Michaels Fights To Avoid Legal Fees In $550M Wyly Fraud

Law360, Dallas (May 20, 2013, 10:33 PM EDT) -- A Texas state judge on Monday said Michaels Stores Inc. has the right to limited information about what one of its former board of directors has disclosed to the U.S. Securities and Exchange Commission about his role in an alleged fraud before ponying up more than $1 million for his legal defense.

Dallas County District Judge Craig Smith on Monday said Michaels is entitled to learn more about settlements its former board member Michael French reached with other entities that could be liable for his defense...
To view the full article, register now.