LexisNexis Corporate & Commercial Insights: Francis Pileggi Discusses Recent Shareholder Actions and the Supreme Court’s Decision in the Halliburton Case

LexisNexis Corporate & Commercial Insights: Francis Pileggi Discusses Recent Shareholder Actions and the Supreme Court’s Decision in the Halliburton Case

On this episode of the LexisNexis Corporate & Commercial Insights, Steve Berstler speaks to Francis G.X. Pileggi, Member-in-Charge, Eckert Seamans Cherin & Mellott, LLC, Wilmington, DE, about three recent rulings involving shareholder actions. One ruling addressed claims by a shareholder alleging multiple breaches of fiduciary duty against the company including  the sale of the company's interest in a subsidiary yielding several million dollars for the three directors. In a second action shareholders filed for a preliminary injunction in an attempt to stop the 7 billion dollar Massey Energy merger claiming that the merger would forestall several pending stockholder claims. The court ruled that the lawsuits would not be extinguished as a result of the merger. The third ruling discussed is the  SCOTUS decision in Halliburton regarding proof of loss causation.