To answer that questions, one only needs to look at real-life examples of the business world. Right here in Denver parent company of the Denver Post, MediaNews Group, put its neck out there and voiced its outright opposition to Randstad North America Inc.’s $429 million purchase of Monster Worldwide Inc.
MediaNews’s Senior Vice President Joe Anto wrote a letter to Monster stating that Randstad’s $429 million offer for the company was too low. MediaNews owns approximately 11.6 percent of Monster’s stock. Additionally, Anto claimed Randstad’s “$3.40 per share deal would represent the textbook definition of selling at the bottom.”
Additional Transaction Details and Allegations of the Monster Acquisition
The following transaction details and allegations of the acquisition of Monster by Randstad were collected from media reports:1
- MediaNews claimed Monster’s share price could go as high as $8 per share within 18 months following the sale.
- “(Monster’s shares) woefully underperformed versus its peers and the market over any relevant period of time,” Anto stated in a letter to Monster’s board.
- As a result of the undervalued purchase and to reduce expenses, MediaNews reported that Monster could cut anywhere from 1,600 to 3,700 jobs to try and recoup $136 million.
- The letter to the board members also claims that Monster has too many layer of management and support, as well as too large of a sales force.
- Anto alleged that Monster is in too many money-losing international operations
When is it Appropriate to Sue a Board of Directors?
Obviously, board of directors of any company wield quite a bit of authority over the company operations, and they are beholden to shareholders. Shareholders represent partial ownership stake in those companies, and when the board of directors makes poor business decisions the shareholders have every right to display their disdain and possibly even take legal action to correct any infraction.
Here is a list of fiduciary duties that boards of directors are typically subject to:
- Board of directors have a duty of care they must exemplify when managing company or corporate affairs and assets.
- Board of directors have a duty of loyalty to avert undisclosed conflict of interest.
- Individual board members cannot undertake actions for self-profit on behalf of the company.
- Board of directors should also never take advantage of business opportunities as a result of their relationship to the company/corporation.
Contact a Denver Business Attorney at Downey & Associates, PC
Has your board of directors taken an action that either profited its members or unknowingly hurt the bottom line of your company or corporation? If so, you can count on a Denver Business Attorney with Downey & Associates, PC. Since 1983, Thomas Downey and the legal team at Downey & Associates, PC, have been exhibited exceptional legal representation for their clients in all manner of business-related matters, including contract negotiations, workplace accidents, and corporate conflicts.
For a free, no-hassle consultation about our legal services, please call our Denver business attorney today at (303) 647-9399 or by emailing us using the contact form on this page.
From our law offices in Englewood, we serve clients throughout Colorado and the U.S.
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1“Denver Post parent company vehemently opposes Randstad’s purchase of Monster” published in Denver Business Journal, Sept. 2016.
If you have been a Denver Metro area resident for more than five or ten years, you can attest to the fact that Denver’s housing situation has become a big issue. Well, it seems everyone and their dog wants to move to Denver from all corners of the nation, which begs the need for high-density, affordable housing in the downtown area. At the center of this issue is how Denver will spend $150 million in funds approved in 2016.
The Denver City Council put together an extensive plan called "Housing an Inclusive Denver," which details how some of that funding will be allocated.1
The following Denver Council has driven affordable housing project plan funding information was gathered from local news stories:2
Well, anything is possible in terms of impending lawsuits against the City of Denver over the affordable housing plan. Below is a list of valid concerns citizens have raised over the affordable public housing plan:
Do you have a group of concerned citizens that want to sue a government entity? Is so, perhaps you should consult with Denver Business Attorney Thomas E. Downey. Since 1983, Thomas Downey and the other legal professionals at Downey & Associates, PC, have been providing legal representation to clients for all kinds of business-related matters, including government litigation, contract negotiations and corporate conflicts.
To set up a meeting with our Denver business attorney today, call (303) 813-1111 or email us using the contact form on this page.
From our law offices in Englewood, we serve clients throughout Colorado and the U.S.
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1"Denver's New Affordable Housing Plan Details How It Might Spend Its $150 Million Fund" published in the Denver Post, Sept. 2017.
2“Denver’s $150M tax-and-fee plan for affordable housing heads to full City Council for debate” published in the Denver Post, August 2016.
Everyone knows there’s big money in black gold (oil) and companies’ eager to get at this natural resource don’t take too kindly to the roadblocks they hit along the way. In this particular case (State of Wyoming et al v. Jewell et al [No. 16-8068]), a federal judge in Wyoming is getting a little bit of push back from the federal government as well as some legal professors about one of his controversial rulings blocking federal rules surrounding hydraulic fracturing on government ground.
The Bureau of Land Management (BLM) disclosed rules in 2015 that mandated that drilling companies disclose the materials they inject into the ground to free up oil and gas. The rules were put together as a result of public concern that fracking could pollute or contaminate underground water.
The following details and claims were gathered from local news reports:1
Many legal pundits thought that since Obama personally filed a brief, along with that of a large number of reputable law professors, that it would have ensured an overturning of the ruling. However, new developments could redirect the ruling, including:2
Has your corporation or industry been hindered by a wrongful court ruling? If so, contact Denver Business Attorney Thomas E. Downey. Since 1983, Thomas Downey and his legal team at Downey & Associates, PC, have aggressively sought justice for all kinds of business-related matters, including contract negotiations, workplace accidents, and corporate conflicts.
Our Denver business attorney is experience handling complex corporate matters and un-judicious court rulings. We are up to the challenge of filing court appeals and fighting out long-drawn courtroom battles to achieve the best possible outcomes for our clients.
Why wait, call our Denver business attorney today to find out how we can assist you at (303) 813-1111 or by emailing him using the contact form on this page.
From our law offices in Englewood, we service clients in Colorado as well as throughout the U.S.
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1“Feds, law professors say judge wrong to block fracking rules” published in The Denver Post, August 2016.
2"Former DOI Honchos Urge 10th Circ. To Hear Frack Rule Case" published in 360 Law, June 2017.
Who knew this sleepy-town family court judge would one day be the center of contention surrounding a multi-million-dollar lawsuit. Well, it appears Los Angeles superior court Judge Yvette Plazuelos has ruled that Judge Judy Sheindlin’s agent, Rebel Entertainment Partners, can go ahead with their lawsuit against CBS television.
Unless there is some sort of pre-trial resolution, the trial is set for October 23, 2017.
The following case details and allegations surrounding Judge Judy’s controversial salary case were gather from new reports and court documents:1
Before you close a big deal between two separate companies or entitles. it’s important that you draft up and make a contractual binding profit agreement, so that there’s no disputes further down the road. Here’s a few things to keep in mind when wanting to make a profit sharing agreement:
Does your business agreement or partnership need a profit sharing agreement? If so, contact Denver Business Attorney Thomas E. Downey. Since 1983, Thomas Downey and his faithful legal team at Downey & Associates, PC, have been providing legal representation to business clients for all kinds of business-related matters, including partnership agreements, profit sharing agreements and contract negotiations.
Let us take the hassle out of drafting complicated business agreements, call our Denver business attorney today at (303) 813-1111 or by email him us using the contact form on this page.
We’re based in Englewood, but we serve clients throughout Colorado and the U.S.
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1“Judge Judy's $47m salary at the center of lawsuit against CBS” published in the Guardian, July 2016.
2“CBS Sees ‘Judge Judy’ Lawsuit Over $47M Salary & Profits Get Trial Date” published in Deadline, July 2016.
The family of the late reggae superstar Bob Marley recently won $2.4 million in a trademark infringement lawsuit over the coffee brand carrying the family’s name. At issue, says parent company Jammin Java, is the fact that the family decided to nullify its contractual obligation with the coffee brewing company founded in 2007 by former chairman Rohan Marley, one of Bob Marley’s 11 children. Jammin Java counter sued for breach of contract.
“The viability of Jammin Java’s entire business is wholly dependent on its right to utilize the Marley Coffee brand name and other intellectual property owned by (the Marley family),” read the filing by Jammin Java president Anh Tran.
The following Marley Coffee lawsuit case details and allegations were gathered from news reports, press releases and court documents:1
U.S. District Court judge Stephen V. Wilson declared that that since Jammin Java did not to show any costs associated with the trademark, the damages award is the full gross revenue made from the Marley Coffee products.
Has your company or group of investors experienced a breach of contract over a business dealing? If so, Denver Business Attorney Thomas E. Downey can help you get the matter worked out for the best possible outcome. Since 1983, Thomas Downey and the legal team at Downey & Associates, PC, have been providing legal representation to clients for all kinds of business-related matters, including contract negotiations and mediations.
Call our Denver business attorney today to see how we can provide you with legal assistance at (303) 813-1111 or by emailing us using the contact form on this page.
Our law offices in Englewood, but we also service clients throughout state and the U.S.
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1“Jammin Java Corp. Issues Shareholder Letter Regarding State of the Business and Providing a Litigation Update” published in the Global News Wire, August 2016.
2"Hollywood Docket: Bob Marley Coffee, Kardashian Beauty and Spotify's Settlement" published in The Hollywood Reporter, June 2017.
If you are a die-hard Denver Broncos fan, this one will be music to your ears. It seems a bankruptcy judge has granted a request from Sports Authority to transfer the naming rights of Mile High Stadium back over to the Denver NFL football team. Sports Authority Holdings, Inc. failed to make its last contract payment and then made the name grant request.
The Broncos were in a position to pay out $19.9 million to buy out the last five remaining years of the contract, which the judge would have had to sign off on.1 However, after Sports Authority defaulted on their contractual payment court records show that Sports Authority made the name transfer request in Delaware, which is where it filed for bankruptcy protection back in March of 2016.
Obviously, most Denver Broncos fans would like the team and the Metropolitan Football Stadium District to keep the name “Mile High Stadium” as part of the namesake. Some Broncos fans have even proposed naming the stadium after its long-time, ailing owner, Pat Bowlen.
The Broncos plan to keep the Sports Authority name in place until they can work out a long-term deal with another sponsor to help generate stadium revenue. The stadium’s manager, the Metropolitan Football Stadium District, has indicated that they need a long-term, sponsored naming contract in place to help with facility improvements. The Broncos sold the naming rights to Invesco in 2001 for $120 million. Sports Authority acquired the naming rights in 2011, when it inked a 25-year contract deal for $6 million per year. Apex Marketing Group Inc., a St. Clair, Michigan-based sports marketing firm, puts the estimated value of Mile High’s naming rights at a little more than $15 million per year.2
"What’s the big deal about naming or branding a stadium?" you may ask. Well, to the fans of their beloved Denver Broncos, who enjoy one of the most successful NFL franchises in the history of football, it's a very big deal. The original stadium name of Mile High is derived after the city itself, which also has the nickname of the “Mile High City,” and there's even has a plaque on the steps of the State Capitol building to prove it.
So, when the Broncos sold the naming rights to the newly constructed stadium many fans were less than pleased. In fact, the Denver Post and its columnists refused to utter the name “Invesco” in its news copy when referring to Mile High Stadium, and instead referred to it as its old name. It took several years before the Denver Post changed its policy and began referring to the stadium as Invesco Field at Mile High.
Here are some of the stadium’s previous names:
Is your business in a contentious contract, sponsorship, or naming dispute? If so, call on the legal expertise of Denver Business Attorney Thomas E. Downey. Since 1983, Thomas Downey and his team of legal professional at Downey & Associates, PC have been providing legal representation to clients for all kinds of business-related matters.
Our Denver business attorney and legal team have extensive experience handling complex matters of corporate and real estate law. Our clients can also trust that we will aggressively protect their rights and help them achieve the best possible outcomes in their sensitive legal matters.
Call our Denver business attorney today at (303) 813-1111 or by emailing us using the contact form on this page. From our law offices in Englewood, we serve clients throughout Colorado and the U.S.
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1“It's official: Broncos intercept naming rights at Sports Authority Field” published in Denver Business Journal, August 2016.
2“Stadium district in waiting game over disposition of Sports Authority’s Mile High Stadium naming rights” published in the Denver Post, June 2016.
Acquiring real estate is a lot like dating, and then getting married. You get the opportunity to check the place out and see if you like it, then you seal the deal. But, just like getting married, many investors tend to find out about some skeletons in the closet that can turn out to make your life difficult.
We’ve all heard stories about some of these ghosts and goblins hiding in the most unsuspecting places. For instance, one investor acquaintance of mine picked up a lot that was prime for development in the perfect location of a town, but the only problem was there was an old fuel tank buried underground on the back of the property. The cost to evaluate the environmental impact, and then remove the tank made the investment look pretty terrible, actually.
In this blog, we’ll look at five of the most common mistakes made when making a real estate deal:
Real estate transactions and property disputes involve risks, which is why you need Denver Business Attorney Thomas E. Downey, who is trusted, knowledgeable, and experienced. Since 1983, Thomas Downey and the legal team at Downey & Associates, PC, have been providing attentive and knowledgeable legal counsel on how to handle your real estate matters.
Working with our team, located in Englewood, you’ll save money, time, and worry. Our aggressive professional advocacy team handles the following types of services: business and commercial disputes, antitrust litigation, real estate matters, personal injury (both plaintiff and defense), product liability, property tax, employment law, and OSHA/MSHA conflicts.
To schedule a free, no-obligation consultation, call (303) 813-1111 or by emailing us using the contact form on this page.