News & Events

On September 30, 2010, Judge Brian S. Miller of the United States District Court for the Western District of Arkansas issued an Opinion and Order dismissing on issue preclusion grounds 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 Harben v. Dillard, et al. purported to allege on behalf of the Company breach of fiduciary and 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 Miller dismissed the complaint on the ground that a prior dismissal the Firm obtained in Arkansas state court of similar claims brought by a different shareholder precluded the assertion of the claims in federal court.

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

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