HOUSTON - A Texas federal judge on Jan. 20 denied an energy company’s request for post-judgment interest on an arbitration award issued in its favor at a rate of 8.5 percent, finding that the parties never agreed on a specific rate when they contracted for the purchase of xylene (MX) and that the company was […]
NEW YORK - Directors and officers of a corporation argued in a New York federal court on Jan. 20 that an amended shareholder derivative complaint should be dismissed for the same reasons that the court dismissed the original complaint because the shareholder still fails to prove that presuit demand was excused (Stephen Strugala, et al. […]
NEW YORK - A group of corporate directors and officers who are accused of awarding and/or taking excessive compensation lost their bid to dismiss a shareholder derivative suit on Jan. 19 when a New York federal judge held that the shareholders had pleaded demand futility with sufficient particularity (John T. Metcalf, et al. v. Sophocles […]