Directors and Officers Litigation

Our attorneys have experience representing public and private companies (as well as investment banks and accounting firms) and their respective officers, directors, employees, partners, and affiliates in cases filed in federal and state courts. Our clients are major international, national, and regional public and private companies and their individual officers and directors. Our attorneys have handled all types of directors and officers litigation, including recovery actions brought by trustees of bankrupt publicly-traded companies, class actions under the federal securities laws, and claims charging directors, officers, and general partners with breach of fiduciary duty and related misconduct.

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Some of the Directors and Officers Litigation matters handled by our attorneys:

Represented telecommunications company and officer in post-bankruptcy plan litigation relating to preclusive effect of prior releases in securities class actions and bankruptcy reorganization, resulting in favorable settlement.

Represented Martha Stewart Living Omnimedia, Inc. and a number of its senior officers and directors in connection with all civil litigation, including shareholder class actions and derivative cases, arising out of Martha Stewart’s sale of ImClone Systems stock.

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As we have previously noted, exclusive forum bylaws potentially offer protection from the risks of multi-jurisdictional litigation.  Recent developments include the withdrawal of an appeal from a Delaware Court of Chancery decision that found such bylaws facially valid and additional feedback from proxy advisory firms.  This alert provides an overview of questions that remain unresolved and provides guidance to companies and stockholders considering exclusive forum bylaws.