Delaware

  • March 01, 2024

    MediaMath Floats Ch. 11 Dismissal After $22M Sale Of Assets

    Bankrupt adtech company MediaMath Holdings Inc. asked a Delaware bankruptcy judge to end its Chapter 11 case and allow it to dissolve, because it's sold off basically all it had for $22 million and there's nothing left to reorganize.

  • March 01, 2024

    Network Co. Directors Sue In Chancery To Stop Power Grab

    A power struggle at network connectivity services provider PacketFabric Inc. hit Delaware's Court of Chancery on Thursday, with an investor and two directors suing for a court declaration that they are still members of the board.

  • March 01, 2024

    Music App Shareholders Ask Chancery To OK Board Takeover

    Controlling stockholders of a music creation and social media app have sued in Delaware's Court of Chancery seeking to confirm that Swedish music producer and pop songwriter Andreas Carlsson had replaced the company's board, its CEO, and all of its directors and officers.

  • March 01, 2024

    Del. Jury Deadlocks In Roundup User's Cancer Death Trial

    A Delaware state jury deadlocked Friday after an 18-day trial on a South Carolina woman's suit blaming Monsanto Corp.'s Roundup herbicide for causing her husband's fatal cancer and seeking millions in damages.

  • March 01, 2024

    AstraZeneca Challenge To Medicare Drug Price Program Fails

    A Delaware federal judge on Friday rejected AstraZeneca's challenge to the Medicare price negotiation program, upholding the Biden administration's argument that the talks are voluntary.

  • February 29, 2024

    Two More Cos. Hit With 'In Concert' Delaware Bylaw Suits

    The number of class actions targeting companies' boards of directors and allegedly "coercive" bylaw provisions continues to grow, as two new investor suits were filed in Delaware's Court of Chancery against Massachusetts payments software company Flywire Corp. and California subscription software company Zuora Inc.

  • February 29, 2024

    Medtronic Expands Its Bladder Device Patent Fight

    Medical device conglomerate Medtronic has opened two more fronts in its fight over a new kind of "neuromodulation solution" for bladder and bowel control issues that's at the center of its ongoing intellectual property dispute with a newer and smaller rival, a recent acquisition of Boston Scientific.

  • February 29, 2024

    Chancery Preserves Class Suit Over Microsoft-Activision Deal

    An Activision Blizzard shareholder that sued in Delaware's Court of Chancery over the company's $68.7 billion sale to Microsoft Corp. got the nod Thursday to move forward with the proposed class action that alleges the merger process may have violated Delaware law.

  • February 29, 2024

    Lordstown To Pay $25M In SEC Probe Of Overhyped EVs

    Bankrupt automaker Lordstown Motors Corp. has agreed to return $25.5 million to shareholders who were allegedly drawn in by false assurances that the company had secured tens of thousands of pre-orders for electric trucks that it didn't even have the parts to build, the U.S. Securities and Exchange Commission announced Thursday.

  • February 29, 2024

    Stolen Funds Render FTX Clawback Moot, Embed Parties Say

    Parties associated with stock trading platform Embed Financial Technologies told a Delaware bankruptcy judge Thursday that defunct cryptocurrency exchange FTX Trading Ltd. can't claw back $240 million from a prepetition acquisition because the funds used to buy Embed were stolen from FTX customers.

  • February 29, 2024

    US Trustee Opposes Proterra Ch. 11 Plan's Future Exculpation

    The Office of the U.S. Trustee objected Thursday to the Chapter 11 plan of electric bus maker Proterra Inc., saying it includes exculpation provisions that would cover actions after it emerges from bankruptcy, and interferes with the payment of required quarterly fees to the trustee's office.

  • February 29, 2024

    Diamondback Board Conflicted In OK'ing $26B Deal, Suit Says

    Shareholders of Diamondback Energy Inc. have hit the company and its directors in Delaware's Chancery Court with a proposed class action, claiming its board members wrongfully voted in their own self-interest when approving Diamondback's $26 billion acquisition of another energy company with terms that will give the board members control over their reelection.

  • February 29, 2024

    Trump's Truth Social Merger Deal Lands In Del. Chancery

    Plans to take former President Donald Trump's social media platform Truth Social public came under fire in two Delaware Chancery Court lawsuits Wednesday, with investors on both sides of the deal alleging that the long-delayed merger would cheat them out of their shares.

  • February 29, 2024

    Yellow Corp. Gets Ch. 11 Control Extended To End Of July

    Bankrupt Yellow Freight Corp. has secured an extra 90 days to hold onto the wheel of its Chapter 11 case in Delaware, after citing both the complexity of its case and the "tremendous" progress in selling off its assets.

  • February 29, 2024

    NJ Towns Can't Sue Netflix, Hulu For Fees, 3rd Circ. Says

    Two New Jersey municipalities cannot sue Netflix and Hulu for franchise fees under the state's Cable Television Act, the Third Circuit held Thursday in a precedential opinion, saying the state statute reserves enforcement of the law to the state Board of Public Utilities.

  • February 29, 2024

    Chancery Rejects Leadership Bid Over Lack Of Del. Counsel

    A Delaware vice chancellor has denied a three-firm leadership bid in stockholder litigation over alleged mismanagement at a medical clothing company because no First State attorneys were on the proposed lead counsel team.

  • February 28, 2024

    Musk, Ex-Twitter Staff Fail To Reach Deal In Severance Dispute

    Settlement talks between X Corp., formerly known as Twitter, and a group of former employees have fallen apart, the parties told a Delaware federal judge on Wednesday, asking the judge to lift a stay in their dispute over severance compensation.

  • February 28, 2024

    Attys Get $750K Fee Award In $6M Med Tech Co. Deal

    Class attorneys for minority shareholders of Autonomous Medical Devices Inc. who secured a $6 million settlement to resolve claims about a purportedly underpriced stock sale to an interest of Oracle founder Larry J. Ellison won court approval of the settlement Wednesday, along with a requested $750,000 fee award.

  • February 28, 2024

    SPAC Investor Says Energy Co. Merger Was Overhyped

    An investor of blank-check company Star Peak Energy Transition Corp. has sued several of its current and former directors and controllers, alleging the defendants protected their buy-ins while leaving public investors to suffer losses after the company merged with an energy storage company.

  • February 28, 2024

    Crown Castle Founder Alleges Entrenchment Bid In Del. Suit

    The co-founder of cell tower operator Crown Castle Inc. sued the Texas company Wednesday in Delaware's Court of Chancery, seeking to invalidate a cooperation agreement between its board and activist investor Elliott Investment Management LP.

  • February 28, 2024

    US Trustee Taps Ex-Prosecutor To Be FTX Examiner

    The U.S. Trustee's Office has urged a Delaware bankruptcy judge to allow Robert Cleary, a former U.S. attorney who is now with Patterson Belknap Webb & Tyler LLP, to investigate FTX's finances as an examiner in the defunct cryptocurrency company's Chapter 11 case.

  • February 28, 2024

    3rd Circ. Won't Rehear Pfizer Shareholder Suit Coverage Row

    Pfizer won't get a second shot at arguing its insurer should indemnify it in a settlement stemming from a 2003 shareholder class action, with the Third Circuit on Wednesday declining the pharmaceutical company's request for an en banc rehearing.

  • February 27, 2024

    Bankman-Fried Urges No More Than 6.5 Years For FTX Fraud

    FTX founder Sam Bankman-Fried asked a Manhattan federal judge late Tuesday for a sentence that releases him "promptly" after his conviction for stealing billions from customers of the now-collapsed crypto exchange, arguing that federal sentencing guidelines recommend no more than six-and-a-half years in prison.

  • February 27, 2024

    IP Strategy Co. Seeks Sanctions For Suit Over Patent Deal

    Intellectual property strategy and transactions company Transpacific IP has asked the Delaware Chancery Court to sanction Slingshot Technologies LLC more than $400,000 for making "fabricated allegations" in a failed lawsuit over Transpacific's sale of Orange SA network patents.

  • February 27, 2024

    Del. Jury Urged To Award $142M Roundup Punitive Damages

    Attorneys for the family of a South Carolina man whose cancer death was allegedly linked to long working use of Monsanto Corp.'s Roundup herbicide asked a Delaware Superior Court jury Tuesday for $142 million in punitive damages for the company's purported disregard of the product's toxic risk.

Expert Analysis

  • New NJ Law Creates Flexibility For Corporate Conversion

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    Come November, the new conversion provisions in New Jersey's recently enacted S.B. 142 will provide corporations and LLCs with additional flexibility in structuring certain types of common business and investment transactions, representing an important step for the incorporation of businesses in the state, say attorneys at McCarter & English.

  • 3 Abortion Enforcement Takeaways 1 Year After Dobbs

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    A year after the U.S. Supreme Court overturned the constitutional right to abortion in Dobbs v. Jackson Women’s Health Organization, confusion continues to abound amid the quagmire of state-level enforcement risks, federal efforts to protect reproductive health care, and fights over geolocation data, say Elena Quattrone and Sarah Hall at Epstein Becker.

  • Rethinking In-Office Attendance For Associate Retention

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    The hybrid office attendance model doesn't work for all employees, but it does for many — and balancing these two groups is important for associate retention and maintaining a BigLaw firm culture that supports all attorneys, says Summer Eberhard at Major Lindsey.

  • Bittrex Bankruptcy Order Highlights Creative Crypto Financing

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    In a recent first, the Delaware bankruptcy court authorized Bittrex to obtain post-petition financing solely in bitcoin from the debtor-in-possession lender, an order that may serve as a catalyst for future debtors to explore creative mechanisms for crypto financing and payback, says Kyle Arendsen at Squire Patton.

  • What Innovators Can Expect In The Patent World After Amgen

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    After the U.S. Supreme Court's recent Amgen v. Sanofi decision, which invalidated Amgen's patents because the specifications failed to enable the full scope of the invention, innovators should expect more enablement rejections and invalidity challenges, and higher standards overall for obtaining broad genus claims, says Kisuk Lee from Harness IP.

  • Greenwashing Suits May Implicate D&O Policies

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    As consumers, regulators, and state and local governments seek to use litigation to hold companies responsible for alleged greenwashing, businesses facing such claims have a number of approaches available for seeking insurance coverage under directors and officers policies, say attorneys at Haynes Boone.

  • Opinion

    ALI, Bar Groups Need More Defense Engagement For Balance

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    The American Law Institute and state bar committees have a special role in the development of the law — but if they do not do a better job of including attorneys from the defense bar, they will come to be viewed as special interest advocacy groups, says Mark Behrens at Shook Hardy.

  • Murdaugh Trials Offer Law Firms Fraud Prevention Reminders

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    As the fraud case against Alex Murdaugh continues to play out, the evidence and narrative presented at his murder trial earlier this year may provide lessons for law firms on implementing robust internal controls that can detect and prevent similar kinds of fraud, say Travis Casner and Helga Zauner at Weaver and Tidwell.

  • Challenging Standing In Antitrust Class Actions: Rule 23

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    A recent Sixth Circuit decision in Fox v. Saginaw County that rejected the common attempt to use Rule 23 to sidestep Article III's standing limitations shows antitrust defendants' success in challenging standing will rest on happenstance without more clarity from the Supreme Court — which no litigant should be comfortable with, say Michael Hamburger and Holly Tao at White & Case.

  • Post-Siegel Trustee Fee Rulings Further Debtor-Friendly Trend

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    One year after the U.S. Supreme Court’s bankruptcy ruling in Siegel v. Fitzgerald left the matter of trustee fee refunds open to lower courts, related rulings have sided with debtors, reminding practitioners of the importance of the constitutional backdrop to statutory law, say Daniel Lowenthal and Jonah Wacholder at Patterson Belknap.

  • Firm Tips For Helping New Lawyers Succeed Post-Pandemic

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    Ten steps can help firms significantly enhance the experience of attorneys who started their careers in the coronavirus pandemic era, including facilitating opportunities for cross-firm connection, which can ultimately help build momentum for business development, says Lana Manganiello at Equinox Strategy Partners.

  • Prepping Your Business Ahead Of Affirmative Action Ruling

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    The U.S. Supreme Court's upcoming ruling on whether race should play a role in college admissions could potentially end affirmative action, and companies will need a considered approach to these circumstances that protects their brand power and future profits, and be prepared to answer tough questions, say Nadine Blackburn at United Minds and Eric Blankenbaker at Weber Shandwick.

  • Key Takeaways From Del. Chancery's Oracle Toss

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    The Delaware Chancery Court's recent finding that Oracle founder Larry Ellison didn't try to influence the company to overpay for its NetSuite acquisition offers important lessons on the determination of issues of control, including the importance of establishing an independent special committee, say attorneys at Fried Frank.

  • Tackling Judge-Shopping Concerns While Honoring Localism

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    As the debate continues over judge-shopping and case assignments in federal court, policymakers should look to a hybrid model that preserves the benefits of localism for those cases that warrant it, while preventing the appearance of judge-shopping for cases of a more national or widespread character, says Joshua Sohn at the U.S. Department of Justice.

  • Data Storage IP Case Aids In Untangling Similar Claim Terms

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    The Federal Circuit's recent reversal of a decision to invalidate a digital storage patent demonstrates the importance of closely analyzing the intrinsic record to fill definitional gaps during claim construction, say Kyle Ryman and Joel Thollander at McKool Smith.

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