Articles Tagged with Inc.

photo-suing-supplier-300x199No business is an island. Without trusted suppliers businesses would close shop. What happens when that trust is breached and you’re left holding the bag? If disagreements can’t be worked out and your company is facing or may face a serious loss as a result you may want to consider legal action against a supplier or former supplier.

Huy Fong Foods Inc., based in Irwindale, makes the Sriracha brand hot sauce from chiles (which are peppers). Without chiles there is no Sriracha but that hasn’t stopped the company from suing its chile supplier, Underwood Ranches, based in Camarillo, according to NBC4. Underwood’s website describes the company’s history and its current business including, “Today the farm grows red jalapeños for Huy Fong Foods…”The two companies have had a relationship for thirty years.

Underwood is being sued for breach of production agreement, breach of contract and civil theft. The complaint alleges,

photo - corp. voting by Kristin AuskWhen it comes to shareholder voting, what votes are counted how can mean all the difference between a measure being approved or not. Over time if a measure failed in the past, if voting standards are changed, those in favor of it may be in the majority in the future and rule the day.

Nabors Industries’ shareholders approved a shareholder proposal to exclude broker nonvotes from the company’s voting calculation in June.

  • The proposal was introduced by the California Public Employees’ Retirement System (“CalPERS”). There were close votes on shareholder proposals submitted at last year’s annual meeting.
  • Last year’s proposals didn’t receive majority support under the company’s methodology of including broker nonvotes. They would’ve received a narrow majority if broker nonvotes were excluded.

Cheniere Energy, Inc., postponed its annual meeting scheduled in June due to a lawsuit by a shareholder. The legal action seeks recovery of shares of stock that were awarded under the company’s incentive plan last year.

  • The shareholder alleges the plan did not receive enough shareholder approval because the company did not count abstentions as a “no” vote as the shareholder claims is required under Delaware law.
  • The Wall Street Journal reports that the company canceled the compensation plan proposal at issue and has sought dismissal of the lawsuit, stating “the vast majority of the plaintiff’s claims are moot” with the cancellation of the proposal.

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