Nevada Supreme Court Upholds Blue Penciling Of NonCompete

In Golden Road Motor Inn, Inc. v. Islam, 132 Nev. 476, 488, 376 P.3d 151, 159 (2016), the Nevada Supreme Court held that district courts cannot, on their own, blue-pencil a noncompetition agreement to remove unreasonably restrictive, and thus...

Nevada Finds Disgorgement Is No Penalty

In 2017, the U.S. Supreme Court held that disgorgement in an SEC enforcement action is subject to the five-year limitations period in 28 U.S.C. § 2462 that applies to an "action, suit or proceeding for the enforcement of a civil fine, penalty or...

Internal Affairs Doctrine Blocks Indemnity Claim

Section 78.7502 of Nevada Revised Statutes broadly authorizes, but does not require, a corporation to indemnify its directors, officers, employees or agents.  NRS 78.751 requires the corporation to indemnify directors, officers, employees or agents...

Court Finds Nevada Corporate Law To Be No Bar To Alter Ego Claim

The gist of an alter ego claim is that that there is no separation between the corporation and its owners.  As a result the distinct personality of the corporation may be disregarded and the shareholders held to account for the corporation's...

The General Corporation Law That Doesn't Exist

Consider the following excerpts from recent filings made with the Securities and Exchange Commission:

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