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Tag Archives: Corporations

SCV: Shareholder suits need not make “futile” demands

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

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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SCV: “Add-back” exception only for income actually taxed

Rather than construing an ambiguous tax statute against the Commonwealth, the “add-back” statute intended to close a loophole – wherein a corporate entity pays royalties to an affiliated intangible holding company – required a national retail store to count such ...

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$9.4M for Merger Agreement Breach

In aircraft manufacturer Airbus Americas’ suit demanding indemnification for defendant Metron’s alleged breaches of contract related to Airbus’ acquisition of Metron Holdings in 2011, a Fairfax Circuit Court awards Airbus $9.4 million in damages. Defendants include Shareholder Representative Services LLC, ...

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