An attorney for a stockholder who sued online lender LendingClub Corp. for allegedly misleading investors about a federal investigation said they have dropped an insider trading claim during Chancery Court dismissal arguments Thursday, but urged the court to keep alive unjust enrichment and related claims.
The U.S. Supreme Court won't hear challenges to Chicago and Harrisburg ordinances that set boundaries on anti-abortion protesters outside of clinics, leaving in place Seventh and Third Circuit rulings upholding the buffers.
NextEra Energy Inc. urged the Third Circuit on Thursday to revive its bid for $60 million in administrative expenses in connection with a scrapped deal to purchase assets from bankrupt Energy Future Holdings Corp., arguing that it spent the money in reliance on a sale termination fee that was later taken off the table.
A Chinese tycoon and founder of electric car startup Faraday Future reported a successful emergence Thursday from a personal Chapter 11 in California that briefly detoured through Delaware bankruptcy court, following confirmation of a more than $3.5 billion reorganization.
GlaxoSmithKline is asking the U.S. Supreme Court to upend a Third Circuit ruling in a case over the marketing of the diabetes medication Avandia, saying the appeals court had taken an "impossibly capricious view" of the drug company's duty to provide information to regulators.
A Delaware bankruptcy judge on Thursday approved Libbey Glass Inc.'s post-petition financing package despite U.S. trustee opposition to financing terms related to possible litigation that could be pursued over $2.35 million in prepetition bonuses paid to five executives.
Despite the pandemic, the first half of 2020 saw epic judicial gear-shifting but no real slowdown in Delaware's key business courts, with new Chancery Court complaints actually picking up and important corporate and commercial law decisions regularly emerging from remotely conducted proceedings.
Bankrupt pharmaceutical company Akorn Inc. secured Delaware court approval Wednesday for its Chapter 11 disclosure, while also receiving a preview of coming dissents over its more than $1 billion case and sale ambitions.
A Delaware judge on Wednesday gave her nod for gym chain 24 Hour Fitness Worldwide Inc. to defer an estimated roughly $65 million in rent payments, despite strong objection from multiple landlords, as it moves forward with Chapter 11 plans to restructure its $1.4 billion in debt.
A Portola Pharmaceuticals investor filed a lawsuit Tuesday in Delaware Chancery Court seeking records from the biotech company to probe possible wrongdoing related to its proposed $1.4 billion purchase by Alexion Pharmaceuticals, asserting Portola's directors seemed driven to sell by "COVID-19 pandemic-driven fear."
Former officers and directors of bankrupt Performance Sports Group Ltd. won a Delaware court dismissal Tuesday of an estate litigation trustee's claims that insider fiduciary duty failures and corporate waste led the company into a more than $500 million Chapter 11 and "distressed" sale.
A Delaware state judge has imposed $28,320 in sanctions against chicken processing plant Mountaire Corp. for overredacting documents produced in discovery in a suit over alleged water pollution, saying he was already "flabbergasted" by the company's conduct but more recent revelations in the case show it's gone too far.
Indivior Inc. implored the Third Circuit to undo certification of a class action accusing the company of delaying generic competition of its opioid addiction drug Suboxone, arguing Wednesday that certification was improperly based on an overarching antitrust theory, rather than on individually evaluated claims.
A split Delaware Supreme Court on Tuesday reversed and sent back for reconsideration the Chancery Court's mid-2019 dismissal of a stockholder suit challenging the $18 billion merger of Towers Watson & Co. and Willis Group, saying the lower court mistakenly deferred too much to the combined company when it dismissed breach of fiduciary duty claims against Towers' CEO.
Offit Kurman PA on Tuesday ducked a malpractice suit in Texas federal court in which a Houston-based online furniture store sought over $1 million for alleged bill padding and double-billing, after a judge held the store's owner had agreed any dispute would be litigated in Delaware.
The Republican chairman of the Senate Judiciary Committee was joined by the panel's Democrats on Tuesday in calling to create new federal judgeships for the first time in nearly 20 years, but the idea needs broader GOP support to move forward.
A Delaware federal judge on Tuesday reversed the recommendation of a magistrate judge and tossed a lawsuit alleging Apple and Visa's "Apple Pay" contactless payment system infringes four security patents, finding that the patents-in-suit cover an abstract idea and are invalid under the U.S. Supreme Court's Alice ruling.
A former Genomic Health Inc. investor blasted the company's planned $2.8 billion merger last year with fellow cancer treatment developer Exact Sciences Corp. as a sweetheart deal that undervalued the company, failed to disclose important information to investors and was agreed to by the controlling shareholder before terms were finalized.
A lawsuit alleging Scientific Games, its officers and billionaire investor Ronald Perelman engaged in a "scheme" to damage Sylebra Capital Partner's investment and strengthen the billionaire businessman's control over the gaming company has no place in Delaware Chancery Court, a vice chancellor was told Tuesday.
Four former Wilmington Trust Corp. executives urged the Third Circuit to undo their fraud convictions for failing to flag real estate loans totaling millions of dollars that were in arrears, arguing Tuesday that there was no regulatory or statutory definition of "past due" on which to base criminal charges.
A Delaware judge on Tuesday approved Chapter 11 sale procedures for Johnson & Johnson talc supplier Imerys Talc America Inc., despite opposition from a group of insurers who contended they may not be left with enough time to mount a challenge if certain insurance policies are included in the sale.
The parent company of Advantage Rent A Car received permission from a Delaware bankruptcy judge Tuesday for the sale of its airport rental agency agreements in two transactions worth more than $17 million.
A coalition of states including Maryland and New York told the U.S. Environmental Protection Agency that fine and coarse particulate matter pollution kills thousands of people each year and the agency is wrong not to tighten its rules to better protect public health.
As COVID-19 cases surged in multiple regions amid noncompliance with wearing face masks over the past week, governors of newly dubbed hot-spot states and their neighbors, even ones with declining cases and deaths, rushed to pause reopening activities such as indoor dining.
Attorneys general for 15 states and the District of Columbia warned the Trump administration that an executive order to bypass vigorous environmental reviews for infrastructure projects would run afoul of emergency provisions in federal law, even considering the COVID-19 pandemic.
It has long been the law that attorneys cannot use percentage rental agreements because doing so would constitute an impermissible sharing of fees with nonlawyers, but such arrangements can help lawyers match expenses with revenues in lean times like now, say Peter Jarvis and Trisha Thompson at Holland & Knight.
While courts have been reluctant to grant discovery in Employee Retirement Income Security Act benefits cases in the past, textual-minded judges questioning the legitimacy of judicially created doctrines are increasingly allowing more discovery, says Mark DeBofsky at DeBofsky Sherman.
Mediation conducted online with participants in different states makes it harder to determine where communications were made, increasing the risk that courts will apply laws of a state that does not protect mediation confidentiality, say mediators Jeff Kichaven and Teresa Frisbie and law student Tyler Codina.
Emerging disputes over whether the COVID-19 crisis has triggered a merger transaction’s material adverse effect clause shine a spotlight on the importance of showing whether the pandemic has disproportionately impacted particular industries and companies, say David Tabak and Edward Flores at NERA.
The U.S. Environmental Protection Agency's recently announced rule limiting the scope of states' reviews of planned energy infrastructure projects will likely mean more litigation between states and the federal government — and more uncertainty for businesses and other stakeholders, says Philip Sholtz at Goldberg Segalla.
As I learned after completing a recent international arbitration remotely, with advance planning a video hearing can replicate the in-person experience surprisingly well, and may actually be superior in certain respects, says Kate Shih at Quinn Emanuel.
If law firms are truly serious about making meaningful change in terms of diversity, they must adopt a demographically neutral, unbiased hiring equation that looks at personality traits with greater import than grades and class rank, says Thomas Latino at Florida State University College of Law.
The North American Securities Administrators Association's recently proposed model state whistleblower law could be a timely weapon against securities misconduct in light of the new and unique opportunities COVID-19 presents for fraudsters, and certain federal registration exemptions that may soon be relaxed, says attorney Patrick McCloskey.
With large swaths of the population indoors and primarily online, cybercriminals will be able to exploit law firms more easily now than ever before, but some basic precautions can help, says Joel Wallenstrom at Wickr.
Understanding how to draft diligence clauses that require parties to use commercially reasonable efforts in life sciences contracts is more important than ever before, with COVID-19 likely redefining what is reasonable, say Gregory Litt and Resa Schlossberg at Skadden.
Now that law firms are on board with fully remote work environments, they must develop policies that match in-office culture and align partner and associate expectations, says Summer Eberhard at Major Lindsey.
The Third Circuit’s recent opinion in Yucis v. Sears Outlet Stores shows that companies are not always liable for an employee’s sexual harassment of a customer, but courts can still find vicarious liability when one of five factors is satisfied, says Melissa Legault at Squire Patton.
What emerges from the group of 200 federal judges confirmed by the Senate under President Donald Trump is a judiciary stacked with young conservative ideologues, many of whom lack basic judicial qualifications, says Sen. Dianne Feinstein, D-Calif., ranking member of the Senate Judiciary Committee.
As lawyers have had more time to write in recent weeks, the number of law firm alerts has increased massively, but a lot of them fail to capture readers and deliver new business, says Richard Torrenzano at The Torrenzano Group.
Valuation experts should abandon the practice of applying a size premium to estimate the cost of equity for smaller firms because its use jeopardizes the reliability of valuation conclusions, says Clifford Ang at Compass Lexecon.