April 25, 2024
A California federal judge ruled that a derivative shareholder suit accusing the president of a real estate management and investment firm of misusing nearly $35 million of company revenue now passes the so-called Zuckerberg test since the plaintiff sufficiently pled that demand on the company's board members would be futile.
March 27, 2024
The president of a real estate management and investment firm asked a California federal court to toss a derivative shareholder suit accusing him of misusing nearly $35 million of company revenue in various ways, including hiring a business he owned with his mistress.
September 26, 2023
A shareholder in a company that owns apartment complexes in the Austin, Texas, area sued the firm's president for allegedly diverting millions of dollars in revenue for questionable purposes, including hiring a management firm operated by his mistress.