In re Citigroup Inc. Shareholder Derivative Litigation
After a group of shareholders sued Citigroup in the Court of Chancery for breach of fiduciary duties related to staggering losses in the sub prime lending mess, Chancellor William B. Chandler III dismissed most claims for failure to make a demand on the board, but he let stand one claim for corporate waste related a to multi-million dollar payment and benefit package for the outgoing CEO.
The opinion can be found here.
Lobbyists
The Delaware Counsel Group in Wilmington worked with its client Eco Powers Solutions to hire a Washington, D.C., lobbying firm to help the company navigate the processes attached to the American Recovery and Reinvestment Act of 2009.
Also in next week's DLW
Kathleen Furey McDonough, head of Potter Anderson & Corroon's labor and employment practice, has written an overview of the Americans with Disabilities Amendments Act of 2008, which became effective Jan. 1.
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