January 01, 2024
Déjà vu at the U.S. Supreme Court, a circuit split on forum selection clauses, the future of class action challenges and the fallout from last year's "mini-banking" crisis are all on the minds of securities attorneys as they wait to see how some of 2024's most hot-button issues play out in the courts.
June 06, 2023
The U.S. Supreme Court will almost certainly be asked to weigh in on a lawsuit accusing retailer The Gap Inc. of deceiving investors about its commitment to diversity, and how the justices react could determine whether public companies can use forum selection clauses to opt out of federal derivative lawsuits, experts told Law360.
June 01, 2023
The majority of an en banc Ninth Circuit on Thursday affirmed a decision to dismiss a Gap Inc. investor's derivative suit accusing the clothing company's brass of failing to uphold their commitment to diversity and inclusion, rejecting the investor's argument that a forum-selection clause in Gap's bylaws is void and unenforceable.
January 02, 2023
From a New York district court to the U.S. Supreme Court, a number of closely watched securities cases saw important milestones in 2022, and securities litigators are in "wait and see" mode in anticipation of even more important rulings in 2023.
December 12, 2022
Several Ninth Circuit judges appeared wary Monday of a Gap Inc. investor's attempt to revive a closely watched lawsuit over board diversity, asking why the derivative claims couldn't be brought before a Delaware state judge as the company's bylaws mandate.
November 29, 2022
Two former chief justices of the Delaware Supreme Court are among those calling on the full bench of the Ninth Circuit to uphold the dismissal of a shareholder derivative lawsuit brought against retailer The Gap, saying the suit properly belongs in Delaware by way of a forum selection clause.
October 25, 2022
The Ninth Circuit agreed to rehear en banc a shareholder derivative suit accusing Gap Inc. of failing to uphold its commitment to diversity and inclusion after a three-judge panel previously affirmed a lower court's dismissal of the matter.
May 13, 2022
The Ninth Circuit on Friday affirmed a lower court's dismissal of a shareholder's derivative suit accusing Gap Inc. of failing to uphold its commitment to diversity and inclusion, finding that the shareholder brought the case to the wrong forum and should have sued in Delaware Chancery Court.
October 08, 2021
A shareholder for the Gap Inc. has argued in an opening brief before the Ninth Circuit that a lower court erred in tossing her derivative suit over a purported failure to uphold a stated commitment to diversity and inclusion, saying the appellate court should reverse the dismissal.