Delaware

  • February 24, 2017

    Share Gain Defended, Fee Disputed In Dell Appraisal Appeal

    Dell Inc. stockholder attorneys who won a 28 percent bump in share prices after a Delaware Chancery Court challenge to a $24.9 billion go-private buyout told Delaware’s Supreme Court late Thursday that justices should either uphold the price over Dell’s objections or take it higher.

  • February 24, 2017

    Essar Steel Seeks Approval Of Union Deals For Minn. Plant

    Bankrupt iron ore mining firm Essar Steel Minnesota LLC asked a Delaware judge Friday to authorize the company to enter into agreements with the United Steelworkers aimed at stabilizing labor relations as Essar moves forward with plans to complete construction of a mine and processing facility.

  • February 24, 2017

    Ex-Lemon Execs Say Calif. Case Should Halt LifeLock IP Suit

    Former executives of Lemon LLC told a Delaware Chancery judge Friday that a suit over intellectual property brought by LifeLock Inc. should be tossed because the same issues have been raised in a California action that has been stayed in that venue, arguing that Delaware precedent prevents overlapping litigation.

  • February 24, 2017

    ERISA Applies To Religious Hospitals, Workers Tell Justices

    Former employees of religious hospital systems have urged the U.S. Supreme Court to uphold circuit court rulings that their former employers are subject to the Employee Retirement Income Security Act, arguing that the businesses are run as hospitals not churches, so they don’t qualify for a religious exemption.

  • February 24, 2017

    Vertellus Ch. 11 Remnants Win Plan Confirmation In Del.

    Wind-up plans for remnants of bankrupt chemical maker Vertellus Specialties Inc. won confirmation from a Delaware bankruptcy judge on Friday, bringing the end closer for a Chapter 11 that opened with more than $650 million in financial liabilities and serious pollution burdens.

  • February 24, 2017

    Trump Entertainment Needs More Time To Finish With Claims

    The distribution trustee in Trump Entertainment Resorts Inc.’s Chapter 11 case told a Delaware bankruptcy court on Thursday that he needs more time to decide whether to object to what’s left of the $1.9 billion in general unsecured claims asserted against the former Atlantic City, New Jersey, casino operator.

  • February 24, 2017

    3rd Circ. Won't Reverse Ruling Over Pa. Mansion Fire

    The Third Circuit affirmed on Thursday a ruling that found Chartis Property Casualty Co. didn’t intentionally push out a prospective buyer during insurance claim negotiations after a Philadelphia area mansion burned down, saying Chartis only had an obligation to the mansion’s owner, who held the policy.

  • February 23, 2017

    Viacom Slips Suit Claiming It Hid MMA Promoter's Revenue

    A Delaware federal judge on Thursday tossed a suit by a minority shareholder in a mixed martial arts promotion company accusing Viacom Inc. of using a controlling stake to withhold both revenue and financial performance data from the promoter’s shareholders, ruling Viacom didn’t control the promoter.

  • February 23, 2017

    Protected Doc Use Flagged In Merrill Bid To Block Arbitration

    A federal judge in Delaware pressed an attorney for jailed businesswoman Gigi Jordan on Thursday on use of confidential documents from past court actions to launch an arbitration demand against Merrill Lynch Pierce Fenner & Smith Inc., during arguments on a Merrill bid for a preliminary injunction to block the move.

  • February 23, 2017

    Spectrum Pharma Investors Sue Over Rejected FDA Advice

    Officers and directors at Spectrum Pharmaceuticals Inc. were hit with a shareholder derivative action in Delaware federal court on Thursday alleging they harmed investors and the company with a new drug application for a bladder cancer treatment drug filed in defiance of U.S. Food and Drug Administration advice. 

  • February 23, 2017

    Infoblox Investors Seek Stock Appraisal After $1.6B Deal

    Shareholders of computer networking firm Infoblox Inc. filed a petition in Delaware Chancery Court on Thursday seeking an appraisal of their stock in the company following its November buyout by private equity firm Vista Equity Partners for $1.6 billion.

  • February 23, 2017

    The Limited IP Sale Approved With $26.75M Winning Bid

    Bankrupt women’s clothing retailer The Limited Stores Co. LLC on Thursday received court approval for a sale of its intellectual property to a unit of private equity firm Sycamore Partners, which will pay $26.75 million in cash for the assets after an auction earlier this week.

  • February 23, 2017

    Triangle Creditor Objects To Ch. 11 Plan Tax, Stock Terms

    The largest creditor of bankrupt Triangle USA Petroleum LLC’s holding company called for a rejection of TUSA’s Chapter 11 plan late Tuesday, disputing the company’s proposed liability releases, restrictions on tax allowances for cancelled stock and even its future headquarters space, among other objections.

  • February 23, 2017

    Andrews, Gainey To Be CytRx Stock-Pump Suit Lead Counsel

    A Delaware Chancery Court judge has appointed Andrews & Springer LLC and Gainey McKenna & Egleston to represent CytRx Corp. investors in a derivative action accusing the biopharmaceutical company’s board of sanctioning a brazen stock-pumping scheme, calling their complaint “superior” to another in the consolidated suit.

  • February 23, 2017

    Del. Judicial Political Balance Mandate Unfair, Atty Says

    A Delaware attorney is challenging a portion of the state’s constitution requiring a balance of representation from “major” political parties in state judicial positions, saying in a lawsuit filed in Delaware federal court that the process is unconstitutional and unfairly excludes members of nonmajority parties and independents.

  • February 23, 2017

    Optima Creditors Want DIP Loan Beef Resolved At Hearing

    Optima Specialty Steel Inc.’s unsecured creditors have again blasted its plans for a $212 million debtor-in-possession financing package, saying the objections they’ve raised repeatedly over the past month have yet to be fully addressed ahead of a final hearing on Tuesday.

  • February 23, 2017

    3rd Circ. Won't Retread Car Shipping Antitrust Suit

    The Third Circuit has denied a request by auto and equipment dealers and others to reconsider a January ruling that international shipping companies are immune from allegations of a conspiracy to stifle competition and fix prices for vehicle transportation.

  • February 22, 2017

    A. Schulman Investor Demands Records Of CEO Stock Award

    A shareholder of specialty plastics maker A. Schulman Inc. filed suit Wednesday in Delaware Chancery Court, seeking to inspect books and records related to a stock award given to the company's former CEO in excess of what he was entitled to under a performance bonus plan.

  • February 22, 2017

    Insolvency Looms For Wet Seal Ch. 11, Creditors Warn

    Unsecured creditors of bankrupt clothing retailer The Wet Seal LLC warned on Wednesday that the company’s Chapter 11 appears headed for insolvency and urged a Delaware judge to curb payments of interest and principal to senior creditors pending resolution of cash concerns.

  • February 22, 2017

    Sycamore Unit Wins Ch. 11 Auction For The Limited IP

    Recently defunct women's clothing retailer The Limited Stores Co. LLC told the Delaware bankruptcy court late Tuesday that a unit of private equity firm Sycamore Partners, which was the stalking horse that set the bidding floor, won a competitive auction for its intellectual property and e-commerce business line.

Expert Analysis

  • What Lawyers Can Learn From Kellyanne Conway

    Michelle Samuels

    Presidential adviser Kellyanne Conway's TV appearances provide some examples of what lawyers should and shouldn't do when speaking to the media, says Michelle Samuels, a vice president of public relations at Jaffe.

  • How States Might Challenge The OCC's Fintech Charter

    Brian G. Barrett

    Some state banking regulators see the Office of the Comptroller of the Currency's plan to create a new charter for financial technology companies as a direct threat to their existing authority. Litigation challenging the preemptive effect of the fintech charter would likely involve an interpretation of the limitations on the OCC’s statutory preemptive power, say attorneys with Eversheds Sutherland (US) LLP.

  • Latest Twist In The Merger Objection Lawsuit Saga

    Kevin M. LaCroix

    A New York appellate court’s recent decision in Gordon v. Verizon presents a number of important suggestions on the future direction of merger objection lawsuits, and raises the question of whether New York will become an attractive forum for such cases, says Kevin LaCroix of RT ProExec.

  • The Cyber Ecosystem: Evolving Tech And Risk Governance

    Sonja S. Carlson

    The volume and velocity of cyberattacks is increasing, and so is our interconnectedness, fueled by growing use of internet of things devices. Companies must find ways to adeptly and nimbly address cyberrisks in order to navigate a myriad of business and legal concerns, say Sonja Carlson of Sheppard Mullin Richter & Hampton LLP and Mingu Lee of Samsung SDS America.

  • The Mistakes Lawyers Make When Copying And Pasting

    Robert D. Lang

    We all recognize that cutting or copying text from earlier works and pasting it into new documents saves attorneys time. However, with this increase in speed comes an increased risk of making, or not catching, errors, says Robert Lang of D’Amato & Lynch LLP.

  • Opinion

    Calif. Court Gets Automatic Funding Disclosure Right

    Matthew D. Harrison

    Detractors of litigation funding have strained to characterize a recent decision from a California federal court as significant headway in their crusade against the litigation funding industry. However, in truth, this is a victory for both the industry and those in need of capital to bring meritorious claims against wrongdoers in an often prohibitively expensive legal system, say Matthew Harrison and Priya G. Pai of Bentham IMF.

  • Consensus Returns On Corporate Insurance Transfers In M&A

    Michael H. Ginsberg

    The California Supreme Court recently reversed its 2003 decision in Henkel v. Hartford, where it previously held that a no-assignment clause will bar the transfer of insurance coverage rights to a successor entity. The clear majority trend among courts across the country is to uphold the ability of parties to transfer coverage in corporate transactions and prevent the forfeiture of historical insurance assets, say Michael Ginsberg ... (continued)

  • Civil Litigation Outlook For 2017

    Reid Schar

    Several areas of civil litigation appear poised for growth this year, including securities class action activity, which could outpace even the significant 2016 levels, and trade secret litigation, which could see further growth in the coming year under the Defend Trade Secrets Act. Meanwhile, as companies increasingly face the specter of data breaches, several developments in 2017 could bring greater clarity to this area of the law... (continued)

  • Legal Pot Industry Bugged By Lack Of Pesticide Guidance

    Telisport W. Putsavage

    Marijuana cultivation suffers from the same pest and disease pressure as any large commercial greenhouse operation. However, the circumstance unique to this setting is that any use of a pesticide in the cultivation of marijuana is a violation of federal law, says Telisport Putsavage of Putsavage PLLC.

  • Del. High Court's Volcano Ruling Confirms Corwin's Potency

    Gail Weinstein

    The Delaware Supreme Court's recent decision in Volcano Stockholders Litigation is consistent with the Delaware courts’ continued expansive interpretation of the seminal Corwin v. KKR Financial decision, which has resulted in a strong trend of early dismissal of post-closing damages actions challenging noncontroller M&A, say attorneys with Fried Frank Harris Shriver & Jacobson LLP.