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Legal Articles: Sullivan & Cromwell LLP

 







Document(s) published by this organization: 134


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Adobe PDFSupreme Court Rules on Statute of Limitations for Claims Against Plan Fiduciaries: Statute of Limitations for ERISA Fiduciary Claims Can Run From the Date of a Failure to Monitor Investments, Not Merely From the Date of the Initial Investment Decision
Sullivan Cromwell LLP;
Legal Alert/Article
May 28, 2015, previously published on May 19, 2015
Yesterday in Tibble et al., Petitioners v. Edison International et al., the U.S. Supreme Court ruled that the six-year statute of limitations for claims against ERISA fiduciaries runs from the date of a failure to monitor investments, and not simply from the date of the initial investment decision....

 

Adobe PDFCFPB and FCC Bring “Cramming” Actions Against Sprint and Verizon: Actions Represent First CFPB Settlements To Address Unauthorized Charges on Telephone Bills and First Concurrent Enforcement Proceedings by the CFPB and FCC
Darrell S. Cafasso, H. Rodgin Cohen, Mitchell S. Eitel, Robert J. Giuffra, Sharon L. Nelles; Sullivan & Cromwell LLP;
Legal Alert/Article
May 28, 2015, previously published on May 19, 2015
On May 12, 2015, the CFPB and the FCC (together, the “Agencies”) concurrently announced that Verizon Wireless (“Verizon”) and Sprint Corporation (“Sprint” and, together with Verizon, the “Companies”) have agreed to pay a combined $158 million to...

 

Adobe PDFIn re Cornerstone Therapeutics Inc. Stockholder Litigation: Delaware Supreme Court Holds That Plaintiffs Seeking Monetary Damages Must Plead Non-Exculpated Claims Against Disinterested Directors to Survive Motion to Dismiss by Those Directors
Francis J. Aquila, Audra D. Cohen, H. Rodgin Cohen, Mitchell S. Eitel, Brian T. Frawley; Sullivan & Cromwell LLP;
Legal Alert/Article
May 28, 2015, previously published on May 18, 2015
In a decision1 issued on May 14, 2015, the Delaware Supreme Court held that a plaintiff seeking only monetary damages against a director who is protected by an exculpatory charter provision must plead duty of loyalty/bad faith claims to survive a motion to dismiss, regardless of the underlying...

 

Adobe PDFSEC Issues Guidance on Approach to Forum Selection in Contested Actions
Nicolas Bourtin, David H. Braff, Justin J. DeCamp, Robert J. Giuffra, Sharon L. Nelles; Sullivan & Cromwell LLP;
Legal Alert/Article
May 27, 2015, previously published on May 11, 2015
The SEC’s Division of Enforcement has issued guidelines explaining the factors it will consider in determining whether to bring enforcement actions as administrative or judicial proceedings. The SEC recently has been criticized for its increased use of administrative proceedings to resolve...

 

Adobe PDFEU Law: European Court Limits Private Parties’ Standing to Challenge EU Regulatory Acts
Juan Rodriguez; Sullivan & Cromwell LLP;
Legal Alert/Article
May 27, 2015, previously published on May 11, 2015
In its judgment on 28 April 2015 in T & L Sugars Ltd, Sidul Açúcares, Unipessoal Lda v European Commission (Case C-456/13 P), the Court of Justice of the European Union gave authoritative interpretation of the concept of “implementing measures” for the determination of...

 

Adobe PDFSenate Regulatory Relief Proposal: Banking Committee Chairman Releases Discussion Draft of “The Financial Regulatory Improvement Act of 2015”
Whitney A. Chatterjee, H. Rodgin Cohen, Elizabeth T. Davy, Mitchell S. Eitel, Michael T. Escue; Sullivan & Cromwell LLP;
Legal Alert/Article
May 21, 2015, previously published on May 13, 2015
Yesterday afternoon, Senate Banking Committee Chairman Richard Shelby (R-AL) released a discussion draft of “The Financial Regulatory Improvement Act of 2015” (the “Discussion Draft”). This proposed legislation would significantly amend certain aspects of the Dodd-Frank Wall...

 

Adobe PDFRestructuring: More Clarity for Delaware Directors When Considering Restructuring Transactions
Francis J. Aquila, Audra D. Cohen, H. Rodgin Cohen, Andrew G. Dietderich, Mitchell S. Eitel; Sullivan & Cromwell LLP;
Legal Alert/Article
May 21, 2015, previously published on May 14, 2015
In Quadrant Structured Products Co., Ltd. v. Vertin (May 4, 2015) (“Quadrant”), the Delaware Court of Chancery confirms - again - that ordinary corporate fiduciary duties govern the conduct of directors of an insolvent corporation, rather than a special duty to creditors. The Court also...

 

Adobe PDFDepartment of Justice Announces Settlement to Resolve Discriminatory Indirect Lending Allegations: Department of Justice and Evergreen Bank Group Enter into Consent Order Requiring Implementation of Dealer Compensation Policy and Payment of $395,000 in Consumer Redress
Darrell S. Cafasso, H. Rodgin Cohen, Mitchell S. Eitel, Robert J. Giuffra, Sharon L. Nelles; Sullivan & Cromwell LLP;
Legal Alert/Article
May 21, 2015, previously published on May 12, 2015
On May 7, 2015, the Department of Justice (“DOJ”) announced that it had reached a settlement with Evergreen Bank Group of Oak Brook, Illinois (“Evergreen Bank” or the “Bank”) to resolve allegations of discriminatory lending practices relating to indirect...

 

Adobe PDFShareholder Activism Update: DuPont Announces Victory in Proxy Fight with Trian
Sullivan Cromwell LLP;
Legal Alert/Article
May 21, 2015, previously published on May 13, 2015
On May 13, 2015, E. I. du Pont de Nemours and Company, a major chemical company with a market cap of approximately $68 billion, defeated a proxy campaign run by Trian Fund Management, L.P., the activist fund led by Nelson Peltz that owns approximately 2.7% of DuPont. Trian was seeking four seats on...

 

Adobe PDFRe-Proposed DOL “Investment Advice” Rule Would Expand Who is a Fiduciary and Substantially Change the Provision of Financial Services to Plan and IRA Investors: Regulation Would Likely Limit the Scope of  Financial Services Available to Plans and IRAs, Unless the Plans and IRAs Are Given New Contractual Protections
Matthew M. Friestedt, Jeffrey D. Hochberg, Andrew S. Mason, David J. Passey, Max J. Schwartz; Sullivan & Cromwell LLP;
Legal Alert/Article
May 11, 2015, previously published on April 29, 2015
On April 14, 2015, the Department of Labor (“DOL”) proposed a regulation (the “Proposed Regulation”) defining the circumstances in which a person will be treated as a fiduciary under both the Employee Retirement Income Security Act of 1974 (“ERISA”) and Section...

 


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