“[Impeachment] will seldom fail to agitate the passions of the whole community, and to divide it into parties more or less friendly or inimical to the accused . . . [T]here will always be the greatest danger that the decision will be regulated more by the comparative strength of parties, than by the real demonstrations…
Tag: Fiduciary Duties
Fujifilm Suit; Activist Hedge Fund Concerns
In early February, activist hedge fund investor Darwin Deason filed a lawsuit against the well-known company Xerox1 The basis of the lawsuit stems from Xerox’s proposed merger with Fujifilm, which would lead to the creation of a new entity called, Fuji Xerox, and give Fujifilm a 50.1% stake in the created entity.2. Deason filed the…
PROMESA and Puerto Rico’s Fiduciary Duties
On May 3, 2017, the Commonwealth of Puerto Rico declared bankruptcy under the Puerto Rico Oversight, Management, and Economic Stability Act (“PROMESA”).1 Puerto Rico is now in the unique position of being the first U.S. territory to ever declare bankruptcy. Local governments have been bankrupt before with Detroit being a notable recent example.2 In fact,…