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Paul, Weiss is widely recognized as having one of the nation’s preeminent securities litigation and regulatory practices. For two decades, our lawyers have guided global corporations and financial institutions through a series of “bet-the-company” securities-related crises, consistently reducing or eliminating their most damaging claims and negotiating favorable resolutions.

Oaktree Capital Wins Dismissal of All Claims in Shareholder Derivative Action

Paul, Weiss client Oaktree Capital Management and several other defendants obtained a victory when Judge Analisa Torres of the Southern District of New York dismissed all claims in a shareholder derivative suit brought by F5 Capital Management in relation to the merger of Star Bulk Carriers Corporation and Oceanbulk Shipping LLC. The plaintiff brought three derivative claims for breaches of fiduciary duty and corporate waste, and a direct claim on behalf of a putative class for dilution. Judge Torres held that the plaintiff failed to plead demand futility or overcome the business judgment rule and thus granted the motion to dismiss without leave to amend.

The Paul, Weiss team included litigation partners Andrew Ehrlich and Gregory Laufer. Corporate partners Kenneth Schneider, Lawrence Wee and Ellen Ching were involved in the underlying transactions and provided assistance to the litigation team.

February 18, 2016

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