Quantcast
Home (page 2)

Tag Archives: Corporate

Corporate – Shareholders’ Lawsuit – Direct Claims – Stock Price Decline – Derivative Claims Only – Banks & Banking – Tort/Negligence (access required)

Rice-Marko v. Wachovia Corp. Since the plaintiff-shareholders are complaining about the diminution in the value of their stock, they have no direct claim against the defendant-banks or the defendant-bank officers. We affirm the trial court’s order dismissing plaintiffs’ claims.

Read More »

Taxation – Corporate – Business Sale – Back Taxes – Buyer’s Obligation (access required)

Starnes v. Comm’r of Internal Revenue Four former owners of a trucking business who sold their stake to a company that in turn sold it to another buyer, without following through on an agreement to pay taxes the former owners owed on the sale proceeds, do not have to pay the back taxes to the IRS; the 4th Circuit upholds a Tax Court decision that the IRS could not collect from the former owners because, under the controlling state law, a creditor of the buyer company could not recover on the buyer’s company debts.

Read More »

Tort/Negligence – Products Liability – Corporate – Asset Purchase – Successor Liability – Duty to Warn (access required)

Knott v. Deese In this products liability case, plaintiff lost two fingers when they were caught in the “pinch point” between the handrail and open gate of a pontoon boat in Arizona. Plaintiff is suing the corporation that bought the assets of the manufacturer of the boat’s finger-pinch guard.

Read More »

Civil Practice – Personal Jurisdiction – Corporate – Parent & Subsidiary (access required)

Watters v. Kirk Defendant Portable Facilities Holding, Inc. is a Delaware corporation, and it has presented uncontroverted evidence that its only connection to this action is its role as a parent corporation, which included procuring insurance coverage for the defendant-subsidiary. Accordingly, the evidence does not support this court’s exercise of personal jurisdiction over Portable Facilities.

Read More »

Tort/Negligence – Nuisance – Landfill Odors – Corporate – LLC – Related Entities – Punitive Damages (access required)

Babb v. Lee County Landfill SC, LLC Even though plaintiffs assert that defendants Republic Services of South Carolina, LLC and Republic Services, Inc. directly control the landfill, which is owned by defendant Lee County Landfill SC, LLC, plaintiffs have failed to show that direct liability exists in South Carolina for non-owning entities who nevertheless directly control a property.

Read More »

Corporate – Tort/Negligence – Fraud — Investor – Individual Lawsuit – Derivative Shareholder Claim (access required)

Rivers v. Wachovia Corp. An investor who suffered losses in 2007 when his 100,000 shares of Wachovia stock plunged from $56.65 per share price to below $1 cannot bring an individual suit based on defendant corporate officers’ alleged fraud about Wachovia’s financial health; the 4th Circuit says the investor does not qualify for any exception to the general rule that plaintiff must use a derivative shareholder claim for injuries to the corporation.

Read More »