There’s only one thing for sure after today’s preliminary injunction hearing in the lawsuit over the merger between Wachovia and Wells Fargo. And that is that Judge Diaz displayed remarkable patience after more than three hours of argument from five different lawyers.
My favorite sound bites from the very long hearing (which are not verbatim
Can it be that the Share Exchange Agreement, which gave Wells Fargo 40% of the voting control over Wachovia stock, is invalid? That’s exactly what the Plaintiff in the shareholder class action asking for an injunction regarding the Wachovia-Wells Fargo merger is saying in his Reply Brief filed yesterday.
In this new argument —
A case does not have to be "complex" in order to qualify for the Business Court’s mandatory jurisdiction. In Johnson v. Johnson, the Court held that:
Plaintiff argues that the legal issues in this matter are not so complex as to warrant Rule 2.1 designation. Yet complexity or the lack thereof is not an issue
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The first round in a trademark dispute between two jewelers over the right to use the name "Windsor Jewelers" went to a WInston-Salem, North Carolina company. Judge Diaz entered a Temporary Restraining Order yesterday in Windsor Jewelers, Inc. v. Windsor Fine Jewelers, LLC, enjoining the Defendants from using the Windsor name for jewelry
The Plaintiff had never signed the agreements containing the arbitration provisions which the Defendant sought to enforce, but the Business Court on November 19 nevertheless granted a Motion to Compel Arbitration in American Drywall Construction, Inc. v. Superior Construction Corp.,
The Plaintiff was a subcontractor, the Defendant was the general contractor. The Defendant prepared
The Court dismissed unfair and deceptive trade practice claims in a dispute among doctors based on the "learned profession" exemption and because the dispute was not "in commerce."
Plaintiff alleged that her partners had forced her out of their medical practice. Judge Tennille (in a very short order), held that "North Carolina Appellate Courts have
The Court of Appeals split yesterday on whether a Plaintiff and his lawyers who continued with a lawsuit after they should have determined that it was not well grounded in fact or law could be hit with non-monetary sanctions. The majority reversed, saying that the trial court should not have considered events occurring after the
Wachovia has filed its Brief in opposition to Plaintiff’s Motion for Preliminary Injunction, laying out the case why its Board of Directors fulfilled their fiduciary duties in agreeing to the Merger with Wells Fargo.
The principal factual support for Wachovia’s Brief is the Affidavit of Dona Davis Young, a member of the Wachovia Board
This morning on CNBC, North Carolina State Treasurer Richard Moore referred to Wells Fargo’s pending acquisition of Wachovia as a "shotgun marriage," "highway robbery," and as not being fair to Wachovia shareholders.
The State Treasurer has a significant interest in this merger. The North Carolina Retirement System was holding 2,275,664 shares of Wachovia stock as of
If you are following the shareholder class action seeking to enjoin the Wachovia-Wells Fargo merger, Plaintiff filed his Brief in support of his Motion for Preliminary Injunction yesterday.
The focal point of Plaintiff’s argument is that the deal protection devices in the Wachovia-Wells Fargo Merger agreement were too hastily negotiated by the Wachovia board, and