Derivative Litigation On Behalf of Not-For-Profit
Jan 01, 2011OUTCOME: http://cityroom.blogs.nytimes.com/2011/07/22/settlement-ends-bitter-infighting-at-a-fraternity/
Daniel Graber was retained to pursue derivative claims on behalf of Tau Epsilon Phi (TEP), a national fraternity founded at Columbia in 1910, against its board of directors after the organization refus ... ed to hold an annual meeting and election for more than a decade while the officers’ salaries more than doubled. Despite the fact that similar claims brought by a different law firm had been dismissed less than 2 years earlier, we persuaded the court to appoint former Attorney General Robert Abrams as receiver, resulting in a settlement which provided for the resignation of the full board and recovery of monetary damages for the fraternity.
