City of Hialeah Employees Retirement System V. Begley, Et Al.
Bernstein Liebhard represents the City of Hialeah Employees Retirement System in a derivative action entitled City of Hialeah Employees Retirement System v. Begley, et al., No. 2017-0463-JTL (Delaware Court of Chancery). The City of Hialeah alleges that certain current and former directors of DeVry Education Group (“DeVry”) breached their fiduciary duties to DeVry by allowing and approving a misleading advertising campaign. The Federal Trade Commission (“FTC”) instituted proceedings against DeVry for misleading students through the campaign. After a federal judge upheld the FTC’s claims, DeVry settled with the FTC for $100 million. The City of Hialeah alleges that the directors’ breaches of fiduciary duties caused DeVry to suffer harm comprised of, inter alia, the $100 million settlement with the FTC.