Governance and Fiduciary Issues

Michigan Business Attorney Alert: Michigan Corporate & Business Law: Election of Board of Directors -- Disputed Issues Precluded Summary Disposition.

Michigan business attorneys should review this case which held that a material dispute concerning a board of directors election should have precluded summary disposition in defendants' favor in this declaratory action filed by plaintiff corporation to determine which of two competing factions has legal control of the corporation.Contact a Michigan Corporate & Business Attorney Today for a 'no risk' consultation. 

eBay Sues Craig's List on Minority Shareholder Claims

San Jose, Calif -- April 22, 2008 — In order to safeguard its four-year financial investment in craigslist, eBay (Nasdaq: EBAY; ) today filed a lawsuit in the Court of Chancery of the State of Delaware challenging recent transactions implemented by craigslist's board of directors, consisting of Craig Newmark and Jim Buckmaster.

Corporate Governance Helps Insulate Companies From Shareholder Actions

Corporate Governance provide investors with a framework to ensure compliance with fiduciary and contractual duties to shareholders and investors. Too often governance suffers as a result of a failure of formalities and systems to ensure oversight.

• Adequate shareholder control of the corporation
• Effective monitoring of management’s performance
• Effective oversight of board’s resolutions
• Close alignment of management’s and shareholders’ interests
• Increased productivity and enhanced firm value; and
• Effective deterrence of fraud and other forms of non-compliance

Successful governance policies—encompassing the litigation, regulatory, and policy-making arenas—will make corporate directors and executives more accountable to shareholders; instill confidence among investors, retail and institutional alike, in the integrity of financial markets; and protect employees, bond-holders, and other corporate constituents from fraud and egregious corporate conduct.

Lawyers Define Shareholder Rights

Traverse Legal's lawyers have worked with minority shareholders asserting their rights to records, distributions, dividends, voting, corporate books, enforcement of articles of incorporation / operating agreements and a variety of other matters.  In the last twelve months, our attorneys have worked on minority shareholder issues, involving over  $10 million dollars in minority interest value and obtained millions of dollars in settlements on behalf of oppressed shareholders.

If you believe that your minority shareholder rights are being violated, contact a Traverse Legal lawyer today.  Our attorneys will work with you to devise a strategy which accomplishes your goals.