|Court:||Delaware Court of Chancery|
|Case Leader:||Mark Lebovitch|
On October 2, 2009, the Retirement Board of Allegheny County (the "Retirement Board") filed a derivative action on behalf of United Therapeutics Corporation ("UTHR" or the "Company") related to inappropriate executive compensation. On October 26, 2009, the Retirement Board moved to consolidate its action with a pending derivative action filed by Jeffrey Benison IRA on behalf of UTHR.
On May 4, 2010, Police & Fire Retirement System of the City of Detroit ("PFRS"), represented by BLB&G, joined the pending consolidated derivative action and the Plaintiffs filed an amended complaint. The amended complaint challenged: (i) an ultra vires grant of stock options to UTHR's CEO, (ii) a share tracking awards plan ("STAP") that UTHR implemented without stockholder approval, and (iii) the unjustified repricing of stock options and STAP awards for members of the UTHR Board and senior management.
During briefing of Defendants' motion to dismiss and Plaintiffs' Motion for Partial Summary Judgment, the parties reached a preliminary settlement.
- Awards The National Black Lawyers Association Selects Associate Matthew Traylor for Membership & "Top 40 Under 40" List October 18, 2021 Learn More
- Awards Benchmark Litigation Again Names BLB&G One of the Top Firms in the Nation in 2022 Guide October 5, 2021 Learn More
- Events Katie Sinderson Serves as Panelist at OPFTEC 2021 on "The Role of Securities Litigation in Pension Funds" October 1, 2021 Learn More
- Events BLB&G Partners John C. Browne and Jeremy Robinson Present "Video Depositions: The Case for Their Continued Relevance in a Post-Quarantine World" Webinar October 1, 2021 Learn More
- Events BLB&G Partner Jeroen van Kwawegen Speaks at Broadridge Webinar on "International Opt-In Cases: Evolving Mechanisms for Collective Redress" September 30, 2021 Learn More