directors and officers News

Starbucks Sued by Consumer Group that Calls its Claim of Ethical Sourcing False and Misleading

A consumer advocacy group filed a lawsuit against Starbucks on Wednesday, saying the company’s claim that its coffee is ethically sourced is false and misleading. The National Consumers League cited media reports of abuses on farms that supply coffee and …

Netflix Beats Shareholder Lawsuit over Account-Sharing Disclosures

Netflix has defeated a lawsuit filed by shareholders in a federal court in California that accused the streaming entertainment company of hiding the extent to which account-sharing was hindering its growth. A Texas-based investment trust sued in May 2022, after …

Elon Musk’s Drug Use Is the Latest Headache for Tesla’s Board

Elon Musk’s reported drug use has Tesla Inc. board members facing a familiar quandary: having to decide what, if anything, to do about the chief executive subjecting directors and shareholders alike to great financial and legal risk. The Wall Street …

Netflix Beats Shareholder Lawsuit over Account-Sharing Disclosures

Netflix has defeated a lawsuit filed by shareholders in a federal court in California that accused the streaming entertainment company of hiding the extent to which account-sharing was hindering its growth. A Texas-based investment trust sued in May 2022, after …

Supreme Court to Hear Free Speech Complaint by NRA Against New York Regulator

The U.S. Supreme Court last Friday agreed to hear an appeal by the National Rifle Association of a case in which it accuses a New York insurance regulator of violating its free speech rights when she urged insurance companies and …

SEC Sues SolarWinds for Concealing Cyber Risks Before Massive Hacking

NEW YORK –– The U.S. Securities and Exchange Commission on Monday sued software company SolarWinds Corp. and its top information security executive, saying they defrauded investors by hiding cybersecurity weaknesses during a massive hack targeting the U.S. government. The SEC …

Tesla Fights $230M Fee Sought by Attorneys Who Sued over Board Pay

WILMINGTON, Delaware –– Tesla Inc urged a Delaware judge on Friday to reject $230 million in legal fees requested by a team of shareholder attorneys who won a settlement in a dispute over director pay, and the company recommended a …

Fund Managers Turn to Lawyers as Old ESG Playbook Falls Flat

Investors are losing patience with corporate foot-dragging on key ESG metrics and starting to see legal action as the logical next step, according to the head of Britain’s biggest sustainable finance association. They’re “frustrated at the pace of progress in …

Lawyers who Sued Tesla Board for Excess Pay Want $10,000 an Hour

WILMINGTON, Delaware –– A legal tExcess Pay Want Tesla’s directors to agree in July to return more than $700 million in compensation to the automaker for allegedly overpaying themselves are now seeking a huge payday of their own. The lawyers …

Professional Services Exclusion Didn’t Bar False Claims Act Settlement

A mortgage lender accused of violating the False Claims Act by approving government-backed loans that did not meet federal guidelines can seek to recover the $15 million it paid to resolve the allegations from its management liability insurer, the Delaware …