Delaware

  • May 26, 2017

    Quick Action Denied On Pause To Yahoo Pay Vote Meeting

    A Yahoo Inc. investor was denied expedited handling Friday for a preliminary injunction motion in Delaware Chancery Court seeking to delay an executive pay vote at the company’s June 8 annual meeting if the company doesn’t meet a disclosure demand.

  • May 26, 2017

    Time Is Right To Address FCA Pleadings Split, Co. Argues

    It’s the right time for the U.S. Supreme Court to resolve a circuit split over the level of detail required for a False Claims Act suit to survive dismissal, Victaulic Co. said in a recent petition contesting a Third Circuit ruling that revived an FCA suit against the company.

  • May 26, 2017

    Investors Denied $4.5B Bump-Up In PetSmart Appraisal Suit

    A more than two-year Delaware Chancery Court battle over PetSmart Inc.’s $8.7 billion sale price ended squarely where it began Friday, with a vice chancellor’s ruling that stockholders failed to justify claims for a $4.5 billion higher share value.

  • May 26, 2017

    Penthouse Must Return Control Of Websites To FriendFinder

    A group of adult websites must be returned to FriendFinder Networks Inc. after a Delaware Chancery Court judge determined Friday they shouldn’t have been included in a sale of its Penthouse business unit in 2016.

  • May 26, 2017

    Attys Seek $5M In Junk Bond Meltdown Settlement

    Attorneys representing a class of investors suing over defunct junk bond fund Third Avenue Focused Credit Fund sought a Delaware Chancery Court's approval Wednesday for a $25 million settlement of the dispute and a $5 million fee award for the lawyers' work on the case.

  • May 25, 2017

    Qualcomm Socked With Investor Suit After Shares Dip 35%

    Investors in Qualcomm Inc. hit the semiconductor giant with a shareholder lawsuit in Delaware federal court Thursday, alleging its leadership dropped the ball by pushing hard-line policies that led to record-breaking antitrust fines and rushing a defective mobile chip to market that led to a major drop in sales.

  • May 25, 2017

    Venoco Hits Headwinds In Ch. 11 Over Shut-Down Wells

    Under fire from California city and state agencies for its handling of now-idle oil and gas wells on a site in Beverly Hills, Venoco LLC told a Delaware bankruptcy judge Thursday the dispute should be settled with Chapter 11 claims and not a court order to fund a permanent shutdown of the site.

  • May 25, 2017

    3rd Circ. Affirms Uber Win In Taxi Cos.' Competition Suit

    The Third Circuit on Thursday affirmed a victory for ride-hailing giant Uber, agreeing with a lower court that a group of Philadelphia taxi companies' unfair competition claims could not be based on licensing law violations for operating without local authorization. 

  • May 25, 2017

    SRI Gets $32M Added To $24M Patent Trial Win Against Cisco

    A Delaware federal judge on Thursday shut down Cisco’s efforts to nix a $24 million verdict won by SRI International in the companies’ dispute over network surveillance patents, and instead doubled the damages award and awarded SRI $8 million in attorneys' fees on top.

  • May 25, 2017

    TC Heartland Adds To Fed. Circ. Losing Streak At High Court

    In its blockbuster ruling this week restricting where patent infringement suits can be filed, the U.S. Supreme Court issued yet another blow to the Federal Circuit in an ongoing battle over whether the court is reading too much into statutes and creating too many elaborate rules for patent law.

  • May 25, 2017

    Optima's Ch. 11 Plan Could See Post-Petition Interest Fight

    A Delaware bankruptcy judge gave Optima Specialty Steel Inc. clearance Thursday on the disclosure statement for its Chapter 11 plan, which purports to ensure all creditors are unimpaired, but warned that a fight may be looming at confirmation over post-petition interest on notes held by DDJ Capital Management LLC.

  • May 25, 2017

    Limelight Tells Del. High Court Akamai Deal Misconstrued

    Limelight Networks Inc. is defending its right to walk away from a $40 million IOU to longtime patent rival Akamai, telling the Delaware Supreme Court in a Thursday filing that a judge read requirements into a settlement that were not there.

  • May 25, 2017

    3rd Circ. Revives Effort To Halt Abortion Clinic Protest Ban

    The Third Circuit upended a district court’s refusal to temporarily halt a Harrisburg, Pennsylvania, law banning protests within 20 feet of health care facilities, issuing a precedential ruling Thursday that the burden of proof was wrongly placed on the ordinance’s two pro-life challengers seeking injunctive relief.

  • May 25, 2017

    US Trustee Opposes $2.1M Katy Stalking Horse Bid Fees

    Defunct Katy Industries Inc. shouldn’t lock itself into an agreement to pay its stalking horse bidder $2.1 million in breakup fees if a higher bidder comes along, the federal bankruptcy watchdog told the Delaware bankruptcy court Wednesday, calling the fee excessive.

  • May 24, 2017

    State AGs Set Data Security Bar With Record $18.5M Pact

    State attorneys general flexed their privacy muscles Tuesday with a record $18.5 million settlement with Target over the retailer's 2013 data breach, highlighting not only a growing willingness to band together to tackle such issues, but also a desire to lay out specific standards that other businesses would be wise to follow.

  • May 24, 2017

    Sito Investor Says Voted-Out Board Is Squatting

    Five of targeted-ad company Sito Mobile Ltd.’s six board members were sued in Delaware Chancery Court on Wednesday by a shareholder who says they failed to relinquish their board seats after a vote that removed them.

  • May 24, 2017

    3rd Circ. Ends Amarin Shareholder Row Over Heart Drug

    The Third Circuit upheld the dismissal of a securities class action against biopharmaceuticals maker Amarin on Tuesday, agreeing with a New Jersey district court that the company’s statements about the FDA approval process for a fish oil drug were not misleading to investors.

  • May 24, 2017

    Scripts Unit Awarded $4.6M Refund Withheld By Co. Suing It

    The Delaware Court of Chancery on Tuesday ordered a health company to turn over to an Express Scripts unit that it’s suing for fraud a $4.6 million tax refund it owes based on the sale of a subsidiary, as the chancellor ruled that the lawsuit from the sale had nothing to do with the tax owed.

  • May 24, 2017

    Marsh Unsecured Creditors Sweat 'Extremely' Quick Sale Plan

    The official committee of unsecured creditors in the Marsh Supermarkets Holding LLC bankruptcy took aim late Tuesday at what the committee called the debtor’s “extremely expedited” sale plans for more than 40 of its best locations, arguing the crunched schedule could doom Marsh to failure.

  • May 24, 2017

    Nuverra Creditors Nix Ch. 11 Plan, Cite Priority Fouls

    A Nuverra Environmental Solutions Inc. noteholder trustee accused the bankrupt oil field services company on Wednesday of fielding an “impermissible and unconfirmable” Chapter 11 plan that fully pays general unsecured creditors without providing any cash to holders of $41 million in notes.

Expert Analysis

  • Series

    Revisiting Affiliated Ute: A Rare Presumption In 11th Circ.

    Brian Miller

    The Eleventh Circuit has made clear that it will strictly construe the U.S. Supreme Court's Affiliated Ute decision as well as the omission language of Rule 10b-5(b). This will continue to present challenges to the plaintiffs bar in this circuit, say Brian Miller and Samantha Kavanaugh of Akerman LLP.

  • My Milkshake Is Better Than Yours: Part 2

    Jill Dessalines

    In the second installment of this two-part series on disruptive innovation among mid-size law firms, Jill Dessalines, founder of Strategic Advice for Successful Lawyers and former senior vice president at McKesson Corp., explores a number of ideas for keeping clients and maintaining market position.

  • Noncompete Agreements Under Siege At The State Level

    James Hammerschmidt

    Compared with many other areas of employment law, the law of noncompetition agreements has been relatively static. More recently, however, many states have turned their attention to noncompetes and considered significant changes in how they are used and enforced, say attorneys with Paley Rothman.

  • My Milkshake Is Better Than Yours: Part 1

    Jill Dessalines

    As I sat there listening, incredulous to learn that "Milkshake" was not only a real song but also a chart-topper, it reminded me of Harvard Business School Professor Clayton Christensen’s work on disruptive innovation — and how it pertains to mid-size law firms, says Jill Dessalines, founder of Strategic Advice for Successful Lawyers and former assistant general counsel of McKesson Corp.

  • The Risk Of Liability After A Preferred Stock Redemption

    Gail Weinstein

    The Delaware Chancery Court's recent decision in Frederic Hsu Living Trust v. ODN highlights the potential liability that private equity sponsors and directors face when preferred stock held by the sponsor is redeemed. If future decisions intensify this risk, sponsors could consider alternative investment structures, say attorneys with Fried Frank Harris Shriver & Jacobson LLP.

  • TC Heartland Paves Road To 'The Delaware Way'

    Denise Kraft

    The U.S. Supreme Court's TC Heartland decision this week will likely lead to more patent litigation filings in Delaware, which will lead to more patent litigators following the bedrock principles required of every attorney who practices in the District of Delaware — a level of professionalism we call "The Delaware Way," says Denise Kraft of DLA Piper LLP.

  • Series

    Revisiting Affiliated Ute: And Its Limits In The 5th Circ.

    Susanna Buergel

    Given the perceived higher hurdles to class certification, it is likely that counsel for plaintiffs in securities cases will seek to recharacterize their claims as omission claims to take advantage of the 45-year-old Affiliated Ute presumption. In the Fifth Circuit, that will be a challenging task, say attorneys with Paul Weiss Rifkind Wharton & Garrison LLP.

  • Back To The Fourco: High Court's New, Old Patent Venue Test

    Brian Ferguson

    For nearly 30 years, courts have liberally construed the patent venue statute. But no more — on Monday the U.S. Supreme Court reinstated its 1957 Fourco interpretation of the statute. This decision in TC Heartland will have a profound and immediate impact on patent litigation, say Brian Ferguson and Rahul Arora of Weil Gotshal & Manges LLP.

  • Series

    Revisiting Affiliated Ute: Back In Vogue In The 9th Circ.

    Michele Johnson

    While there are still very few district court decisions within the Ninth Circuit to have analyzed the relationship between the Affiliated Ute and the fraud-on-the-market presumptions of reliance since the U.S. Supreme Court’s 2014 Halliburton decision, plaintiffs are increasingly attempting to plead both theories, as demonstrated by several recent decisions, say Michele Johnson and Colleen Smith of Latham & Watkins LLP.

  • Attorneys, Your Input Is Needed On Deposition Rule

    Frank Silvestri, Jr.

    Every lawyer who’s handled a civil case in federal court knows about Rule 30(b)(6), governing deposition procedures. But for many real-world deposition dilemmas, the rule offers little guidance. Last year, an Advisory Committee on Civil Rules subcommittee began considering whether the rule should be amended. Now attorneys must advise the subcommittee how to proceed, says Frank Silvestri Jr. of Verrill Dana LLP.