Professionalism & Ethics
WEBCAST | Ethical Issues in Derivative Litigation with Special Litigation Committee
In minority shareholder litigation, and in merger and acquisition litigation, plaintiffs frequently make derivative claims based on excessive compensation, mismanagement and related allegations. The defendant company may respond by appointing a Special Litigation Committee (“SLC”) to evaluate the claims and determine what action the company should take. If the SLC acts with due diligence and is unbiased, Courts will typically defer to the business judgment of the SLC. This Panel, consisting of three lawyers with extensive experience as the SLC and representing the SLC, the defendant company and the defendant officers and directors/managers. The presentation will walk through the SLC process, from the initial demand by the plaintiff, the appointment of the SLC, and SLC investigation and report, and subsequent Court consideration of the SLC report. The presentation will also consider the ethical issues and “traps for the unwary” that may arise with regard to the differing roles of the SLC, the defendant corporation and its counsel, and the officers and directors/managers and their counsel, through each step of the SLC process.
1.0 Ethics MBCLE credit applied for
Speakers: Judge George F. McGunnigle, retired Fourth District Court Judge; Steve Gaskins, Managing Partner, Gaskins Bennet Birrell LLP; and Terry Fleming, Shareholder, Fredrikson & Byron, P.A.
Cost: $20.00 for HCBA members / $50.00 for non-members
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*Speakers and credits may be subject to change.
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