Merck will pay Bristol-Myers Squibb $625 million to end an ongoing intellectual property battle over an immunotherapy cancer treatment, the companies announced on Friday, ending multiple cases including three lawsuits in Delaware federal court and setting up a 10-year licensing agreement.
A Delaware Chancery judge late Thursday threw out derivative claims accusing United Parcel Service Inc. directors of faulty oversight that led to an alleged scheme to haul untaxed cigarettes, ruling the suing shareholders hadn’t shown it would have been futile to take the claims to the company’s board.
The National Retail Federation on Thursday backed Marathon Petroleum’s appeal of the dismissal of its challenge to a Delaware law that allows the state to carry out business audits in search of seizable abandoned property, including prepaid gift cards, telling the Third Circuit it's clear the state is abusing the audit process.
Attorneys for IMX Acquisition Corp. stockholders offered a $2 million cap Friday on future regular litigation fees for a potential suit against company lenders, citing far higher potential damage recoveries for lender tactics that allegedly drove the company into a Delaware bankruptcy court.
A $5.6 million settlement to resolve class claims brought by the shareholders of Physicians Formula Holdings Inc. over an ignored merger offer in 2012 received the approval of the Delaware Chancery Court on Friday.
Nortel Networks Inc. received a bevy of support in Delaware bankruptcy court Thursday in pushing for the confirmation of a long-awaited Chapter 11 plan the company says has few objectors and is the “best and only” way to resolve its bankruptcy.
A new look at the potential U.S. Supreme Court nominees’ rulings reveals a ranking of judicial influence with some surprises at the top — and at the bottom.
Jones Day’s Donald McGahn is stepping into the role of White House counsel, a powerful but little-understood position that has a strong history of impacting the president’s authority.
The alignment of law firms with or against the new administration in legal battles to come could open rifts among attorneys and clients. But the publicity earned for taking on a potentially unpopular case could ultimately be worth any public fallout.
The incoming president’s plans to rein in the power of federal agencies will lead to uncertainty for lawyers and their clients as pending investigations and rulemaking are stopped in their tracks.
Secured creditors of Implant Sciences Inc., a subsidiary of IMX Acquisition Corp., objected Wednesday in Delaware to the company’s equity holders’ request to bring litigation against the lenders in New York state court, saying the litigation will be wasteful and isn’t warranted in the case.
The Chapter 11 trustee in the case of oil rig owner Bennu Titan LLC told a Delaware bankruptcy judge Thursday that the liquidation cases of Bennu Titan's parent company should be transferred to the First State from Texas in the interest of justice and judicial economy.
A pared-down libel suit will go ahead against an association battling another investor group for control of a telecommunication license investment company, under a Delaware Chancery Court ruling Thursday that rejected a defense based on a law limiting “strategic” lawsuits.
Optima Specialty Steel Inc.’s unsecured creditors committee took issue Thursday with the debtor’s decision to do “an abrupt about-face” and abandon a post-petition loan from its nondebtor parent company to go with an alternative offered by noteholders that the unsecured lenders argue is vastly inferior.
BioScrip Inc. stockholder attorneys worked to rescue their corporate wrongdoing lawsuit against company directors in a hearing Thursday in the wake of an earlier, groundbreaking Chancery Court ruling that obliged them to amend their original action and target a different slate of directors.
A Delaware Chancery judge on Thursday threw out derivative claims connected to the $10 million severance payment received by former Mattel CEO Bryan Stockton when he left the company, compensation that suing shareholders claimed Stockton was not entitled to under the company’s executive severance plan.
Dell Inc. told the Delaware Supreme Court on Wednesday that the Chancery Court abused its discretion when it appraised the company’s $24.9 billion buyout as undervalued by nearly 30 percent by refusing to even consider the actual market price of the deal.
As the Delaware Supreme Court considered an appeal Wednesday of Chancellor Andre G. Bouchard’s decision to order the sale of a legal translation firm, employees of TransPerfect protesting outside said they intend to push the First State to curb the Chancery Court’s power when appointing corporate custodians.
Attorneys for Lululemon Athletica Inc. stockholders told Delaware's Supreme Court on Wednesday that the Chancery Court wrongly shot down their challenge to a suspiciously timed $80 million stock sale by the sports clothing company's chairman.
The question of whether the Delaware Chancery Court violated the U.S. Constitution when it ordered the sale of legal translation firm TransPerfect took center stage Wednesday before the state Supreme Court, with celebrity constitutional lawyer Alan Dershowitz engaging in a pointed exchange with Chief Justice Leo E. Strine Jr.
Last year saw several large portfolio trades in the tertiary life settlements market, and the industry faced cost of insurance increases by several major companies. Brian Casey and Thomas Sherman of Locke Lord LLP discuss 2016's most important life settlements court cases from all around the country.
In its systematic, careful and Rule 23-specific opinion in Briseno v. ConAgra, the Ninth Circuit found a way to eviscerate the Third Circuit’s views on “ascertainability.” This important opinion may not end the debate, but it may engender new thinking from the Third and Fourth Circuits, says Fred Taylor Isquith of Wolf Haldenstein Adler Freeman & Herz LLP.
A year after the Delaware Chancery Court announced in Trulia that the paragon of nuisance settlements — the “disclosure only” settlement — would no longer be welcome, deal litigation is still common and, increasingly, it is avoiding Delaware. This is because of the failure of the forum-selection solution advertised in Trulia, says professor Sean Griffith of Fordham University School of Law.
While some courts have declined to apply the common-law doctrine of champerty to invalidate third-party litigation funding agreements, two recent rulings by appellate courts in New York and Pennsylvania have brought renewed attention to champerty principles, casting doubts on the legality of certain forms of third-party litigation funding, say John Beisner and Jordan Schwartz of Skadden Arps Slate Meagher & Flom LLP.
Last month in Delaware federal court, the jury in Idenix v. Gilead awarded Idenix $2.54 billion, the largest patent damages award in history. A review of the trial transcripts and documents provides valuable insight that can be applied to patent damages cases of all shapes and sizes, says Barry Herman of Womble Carlyle Sandridge & Rice LLP.
Instead of trying to change the new workforce to follow a law firm's existing processes and procedures, perhaps it's time for firms to start changing their processes and procedures to better accommodate the mentality of this next generation of lawyers, says Christopher Imperiale, a law firm adviser with Berdon LLP.
Trying to prognosticate what President-elect Donald Trump will do is very difficult. But assuming he does seek to implement change at the U.S. Environmental Protection Agency, if it's perceived as backing off of environmental enforcement, private parties will step in and cases will likely be even more expensive, more problematic and more unreasonable than those brought by the EPA and the states, says Mitchell Klein of Snell & Wilmer LLP.
As home to high art auction prices and hefty sales and use taxes, New York City has seen its share of art-related tax fraud. Now, as law enforcement scrutinizes tax compliance in the art world, collectors may wish to avoid New York sales taxes legally, by shipping their purchases to a domestic freeport, say Desiree Moore and Blaise Niosi of K&L Gates LLP.
Every year, statistics reveal very little change in the number of women and minorities in the ranks of partnership. So how do law firms change this painfully slow rate of progress? It takes more than adding a diversity policy or a women’s leadership program to the current law firm business model, says Lucia Chiocchio, co-chair of Cuddy & Feder LLP's telecommunications and land use, zoning & development groups.
Following the U.S. Supreme Court's decision in Halo last year, district courts have taken diverging approaches to the pleading requirements for willful infringement. Some courts set a relatively low bar, and others set a relatively high bar, say Natalie Hanlon Leh and Michael Silhasek of WilmerHale.