Delaware Law360 provides breaking news and analysis on legal and regulatory issues in Delaware. Coverage includes high-stakes litigation, policy developments, and corporate deals affecting the state.
A Third Circuit panel on Thursday backed a lower court decision to toss a lawsuit accusing two state investigators of illegally obtaining a Penn State University employee’s work emails, saying while it was “dismayed” by the pair’s use of an improper subpoena, her employers had the authority to hand them over.
A Delaware Chancery Court judge on Thursday declined to dismiss a “books and records” lawsuit filed against Papa John’s by former pizza chain CEO John Schnatter, rejecting company claims that he was using the demands to improperly support a suit to counter actions against him and other employees.
The prospects of discount retailer J&M Sales Inc. getting to a confirmed Chapter 11 plan of reorganization dimmed Thursday, when attorneys for the chain of stores told a Delaware bankruptcy judge that its vendors were wary of signing on to a process where they would provide inventory on shortened terms.
The Third Circuit on Thursday refused to revive a putative securities class action against Hertz Global Holdings Inc. over allegedly false and misleading statements about its financial condition and internal controls, saying the explanation that former company executives engaged in mismanagement is more plausible than shareholders' claims of a systemic fraud.
Shareholders of Dun & Bradstreet on Wednesday filed a proposed class action in Delaware federal court alleging that a proxy statement filed by the company's board in September is "materially incomplete," making shareholders unable to properly assess the fairness and financial implications of its potential $6.9 billion merger with a buying group led by CC Capital.