Shareholder Derivative Litigation
Shareholder derivative suit alleges that the Facebook Board of Directors violated duties to shareholders by paying themselves 63% more than “peers”. This suit was filed on June 6, 2014 in Delaware state court.
A Gas Natural shareholder filed a derivative action case against the board of directors of Gas Natural Inc, alleging that the CEO and board of directors systematically made payments to undisclosed “related parties” owned by the CEO which had the effect or illegally and artificially raising consumer rates for natural gas.
This is a shareholder derivative lawsuit brought against the board or directors of JPMorgan Chase. It alleges that the board systemically failed in its role to oversee the bank’s operations leading to billions of dollars in government fines and settlement payments in civil actions.
This investigation focuses on the board of directors of IPC Healthcare (NASDAQ: IPCM). The Department of Justice (DOJ) recently announced that it would intervene in in a complaint that alleges that the company over billed Medicare and Medicaid and violated federal false claims act. This investigation then asks the basic question whether the board of directors violated its duties to shareholders.
In mid-December, 2013, Target announced that hackers had stolen credit and debit card information on 70 million customers. Much of security law deals with one basic question: Did members of the board of directors fulfill their duties to shareholders? This suit alleges that the Board breached their respective duties to shareholders.