Albertsons received a Delaware bankruptcy judge’s blessing Tuesday to buy back 30 grocery stores it sold to small chain Haggen, which has failed under the weight of its rapid expansion, undoing a major aspect of the $9.2 billion Albertsons-Safeway merger's regulatory approval.
Mylan and fellow generic-drug maker Perrigo told a New York federal court Friday they had settled a suit in which Mylan was accused of misleading Perrigo investors in a failed $27 billion hostile takeover attempt, after too few investors agreed to tender their shares last week.
The Supreme Court of Texas declined on Friday to take up a contract dispute case involving two players in the Eagle Ford Shale over who was responsible for paying the former owners of oil and gas assets connected to a $1.26 billion deal.
The Texas Supreme Court on Friday refused to allow Huntsman Corp. investors managed by MatlinPatterson Global Advisers LLC to sue units of Deutsche Bank AG and Credit Suisse AG over a failed $6.5 billion merger involving the chemical manufacturer, rejecting the funds' bid for review.
A Georgia federal judge agreed Thursday to let an ophthalmologist drop his $2.5 million suit against Locke Lord LLP, after they settled allegations that the firm failed to disclose a conflict of interest when preparing a tax opinion concerning an offshore trust.
The Delaware Chancery Court on Thursday dismissed a suit brought by an ex-director of medical records company Universata Inc. who had filed a putative class action claiming fellow former board members shortchanged shareholders in a merger, ruling that he’d been too slow to file suit.
A New York attorney was suspended Thursday following his 18-month prison sentence for filing a false tax return for a Bumble and Bumble founder, omitting nearly $30 million the man earned by selling his share of the hair products company to Estee Lauder.
The Delaware Supreme Court upheld a chancery decision to toss a shareholder suit challenging the management buyout of power generation company SynQor Inc., a significant ruling Thursday that is considered the first test of the high court's landmark MFW ruling.
A California appeals court on Monday denied Donald Sterling's bid to revive his probate suit accusing his wife, Shelly Sterling, of lacking the authority to sell the Los Angeles Clippers basketball team to billionaire Steve Ballmer, finding that Donald Sterling was properly removed as Sterling Family trustee.
Saint Michael’s Medical Center Inc. has declared a Prime Healthcare unit’s $62.2 million offer the winning bid for the bankrupt New Jersey hospital’s assets, according to a Tuesday filing in bankruptcy court.
A New York bankruptcy judge signed off Friday on the sale of Quirky Inc.'s Internet of Things business Wink Inc. to Flextronics International for $15 million, completing a major component of Quirky's Chapter 11.
Boeing was unable to strike key defenses available to subsidiaries of a Russian state-controlled space company in a $355 million contract dispute over a failed satellite-launching venture, with a California federal judge ruling Wednesday that they’re closely linked to issues that will be presented at an upcoming trial.
A New York judge on Wednesday refused to throw out a lawsuit by First American Financial Corp. against Verisk Analytics Inc. over FirstAm's $155 million purchase of loan quality analytics provider Interthinx Inc., saying that a plausible case has been made that Verisk breached the terms of the deal.
The U.S. Supreme Court declined Monday to take up a case accusing three financial firms of exaggerating the value of bankrupt telephone company Winstar Communications Inc. to inflate its 2001 purchase price, allowing the Third Circuit’s decision not to revive the lawsuit to stand.
A Florida federal judge on Thursday put an end to Procaps' suit accusing pharmaceutical company and its former joint venture partner Patheon of creating antitrust issues by purchasing one of Procaps' rivals for $255 million, saying Procaps couldn't show that any actual competitive harm had occurred.
A Delaware Chancery Court judge on Thursday reversed an earlier decision and dismissed shareholder litigation against Merrill Lynch related to its adviser role in the $690 million Signet-Zale merger, saying a recent state Supreme Court decision forced his change of heart.
A Delaware court has ruled against biopharmaceutical company Genelux Corp. in its feud over company control, finding stock issued to founder Aladar Szalay is valid and upholding his appointment of two directors, and the court further defined a recent statute that enhanced its power to deal with defective corporate acts.
A New York state judge has refused to “rubber-stamp” a settlement that would end shareholder litigation brought by Allied Healthcare Inc. investors over Saga Group Ltd.’s $175 million buyout, blasting as "horse-hockey" what he considered a culture of awarding attorneys’ fees for little result.
A Connecticut federal judge on Friday delayed TICC Capital's upcoming proxy vote on the planned sale of its investment adviser arm to Benefit Street Partners, ruling that the business development company must release more detailed information about just how lucrative the deal would be for certain members of its board of directors.
A former CFR Pharmaceuticals SA board member has agreed to pay $13.2 million to settle U.S. Securities and Exchange Commission allegations that he traded on insider information in Abbott Laboratories' $3.3 billion takeover of CFR, according to a settlement agreement filed in New York federal court Friday.
Several developments over the past few months caught the eye of Jim Maiwurm, chairman emeritus of Squire Patton Boggs. Try as he might, he could not resist the temptation to comment on a few — such as the expansion of the Dentons “polycentric” empire, a confused verein controversy, and provocative suggestions that the law firm partnership model is a dinosaur.
As companies grow and expand into multiple states, determining the applicable law for restrictive covenants can be puzzling. In a case related to the merger of Prosperity Bank in Texas and F&M Bank in Oklahoma, the Fifth Circuit provides a useful road map, but also demonstrates that there is no certainty that the chosen law will be enforced against employees in other states, says Michael Karpeles of Greenberg Traurig LLP.
The amendments to the Federal Rules of Civil Procedure scheduled to take effect Dec. 1 are designed to usher in a new era in the U.S. litigation system, this time acknowledging that what was once known as “e-discovery” is now just discovery. The amendments are sweeping in scope, but none is more important than the revised Rule 37(e), say Gregory Leighton and Eric Choi of Neal Gerber & Eisenberg LLP.
Peeling away the various arguments of stockholder activists and their often larger-than-life personas lays bare the gritty details of the ways stockholder activists actually take positions in their companies and what, if any, notice a company may have of such a position. Discerning where they may pop up next requires nuance and sophistication, says Ed Batts of DLA Piper.
The U.S. Securities and Exchange Commission has issued two new compliance and disclosure interpretations of the so-called “unbundling rule” as part of the political reaction against inversions. However, the new, separate vote required on material corporate governance changes in M&A represents process without substance and is unlikely to have a practical effect, say attorneys with Fried Frank Harris Shriver & Jacobson LLP.
A growing number of attorneys and firms are eschewing tradition by embracing technology to change not only the way we work, but also the way we organize our offices, says Anthony Johnson, founder and CEO of American Injury Attorney Group.
There is a potential trap for parties choosing to arbitrate representations and warranties insurance disputes. In some jurisdictions, the parties to an R&W insurance policy may be unable to enforce the arbitration provision because of state laws. There is some good news, however, say Michael Gill and Alexandra Newman at Mayer Brown LLP.
The Delaware Chancery Court's BMC Software decision will make it harder for appraisal petitioners to challenge a merger price resulting from a thorough and effective sale process, say attorneys with Kirkland & Ellis LLP.
Over the past 35 years, Joe Kanka has experienced the corporate legal department from many angles, including management positions at a major law firm litigation support center, two legal staffing companies, and inside AT&T and Bell Atlantic. Here, he shares his 13 key business objectives that corporate legal departments must strive for in today’s business environment.
A decision last week by a New York bankruptcy judge splits innumerable hairs, but delineates the extent to which the new General Motors — which acquired the assets of "Old GM" in 2009 — is shielded from lawsuits based on ignition switch defects in cars manufactured prior to the acquisition, says Benjamin Feder of Kelley Drye & Warren LLP.