Delaware

  • April 19, 2024

    Casino SPAC Can Return Money, Not Shares, Chancery Rules

    Stockholders in a blank-check company that failed to merge with a Philippines-based casino are entitled to a distribution from $37.5 million sitting in trust, but the company may not redeem any shares until an investor's Delaware lawsuit plays out, a Chancery Court vice chancellor said Friday.

  • April 19, 2024

    Creditor Committee Backs Yellow In Pension Fund Fight

    The official committee of unsecured creditors in Yellow Corp.'s Chapter 11 bankruptcy has largely backed an objection from the debtor to several pension plans' claims for retirement-fund withdrawal liability, while saying it hopes the issues can be resolved quickly to reduce costs.

  • April 19, 2024

    Student Housing Co. Founder Claims She Was Pushed Out

    A co-founder of a global company formed to provide booking for student housing sued her former colleague in Delaware's Court of Chancery on Friday, alleging a scheme by insiders to push her out of the business and then line up a sale to avoid a judgment after the move's reversal.

  • April 19, 2024

    Bankruptcy Bill Seeks To Aid Sex Abuse Victims

    A bill introduced in the U.S. House of Representatives would help sexual abuse victims by limiting the ability of their abusers to shield themselves by filing for bankruptcy, according to the bipartisan pair backing the proposed legislation.

  • April 19, 2024

    Del. Justices Revive Margolis Edelstein Malpractice Suit

    Delaware's Supreme Court has reversed a lower-court decision that let Margolis Edelstein off the hook on claims that its incompetence caused GMG Insurance Agency to have to settle a case for $1.2 million, saying more consideration is needed to determine whether the firm was negligent.

  • April 19, 2024

    Hatteras Fund Investors Sue In Chancery After 95% Drop

    Stockholders in a series of funds managed by alternative investment boutique Hatteras Investment Partners LP have launched a proposed class action against the company's board in Delaware's Court of Chancery, alleging breaches of fiduciary duty in conjunction with the funds' liquidation.

  • April 19, 2024

    Potter Anderson Raises Associate Starting Salary To $210K

    In a bid to remain a competitive destination for young attorneys, Wilmington, Delaware-based firm Potter Anderson & Corroon LLP has increased the starting salary for associate attorneys to $210,000 from $190,000, effective immediately.

  • April 18, 2024

    Conoco Tells 3rd Circ. It Can Target Citgo For $8.5B Award

    ConocoPhillips urged the Third Circuit to nix Venezuela's challenge to a ruling paving the way for the oil company's participation in an auction for control of the U.S. oil giant Citgo to enforce an $8.5 million debt, arguing that the country can't prove that it's been acting in bad faith.

  • April 18, 2024

    Chancery OKs Case Lead For Blue Bell Creameries Suit

    A Delaware vice chancellor on Thursday restored a Blue Bell Creameries Inc. stockholder's widow as lead plaintiff in a derivative suit seeking to hold directors and officers of the ice cream company accountable for deadly food-safety oversight failures in 2015.

  • April 18, 2024

    Senate Bill Would Extend Small Biz Ch. 11 Debt Cap Increase

    A bipartisan group of U.S. senators are pushing new legislation that would prevent the current $7.5 million debt eligibility cap for Subchapter V bankruptcies, a simplified Chapter 11 process for small businesses and individuals, from reverting to the previous limit of $2.7 million in June.

  • April 18, 2024

    Investors In Failed Manila Casino Deal Sue For SPAC Shares

    Shareholders in a blank-check company that failed to take a Philippines casino public have intervened in two Delaware Chancery Court lawsuits to recoup their failed investments, with one seeking to litigate damages from the busted $2.6 billion deal and the other pushing for the company's liquidation.

  • April 18, 2024

    3rd Circ. Unclear If 'Session Replay' Web Code Directed At Pa.

    A Third Circuit panel seemed torn Thursday over whether websites like those of Papa John's or Mattress Firm "directed conduct" at Pennsylvania when they ran "session replay" software to track users' visits and whether that gave courts in the Keystone State jurisdiction over users' claims that such tracking violated laws against wiretapping.

  • April 18, 2024

    Biotech Co. NanoString Lands $393M Bid At Ch. 11 Auction

    Scientific instrument maker Bruker Corp. is set to acquire insolvent biotechnology company NanoString for roughly $393 million in cash that would be used to repay creditors under the debtor's recently proposed Chapter 11 plan, a notice filed in Delaware's bankruptcy court shows.

  • April 18, 2024

    3rd Circ. Hesitates To Hear Hunter Biden Appeal In Gun Case

    The Third Circuit suggested it may be premature to hear Hunter Biden's appeal of a Delaware federal court's denial of his three motions to dismiss felony firearm charges.

  • April 17, 2024

    PTC Therapeutics Settles Shareholder Suit Over Director Pay

    PTC Therapeutics Inc. has agreed to corporate governance reforms to settle a derivative shareholder lawsuit challenging its allegedly "lavish" non-employee director compensation awards, according to a stipulation of settlement filed Wednesday in Delaware's Court of Chancery.

  • April 17, 2024

    United Therapeutics Can't Bar Rival Lung Disease Drug

    Repeating himself for the second time in the last several weeks, a federal judge in Delaware on Wednesday said he won't stop a biochemical startup from launching a drug that would compete directly with one of United Therapeutics' biggest pharmaceutical products.

  • April 17, 2024

    RTX Investor Sues Brass In Del. For Better Antitrust Oversight

    A shareholder of RTX has sued the aerospace and defense giant's current and former officers and directors in Delaware's Court of Chancery, accusing them of failing over a period of at least eight years to prevent antitrust violations in the company's hiring practices.

  • April 17, 2024

    Karuna Investor Ends Suit After Bristol-Myers Seals $14B Deal

    A Karuna Therapeutics shareholder has dropped her proposed class action after Bristol-Myers Squibb Co. completed its $14 billion purchase of the biotechology company, a deal the suit alleged was brought about by misrepresentations to investors to gain their support.

  • April 17, 2024

    Chancery Orders Invictus Fund Manager To Hand Over Docs

    A distressed credit and special situations fund that has battled its general partner and investment manager for months to hand over key records and documents won a partial victory in Delaware's Court of Chancery Wednesday when a vice chancellor found "repeated interference" with the fund's rights to information.

  • April 17, 2024

    3rd Circ. Won't Reinstate NJ's 'County Line' Ballot

    The Third Circuit on Wednesday backed a federal judge's order barring New Jersey's long-standing ballot design in the upcoming Democratic primary, finding that the unique design is discriminatory and severely burdens the rights of non-endorsed candidates.

  • April 17, 2024

    Liberty Mutual's Spyware Suit Halted Pending 3rd Circ. Appeal

    A proposed class action accusing Liberty Mutual of using software to track customers' actions on its website without consent was put on hold Wednesday by a Pennsylvania federal judge pending guidance from the Third Circuit in a similar case.

  • April 17, 2024

    Port Authority Worker Takes Race Bias Suit To 3rd Circ.

    A Black woman who claimed the Port Authority of New York and New Jersey didn't promote her because of her race and complaints about discrimination told the Third Circuit on Wednesday that a lower court ignored facts that should have worked in her favor when it dismissed her lawsuit.

  • April 17, 2024

    3rd Circ. Erases $10M Judgment In Car Charities' TM Dispute

    The Third Circuit on Wednesday erased a $10 million judgment awarded to a charity that sells donated cars for children's education, saying a lower court made a series of errors in concluding that unreasonable delays did not bar claims from Texas-based America Can Cars for Kids in a trademark dispute with a similar charity.

  • April 17, 2024

    Jury Says Caterpillar's Interference Cost Equipment Co. $100M

    A jury in Delaware has rejected antitrust claims against Caterpillar but found that the equipment maker caused a defunct importer $100 million in damages by interfering with its contract to sell equipment through an online sales platform.

  • April 17, 2024

    Bankman-Fried Appeal May Cite Unusual Preview Testimony

    Sam Bankman-Fried's appeal of his conviction and 25-year prison sentence may cite a "rather unprecedented" trial procedure in which the FTX founder gave provisional testimony before officially taking the witness stand last year, one of his attorneys said Wednesday.

Expert Analysis

  • Former Minn. Chief Justice Instructs On Writing Better Briefs

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    Former Minnesota Supreme Court Chief Justice Lorie Gildea, now at Greenberg Traurig, offers strategies on writing more effective appellate briefs from her time on the bench.

  • Stay Interviews Are Key To Retaining Legal Talent

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    Even as the economy shifts and layoffs continue, law firms still want to retain their top attorneys, and so-called stay interviews — informal conversations with employees to identify potential issues before they lead to turnover — can be a crucial tool for improving retention and morale, say Tina Cohen Nicol and Kate Reder Sheikh at Major Lindsey.

  • An Overview Of Key Financing Documents In Venture Capital

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    The Delaware Chancery Court’s recent Moelis decision highlights the importance of structuring corporate governance around investor demand, meaning early-stage companies seeking venture funding through sales of preferred stock should understand the legal documents needed to do so successfully, say Daniel Bell-Garcia and Tristan Kaisharis at Winstead.

  • Del. Supreme Court Insurance Ruling Aids In Defining 'Claim'

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    The recent Delaware Supreme Court decision in Zurich v. Syngenta, finding that a presuit letter did not constitute a claim for insurance purposes, sets out a three-factor test to help policyholders distinguish when a demand rises to the level of a claim, says Lara Langeneckert at Barnes & Thornburg.

  • Series

    Spray Painting Makes Me A Better Lawyer

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    My experiences as an abstract spray paint artist have made me a better litigator, demonstrating — in more ways than one — how fluidity and flexibility are necessary parts of a successful legal practice, says Erick Sandlin at Bracewell.

  • How Activision Ruling Favors M&A Formalities Over Practice

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    The Delaware Chancery Court’s recent nod to a proposed class action, alleging shareholder notice violations in Activision Blizzard’s sale to Microsoft, puts practitioners on notice that customary merger and acquisition market practices do not offer protection from potential liability, say John Stigi and Eugene Choi at Sheppard Mullin.

  • 5 Issues To Consider When Liquidating Through An ABC

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    Assignments for the benefit of creditors continue to grow in popularity as a tool for an orderly wind-down, and companies should be considering a number of issues before effectuating the assignment, including in which state it should occur, obtaining tail coverage and preparing a board creditor mailing list, says Evelyn Meltzer at Troutman Pepper.

  • Opinion

    Judicial Independence Is Imperative This Election Year

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    As the next election nears, the judges involved in the upcoming trials against former President Donald Trump increasingly face political pressures and threats of violence — revealing the urgent need to safeguard judicial independence and uphold the rule of law, says Benes Aldana at the National Judicial College.

  • Series

    Riding My Peloton Bike Makes Me A Better Lawyer

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    Using the Peloton platform for cycling, running, rowing and more taught me that fostering a mind-body connection will not only benefit you physically and emotionally, but also inspire stamina, focus, discipline and empathy in your legal career, says Christopher Ward at Polsinelli.

  • Spartan Arbitration Tactics Against Well-Funded Opponents

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    Like the ancient Spartans who held off a numerically superior Persian army at the Battle of Thermopylae, trial attorneys and clients faced with arbitration against an opponent with a bigger war chest can take a strategic approach to create a pass to victory, say Kostas Katsiris and Benjamin Argyle at Venable.

  • Risks Of Nonmutual Offensive Collateral Estoppel In MDLs

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    After the Supreme Court declined to review the Sixth Circuit's ruling in the E.I. DuPont de Nemours & Co. personal injury litigation, nonmutual offensive collateral estoppel could show up in more MDLs, and transform the loss of a single MDL bellwether trial into a de facto classwide decision that binds thousands of other MDL cases, say Chantale Fiebig and Luke Sullivan at Weil Gotshal.

  • What Recent Study Shows About AI's Promise For Legal Tasks

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    Amid both skepticism and excitement about the promise of generative artificial intelligence in legal contexts, the first randomized controlled trial studying its impact on basic lawyering tasks shows mixed but promising results, and underscores the need for attorneys to proactively engage with AI, says Daniel Schwarcz at University of Minnesota Law School.

  • Caremark 2.0 Lends Shareholders Agency Against Polluters

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    The Caremark doctrine has been liberalized by recent Delaware court decisions into what some have termed a 2.0 version, making derivative cases against corporations far more plausible and invigorating oversight duty on environmental risks like toxic spills and air pollution, say Joshua Margolin and Sean Goldman-Hunt at Selendy Gay.

  • Del. Dispatch: How Moelis Upends Stockholder Agreements

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    The Delaware Court of Chancery's Moelis decision last month upended the standard corporate practice of providing governance rights in stockholder agreements and adds to a recent line of surprising decisions holding that long-standing, common market practices violate Delaware law, say attorneys at Fried Frank.

  • Business Litigators Have A Source Of Untapped Fulfillment

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    As increasing numbers of attorneys struggle with stress and mental health issues, business litigators can find protection against burnout by remembering their important role in society — because fulfillment in one’s work isn’t just reserved for public interest lawyers, say Bennett Rawicki and Peter Bigelow at Hilgers Graben.

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