Category Archives: shareholder litigation
Federal Judge Dismisses Shareholder Lawsuit Against DraftKings
DraftKings is one of the largest sports betting companies in the United States. It currently offers daily fantasy sports contests in Florida. According to a report from Legal Sports Report, the company recently prevailed in a shareholder lawsuit. A federal judge in the Southern District of New York dismissed a shareholder’s claim on the… Read More »
WWE Chairman Vince McMahon Faces Shareholder Lawsuit, Allegations That He Illegally Took Control Of The Company
According to a report from Bloomberg Law, Vince McMahon—the long-time head of World Wrestling Entertainment (WWE)—is being sued by a shareholder for allegedly improperly taking control over the company. Mr. McMahon resigned from his position last year after facing sexual harassment allegations. However, he returned to his leadership position at the WWE in early… Read More »
A Class Action Shareholder Claim Has Been Filed Against The Gap; Alleged Material Misrepresentations
According to a report published by the Bakersfield-Californian, a class action shareholder lawsuit was recently filed against The Gap, a clothing and accessories retail giant based in San Francisco, California. The lawsuit accused the corporation of making material misrepresentations to investors in relation to a recent brand strategy. Within this article, our Miami shareholder… Read More »
Can a Minority Shareholder Force the Majority to Buy Their Shares?
Minority shareholders face certain risks. If you are a minority shareholder, you may find yourself in a position where you simply want to get out of the business. Perhaps it is because you do not believe in the underlying company anymore, or perhaps it is because you believe that the majority shareholders are damaging… Read More »
Florida Appeals Court Rules Against Shareholder in Fraud Case
On March 21st, 2018, Florida’s Fourth District Court of Appeals ruled against a minority shareholder in an appraisal rights case. In Shiva Stein v. BBC Capital Corp, et al, the plaintiff alleged that her shareholder rights were violated under Florida state law following the merger of two financial services companies. In this article, our… Read More »
Florida Shareholder Rights: Inspection of Corporate Records
Corporations, especially private companies and closely-held firms, owe their shareholders an obligation to furnish certain business records and key information upon request. A shareholder’s right to inspect and copy corporate records is critically important. Without this right, it would be very difficult for shareholders to ensure that their financial interests are actually being protected…. Read More »
Florida Shareholder Case Shows the Complexity of Collecting ‘Lost Profits’ as Damages
On March 17th, 2017, the Florida Second District Court of Appeal released a decision in the case of ICMFG Associates Inc v. Bare Board Group Inc. This case involved a complex shareholder dispute. As a part of the case, one company sought lost profits as damages from its former shareholders. Though the firm was… Read More »
Shareholder Appraisal Rights
Minority shareholders can be substantially affected (and harmed) by the actions of the majority shareholders. This puts minority shareholders in a difficult position. Fortunately, minority shareholders do have some important protections available under Florida law. Perhaps the most valuable legal protection is a minority shareholder’s appraisal rights. These rights, also sometimes referred to as… Read More »
Important Elements of a Shareholders’ Agreement
A shareholders’ agreement is a business contract that details the rights and obligations of the stakeholders of a corporation. The agreement is the foundation of a successful business arrangement. It also protects your business interests. If your shareholders’ agreement is inadequate, it could lead to future disputes or to you losing out on your… Read More »
Corporate Bylaws and Shareholder Lawsuits
When it comes to shareholder derivative lawsuits, companies can often find themselves in an arms race with their own shareholders. Derivative lawsuits are tools that shareholders can use to bring a lawsuit on behalf of a company that they are invested in, when the directors or officers of the company refuse to bring a… Read More »
