21Dec
Warning to Directors of Selling Companies: Breach of Fiduciary Duty Liability May Exist for Failure to Investigate and Ensure Solvency of Company Post-Closing and Propriety and Effect of All Related Transactions (But You Can Protect Yourself)
A recent ruling from the United States District Court for the Southern District of New York sent shock waves through the legal and financial community, with some shouting that this “could be a gamestopper for the private equity business.” Although the ruling in In re Nine West LBO Securities Litigation breaks new ground and arguably narrows the protections available to directors under the normally-broad business judgment rule, there are clear lessons others can take from this saga to prevent a...
By:
Weil, Gotshal & Manges LLP
Related
On November 5, 2019, the Wage and Hour Division of the U.S. Department of Labor proposed a new Rule ...
Read More >
On January 1, 2020, new arbitration procedures for the American Arbitration Association (AAA) with r...
Read More >
After meeting for 140 days at the Capitol, Texas Legislators adjourned the 86th Legislative Session ...
Read More >
The Internal Revenue Service (“IRS”) released final regulations... that permit employers to set as...
Read More >
On August 12, 2019, Judge Haywood S. Gilliam, Jr. of the United States District Court for the Northe...
Read More >
In delving deeply into the California Consumer Privacy Act (CCPA), the Amendments recently signed by...
Read More >