News & Events

At the conclusion of oral argument on February 5, 2010, Judge Christopher Piazza of the Arkansas Sixth Judicial Circuit from the bench dismissed with prejudice all claims asserted in a putative shareholder derivative complaint on behalf of Dillard's Inc. against the twelve members of the Company's Board of Directors. The complaint in Berry v. Dillard, et al. purported to allege on behalf of the Company breach of fiduciary and four related claims against the Board concerning a number of transactions between the Company and affiliates of Board member Warren Stephens, the executive compensation paid to members of the Dillard family and other conduct of the Board. Judge Piazza dismissed the complaint for failure to make pre-suit demand on the Board or allege with particularity that a majority of the Board was unable to exercise disinterested and independent judgment with respect to a demand.

Simpson Thacher represented Dillard's and the Board of Directors in the action.

The STB team consists of Joseph M. McLaughlin, Sara Ricciardi, Andrew Cattell, Alex Simkin and paralegal Stephanie Crosskey.