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Federal Arbitration Act Preempts Conflicting California Law Exempting from Arbitration Claims for Public Injunctive Relief

On November 1, 2013 by Schnader in schnaderfsb.com

By Melissa Lor Consistent with the preemption principle of the U.S. Constitution’s Supremacy Clause, the Ninth Circuit recently held that the Federal Arbitration Act preempts California’s so-called Broughton-Cruz rule, which exempts claims for “public injunctive relief” from arbitration. In Ferguson v. Corinthian Colleges, former students of for-profit schools owned by Corinthian […]

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Delaware Supreme Court confirms that fraud exception to continuous ownership rule is very narrow

On October 22, 2013 by Schnader in schnaderfsb.com

By Patrick M. Horan Under Delaware’s continuous ownership rule, in order to bring and maintain a derivative action, a shareholder “must not only be a stockholder at the time of the alleged wrong and at the time of commencement of suit but … must also maintain stockholder status throughout the litigation.”  […]

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