AOL Inc. investors who sued for a 28 percent stock price boost in the company’s $50-per-share, $4.4 billion sale to Verizon Communications Inc. in 2015 wound up with less Friday after a Delaware vice chancellor calculated a $48.70-per-share fair value for the deal.
The bankruptcy trustee of doomed Ponzi vehicle DBSI Inc. has moved for a quick win in its claw back suit against the IRS in Idaho federal court, arguing the federal tax authority is still on the hook for $3.6 million the company used to pay its principals’ income taxes.
Blue Bell Creameries USA Inc. urged Delaware’s Chancery Court late Thursday to dismiss a derivative suit that seeks damages for alleged director and officer failures to protect products from pathogenic listeria contamination blamed for sickening customers.
Bankrupt trucking firm Jevic Holding Corp. filed a modified settlement deal late Thursday in Delaware that it said addresses a U.S. Supreme Court ruling in relation to the structured dismissal of its Chapter 11 case and provides for payments of priority claims asserted by a group of terminated employees.
Trump International Hotels Management LLC and an affiliate hit back Thursday at a Panamanian law firm’s request to remand its suit accusing the Trump entities of improperly responding to arbitration over a “mismanaged” hotel by pulling the firm into the fight, telling a Delaware federal court that the matter doesn’t belong in state court.
Investors who sued to get 39 percent more for their stock after the 2015 sale of financial services firm SWS Group Inc. yet wound up getting 7.8 percent less after a Chancery Court appraisal got no help from Delaware’s Supreme Court Friday, which let stand the trimmed price of $6.38 per share.
Energy Future Holdings Inc. told a Delaware bankruptcy judge Friday that it was nearing resolution of an objection to its Chapter 11 plan ahead of a confirmation hearing set to begin Monday, saying issues over a $275 million reserve fund could be worked out before then.
New York, California, 13 other states and the District of Columbia urged an Illinois federal court Thursday to deny the federal government’s bid to toss Chicago’s lawsuit challenging the Trump administration’s efforts to withhold federal public safety grant funds from so-called sanctuary cities, saying the move is unlawful.
The bitter feud between Palantir Technologies Inc. and an early investor accused of stealing its trade secrets took another turn on Thursday after the Delaware Chancery Court ruled the secretive data analysis company must turn over internal information to KT4 Partners LLC.
The lead counsel in three Delaware post-merger stock price challenges that failed to win higher prices urged a vice chancellor Thursday to stay two earlier, remanded cases pending appeal of the latest, or to reopen the appraisal case record for Dell’s $25 billion go-private deal in 2013.
A company holding several patents related to radio-controlled cars and planes asked to have the automatic stay of litigation lifted in Hobbico Inc.'s Chapter 11 case Thursday, saying its infringement claims against the debtor needed to be resolved in Texas federal court before the case could move forward.
The Third Circuit said Wednesday that a magistrate judge overstepped her authority when she let the FBI use malware to identify suspects in a massive child pornography sting, but broke new legal ground by ruling that the evidence was allowed because law enforcement had obtained the search warrant in good faith.
The Third Circuit on Wednesday affirmed a ruling for Windrift Hotel Resort in litigation brought by a woman whose leg was amputated after she contracted sepsis and a bacterial skin infection from raw clams, saying there wasn’t enough evidence that the Jersey Shore establishment was to blame for the allegedly defective food.
Three Pennsylvania attorneys sanctioned for lodging a groundless proposed class action against a surgery center were granted a reprieve from paying approximately $38,000 in penalties after a federal judge halted the case on Wednesday pending a Third Circuit appeal.
Experts proposed to testify on issues about interest bonds at the plan confirmation hearing of Energy Future Holdings Inc. will not be permitted to take the stand next week after a Delaware judge said Thursday those issues aren’t relevant to confirmation.
A Delaware bankruptcy judge put off a ruling Thursday on lienholder efforts to seek Texas court assignment of creditor priorities in M&G USA Corp.’s $1.7 billion Chapter 11, saying that an upcoming plant sale could clarify prospects for recoveries.
The man who won a federal court decision in December against Delaware’s requirement for political party balance on its judicial bench appointments accused Gov. John Carney on Wednesday of ignoring the ruling with a recent notice about a vacancy.
Attorneys for shareholders of financial services firm SWS Group Inc. told a panel of the Delaware Supreme Court that a lower court decision significantly lowering the fair value of company shares in an appraisal action was flawed because it didn’t consider an increase in the number of SWS shares outstanding.
A luxury women's shoe and accessory retailer will seek to liquidate its stores in order to pay off debt incurred as a result of nearly $20 million in intercompany transfers in recent years that helped keep the company afloat, according to court filings made in Delaware on Wednesday.
The Woodbridge Group asked a Delaware bankruptcy judge late Wednesday to approve its entry into a consent order with California regulators barring the company from future securities sales, without admitting wrongdoing but also without a right to further state hearings.
It is too early to assess the full reach that Dell will have on appraisal in Delaware. But the Delaware Chancery Court's ruling last week in Verition Partners v. Aruba Networks provides a first look, say John Hughes and Jack Jacobs of Sidley Austin LLP.
Any cannabis business that is holding its breath waiting for the U.S. Patent and Trademark Office to start registering cannabis-related trademarks should give up. But those located in states that have legalized recreational and/or medicinal cannabis should immediately seek state trademark registration where available, says Joshua Cohen, leader of Wendel Rosen Black & Dean LLP's intellectual property group.
As distributed ledgers and blockchains emerge as means for processing and recording corporate and commercial transactions, the Delaware LLC may become an attractive organizational form for next-generation "decentralized autonomous organizations," say attorneys with Potter Anderson Corroon LLP.
Late last year, the Sedona Conference released the third edition of its principles addressing electronic document production, updated to account for innovations like Snapchat and Twitter. It may be necessary for these principles to be updated more often in order to keep pace with technology, says Charles McGee III of Murphy & McGonigle LLP.
Last week, the District of Delaware raised eyebrows by ruling that documents provided to a litigation funder and its counsel in connection with their due diligence are categorically not attorney work product. Acceleration Bay v. Activision Blizzard seems to be a case of bad facts making bad law, says David Gallagher, investment manager and legal counsel for Bentham IMF.
Artificial intelligence tools can empower attorneys to work more efficiently, deepen and broaden their areas of expertise, and provide increased value to clients, which in turn can improve legal transparency, dispute resolution and access to justice. But there are some common pitfalls already apparent in the legal industry, say Ben Allgrove and Yoon Chae of Baker McKenzie.
Retail and consumer products companies can no longer afford to ignore blockchain as a passing trend. From tracing the source of a defective item, to verifying products' authenticity, to simplifying international shipping, to streamlining consumer loyalty programs, blockchain is increasingly becoming a valuable tool, say Scott Kimpel and Mayme Beth Donohue of Hunton & Williams LLP.
Contractual nonreliance provisions, sometimes called “big boy” letters, have received their fair share of attention, but little attention has been paid to the effect forum selection and choice-of-law issues have on such provisions. The choice of where to litigate and which law will govern can significantly impact, if not conclusively determine, the outcome of a dispute, say Amy Park and Niels Melius of Skadden Arps Slate Meagher & Flom LLP.
In "Justice and Empathy: Toward a Constitutional Ideal," the late Yale Law School professor Robert Burt makes a compelling case for the undeniable role of the courts in protecting the vulnerable and oppressed. But the question of how the judiciary might conform to Burt’s expectations raises practical problems, says U.S. Circuit Judge Allyson Duncan of the Fourth Circuit.
Two new policies from the U.S. Department of Justice, along with ongoing developments concerning the elements of scienter and materiality stemming from the landmark U.S. Supreme Court decision in Escobar, have the potential to significantly change the landscape of False Claims Act enforcement in the year ahead, say attorneys with Holland & Knight LLP.