Case Studies | Director & Officers Liability Claims
Kaufman et al v. H. D. Vest Investment Securities, Inc., North Dakota
Lead counsel in defense of a securities class action filed against a publicly traded broker-dealer. The class action was filed in state court in North Dakota and alleged fraud in connection with the purchase and sale of securities to its customers. In connection with this defense, the firm acted as lead counsel in a corresponding investigation undertaken by the Securities Commissioner in North Dakota.
Confidential Corporate Investigation
Currently defending an investigation by the Securities and Exchange Commission’s Northeast Regional Office in New York City into allegations of insider trading by certain employees of a target company acquired in 2001 by a major financial institution. The firm is currently representing the company and certain of its current officers in the investigation.
In the Matter of Patricia Bellows
Lead counsel in SEC enforcement actions including the defense of a failure to supervise case brought against a publicly traded broker/dealer’s chief compliance officer. The SEC had sought a permanent bar against the officer and following trial, the officer was found not to have committed the violations alleged.
In re: Viscount Airlines, Inc.
Lead counsel in a five week trial in which the sellers (through an LBO) of the United States’ largest private jet charter business (Boeing 737 aircraft) were accused of breach of fiduciary duty in connection with the transaction. The allegations included usurpation of corporate opportunities and fraudulent conveyance.
Entronics Corp v. William Coop
One of our lawyers served as lead counsel for former president of a private company who was accused of breach of fiduciary duty and mismanagement. A “take nothing” summary judgment was obtained based on the “business judgment rule.”
Smart Ones Partnership and Jim Babcock v. Bob Greathouse, Jr., et al.
Defended the managing partner of a partnership organized for the purpose of developing, promoting and breeding a world championship quarterhorse against claims by disgruntled partners for fraud, breach of fiduciary duty, and for an accounting. Jury verdict for managing partner.
In Re: Estate of Jeannette Eyster McLendon et al. v. Gordon B. McLendon, Jr. et al.
Defended the co-executors for the estate of a former media mogul and real estate developer in connection with claims by beneficiaries for fraud, self-dealing, and breach of fiduciary duty. At conclusion of a 3½ week trial, jury found only minor violation of co-executor’s duties and no grounds for removal of co-executors.
Blue Angel Aviation, et al. v. William A. Lucky, III,
Represented a Defendant in a case involving allegations of breach of fiduciary duties owed by former officer. Case was dismissed for lack of personal jurisdiction. We obtained dismissal of similar claims made against two other former officers.
Solid Rock Fellowship Baptist Church v. Equable Investment Corp.,
Currently representing an individual Defendant in a case alleging novel theories of breach of duties to disclose information in connection with real estate transactions.
Greater Albuquerque Housing Partnership v. RCC Asset Managers, LP,
One of our lawyers represented a Partnership in an action involving claims made by an officer of the former general partner and third parties who had dealings with former general partner for breach of fiduciary duties and other torts. The case was tried in New Mexico state court, Valencia County, and client obtained a judgment of foreclosure.
Tyreman v. Openet Telecom, Ltd., et al,
Represented a Defendant telecom company based in Ireland in an action alleging breach of fiduciary duties. Case was dismissed for lack of personal jurisdiction.
Minority Shareholder/Partner Cases
Kessler & Collins has extensive experience in representing owners of businesses against claims by minority shareholders and partners. These claims are typically brought as breaches of fiduciary duty oppression and other torts.