Delaware

  • March 28, 2024

    Investors Strike $42.5M Deal In Brookfield-GGP Merger Suit

    Brookfield Property Partners LP has reached a tentative $42.5 million deal to bring an end to a yearslong battle with stockholders who alleged they were given misleading information about the global real estate company's 2018 acquisition of U.S. mall operator GGP Inc.

  • March 28, 2024

    3rd Circ. Says Missing Dates Can DQ Pa. Mail-In Votes

    A split Third Circuit panel ruled late Wednesday that Pennsylvania mail-in ballots returned with missing or incorrect dates on their outer envelope can be discarded, with the majority finding a Civil Rights Act prohibition on disqualifying voters based on "immaterial" paperwork errors applied only to voter registration, not the act of voting itself.

  • March 28, 2024

    Chancery Dismisses Carvana Shareholders' Stock Offer Suit

    Delaware's Court of Chancery has dismissed a derivative suit from stockholders of online used car retailer Carvana who sued the company's founders over a $600 million direct stock offering, finding that a two-person special litigation committee that the company created to investigate the matter had done its job properly.

  • March 28, 2024

    Ex-Paralegal's Jobless Pay Ruling Correct, Del. Justices Told

    Delaware opposes a former Morris James LLP paralegal's bid for the state's Supreme Court to revive his attempt to collect a year's worth of unemployment benefits, arguing a lower court correctly upheld denial of pay after he settled whistleblower claims against the firm.

  • March 28, 2024

    Another Senate Dem Comes Out Against 3rd Circ. Nominee

    A third Senate Democrat, Jacky Rosen of Nevada, has come out against Third Circuit nominee Adeel Mangi, who would be the first Muslim federal appellate judge if confirmed, thus putting his nomination in further peril.

  • March 28, 2024

    Bankman-Fried Gets 25 Years For 'Very Bad Bet' Of FTX Fraud

    FTX founder Sam Bankman-Fried was sentenced Thursday to 25 years in prison for stealing more than $11 billion from customers, investors and lenders of his now-collapsed cryptocurrency empire, with a Manhattan federal judge saying the infamous risk-taker "made a very bad bet about the likelihood of getting caught."

  • March 27, 2024

    Hunter Biden Judge Doubts Tax Charges Politically Motivated

    A California federal judge Wednesday appeared unpersuaded by Hunter Biden's claim that the special counsel's decision to file criminal tax charges after a plea deal collapsed was motivated by pressure from Republican lawmakers, remarking that "there really is no evidence to support that contention."

  • March 27, 2024

    DOJ, SEC Looking At Chemours After Internal Accounting Probe

    The Chemours Co. said on Wednesday that the U.S. Securities and Exchange Commission and the U.S. Department of Justice have launched a probe into the chemical company after an internal review revealed that former executives engaged in unethical accounting practices.

  • March 27, 2024

    Backers Of Trump-Tied SPAC Sue To Confirm Manager Purge

    Investors behind the sponsor of the special-purpose acquisition company that took Donald Trump's Truth Social public sued its managing member, seeking a declaration from the Delaware Chancery Court that they have validly removed him from his post and that he has no authority to act on their behalf.

  • March 27, 2024

    Yellow Corp. Pension Fund Liability To Be Decided In Ch. 11

    A Delaware bankruptcy judge on Wednesday denied the Pension Benefit Guaranty Corp.'s bid to take a dispute with Yellow Corp. over $7.8 billion in retirement fund withdrawal liability claims to arbitration, finding the dispute would be best resolved through the trucking firm's Chapter 11 claims allowance process.

  • March 27, 2024

    COVID Prompted Equity Plan Edit, Raytheon Tells Chancery

    Raytheon Technologies Corp. amended employee compensation plans in early 2020 to mitigate "head-spinning unprecedented volatility" from the COVID-19 pandemic, and a shareholder's allegations that directors acted in bad faith by failing to seek stockholder approval should be dismissed, the aerospace company told Delaware's Court of Chancery on Wednesday.

  • March 27, 2024

    Chancery Sides With Cannabis Company On Legal Fees Row

    A Delaware Court of Chancery judge at a Wednesday hearing gave Left Coast Ventures Inc. time to fulfill a court order requiring it to cover legal fees for three former directors of the cannabis company defending a merger-related suit, after a company attorney told the judge the money will be coming.

  • March 26, 2024

    SPAC 'Frenzy' Led To $1.6B Deal For Dog Treat Co., Suit Says

    Shareholders of a special-purpose acquisition company that merged with dog-treat box company BarkBox in a $1.6 billion deal have sued the executives and directors of both entities, alleging they breached their fiduciary duties in connection with what the complaint calls "an extreme example of the 'churn-and-burn' SPAC frenzy."

  • March 26, 2024

    FTX Says Millions In Ch. 11 Token Claims Should Be Zeroed

    Cryptocurrency exchange FTX Trading Ltd. argued in court Tuesday that a Delaware bankruptcy judge should estimate the claims of customers holding some digital tokens at a heavy discount for Chapter 11 purposes, including zeroing out hundreds of millions of dollars in token value.

  • March 26, 2024

    SPAC Investors Misled In $1.35B Stem Deal, Del. Suit Says

    A former stockholder of a blank-check company that merged with intelligent energy storage business Stem Inc. filed a proposed class action in Delaware's Court of Chancery Tuesday, alleging breaches of fiduciary duty and unjust enrichment in connection with the April 2021 merger.

  • March 26, 2024

    3rd Circ. Says EMS Transport Without Consent Is Med Mal

    A patient who was transported to a Pennsylvania hospital against his will was effectively making a medical malpractice claim against the emergency medical services technicians and needed to file a "certificate of merit" to back up such a claim, a split Third Circuit panel ruled Tuesday.

  • March 26, 2024

    Sony Ducks $500M PlayStation Patent Suit In Del.

    A Delaware federal court has sided with Sony in a $500 million patent infringement suit brought by Genuine Enabling Technology LLC over PlayStation consoles, marking a close to the case.

  • March 26, 2024

    Pot Co. Withholding Fees Despite Court Order, Chancery Told

    Three former directors of Left Coast Ventures Inc. say the cannabis company still hasn't advanced their legal defense fees for a merger-related lawsuit despite a court order to do so, and are now seeking help from Delaware's Court of Chancery to get the bills paid.

  • March 25, 2024

    Rivian's Brass Sued In Del. Over Vehicle Pricing Whiplash

    A shareholder of California-headquartered electric vehicle manufacturer Rivian Automotive Inc. has filed a derivative suit against the company's top brass in Delaware's Court of Chancery, alleging they made false and misleading statements concerning Rivian's financial model, including about production costs and pricing for its EV pickup truck and SUV.

  • March 25, 2024

    J&J Exec 'Shocked' Over Atty's Ties With Talc Plaintiffs

    Johnson & Johnson's vice president of litigation said on Monday he was "utterly shocked and appalled" upon learning an attorney who served as the company's outside counsel was working with its adversary Beasley Allen Law Firm and one of its attorneys in litigation over the alleged link between the company's talcum powder products and ovarian cancer.

  • March 25, 2024

    3rd Circ. Says NJ City Can't Stop Sale Of Failed Project's Sites

    The Third Circuit tossed a New Jersey city's challenge of a bankruptcy court ruling that allowed the two local properties of a failed affordable housing project to be sold to a third party, according to an unpublished opinion Monday.

  • March 25, 2024

    Del. Justices Undo Toss Of Brookfield-TerraForm Merger Suit

    Delaware's Supreme Court on Monday reversed the dismissal of a suit from former shareholders of TerraForm Power Inc. who challenged a squeeze-out merger by Brookfield Asset Management Inc., concluding a proxy statement failed to fully disclose alleged conflicts of interest involving special advisers Morgan Stanley & Co LLC and Kirkland & Ellis LLP.

  • March 25, 2024

    FTX Reaches Deals For $884M In Ch. 11 AI Biz Stock Sales

    Bankrupt cryptocurrency exchange FTX Trading Ltd. informed a Delaware court that it has reached agreements with two dozen purchasers for sales of the debtor's holdings in artificial intelligence company Anthropic PBC worth $884.1 million.

  • March 25, 2024

    X Can't Boot Severance Suit To Arbitration, Ex-Worker Says

    A former employee told a Delaware federal court that X Corp. can't derail a suit alleging it owes $500 million for skimping on severance pay after Elon Musk took over and fired thousands of workers, saying X breached the pact it's trying to use to force arbitration.

  • March 25, 2024

    3rd Circ. Won't Rethink AbbVie Privilege Ruling

    The Third Circuit refused Monday to reconsider a ruling that found AbbVie was unable to show a lower court went against precedent or made errors when ordering the drugmaker to turn over attorney communications from a patent case allegedly meant to delay an AndroGel rival.

Expert Analysis

  • Tips For Litigating Against Pro Se Parties In Complex Disputes

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    Litigating against self-represented parties in complex cases can pose unique challenges for attorneys, but for the most part, it requires the same skills that are useful in other cases — from documenting everything to understanding one’s ethical duties, says Bryan Ketroser at Alto Litigation.

  • What Whistleblowing Trends Mean For Securities Litigation

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    A recent survey on whistleblowing-related topics suggests several valuable lessons for companies to consider regarding securities and shareholder litigation, and underscores the need to implement and advertise robust whistleblowing policies to employees, say attorneys at Freshfields.

  • Del. Dispatch: Lessons From Failed ETE-Williams Merger

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    Attorneys at Fried Frank delve into the Delaware Supreme Court's recent decision in Energy Transfer v. Williams to highlight the major monetary consequences of a failed merger, and show why merger agreement drafting and factual context are of utmost importance.

  • Pro Bono Work Is Powerful Self-Help For Attorneys

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    Oct. 22-28 is Pro Bono Week, serving as a useful reminder that offering free legal help to the public can help attorneys expand their legal toolbox, forge community relationships and create human connections, despite the challenges of this kind of work, says Orlando Lopez at Culhane Meadows.

  • Why Delaware ABCs Are No Longer As Easy As 1-2-3

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    In light of the Court of Chancery's recent focus on additional disclosures, the assignment for the benefit of creditors process in Delaware may no longer be as efficient as it once was, and companies should be prepared to provide significantly more information leading up to an ABC, say attorneys at Goodwin.

  • Series

    Playing In A Rock Cover Band Makes Me A Better Lawyer

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    Performing in a classic rock cover band has driven me to hone several skills — including focus, organization and networking — that have benefited my professional development, demonstrating that taking time to follow your muse outside of work can be a boon to your career, says Michael Gambro at Cadwalader.

  • Series

    The Pop Culture Docket: Judge Espinosa On 'Lincoln Lawyer'

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    The murder trials in Netflix’s “The Lincoln Lawyer” illustrate the stark contrast between the ethical high ground that fosters and maintains the criminal justice system's integrity, and the ethical abyss that can undermine it, with an important reminder for all legal practitioners, say Judge Adam Espinosa and Andrew Howard at the Colorado 2nd Judicial District Court.

  • How Del. 'Arising Out Of' Ruling May Affect Insurance Cases

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    The Delaware Supreme Court decision in Ace American Insurance v. Guaranteed Rate focused on a professional services exclusion, but the ruling has wide-ranging application in insurance coverage disputes involving any exclusions that employ "arising out of" or similar prefatory language, say Keith McKenna and Maria Brinkmann at Cohen Ziffer.

  • Balancing Justice And Accountability In Opioid Bankruptcies

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    As Rite Aid joins other pharmaceutical companies in pursuing bankruptcy following the onslaught of state and federal litigation related to the opioid epidemic, courts and the country will have to reconcile the ideals of economic justice and accountability against the U.S. Constitution’s promise of a fresh start through bankruptcy, says Monique Hayes at DGIM Law.

  • Unearthing The Lesser-Known 'Buried Facts' Doctrine

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    A New York federal judge’s recent suggestion that the “buried facts” doctrine may be applicable in the fraud trial of FTX cofounder Sam Bankman-Fried should serve as a reminder to attorneys in all kinds of cases involving corporate disclosures that this lesser-known rule could torpedo their defense, say Corban Rhodes and Li Yu at DiCello Levitt.

  • Opinion

    Newman Suspension Shows Need For Judicial Reform

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    The recent suspension of U.S. Circuit Judge Pauline Newman following her alleged refusal to participate in a disability inquiry reveals the need for judicial misconduct reforms to ensure that judges step down when they can no longer serve effectively, says Aliza Shatzman at The Legal Accountability Project.

  • 9th Circ. Ruling Expands The Horizons Of Debt Discharge

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    The Ninth Circuit Bankruptcy Appellate Panel’s recent ruling in RS Air v. NetJets demonstrates that creditors should not be quick to conclude that their recoveries are limited if a debtor commences bankruptcy and receives a discharge, and should instead consider other potential paths for recovery, like alter ego claims, say Dania Slim and Claire Wu at Pillsbury.

  • How And Why Your Firm Should Implement Fixed-Fee Billing

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    Amid rising burnout in the legal industry and client efforts to curtail spending, pivoting to a fixed-fee billing model may improve client-attorney relationships and offer lawyers financial, logistical and stress relief — while still maintaining profit margins, say Kevin Henderson and Eric Pacifici at SMB Law Group.

  • Why Standing Analysis Is Key In Data Breach Mediation

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    Amid a growing wave of data breach class action litigation, recent legal developments show shifting criteria for Article III standing based on an increased risk of future identity theft, meaning parties must integrate assessments of standing into mediation discussions to substantiate their settlement demands in data breach class actions, says Abe Melamed at Signature Resolution.

  • Opinion

    Judicial Independence Needs Defense Amid Political Threats

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    Amid recent and historic challenges to the judiciary from political forces, safeguarding judicial independence and maintaining the integrity of the legal system is increasingly urgent, says Robert Peck at the Center for Constitutional Litigation.

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