Clients updates / Derivative Actions

Israeli Court Scrutiny Over Decisions of a Board of an Israeli NASDAQ Traded Company in a Proxy Fight

4 June 2018 / Michael Barnea

Recently, a four month proxy fight over control of an Israeli incorporated NASDAQ traded company was settled, following a series of proceedings held before the Tel Aviv District Court. At a crucial juncture, the Tel Aviv Court was asked to issue a temporary injunction over a transaction initiated by the board, which included a highly dilutive (24.9%) issuance of shares.

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Precedent Set: ‘Business Judgment Rule’ Also Applies to a Board Resolution on Filing a Derivative Suit

29 April 2018 / Barnea

The Israeli Supreme Court has set a precedent by ruling that the Business Judgment Rule should also be applied to a company’s board of directors when it is deciding whether or not to file a derivative suit.

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Categories: Corporate | Derivative Actions | Litigation

Supreme Court Precedent – Companies Have the Right to Independent Standing during a Derivative Suit

7 August 2017 / Barnea

A significant precedent was handed down recently by the Israeli Supreme Court, whereby a company’s separate and independent standing must be recognized, even after a motion for a derivative suit has been approved.

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Categories: Corporate | Derivative Actions | Litigation | Regulation

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Clients updates / Derivative Actions