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.
Software company ATopTech Inc. filed for Chapter 11 protection in Delaware on Friday, about 10 months after a California federal jury hit it with a $30 million verdict on accusations of infringing Synopsys Inc.'s copyrights, but says it has a potential buyer lined up to anchor a bankruptcy auction.
A Delaware vice chancellor approved a stockholder request Thursday to dismiss one class suit from near-twin damage claims arising from a $13 billion Williams Cos. merger defense that cost the the company $428 million to abandon last year.
The CEO of a laser weapons manufacturer and his lawyers padded their wallets by issuing millions of company shares despite the move never gaining investor approval and jeopardized potential projects with the U.S. Department of Defense, according to a derivative shareholder suit filed in Delaware Chancery Court on Friday.
A Delaware bankruptcy judge agreed Friday to approve Triangle USA Petroleum Corp.’s disclosure statement for its Chapter 11 plan, allowing the oil driller to solicit creditor votes on a strategy centering on unsecured creditors swapping out debt for equity in a reorganized company.
Menswear supplier Hampshire Group Ltd. knit together a quick bankruptcy sale of its top brands in Delaware on Friday, netting less than $1 million but still calling the development an important step toward an orderly Chapter 11 liquidation.