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Md. high court will consider whether ‘de facto dividends’ exist
The Maryland Supreme Court will consider whether the state recognizes pay raises to shareholding executives at privately held companies as “de facto dividends.”
Md. appeals court revives shareholder suit alleging ‘de facto dividend’
Maryland’s second-highest court has revived the shareholder lawsuit of a man who claims his mother and brother illicitly enriched themselves while not paying him a “de facto dividend.”
Judge rules Rockville executive paid reasonably, no dividends due
After prevailing in a lawsuit brought by the bankruptcy trustee of a former co-owner, a Rockville business and its majority shareholder will be back in court next week to argue a computational error does not affect the judge’s verdict. Rehab at Work Corp. was accused in 2014 of improperly loaning money and paying an inflated […]
GlaxoSmithKline in takeover bid for Human Genome
LONDON — GlaxoSmithKline PLC has made an offer to take over Rockville-based drug maker Human Genome Sciences Inc. which values the company at nearly $2.6 billion. GlaxoSmithKline, which has profit-sharing agreements with HGS on three drugs but a minimal shareholding, said Wednesday it is offering $13 cash per share for the company. A private offer […]
Yahoo shareholder demands records on CEO’s hiring
SAN FRANCISCO — A major Yahoo shareholder has made a legal demand for internal records about the embattled Internet company’s hiring of CEO Scott Thompson. Activist hedge fund Third Point LLC took the unusual step Monday as part of its effort to oust Thompson for an inaccuracy about his academic credentials. After exposing the fabrication […]
Yahoo CEO faces calls for ouster after inaccuracy
SAN FRANCISCO — Yahoo CEO Scott Thompson faces calls for his ouster after just four months leading the troubled Internet company because of inaccuracies with his academic credentials. A major Yahoo shareholder who exposed the misrepresentation Thursday is now leading the charge to oust Thompson for unethical conduct. In a Friday letter, activist hedge fund […]
Overton elected principal at Beveridge & Diamond
Evynn M. Overton of the Baltimore office of Beveridge & Diamond, based in Washington, D.C., has been elected as a principal and shareholder of the firm. Overton’s practice is focused primarily on complex environmental litigation, white-collar criminal defense and internal investigations. She counsels clients on a variety of Maryland environmental programs and compliance issues, including [&h[...]
Delaware judge dismisses Berkshire shareholder suit
WILMINGTON, Del. — A Delaware judge has dismissed a shareholder lawsuit alleging that billionaire Warren Buffett and directors of Berkshire Hathaway Inc. failed to take proper action in response stock trades by former Berkshire executive David Sokol before the company’s $9 billion acquisition of chemical manufacturer Lubrizol. The judge ruled Monday that the shareholders failed […]
Troubled Kodak creates new business structure
ROCHESTER, N.Y. — Eastman Kodak Co. said Tuesday that it has realigned and simplified its business structure in an effort to cut costs, create shareholder value and accelerate its long-drawn-out digital transformation. Its depressed shares shot up 30 percent in morning trading. The 132-year-old photography icon has been pummeled by consumers’ switch to digital. Its […]
New York investment firm unloads Constellation shares
Constellation Energy Group Inc.’s largest shareholder has dropped almost all of its holdings in the energy company, according to a filing Tuesday with the Securities and Exchange Commission. New York-based investment firm AllianceBernstein LP said in a change of stock ownership filing that as of April 30 it owned 1.2 million shares of Constellation, which […]
2 shareholder suits filed vs. Medifast
At least 17 law firms have started investigations, filed lawsuits or begun trawling for potential plaintiffs against weight-loss food maker Medifast Inc. since the company announced on March 11 it needed more time to file its annual report. The Owings Mills-based company is the subject of two class-action lawsuits filed over the last two weeks […]
