Going for the Green: Investors Seek Win in Second Circuit

In 2014, shareholders of the for-profit corporation Winged Foot Holding Company (WFHC) filed suit alleging the company had breached its fiduciary duty under New York Business Corporation Law Section 720 and unjustly enriched itself. This suit stems from the WFHC Directors’ 2013 extension of a 1947 lease agreement to use the golf club grounds. Under the lease agreement, the annual rental payment is $30,000.

In their complaint, filed with the U.S. District Court for the Southern District of New York, the shareholders alleged that WFHC’s …

June 26, 2013 NFL

Steelers’ Proposed Seat Expansion Sacked by Judge

On Wednesday, June 19, 2013, a Pennsylvania judge rejected the Pittsburg Steelers’ request to force Heinz Stadium’s owner to pay for part of a proposed seat expansion. The Steelers contended the Pittsburg-Allegheny County Sports & Exhibition Authority (Authority) was required to pay two-thirds of the 3,000 seat, $30 million dollar expansion. The Steelers filed a partial summary judgment motion to resolve the expansion funding before trial. The judge dismissed the motion saying that the Steelers failed to prove the requirements necessary by the plain language …