01 03 2016

Judge Analisa Torres of the Southern District of New York dismissed all claims in a shareholder derivative suit brought by F5 Capital Management

Paul, Weiss client Oaktree Capital Management and several other defendants obtained a victory when Judge Analisa Torres of the Southern District of New York dismissed all claims in a shareholder derivative suit brought by F5 Capital Management in relation to the merger of Star Bulk Carriers Corporation and Oceanbulk Shipping LLC.


The plaintiff brought three derivative claims for breaches of fiduciary duty and corporate waste, and a direct claim on behalf of a putative class for dilution. Judge Torres held that the plaintiff failed to plead demand futility or overcome the business judgment rule and thus granted the motion to dismiss without leave to amend. Oaktree Capital Management, L.P. is a private equity firm specializing in marketable securities and private investments. The Firm, led by Jay Steven Wintrob, Bruce A. Karsh, Howard S. Marks, Stephen A. Kaplan and David M. Kirchheimer, is based in Los Angeles (CA).

The Paul, Weiss team included litigation partners Andrew Ehrlich (Picture) and Gregory Laufer. Corporate partners Kenneth Schneider, Lawrence Wee and Ellen Ching were involved in the underlying transactions and provided assistance to the litigation team. Involved fees earner: Andrew Ehrlich - Paul, Weiss, Rifkind, Wharton & Garrison LLP; Gregory Laufer - Paul, Weiss, Rifkind, Wharton & Garrison LLP; Kenneth Schneider - Paul, Weiss, Rifkind, Wharton & Garrison LLP; Lawrence Wee - Paul, Weiss, Rifkind, Wharton & Garrison LLP; Ellen Ching - Paul, Weiss, Rifkind, Wharton & Garrison LLP;

LATEST ISSUE
Powered by Share Trading

POPULAR ARTICLES
LE FONTI AWARDS 2017 CELEBRATE CORPORATE EXCELLENCES IN LONDON.

23/10/2017

On October 20th, 2017, the world’s leading corporate stars reunited for a speci

Le Fonti IAIR Awards Take Hong Kong By Storm

21/03/2017

Hong Kong has become a city of bright expansion, culture, and futuristic innovation. Fr

Will Brexit break London's place as FinTech Capital?

17/11/2016

Fintech, it’s described as the disruption in financial services pushed by consume

Le Fonti IAIR Awards 2016 celebrates excellences in London.

17/10/2016

On October 14th, 2016, the world’s leading corporate stars aligned for a momentou

IAIR AWARDS 2016 IN NEW YORK: EMONEY ADVISOR, C.A.S.H., CREDIT SUISSE AND CHEETAH MOBILE AMONG THE WINNERS

15/04/2016

More than 19 Excellences in the global economy at the VI Annual Edition of IAIR AWARDS&