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Recently, a U.S. District Court for the Southern District of New
York issued a significant ruling in
In re Nine West LBO
Securities Litigation, Case No. 20-2941 (S.D.N.Y. Dec. 4,
2020) (Rakoff, J.), which could shift the risk of a failed
leveraged buyout (LBO) to a selling corporation s directors.
In
Nine West, the court refused to dismiss a suit
which alleged that the directors of a selling corporation face
personal liability based on claims of breach of fiduciary duty to
the seller corporation, as well as aiding and abetting a breach by