David Wales Discusses Shareholder Derivative Litigation at New York City Bar Center
February 28, 2013
BLB&G partner David Wales participated in the program “Litigating Corporate Governance: Recent Developments in Shareholder Derivative Litigation & Merger Related Litigation,” on Thursday February 28, 2013 at the New York City Bar Center.
Mr. Wales joined a panel of expert legal practitioners to discuss pre-litigation considerations for shareholders as well as issues regarding demand and demand futility, books and records actions, multi-forum disputes and the demand and special committee processes. The panel also focused on the courts' treatment of merger and FCPA-related cases; litigation developments in the financial services industries; say-on-pay litigation; and the presumption of inadequacy in the absence of a books and records demand found in In re Allergan Shareholder Derivative Litigation.
An experienced trial and appellate attorney, Mr. Wales prosecutes class and private actions in both federal and state courts, specializing in complex commercial and securities litigation, as well as arbitrations. He has taken more than 15 cases to trial, including obtaining a jury verdict for more than $11 million in a derivative action against the general partner of a hedge fund, and a multi-million dollar class action settlement with an accounting firm reached during trial.