of the Investment Company Act of 1940, as amended...more

Delaware Supreme Court Confirms that Dilution Claims Typically Are Derivative and Are Extinguished After a Merger

Sheppard Mullin Richter & Hampton LLP on 1/20/2017

Stockholder claims alleging wrongful dilution are typically considered to be derivative in nature. Several decisions out of Delaware, however, have created exceptions to this general rule allowing stockholders to sue...more

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