Matthews Quoted on Shareholder Lawsuit Win

Partner Michael Matthews was quoted in Am Law Litigation Daily article, “Shout-Out: Foley Wins Dismissal in Case That Could Re-Shape Shareholder Suits,” on October 18, 2015. The article discussed a recent lawsuit that resulted in Emergent Capital Inc. upholding a bylaw that requires plaintiffs to obtain consent from 3 percent of the company’s shareholders before filing a shareholder suit. Matthews was quoted saying, “We were honored to defend the first case nationwide to challenge a minimum-support-to-sue bylaw, and we commend Phillip Goldstein and Emergent’s board of directors for having the foresight and fortitude to take decisive action to protect shareholder value.”