Fiduciary Duty

An appeals court in California upheld the denial of an anti-SLAPP motion brought by the former chairman of a Chinese transportation construction company who faces claims that he breached his fiduciary duty by allegedly accepting $19 million in bribes. The former chairman claimed the company is a “component of China’s military industrial complex involved in developing magnetic levitation military weapons.”

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Fantasy Sports Company Founders, Former Employees Sue Over Merger

The founders of fantasy sports company FanDuel claim in a suit filed in New York state court Wednesday that its board of directors and private equity firms undervalued the company ahead of merger and intentionally deprived employees and investors of their common shares without compensation. 

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Court Tosses Suit Over Self-Reported Exec Misconduct at LendingClub

A derivative action against online loan platform LendingClub Corp. alleging that the company’s board of directors breached its fiduciary duties was dismissed in Delaware Chancery Court  after investors failed to prove that the board acted in bad faith after self-reporting misconduct to the Securities and Exchange Commission. 

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Bernie Sanders Backers Battle DNC in 11th Circuit

A group of Bernie Sanders supporters faced off against the Democratic National Committee before an 11th Circuit panel Tuesday, fighting to resurrect their claims that the committee shafted them by favoring Hillary Clinton over Sanders in the 2016 presidential primary.

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