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Tag Archives: Merger

Corporate – Derivative Suit – Civil Practice – Standing – Continuous Ownership – Merger (access required)

Estate of Stevenson v. Kavanaugh When a merger deprived plaintiffs of ownership of stock in Force Protection, Inc., plaintiffs lost standing to maintain this derivative action on behalf of Force Protection. This is true under the law of Nevada – the state in which Force Protection was incorporated – and would also be true if S.C. law applied.

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Civil Practice – Federal Jurisdiction – Diversity – S.C. Corporations – Merger (access required)

Mendenall v. Walterboro Veneer, Inc. </emAt the time plaintiff filed her complaint (and even at the time her cause of action arose), the S.C. corporations that plaintiff named as defendants had already merged into the surviving out-of-state corporation. The S.C. defendants no longer exist; therefore, there is no possibility that plaintiff could establish a cause of action against them. Complete diversity exists between the parties. Plaintiff’s motion to remand to state court is denied.

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Sign might remain for awhile, but internal changes underway for Buist (access required)

As the longtime Charleston firm of Buist Moore Smythe McGee readied for its May 2 debut as Womble Carlyle's newest office, one detail seemed to escape managing partners at both firms last week. Would the Womble Carlyle sign be up on the former Buist Moore offices on this first Monday morning after the North Carolina giant completed its April 30 acquisition?

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NC giant Womble Carlyle to take on Charleston’s Buist Moore (access required)

North Carolina powerhouse Womble Carlyle is entering the Charleston market by acquiring the city's largest law firm. In a merger fueled by the prospect of rapid economic growth in the Charleston area, North Carolina's largest law firm is joining forces with Buist Moore Smythe McGee. They will complete the deal on April 30, partners at both firms told Lawyers Weekly. "We're just very excited. We think this is a great opportunity," said Henry B. Smythe Jr. (pictured), managing director of Buist Moore.

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