1. SDNY Denies Motion to Dismiss Breach of Fiduciary Duty Claims Against Former Directors

    SDNY Denies Motion to Dismiss Breach of Fiduciary Duty Claims Against Former Directors

    On December 4, 2020, Judge Rakoff of the Southern District of New York denied a motion to dismiss breach of fiduciary duty claims against former directors of Jones Group (the predecessor to Nine West). The lawsuit arises from the board of directors’ approval of a buyout transaction that distributed $1.2 billion to Jones Group shareholders, while allegedly rendering the company insolvent...

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