Hannah Bleak

Document Type

Case Summary

Publication Date

6-6-2024

Case Synopsis

The Court finds that PAMTP’s claims are not direct because stock dilution is exclusively derivative and their control was not shifted from a group of investors to a single controlling stockholder and PAMTP consists only of former stockholders so they cannot bring derivative claims. Thus, the Court affirms the district court granting judgment pursuant to NRCP 52(c). Next, the Court finds it was an abuse of discretion for the district court to award pre-litigation costs because PAMTP intended to forgo benefits of the settlement. Finally, the Court reverses the Court reverses the district court’s order denying respondents’ request for attorney fees and remand to the district court to determine the amount that should be awarded. The Court found that the district court erroneously shifted the burden to the respondents and considered PAMTP’s costs when they were not at issue.

Download

Share

COinS