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The Court denied a motion for a preliminary injuction and for appointment of a receiver, where the plaintiff claimed that transfers would be in violation of the Uniform Fraudulent Transfers Act. The Court determined that plaintiff was not a creditor and therefore could not obtain an injunction under the UFTA.  Plaintiff’s alleged equity interest did…

The Court granted the defendant’s motion to stay the action so that a related action pending in New York could proceed, pursuant to N.C.G.S. §1-75.12. The Court considered the following factors: "(1) the nature of the case, (2) the convenience of the witnesses, (3) the availability of compulsory process to produce witnesses, (4) the relative…

The Court considered yet another derivative action plaintiff who had failed to make the demand required under Delaware law. The Court held that the plaintiff had failed to establish demand futility based on his claim that the outside directors were insufficiently disinterested to have properly considered a demand.

Plaintiff’s claim that one of the outside…

Defendant’s counsel had formerly been a lawyer at the law firm of the plaintiff. Plaintiff moved to disqualify him as counsel. Although the firm-changing lawyer had only been minimally involved in the matter before his departure, the Court held that an important factor to be considered was the subjective belief of the client whether the…

The Court dismissed a series of shareholder derivative actions due to plaintiffs’ failure to make the required demand under Delaware law. Since the shareholders did not attack a specific action of the board, the Court undertook to determine "whether any of the directors were rendered ‘interested’ by any of the conduct alleged and, if so…

The Court refused to reconsider its decision that plaintiffs were not entitled to make an unfair and deceptive practices claim. It had previously found that such claims could not be made due to the extensive regulatory scheme surrounding the matters at issue.

The Court did reconsider, however, its determination that the plaintiffs were not entitled…