Latest news with #fiduciaryDuty
Associated Press
07-07-2025
- Business
- Associated Press
Olo Inc. Investigated for Breaches of Fiduciary Duty - Contact the DJS Law Group to Discuss Your Rights
LOS ANGELES--(BUSINESS WIRE)--Jul 6, 2025-- The DJS Law Group announces that it is investigating claims on behalf of investors of Olo Inc. ('Olo' or 'the Company') (NYSE: OLO ) for potential breaches of fiduciary duty on the part of its directors and management. INVESTIGATION DETAILS: The investigation focuses on whether the Olo board breached its fiduciary duties to investors. Olo announced on July 3, 2025, that it had entered into an agreement to be acquired by investment firm Thoma Bravo in an all-cash transaction valued at approximately $2 billion. If you are a shareholder who suffered a loss, contact us to participate. WHY DJS LAW GROUP? DJS Law Group's primary focus is to enhance investor return through balanced counseling and aggressive advocacy. We specialize in securities class actions, corporate governance litigation, and domestic/international M&A appraisals. Our clients are some of the largest and most sophisticated hedge funds and alternative asset managers in the world. The litigation claims of our clients are extraordinarily valuable assets that demand respect, focus, and results. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics. View source version on CONTACT: David J. Schwartz DJS Law Group 274 White Plains Road, Suite 1 Eastchester, NY 10709 Phone: 914-206-9742 Email:[email protected] KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA INDUSTRY KEYWORD: CLASS ACTION LAWSUIT PROFESSIONAL SERVICES LEGAL SOURCE: DJS Law Group Copyright Business Wire 2025. PUB: 07/06/2025 08:05 PM/DISC: 07/06/2025 08:05 PM
Reuters
17-06-2025
- Business
- Reuters
Canada's TC Energy erases $199 million damages loss in Delaware appeal over Columbia takeover
June 17 (Reuters) - Delaware's highest court on Tuesday threw out a judge's order requiring Canadian pipeline operator TC Energy ( opens new tab to pay $199.2 million of damages stemming from its $13 billion purchase of Columbia Pipeline Group in 2016. The case was brought by Columbia shareholders who wanted TC Energy held liable for cutting the takeover price to $25.50 per share from $26, enabling former Columbia Chief Executive Robert Skaggs and Chief Financial Officer Stephen Smith to collect large change-of-control payments known as golden parachutes. In May 2024, Vice Chancellor Travis Laster of the Delaware Chancery Court awarded the Columbia shareholders 50 cents per share, equal to $199.2 million. But the Delaware Supreme Court cited its December 2024 ruling in another case that acquirers such as TC Energy could be liable for assisting a seller's breach of fiduciary duty only if they knew about the breach and that their own conduct was wrong. "For understandable reasons, that standard was not applied here," and despite a "mountainous trial record" the standard was not met, Justice Gary Traynor wrote in a 100-page decision for a unanimous five-judge panel. "The Court of Chancery did not find that TransCanada had actual knowledge of Skaggs's and Smith's breach of duty of loyalty or that the Columbia board was failing to maintain meaningful oversight of the sale process," Traynor wrote. "Lacking actual knowledge of the sell-side breaches, TransCanada could not have knowingly participated in them." Lawyers for the Columbia shareholders did not immediately respond to requests for comment after business hours. TC Energy and its lawyers did not immediately respond to similar requests. Skaggs and Smith agreed before trial to pay $79 million to settle with Columbia shareholders. The case is In re Columbia Pipeline Group Inc Merger Litigation, Delaware Supreme Court, No. 281, 2024.
Yahoo
14-06-2025
- Business
- Yahoo
UnitedHealth Group (NYSE:UNH) Reaches US$69 Million Record ERISA Settlement
UnitedHealth Group recently reached a $69 million settlement in a fiduciary duty lawsuit, underscoring its legal challenges. This development, coupled with UnitedHealth's exploration of selling its Latin American operations amid financial difficulties, significantly impacts the company's reputation and strategy. Last week, UnitedHealth's stock price increased by 3%, reflecting these events. The overall market remained flat during the same period, suggesting these specific developments may have contributed positively against broader market trends. As UnitedHealth addresses these hurdles, the share price movement reflects ongoing adjustments and investor reactions to these significant corporate actions. UnitedHealth Group has 1 warning sign we think you should know about. The end of cancer? These 23 emerging AI stocks are developing tech that will allow early identification of life changing diseases like cancer and Alzheimer's. The recent settlement and exploration of selling UnitedHealth Group's Latin American operations highlight the company's focus on streamlining its structure and addressing legal challenges. These actions may influence investor sentiment and potentially drive strategic realignments as UnitedHealth navigates these operational hurdles. Despite these short-term developments, UnitedHealth's long-term performance shows a total return including share price and dividends of 15.36% over the past five years, reflecting steady growth. In comparison, the company underperformed the US Healthcare industry and overall US Market, both of which experienced different returns over the past year, as indicated by the industry's 17.9% decline and the market's 10.6% gain, respectively. The implications of current news events on revenue and earnings forecasts are notable. The adjustments in the Medicare business and the adoption of digital tools may stabilize and expand future revenue streams, while also enhancing operational efficiency. Analysts forecast an annual revenue growth rate of 9.4% over the next three years, with earnings expected to rise to US$30.5 billion by 2028. As of today, with UnitedHealth Group's stock priced at $394.51, it trades below the analysts' consensus price target of US$547.65, creating a room for potential growth in line with market expectations, driven by anticipated improvements in profit margins and strategic executions. Click here to discover the nuances of UnitedHealth Group with our detailed analytical financial health report. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NYSE:UNH. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
09-06-2025
- Automotive
- Yahoo
Tesla shareholders face staggering new hurdle after company enacts controversial policy: 'A formidable barrier'
Tesla raised the bar for shareholders to sue the company board or executives for breach of fiduciary duties. The change took effect May 15 and requires an investor or group of investors to hold 3% of the electric vehicle maker's stock "to institute or maintain a derivative proceeding," CNBC reported. Tesla's market cap is $1.123 trillion, so a plaintiff would have to own shares worth $33.7 billion. "Obviously, for a company of Tesla's size, that would be a formidable barrier to anyone bringing a lawsuit for breach of fiduciary duty," Tulane Law School's Ann Lipton told CNBC in an email. The change was enabled by a Texas law that "allows corporations to limit shareholder lawsuits against insiders for breach of fiduciary duty," the outlet added. With shareholder approval, Tesla moved its incorporation site from Delaware to the Lone Star State in June 2024. An investor who owned nine shares of Tesla stock sued the company in 2018, and CEO Elon Musk's $56 billion compensation package was revoked in January 2024. Musk is by far the richest person on the planet, and his wealth makes him nearly untouchable. He helped to pioneer the EV movement by becoming an early investor in Tesla in 2003, and the company has been known for innovative technology and industry-leading breakthroughs. Recently, however, the South African has drawn criticism for straying into American and European politics, including spending lavishly on the U.S. presidential election campaign of Donald Trump, leading government spending cuts as the head of the U.S. Department of Government Efficiency, and supporting the far-right Alternative for Germany party. Activists have protested these actions, and Tesla charging stations, vehicles, and dealerships have been vandalized. Sales have plummeted, and Tesla stock spiraled downward, too, though it has regained much of its value. This upheaval and the larger perception change of Musk from groundbreaker to villain could stifle the uptake of EVs, which is one of the many things necessary to slow the rapid rise of global temperatures caused by the burning of fossil fuels for energy. It would take a massive coalition of shareholders to fight back against this move by Tesla, though companies are generally amenable to public pressure — especially when it comes to consumers' spending power. Tesla, for example, is shifting its focus from EV manufacturing to a robotaxi service and robotics to stabilize its future. Musk has a history of not delivering on outlandish promises, but it has not significantly slowed the company or deterred its supporters. What do you think of Tesla and Elon Musk? Elon is the man Love the company; hate the CEO I'm not a fan of either I don't have an opinion Click your choice to see results and speak your mind. Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
Yahoo
08-06-2025
- General
- Yahoo
My new husband gave me a contract and told me to ‘sign here' — but I refused. It was the best decision of my life.
My former husband started house hunting during our engagement. A few months into our marriage, he took me to meet who I thought was our prospective builder. It was a contract sabotage. My new husband signed the last page without even looking at the other pages. He then passed the contract to me, and I was told to 'sign here.' I turned to page one and began reading. My husband said there was no need to read the contract, and to just sign below his signature. Continuing reading, I discovered 'our' new home loan listed my home as equity. Further on I read that 'our' new home would be titled in his name only. When I refused to sign, I was informed I had to sign because he had. 'He failed in his fiduciary duty': My brother liquidated our mother's 401(k) for her nursing home. He claimed the rest. 'The situation is extreme': I'm 65 and leaving my estate to only one grandchild. Can the others contest my will? I help my elderly mother every day and drive her to appointments. Can I recoup my costs from her estate? My new husband gave me a contract and told me to 'sign here' — but I refused. It was the best decision of my life. My daughter's boyfriend, a guest in my home, offered to powerwash part of my house — then demanded money I responded, 'Then he just bought a house,' and I continued to refuse to sign. I was told he didn't qualify without the equity in my house. I said I didn't see that as being my problem. They both went ballistic, demanding I sign. I quietly picked up my purse, walked out of the building, and was halfway to my house when my husband offered me a ride. Our marriage didn't last long. After he moved out of my house, I received a package in the mail. Inside were divorce papers, which were clearly in his favor. On the last page was a little sticky arrow that said 'sign here.' Again, it was never going to happen! I still got burned in the end, but just around the edges. When I sold my house years later, all the profit was mine. Never just 'sign here,' especially if someone, even your husband is telling you to do so. Not signing was the best decision of my life. Happily Divorced P.S. The contract intentionally, on his part, failed to disclose both our credit-card debt. Had I signed, we'd both be guilty of fraud. He didn't reveal the exclusion until well into the 'sign here' pressure push. He claimed not 'including' my debt was doing me a favor. You should have seen the builder agent's face when I said, 'Your credit-card debt is a lot more than mine!' Related: Here are the Moneyist's 5 worst dating stories What I find most inspiring and amazing about your letter is that, even when you were under pressure to sign these documents by someone you would normally trust, you refused to do so. Perhaps there were 'red flags' that put you on notice or, maybe you were taught to never sign something, anything, before reading it first. I don't know you and yet I am proud of you for what you did. Because it not only represents someone who refused to be hoodwinked by their spouse, it's also a shot in the arm for anyone who has made a bad decision under pressure from someone else: whether it's to sign a timeshare agreement, buy a car or switch electricity providers. They used the hallmarks of all con artists: time pressure (it must happen now), the age-old con (I am someone you like and we have built up a bond of trust), the suspension of disbelief (everything is OK as long as you sign it) and a vague threat (this is an uncomfortable situation and the best way to be free from that feeling is to sign). Don't miss: 'I'm an endless honey pot': My wife and I are in our 70s. We gave our son $40,000 for his L.A. wedding. Now he wants more. Like many scammers, your husband tried again with the divorce papers. Sometimes, people say these people who gain your trust are geniuses because they manage to convince you they are upstanding, charismatic individuals, and can sustain that over a long time. But they're not Albert Einstein or Warren Buffett. If they were, they wouldn't be trying to con their spouse. What's more, your ex-husband, like many phishing or confidence thieves, was a one-trick pony. His 'sign here' trick didn't work the first time, but he was devoid of any other ways to get his hands on your assets, so he merely tried the same method a second time. I only hope his next 'mark' will be as strong as you when put under such pressure. Beware of love bombers. They tell you what you want to hear. They promise you the world. They find out what you want: companionship, romance, stability, love, and they give it to you in spades until you are either hooked and/or (in your case) married. And then the payoff begins, and it won't end until you decide to walk out that door, just like you did. Don't miss: 'This woman destroyed my heart and soul': After my wife died, her mother turned on me — and presented me with a secret will Paul Colaianni, author of 'The Overwhelmed Brain,' writes on his blog about relationship con artists. He writes: 'Their stories are often the same: 'I felt like I met my soulmate. I was showered with compliments and gifts. We would talk about our future and I fell for him/her fast. We dated for a few months then moved in together. It was a dream come true. Then one day…'' 'The 'then one day' comment is usually the moment they saw their new partner's true colors. From there, their stories often sound like this: '…then one day, they got upset that I wanted to go see my mom for the weekend …then one day, they made a comment about my weight … then one day, they acted jealous that I wanted to spend time with my friends.'' 'They put you through a 'grooming' and 'conditioning' process,' he adds. 'You get groomed into loving and trusting someone that plans to turn against you after they know you are loyal to them. They make you believe they are kind, supportive, and loving. You get conditioned into believing that they are really there for you and have your best interest in mind.' Sometimes, signing a contract can be too easy, as you experienced with your divorce papers. This happened to another letter writer whose husband offered the house they lived in. However, due to his far greater salary, she would have thrown away a lot more money in terms of retirement funds and a house he claimed was in negative equity. Signing certain legal documents requires a witness, which your husband had provided, and they must be undertaken without coercion or undue influence, the signatories must have 'testamentary capacity' and be of sound mind. But it's much harder to successfully argue in court that you felt under pressure and didn't feel like you had time to read the contract. After reading a contract, as you are no doubt aware, you should always have your own attorney read and approve the contract; they should be someone you trust and who can answer all your questions. And if you are still not satisfied? Don't sign it. I hope others find your experience a cautionary tale. And good luck with all of your future pursuits. Previous columns by Quentin Fottrell: My husband will inherit $180K. I think we should invest the money. He wants to pay off his $168K mortgage. Who's right? My boyfriend of nearly 10 years is naming his elderly parents as beneficiaries and giving them power of attorney. Am I right to be upset? 'We have no prenuptial agreement': Will my wife be able to take my money if I transfer it to my retirement account? 'I'm not wildly wealthy, but I've done well': I'm 79 and have $3 million in assets. Should I set up 529 plans for my grandkids? The S&P 500 closes at 6,000 as bulls aim for return to record territory How do I make sure my son-in-law doesn't get his hands on my daughter's inheritance? Circle's stock is having another big day. What the blockbuster IPO has meant for other cryptocurrency plays. 'I was pushed out of her life when she was 18': My estranged daughter, 29, misuses drugs. Should I leave her my Roth IRA?
