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Tag Archives: Corporate

Diversity on corporate boards: a tortuous path (access required)

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By Stephen M. Honig BridgeTower Media Newswires “Strength lies in differences, not in similarities.” — Stephen R. Covey “Diversity” in business means variance in gender, race, ethnicity, age, disability and experience. Few goals are more discussed, and yet so unachieved, ...

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Bylaw change cannot redefine minority shareholder protection (access required)

Corporate directors cannot avoid obtaining minority shareholder approval to sell a company by amending its bylaws to redefine a statutory safe harbor provision. The statutory provision is designed to protect minority shareholders when a sale would leave the company without ...

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Important Opinions January – December 2018 (access required)

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The “Important Opinions” that appear each week on the front page of Virginia Lawyers Weekly are those chosen by our editors as the most likely to impact law practice or a given subject area of law. Below is a listing, ...

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EDVA: No sovereign immunity for tribal lending companies (access required)

In a suit alleging usurious loans, two online-lending companies created by Chippewa tribal leaders failed to prove by a preponderance of the evidence that they were entitled to sovereign immunity as arms of the tribe. Background The Lac Vieux Desert ...

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Va. Cir.: GMU Foundation not a public body subject to VFOIA (access required)

The George Mason University Foundation Inc. is an independent corporate entity whose records are not subject to freedom-of-information requirements, even if the records relate to funds used to support the University, itself a public body. Nonetheless, the University’s Gift Acceptance ...

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SCV: Owner could claim breach for condo’s incorporation (access required)

The owner of one unit in a condominium development stated a breach-of-contract claim against the Condominium Council, based on allegations that its Board unilaterally incorporated it into a non-stock corporation. Background According to her pleadings, Appellant Pammalla Uplinger is a ...

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SCV: Shareholder suits need not make “futile” demands (access required)

The circuit court erred in in dismissing the plaintiff’s derivative action on the ground that the plaintiff had failed to first make a demand for the limited liability company to take action. No such demand is required when it would ...

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WDVA: Oral “settlement” no basis to refuse discovery (access required)

A settlement agreement allegedly procured by the defendant’s “debt negotiator” will not be enforced, and the defendant must produce responsive documents in compliance with the court’s most recent discovery order. Background Plaintiff Innotec LLC sued Defendant Visiontech Sales and its ...

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