Category Archives: Shareholder Disputes
Shareholder Lawsuit: Elon Musk Testifies In SolarCity Acquisition Case
According to a report from CNBC, Elon Musk recently testified in a shareholder lawsuit related to Tesla’s $2.6 billion acquisition of SolarCity. Notably, Mr. Musk, the CEO of Tesla, also previously served as the Chairman of SolarCity. Some shareholders alleged that Mr. Musk—along with some other Tesla board members—personally gained from the company’s acquisition… Read More »
What Can A Minority Shareholder Do If Their Rights Are Being Violated?
A minority shareholder of a closely-held Florida corporation must put their trust in the faith of the majority owners. By definition, minority shareholders have little direct influence over the day-to-day operations of the company. This raises an important question: Can minority shareholders take action to stop their rights from being violated? The answer is… Read More »
U.S. Appeals Court: Google Must Face A Shareholder Lawsuit
According to reporting from the Insurance Journal, Alphabet Inc.—the parent company of Google—must face a lawsuit from shareholders. Overturning the decision of a lower court, the United States Court of Appeals for the Ninth Circuit found that the plaintiff’s claims raised a “strong inference” that Google’s top leadership improperly concealed securities risks. Here, our… Read More »
Class Action Shareholder Lawsuit Filed Against Florida-Based PureCycle Technologies
According to a report from Yahoo Finance, a class action shareholder lawsuit has been filed in the United States District Court for the Middle District of Florida against PureCycle Technologies. Based in Orlando, FL, PureCycle Technologies is a recycling processing company. Representatives for the plaintiffs allege that the company made material misrepresentations to shareholders…. Read More »
Five Examples Of Corporate Violations That May Warrant A Shareholder Derivative Lawsuit
Through a shareholder derivative suit, an individual shareholder or group of shareholders can bring a claim on behalf of the company. Most often, shareholder derivative lawsuits are filed against someone close to the corporation, such as an officer, director, or other insider. Here, our West Palm Beach shareholder dispute attorneys highlight five specific examples… Read More »
Minority Shareholders File Lawsuit Against Tampa Bay Rays Owner Stuart Sternberg
According to a report from the Tampa Bay Times, several minority shareholders of the MLB’s Tampa Bay Rays are filing a shareholder oppression lawsuit against Stuart Sternberg, the team’s majority owner. The plaintiffs in the shareholder dispute allege that Mr. Sternberg improperly tried to negotiate a secret deal with a group of outside investors…. Read More »
Shareholder Dispute: Former Brooks Brothers Minority Shareholder Sues Over Alleged “Bad Faith”
According to a report from The New York Times, a former minority shareholder of Brooks Brothers has filed a shareholder lawsuit against the company on the grounds that it used bad faith practices. The company was one of many financial casualties of the COVID-19 pandemic—it filed for bankruptcy protection in July of 2020. In… Read More »
Can A Shareholder Sue An Officer Or Director Of The Corporation?
As a shareholder, you are forced to place a significant amount of trust in the hands of the people who make the day-to-day decisions at the company, including corporate officers and corporate directors. You may be wondering: Can I file a lawsuit if I believe my rights have been violated? The answer is ‘yes’—shareholders… Read More »
Shareholder Lawsuit: CoreCivic Settles Shareholder Dispute For $56 Million
According to a report from The Denver Post, CoreCivic, one of the largest private prison companies in the United States, has agreed to pay $56 million as part of a settlement with shareholders. The underlying dispute centered around a significant drop in the company’s stock price in 2016—and what corporate directors did or did… Read More »
Shareholder Vs. Shareholder: Individual Or Derivative Lawsuits?
As you may know, a shareholder can sue a company and its owners or directors, for mismanagement of the company, or for dereliction of their fiduciary duties to the company. But what about one shareholder or partner (in a partnership) suing another? Do those cases have to be brought as derivative actions—that is, on… Read More »
