Tag Archives: derivative settlements

Massive Settlement in Wells Fargo Bogus Account Scandal Derivative Suit

In one of the largest shareholder derivative lawsuit settlements ever, the parties to the consolidated Wells Fargo derivative suit arising out of the bank’s phony customer account scandal have agreed to settle the case for a variety of cash and non-cash benefits with a stated value to the company of $320 million, inclusive of a … Continue Reading

Massive and Unusual Freeport-McMoRan Derivative Lawsuit Settlement Finalized

The parties to the Freeport-McMorRan Copper & Gold, Inc. Derivative Litigation have finalized an agreement to settle the consolidated litigation pending in the Delaware Chancery Court in exchange for a payment of $137.5 million and for the company’s agreement to adopt certain corporate governance reforms. The settlement represents the third largest derivative lawsuit settlement ever. … Continue Reading

Largest Derivative Lawsuit Settlements

My post earlier this week about the $275 million Activision Blizzard shareholder derivative lawsuit settlement – and in particular my suggestion that the Activision settlement may be the largest derivative suit settlement ever – provoked an interesting flurry of emails and conversations about the lineup of other large derivative lawsuit settlements. To address the various … Continue Reading

InSights: The Significance and Implications of the $139 Million News Corp. Derivative Suit Settlement

One of the more interesting recent developments in the world of corporate and securities litigation was the $139 million settlement of the News Corp. shareholders derivative suit. Not only is this settlement apparently the largest ever cash settlement of a shareholders derivative suit, but the entire amount of the settlement is to be funded by … Continue Reading

Pfizer’s D&O Insurers Fund Unusual $75 Million Derivative Settlement

In the wake of Pfizer’s record-setting September 2009 $2.3 billion settlement of charges that it had engaged in off-label marketing of Bextra and other drugs, Pfizer investors filed shareholders derivative lawsuits against the company, as nominal defendant, and 19 of the company’s directors and officer, alleging that the defendants breached their fiduciary duties by failing to detect … Continue Reading
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