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Delaware
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April 19, 2024
Del. Court Won't Invalidate Coupon IP On Alice 'Borderline'
A Pennsylvania federal judge sitting in Delaware has determined that Inmar Brand Solutions Inc.'s coupon-processing system patents are not abstract and therefore should not be invalidated under the U.S. Supreme Court's Alice precedent.
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April 19, 2024
Nissan's Ex-Chair Owes $6.5M In Defense Costs, Insurer Says
The former chairman of Nissan and other carmakers who fled to Lebanon after Japanese authorities arrested him alleging financial misdeeds must reimburse Sompo Japan Insurance Inc. for the nearly $6.5 million spent defending him against such claims, Sompo told a Delaware federal court Friday.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
Expert Analysis
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Breaking Down High Court's New Code Of Conduct
The U.S. Supreme Court recently adopted its first-ever code of conduct, and counsel will need to work closely with clients in navigating its provisions, from gift-giving to recusal bids, say Phillip Gordon and Mateo Forero at Holtzman Vogel.
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Rockport Ch. 11 Highlights Global Settlement Considerations
A Delaware bankruptcy court’s recent rejection of Rockport’s proposed settlement serves as a reminder that there is a risk that a global settlement executed outside of a plan may be rejected as a sub rosa plan, but shouldn’t dissuade parties from seeking relief when applicable case law supports approval, says Kyle Arendsen at Squire Patton.
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Opinion
Legal Profession Gender Parity Requires Equal Parental Leave
To truly foster equity in the legal profession and to promote attorney retention, workplaces need to better support all parents, regardless of gender — starting by offering equal and robust parental leave to both birthing and non-birthing parents, says Ali Spindler at Irwin Fritchie.
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Opinion
Activist Short-Sellers Are The Dark Knights Of Wall Street
While so-called activist short-sellers have been subject to increased scrutiny in recent years, these investors work in the shadows like Batman to expose fraud on Wall Street, often generating leads that may move regulators to take action, say attorneys at Labaton Sucharow.
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Managing ANDA Venue Issues As Del. And NJ Filings Rise
Delaware and New Jersey have prevailed as the primary forum for pharmaceutical litigation as more generic companies file abbreviated new drug applications, but this venue scheme presents traps for the unwary, and legislation may still be necessary to ensure fairness and predictability, say Timothy Cook and Kevin Yurkerwich at WilmerHale.
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Series
Writing Thriller Novels Makes Me A Better Lawyer
Authoring several thriller novels has enriched my work by providing a fresh perspective on my privacy practice, expanding my knowledge, and keeping me alert to the next wave of issues in an increasingly complex space — a reminder to all lawyers that extracurricular activities can help sharpen professional instincts, says Reece Hirsch at Morgan Lewis.
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What Lawyers Must Know About Calif. State Bar's AI Guidance
Initial recommendations from the State Bar of California regarding use of generative artificial intelligence by lawyers have the potential to become a useful set of guidelines in the industry, covering confidentiality, supervision and training, communications, discrimination and more, say attorneys at Debevoise.
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Industry Must Elevate Native American Women Attys' Stories
The American Bar Association's recent research study into Native American women attorneys' experiences in the legal industry reveals the glacial pace of progress, and should inform efforts to amplify Native voices in the field, says Mary Smith, president of the ABA.
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Understanding Discovery Obligations In Era Of Generative AI
Excerpt from Practical Guidance
Attorneys and businesses must adapt to the unique discovery challenges presented by generative artificial intelligence, such as chatbot content and prompts, while upholding the principles of fairness, transparency and compliance with legal obligations in federal civil litigation, say attorneys at King & Spalding.
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Chancery's 'Unfair Deal, Fair Price' Ruling Part Of A Trend
The Delaware Court of Chancery's recent decision in In re: Straight Path Communications is the latest in a line of recent post-trial rulings by the court that seem to prioritize a fair price in determining damage awards — even when a transaction has been clouded by an unfair process, say attorneys at V&E.
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Asserting 'Presence-Of-Counsel' Defense In Securities Trials
As illustrated by the fraud trial of FTX founder Sam Bankman-Fried, defense attorneys in securities trials might consider arguing that counsel had some involvement in the conduct at issue — if the more formal advice-of-counsel defense is unavailable and circumstances allow for a privilege waiver, say Joseph Dever and Matthew Elkin at Cozen O'Connor.
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An Overview Of Circuit Courts' Interlocutory Motion Standards
The Federal Arbitration Act allows litigants to file an immediate appeal from an order declining to enforce an arbitration agreement, but the circuit courts differ on the specific requirements for the underlying order as well as which motion must be filed, as demonstrated in several 2023 decisions, says Kristen Mueller at Mueller Law.
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The Case For Post-Bar Clerk Training Programs At Law Firms
In today's competitive legal hiring market, an intentionally designed training program for law school graduates awaiting bar admission can be an effective way of creating a pipeline of qualified candidates, says Brent Daub at Gilson Daub.
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Attorneys Have An Ethical Duty To Protect The Judiciary
The tenor of public disagreement and debate has become increasingly hostile against judges, and though the legislative branch is trying to ameliorate this safety gap, lawyers have a moral imperative and professional requirement to stand with judges in defusing attacks against them and their rulings, says Deborah Winokur at Cozen O'Connor.
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AI Can Help Lawyers Overcome The Programming Barrier
Legal professionals without programming expertise can use generative artificial intelligence to harness the power of automation and other technology solutions to streamline their work, without the steep learning curve traditionally associated with coding, says George Zalepa at Greenberg Traurig.