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 31, 2020, U.S. Citizenship & Immigration Services (USCIS) announced the release of a new ...
Read More >
The U.S. Department of Justice and U.S. Federal Trade Commission published proposed vertical merger ...
Read More >
Today USCIS implements its new public charge rule nationwide. The rule was previously enjoined in I...
Read More >
Although the case involving North Carolina Highway Patrol Trooper Thomas Wetherington appears to inv...
Read More >
We Juan It! The Washington Nationals are World Series champions, and it is Soto-rific. This is the f...
Read More >
The Massachusetts Appeals Court recently decided that a settlement agreement resolving a zoning case...
Read More >