Special Committee, company, and officers of United PanAm Financial Corp. involved in shareholder class action suit for breach of fiduciary duty
Clients United PanAm Financial Corp.
Jones Day represented the Special Committee, company, and officers of United PanAm Financial Corp. in a class action for breach of fiduciary duty arising from a going private transaction by the company's chairman in December 2010. A dismissal was obtained on behalf of the client at the pleading stage. The case was then affirmed by the Court of Appeal, eliminating damages in merger litigation for California corporations.
In re United PanAm Financial Corp. Shareholder Litigation, No. 30-2011-00439984-CU-SL-CXC (Sup. Ct. Orange Cty., Cal.)