07Oct
Fraud on the Board II: Conflicted CEO Tilts Company Sale in PE Firm’s Favor
In In re Mindbody, Inc. Stockholders Litigation, the Delaware Court of Chancery declined to dismiss breach of fiduciary duty claims against the chief executive officer of MINDBODY, Inc. (the Company) arising out of the Company’s 2019 sale to private equity firm Vista Equity Partners. In what is becoming an increasingly common claim in M&A litigation, the court found it reasonably conceivable that the CEO, unbeknownst to the Company’s board of directors, favored Vista in the sale process due to...
By:
Troutman Pepper
Related
On January 28, 2020, the Federal Trade Commission (FTC) published adjusted reporting thresholds unde...
Read More >
The State of California filed an appeal last week to challenge a federal court’s order barring Cali...
Read More >
Employees in New York State are likely to see a major expansion of employment rights broadly relatin...
Read More >
The president of the Republic of Kazakhstan recently signed the law, On Introduction of Amendments a...
Read More >
On August 8, 2019, the Department of Labor (DOL) issued an opinion letter confirming that a parent i...
Read More >
The fight over the scope of the “ABC test” for determining the status of workers under California ...
Read More >