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Corporate – Shareholders’ Derivative Action – Demand Futility – Insufficient Showing – Outside Directors (access required)

In re World Acceptance Corp. Derivative Litigation (Lawyers Weekly No. 002-080-17, 27 pp.) (Mary Geiger Lewis, J.) 6:15-cv-02796; D.S.C. Holding: An independent auditor approved the nominal defendant-corporation’s accounting practices, and plaintiff-shareholders have failed to allege specific facts to support their ...

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Corporate — Director & Shareholder – Civil Practice – Ripeness – Domestic Relations – Equitable Distribution Action (access required)

Happy Times Discount Beverage, Inc. v. Podrebarac (Lawyers Weekly No. 002-007-15, 9 pp.) (J. Michelle Childs, J.) 0:14-cv-00129; D.S.C. Holding: Although there is ongoing equitable distribution litigation between defendant and plaintiff’s other shareholder, defendant still maintains that she is a ...

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Corporate – LLC – Judgments — Charge Order – Foreclosure – Civil Practice – Appeals (access required)

Kriti Ripley, LLC v. Emerald Investments, LLC Plaintiffs Kriti Rippley, LLC and Ashley River Properties II, LLC have a judgment against Kriti’s fellow member of Ashley – defendant Emerald Investments, LLC -- and Emerald’s owner, defendant Longman; plaintiffs have had a charging order against Emerald’s interest in Ashley for two and a half years; plaintiffs have received no payments toward the judgment; and Ashley has not and is not in a position to make distributions; therefore, foreclosure is the appropriate remedy.

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