A Wheeler Real Estate Investment Trust shareholder who served as its CEO before allegedly being forced out has adequately alleged a breach of fiduciary claim against company directors, a federal court ruled.
Daniel Khoshaba can also proceed with proposed class claims against several hedge funds allied with one member of the board for aiding and abetting the alleged breach, Judge Mark S. Davis said Sept. 13 for the US District Court for the Eastern District of Virginia.
But Khoshaba’s class claims for unjust enrichment fail, as do all his derivative claims, Davis said, denying in part a defense motion to ...
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