Delaware

  • March 13, 2024

    Juul Investor Tells Chancery: 'We Were Trying To Help'

    A director of Juul Labs Inc. denied on Wednesday that he kept the company out of bankruptcy in 2022 to profit from his own investments, telling Delaware's Chancery Court that he helped Juul refinance and backstopped millions worth of settlements because he wanted the e-cigarette company to succeed.

  • March 13, 2024

    NYC Condo Developer's Ch. 11 Liquidation Plan Gets OK

    A Delaware bankruptcy judge on Wednesday approved the Chapter 11 liquidation plan of 540 West 21st St. Holdings LLC, the developer of a scrapped luxury condo project in New York City's West Chelsea neighborhood, overruling an objection from the managers of a neighboring building.

  • March 13, 2024

    FERC Can't Change Power Auction Results, 3rd Circ. Rules

    The Third Circuit has wiped out the Federal Energy Regulatory Commission's tweak to the results of an electricity capacity auction run by the nation's largest regional grid operator, saying it amounted to retroactive rate-making in violation of the filed-rate doctrine.

  • March 13, 2024

    Tesla Investors Weigh In On $5B Fee Proposed For Class Attys

    Tesla Inc. stockholders are sounding off to Delaware's chancellor after class attorneys sought a stock-based fee potentially worth more than $5 billion at current share prices following the Court of Chancery's reversal of Elon Musk's $55.8 billion stock-based pay plan on Jan. 30.

  • March 12, 2024

    Terraform Can Retain Dentons In Ch. 11, Firm Will Return $48M

    Terraform Labs can hire Dentons US LLP as its special counsel in its Chapter 11 case, a Delaware federal bankruptcy judge ruled Tuesday, with the firm agreeing to return $48 million of a $70 million retainer that was hit with objections.

  • March 12, 2024

    Bolt Financial's Chairman Is Controlling Board, Suit Says

    Stockholders of Bolt Financial Inc. on Monday updated their derivative complaint against the company's board of directors, alleging chairman, controlling shareholder and former CEO Ryan Breslow purposely defaulted on a $30 million loan that was secured by Bolt and that he has repeatedly appointed and removed directors for his personal interests.

  • March 12, 2024

    Federal Circuit Won't Reconsider Axing Tyvaso Patent

    The full Federal Circuit on Tuesday declined to review a panel ruling from late last year that sided with a Patent Trial and Appeal Board decision that there was nothing patentable about a way of administering a blockbuster pulmonary hypertension drug.

  • March 12, 2024

    GigNet Sued In Del. For Books On Related Party Deals

    Citing company losses and alleged interested transactions involving insiders, a GigNet Inc. stockholder has sued the multinational, high-speed broadband network provider in Delaware's Court of Chancery for access to corporate records needed to probe the allegations.

  • March 12, 2024

    Breast Implant Co.'s $90M DIP OK'd With Creditor Protections

    Bankrupt breast implant maker Sientra Inc. received final court approval in Delaware bankruptcy court for its $90 million debtor-in-possession financing after adding in lien challenge protections for unsecured creditors.

  • March 12, 2024

    Ex-Biopharma CEO Sues For Post-Sale Share Appraisal In Del.

    The co-founder of Caraway Therapeutics Inc. sued in Delaware's Court of Chancery on Tuesday for an appraisal of his shares following the company's November merger with a subsidiary of pharmaceutical giant Merck, alleging that it "was an unfair cash-out transaction" and that he is owed at least a million more shares.

  • March 12, 2024

    Judge OKs Ch. 7 Liquidation For Reverse Mortgage Co.

    A Delaware bankruptcy judge Tuesday converted Reverse Mortgage Investment Trust Inc.'s Chapter 11 case to a Chapter 7 liquidation, saying the debtor's plan administrator's request for conversion has "good and sufficient cause" under the Bankruptcy Code.

  • March 12, 2024

    Murdochs Seek Toss of Epic Election Defamation Suit

    Fox Corp. media mogul Rupert Murdoch and other Fox empire figures have urged Delaware's Court of Chancery to toss as unwinnable a stockholder suit seeking to make them liable for billions in potential damages for defamatory statements alleging 2020 election conspiracies on network and affiliate broadcasts.

  • March 12, 2024

    Ex-Boy Scout Can Seek $120M Award From Insurers

    A Delaware bankruptcy judge has ruled that a former Boy Scout can keep suing the organization's insurers to collect a $120 million abuse judgment against his ex-Scoutmaster, even though the court entered an injunction barring similar lawsuits.

  • March 12, 2024

    Head Of Rutgers Race Justice Program Defends 3rd Circ. Nom

    The director of a Rutgers University program that has drawn controversy amid a confirmation battle for a Third Circuit seat said Tuesday that she is "disappointed though not surprised" by the attacks on nominee Adeel Mangi, who would be the first Muslim federal appeals court judge if confirmed.

  • March 11, 2024

    Panama Port Fight Belongs In Chancery Court, H.K. Co. Says

    A Hong Kong company alleging that its interest in a lucrative port project near the Atlantic entrance to the Panama Canal is being stolen has urged a Delaware federal court to remand its lawsuit back to the Chancery court, saying the suit's removal last month was a delay tactic.

  • March 11, 2024

    3rd Circ. Pick Affirms Muslim Lawyer Event Amid GOP Attacks

    Third Circuit nominee Adeel Mangi, who will be the first Muslim federal appeals court judge if confirmed and has been facing attacks from Republicans, has updated the Senate Judiciary Committee with an event he "inadvertently" left off his nominee questionnaire.

  • March 11, 2024

    Fired Lithium Co. Co-Founder Sues To Recoup 3.25M Shares

    The former co-CEO and co-founder of a lithium fracking company sued the company in Delaware's Court of Chancery, seeking a court order that the company return 3.25 million shares of stock it allegedly repurchased from him after firing him in "bad faith."

  • March 11, 2024

    3rd Circ. Finds No Reason To Disturb AbbVie Privilege Ruling

    The Third Circuit has found that AbbVie was unable to show that a Pennsylvania federal court went against precedent or made an error when ordering the drugmaker to turn over attorney communications from a "sham" patent case allegedly meant to delay AndroGel competitors.

  • March 11, 2024

    Coinbase Asks 3rd Circ. To Force SEC To Set Rules For Crypto

    Crypto exchange Coinbase asked the Third Circuit on Monday to force the U.S. Securities and Exchange Commission to set rules of the road for digital assets in an opening brief that argued the agency failed to provide "a reasoned explanation" for why it denied an earlier request for crypto rulemaking.

  • March 11, 2024

    Technology Co. Must Face Philips' Patent Infringement Claims

    A Delaware federal judge on Monday denied MediaTek's bid to throw out claims in a suit in which it is accused by Philips of patent infringement, calling MediaTek's attempt to exit the case "scattershot."

  • March 11, 2024

    Teamsters Can't Pause Discovery In $137M Fight With Yellow

    A Kansas federal judge shot down the Teamsters' request to pause the discovery process in a $137 million lawsuit accusing the union of holding up a necessary corporate restructuring at the now-bankrupt trucking company Yellow Corp., ordering the union to keep producing documents.

  • March 11, 2024

    Canadian Oil Driller Seeks US Recognition Of Reorg Filings

    A Canadian operator of Wyoming oil and gas wells Monday asked a Delaware court to recognize its Canadian insolvency proceedings, saying it is out of cash, $92 million in debt and seeking a buyer after years of production problems.

  • March 11, 2024

    3rd Circ. Unsure Of Reasons To Halt Del. Assault Weapon Ban

    A Third Circuit panel seemed to lean toward letting Delaware keep its ban on so-called assault weapons and extended magazines during arguments Monday, with Judge Stephanos Bibas pressing gun rights advocates on their claim the ban should have been blocked solely on the grounds that a Second Amendment violation may have taken place.

  • March 11, 2024

    Hertz Tells Chancery To Reject $4B Buyback 'Hindsight' Suit

    Hertz directors weren't certain when they authorized $4 billion in stock buybacks that it would transfer control of the company to a private equity-backed shareholder, an attorney for Hertz told Delaware's Court of Chancery on Monday, urging the court to toss a shareholder's lawsuit over the buybacks.

  • March 11, 2024

    Walmart Fails To Sink Feds' Opioid Crisis Lawsuit

    A Delaware federal judge on Monday kept alive a government lawsuit accusing Walmart of fueling the nation's opioid crisis, ruling that the company could be held liable for filling illegitimate prescriptions its compliance officers allegedly failed to flag for unwitting pharmacists.

Expert Analysis

  • 5 Management Tips To Keep Law Firm Merger Talks Moving

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    Many law firm mergers that make solid business sense still fall apart due to the costs and frustrations of inefficient negotiations, but firm managers can increase the chance of success by effectively planning and executing merger discussions, say Lisa Smith and Kristin Stark at Fairfax Associates.

  • What 3rd Circ. Niaspan Decision Means For Class Cert.

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    The Third Circuit's recent denial of class certification in the Niaspan antitrust case underscores its particularly stringent understanding of the implicit ascertainability requirement, which further fuels confusion in the courts, threatens uneven results and increases the risk of forum shopping, says Michael Lazaroff at Rimon Law.

  • An Overview Of The Blockchain Patent Litigation Landscape

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    There are now nearly 10,000 issued blockchain patents, and several cases have been filed that will affect the future of blockchain patent litigation, which may ultimately raise novel questions in patent law, say attorneys at Kramer Levin.

  • The Texas Two-Step May Be Losing Steam

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    The Texas Two-Step is a powerful bankruptcy strategy that has been used in recent high-profile cases, including Johnson & Johnson’s talc unit bankruptcy case, but ongoing debate and legal challenges raise the question of whether this maneuver is losing reliability, say Brendan Best and Justin Allen at Varnum.

  • New NJ Law Creates Flexibility For Corporate Conversion

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    Come November, the new conversion provisions in New Jersey's recently enacted S.B. 142 will provide corporations and LLCs with additional flexibility in structuring certain types of common business and investment transactions, representing an important step for the incorporation of businesses in the state, say attorneys at McCarter & English.

  • 3 Abortion Enforcement Takeaways 1 Year After Dobbs

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    A year after the U.S. Supreme Court overturned the constitutional right to abortion in Dobbs v. Jackson Women’s Health Organization, confusion continues to abound amid the quagmire of state-level enforcement risks, federal efforts to protect reproductive health care, and fights over geolocation data, say Elena Quattrone and Sarah Hall at Epstein Becker.

  • Rethinking In-Office Attendance For Associate Retention

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    The hybrid office attendance model doesn't work for all employees, but it does for many — and balancing these two groups is important for associate retention and maintaining a BigLaw firm culture that supports all attorneys, says Summer Eberhard at Major Lindsey.

  • Bittrex Bankruptcy Order Highlights Creative Crypto Financing

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    In a recent first, the Delaware bankruptcy court authorized Bittrex to obtain post-petition financing solely in bitcoin from the debtor-in-possession lender, an order that may serve as a catalyst for future debtors to explore creative mechanisms for crypto financing and payback, says Kyle Arendsen at Squire Patton.

  • What Innovators Can Expect In The Patent World After Amgen

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    After the U.S. Supreme Court's recent Amgen v. Sanofi decision, which invalidated Amgen's patents because the specifications failed to enable the full scope of the invention, innovators should expect more enablement rejections and invalidity challenges, and higher standards overall for obtaining broad genus claims, says Kisuk Lee from Harness IP.

  • Greenwashing Suits May Implicate D&O Policies

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    As consumers, regulators, and state and local governments seek to use litigation to hold companies responsible for alleged greenwashing, businesses facing such claims have a number of approaches available for seeking insurance coverage under directors and officers policies, say attorneys at Haynes Boone.

  • Opinion

    ALI, Bar Groups Need More Defense Engagement For Balance

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    The American Law Institute and state bar committees have a special role in the development of the law — but if they do not do a better job of including attorneys from the defense bar, they will come to be viewed as special interest advocacy groups, says Mark Behrens at Shook Hardy.

  • Murdaugh Trials Offer Law Firms Fraud Prevention Reminders

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    As the fraud case against Alex Murdaugh continues to play out, the evidence and narrative presented at his murder trial earlier this year may provide lessons for law firms on implementing robust internal controls that can detect and prevent similar kinds of fraud, say Travis Casner and Helga Zauner at Weaver and Tidwell.

  • Challenging Standing In Antitrust Class Actions: Rule 23

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    A recent Sixth Circuit decision in Fox v. Saginaw County that rejected the common attempt to use Rule 23 to sidestep Article III's standing limitations shows antitrust defendants' success in challenging standing will rest on happenstance without more clarity from the Supreme Court — which no litigant should be comfortable with, say Michael Hamburger and Holly Tao at White & Case.

  • Post-Siegel Trustee Fee Rulings Further Debtor-Friendly Trend

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    One year after the U.S. Supreme Court’s bankruptcy ruling in Siegel v. Fitzgerald left the matter of trustee fee refunds open to lower courts, related rulings have sided with debtors, reminding practitioners of the importance of the constitutional backdrop to statutory law, say Daniel Lowenthal and Jonah Wacholder at Patterson Belknap.

  • Firm Tips For Helping New Lawyers Succeed Post-Pandemic

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    Ten steps can help firms significantly enhance the experience of attorneys who started their careers in the coronavirus pandemic era, including facilitating opportunities for cross-firm connection, which can ultimately help build momentum for business development, says Lana Manganiello at Equinox Strategy Partners.

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