Coral Capital Partners takes a look at a recent Delaware Court ruling in favor of Looser Pays ByLaws, and provides our thoughts and experience on how they can benefit corporate governance and help protect shareholders.
Tag: UCC 8-403
Section 403 of Article 8 of the Uniform Commercial Code (UCC) addresses a demand that an issuer not register transfer shares. This demand may be made only by an appropriate person to make an indorsement on a certificate. The purpose of this section is to protect shareholders who loose or misplace stock certificates. Our blog on this topic addresses issues relating to Section 403 of Article 8 of the Uniform Commercial Code (UCC).
Trial Brief – Uniform Commerical Code: UCC 8-401
As a general rule, simple disputes involving securities relating to Article 8 are normally litigated in state courts, which can be far more difficult to research than the federal court system. Based upon our research, it appears that litigation involving Article 8 of the UCC in the Federal Court system is relatively rare. As result, we have decided to publish the Trial Brief of our litigation against Sun River Energy, Inc. involving a dispute involving Article 8, Section 401 of the UCC. Hopefully, this provide some useful information to anyone who is involved in a dispute over the removal of a restrictive legend and Article 8, Section 401, UCC 8-401.
Coral Capital Partners Victorious in Sun River Energy Litigation
Coral Capital Partners details the history and the outcome of its litigation with Sun River Energy, Inc. Civil Action No. 11-CV-00198-MSK-MEH In early 2011 Sun River Energy attempted to prevent us from selling shares of its common stock we were legally issued and entitled to sell. This litigation should have been a simple issue regarding UCC 8-403 to be decided by the court. However, Sun River Energy struck first with numerous frivolous and meritless claims, and we feel compelled to set the record straight.