The Articles of Incorporation and Bylaws are certainly important but a shareholder’s agreement is equally important. This agreement decides who is going to have representation on the Board of Directors, what will happen if a shareholder wants to sell out their shares, what happens if there is a deadlock among the shareholders, what will happen […]
Department 9 of the Washoe County Business Court entered a May 24, 2016 temporary restraining order to protect a proposed settlement for which court approval was being sought. Val Holms, an approximately 47% shareholder of Bakken Resources, Inc. (“BRI”), was sued in a separate derivative action on behalf of BRI by Manuel Graiwer and other […]
By Jerry Carter. The Washoe County Business Court recently entered an Order in which it refused to dismiss a shareholder derivative action. One of the defendants is an attorney who moved to dismiss the claims against him on the ground that his role as counsel to the defendant corporation and the attendant attorney-client privilege renders him unable to […]
By Jerry Carter. In September 2012, we wrote about a Washoe County Business Court Order dismissing a shareholder derivative lawsuit against officers and directors of International Game Technology (“IGT”). The Court granted the plaintiff leave to amend the complaint. Now the amended complaint has been dismissed as well. See Order Dated January 9, 2013. The Business […]
By Jerry Carter. In an August 23, 2012 Order, the Washoe County Business Court recently determined that a shareholder derivative lawsuit against officers and directors of International Game Technology (“IGT”) was insufficient. Nevertheless, the Court granted the shareholder derivative plaintiff leave to amend the complaint. The plaintiff’s complaint attempted to allege derivative claims on behalf […]
