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California Court of Appeal Applies Delaware Law to Deny Discovery in Shareholder Derivative Action

2014-12-25 22:22:38| Apparel - Topix.net

In Jones v. Martinez , 230 Cal. App. 4th 1248 , the California Court of Appeal, Second Division , held that a plaintiff asserting a shareholder derivative action against directors of a Delaware corporation in a California state court may not obtain discovery before the plaintiff establishes legal standing to sue derivatively as required under Delaware law.

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California Court of Appeal Applies Delaware Law to Deny Discovery in Shareholder Derivative Action

2014-12-24 02:47:04| Footwear - Topix.net

In Jones v. Martinez , 230 Cal. App. 4th 1248 , the California Court of Appeal, Second Division , held that a plaintiff asserting a shareholder derivative action against directors of a Delaware corporation in a California state court may not obtain discovery before the plaintiff establishes legal standing to sue derivatively as required under Delaware law.

Tags: action law california court

 
 

Recent Developments Relating to Rights to Exclude Shareholder Proposals from Proxy Statements

2014-12-17 02:22:59| Grocery - Topix.net

A recent court decision and no-action letter have brought to light new issues surrounding issuer requests for Securities and Exchange Commission no-action relief with respect to the ability to exclude shareholder proposals from the issuer's proxy statement. On November 26, the US District Court for the District of Delaware ruled that Wal-Mart Stores, Inc. improperly excluded a shareholder proposal from its 2014 proxy statement even though Wal-Mart had previously been granted no-action relief by the Office of Chief Counsel of the SEC's Division of Corporation Finance .

Tags: rights recent relating statements

 

Coca-Cola Co defends CEO as shareholder demands replacement

2014-12-16 15:11:00| Daily beverage news and comment - from just-drinks.com

The Coca-Cola Co has accused investor David Winters of trying "to grab some headlines" after he called for CEO Muhtar Kent to be replaced.

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Coca-Cola shareholder says CEO Kent should be replaced

2014-12-15 21:51:26| Beverages - Topix.net

Wintergreen, which owns less than 1 percent of Coca-Cola, said the company's shares were deeply discounted because of poor management and governance. "The strategic investments made by CEO Muhtar Kent have destroyed shareholder value.

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