Breach of Fiduciary Duty: Faruqi & Faruqi, LLP Investigate the Buyout of Caliper Life Sciences, Inc

Faruqi & Faruqi, LLP, a national securities law firm based in New York City, has begun an investigation into the sale of Caliper Life Sciences, Inc. to PerkinElmer, Inc. The latter announced this past Thursday that it sought to acquire all of Caliper’s outstanding common stock for $10.50 per s...
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Lawsuits Stemming From Supposedly Bon-binding “Say-on-Pay” Votes

Under the Dodd-Frank Act, the mandatory “say-on-pay” rules, in which shareholders get to vote on executive compensation levels, are non-binding.  According to the new regulations, which were signed into law in July of 2010, directors and executives are not required to abide by these “say-on-p...
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New FINRA rule imposes new obligations on broker/dealers – self-reporting misconduct

Starting July 1, 2011, broker/dealers will be facing new reporting requirements of wrongdoings under FINRA Rule 4530.   The new rule will be expanding on a broker/dealers ongoing obligation to report external findings such as litigation and regulatory actions pursuant to NASD Rule 3070.   Specific...
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Email may hold the same weight as a traditional ink-on-paper agreement

We would like to share the recent ruling of the Court in Naldi v. Grunberg, an Appellate Division, 1st Department, New York Supreme Court case, as we believe that it may be of some interest to you and your colleagues, in deciding what content to include, if any, in emails to prospective buyers in th...
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Healthsouth’s Scrushy loses appeal of $2.9 Billion Judgment

The Alabama Supreme Court, applying Delaware corporate law, has rejected ex- HealthSouth CEO Richard Scrushy’s appeal of a $2.9 billion judgment that he owes to the shareholders of the health care services chain for orchestrating a massive accounting fraud. Scrushy, who is serving seven years ...
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Breach of Contract: What type of damages may a non-breaching party be enititled to?

It happens quite often, a party breaches its obligations under a written or oral agreement.  Most of the time a non-breaching party doesn’t understand its rights and remedies under this common situation.  The severity of the breach will dictate the course of action that a non-breaching par...
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1$ Billion Lawsuit Against Marvel Dismissed

The $1 billion lawsuit filed against Marvel Entertainment that claimed, among other things, copyright infringement, breach of contract and breach of fiduciary duty was dismissed in an opinion written last Friday, by the Honorable Robert W. Sweet. Read the Opinion...
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Bank of America Corp to pay $410 million to settle lawsuits

Bank of America Corp to pay $410 million to settle lawsuits accusing it of charging customers with excessive overdraft fees, court documents show. The largest U.S. bank by assets is among the more than two dozen U.S., Canadian and European lenders named as defendants in the class-action litigation, ...
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