The first shareholder case in the USA was the suit filed by Peter Lovenheim of the Humane Society of the U.S. against Iroquois Brands in 1985. The company argued that Foie Gras was too small a part of their business to be the focus of a shareholder lawsuit but the SEC disagreed and held that the shareholder action could proceed.
The first shareholder case in the USA was the suit filed by Peter Lovenheim of the Humane Society of the U.S. against Iroquois Brands in 1985. The company argued that Foie Gras was too small a part of their business to be the focus of a shareholder lawsuit but the SEC disagreed and held that the shareholder action could proceed.
Andrew Rowan, WellBeing International
Oh, that’s an interesting case that I hadn’t heard of! Nice, it seems to have been successful as well. Thanks for your comment, Andrew.
For others who are curious, this paper discusses the case: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1467949