10 results for 'cat:"Corporations" AND cat:"Attorney Fees"'.
J. Smith finds that the trial court properly and improperly ruled in a breach of fiduciary duty case filed by the co-owner of a corporation against an attorney who represented the corporation in litigation. The co-owners alleged in their complaint that the attorney failed to inform the corporation's board of directors of a possible conflict of interest and aided another owner of the corporation in starting a competing firm. Nothing in the evidence establishes a relationship between the co-owner and the attorney. However, remaining questions on the award of attorney fees in this litigation still exist and should be adjudicated. Affirmed in part.
Court: Texas Courts of Appeals, Judge: Smith, Filed On: April 24, 2024, Case #: 03-22-00234-CV, Categories: corporations, Fiduciary Duty, attorney Fees
J. Wilson reverses the trial court's award of $88,000 in damages and $8,900 in attorney fees in an operating agreement dispute between bitcoin companies. The Delaware court order upon which the trial court based its award of damages was not properly domesticated for enforcement in Texas, and the attorney fees are not supported by evidence. Reversed in part.
Court: Texas Courts of Appeals, Judge: Wilson, Filed On: March 12, 2024, Case #: 14-22-00633-CV, Categories: corporations, Damages, attorney Fees
Magistrate David grants litigation expenses to the former CEO of a company that failed to disclose a government investigation to a buyer prior to merger because the CEO is entitled such under the governing bylaws and indemnification agreement. However, the CEO is not entitled to advancement for expenses incurred in his prior declaratory judgment action.
Court: Delaware Chancery Court, Judge: David, Filed On: February 19, 2024, Case #: 2023-1079-BWD, Categories: corporations, Indemnification, attorney Fees
[Consolidated.] Vice Chancellor Glasscock declines to award a $5 million mootness fee after a shareholder failed to prevail in a derivative shareholder action challenging a merger between Oracle and NetSuite in 2016. Oracle appointed two independent directors during the pendency of litigation, but incidentally and not as the aim of the litigation. Thus, the American Rule applies, and each party shall bear their own costs.
Court: Delaware Chancery Court, Judge: Glasscock, Filed On: February 7, 2024, Case #: 2017-0337-SG, Categories: corporations, attorney Fees
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J. Jones finds that the trial court properly and improperly ruled in an attorney fees case filed by a law firm against a company. On appeal, the company argues that the trial court’s award of damages to the firm was improper because the company cannot be held liable for such fees and its owner cannot be held liable for damages because she was not a client of the firm. According to state law, limited liability companies cannot have attorney fees issued against them; therefore, the trial court erred in issuing its sanctions in this case. However, under the theory of piercing the corporate veil, the company's owner may be held liable for damages to the firm. Affirmed in part.
Court: Texas Courts of Appeals, Judge: Jones, Filed On: October 6, 2023, Case #: 03-21-00260-CV, Categories: corporations, Damages, attorney Fees
Chancellor McCormick awards $75,000 to counsel for a shareholder who challenged the fairness of a merger of health care corporations. The parties settled the dispute with the issuance of minimal supplemental disclosures, and the award was much less than the $1.1 million sought by counsel, signalling that these kinds of cases are "not worth the attorneys' time."
Court: Delaware Chancery Court, Judge: McCormick, Filed On: July 6, 2023, Case #: 2021-0202-KSJM, Categories: corporations, Settlements, attorney Fees
J. Oliver finds that the trial court rightly dismissed derivative and direct claims stemming from the alleged breach of a company operating agreement for failure to prove damages. The determination by an appointed special litigation committee that no interest was due on a conversion claim must stand since the trial court found that the committee had met all statutory requirements. On remand, the trial court must allocate requested attorney fees between successful and unsuccessful claims. Affirmed in part.
Court: Utah Court Of Appeals, Judge: Oliver, Filed On: July 6, 2023, Case #: 20210566-CA, Categories: corporations, Conversion, attorney Fees