Shari Redstone and National Amusements Inc. will be barred from taking any action as the controlling shareholder of CBS Corp. to further alter its by-laws or to remove members of its board after a Delaware state court judge said Wednesday he would enact a temporary restraining order sought by the mass media company and its independent directors to allow them to go forward with an attempt to dilute her voting power.
Unable to negotiate and fully restructure its way out of a default and $350 million debt burden, oil and gas company Enduro Resource Partners LLC opened a sale-focused Chapter 11 in Delaware late Tuesday, with bids tentatively due in seven weeks.
A former adjunct law professor asked the Third Circuit on Tuesday to reconsider its decision leaving in place a settlement he reached with Rider University after being accused of plagiarism, which he says was the result of the university suppressing evidence that he had been given permission to use another professor’s syllabus.
The liquidating trust cleaning up Washington Mutual's estate after its financial crisis-era collapse will pay nearly $522,000 in fees to tax adviser Grant Thornton LLP as sanctions after a Delaware bankruptcy judge found Tuesday that WaMu wrongly withheld a $5 million contingency award.
A squadron of Democratic attorneys general can swoop into a new, Republican-backed legal challenge to the Affordable Care Act’s constitutionality and fight the case, a Texas federal judge ruled Wednesday.
An appellate court judge agreed Tuesday to grant a New Jersey man’s litigation funder $30,000 to cover its appellate legal bills after the Third Circuit had affirmed as valid his deal with the company that backed a malpractice case he brought against Reed Smith LLP.
Bankrupt shoe distributor The Rockport Co. LLC received court approval Tuesday in Delaware to tap into a complex, dual-facility debtor-in-possession package that will see some of its prepetition secured debt rolled up over the next few weeks.
Bankrupt security camera maker Arecont Vision Holdings LLC on Tuesday in Delaware Bankruptcy Court secured approval for a $4 million Chapter 11 loan, in advance of a planned asset sale, although schedules for the fast-paced process remain in flux.
The Third Circuit ruled Tuesday that the time limit to challenge debt collection practices isn’t tolled just because a debtor doesn’t discover alleged wrongdoing until after the fact, issuing a precedential decision departing from other federal appeals courts’ findings that the so-called discovery rule applies in such cases.
A Delaware vice chancellor approved a $3.25 million settlement fee Tuesday for class attorneys who sued biopharma Sorrento Therapeutics Inc. in 2016 over insider stock and option awards and conflicted asset transfers, producing a reported $100 million benefit for investors and the company.
Citgo on Monday urged the Third Circuit to reconsider its ruling saddling three subsidiaries with the lion's share of liability for a $100 million-plus oil spill judgment, arguing that the decision only compounds the original, faulty allocation of liability for the spill.
Attorneys for workers whose bankruptcy appeal led to a U.S. Supreme Court ruling last year that narrowed the use of Chapter 11 structured settlement dismissals told a Delaware judge Monday the high court ruling nullified a deal that company lenders now want to reassert.
Bankrupt specialty paper maker Appvion Inc. received court approval Monday in Delaware for a $340 million sale of its assets to a post-petition lender that was made possible through a global settlement among the debtor, the buyer and various creditor groups and interested parties.
The Federal Circuit found on Friday that IBM did not infringe two patents involving web page development, affirming a lower court’s ruling in favor of the tech giant.
Comfort footwear maker The Rockport Company LLC filed for Chapter 11 protections Monday in Delaware, listing $287 million of funded debt obligations and planning a sale of its global wholesale and e-commerce assets that will likely leave its retail operations on the chopping block.
Southeastern Grocers LLC secured court approval on Monday in Delaware for its more than $1.3 billion Chapter 11 reorganization plan, which among other features will swap $522 million in unsecured note debt for equity and put the Florida-headquartered business under new control.
CBS Corp. and five directors asked the Delaware Chancery Court on Monday to keep Shari Redstone from interfering in a board meeting this week where they hope to deflate her voting power, saying she’s jeopardized the company by trying to force its merger with Viacom Inc., a deal the directors recommended rejecting over the weekend.
The U.S. Supreme Court on Monday agreed to hear an appeal of a precedential Third Circuit decision holding that companies can be held liable under maritime law for asbestos-related injuries if a manufacturer could have reasonably foreseen asbestos would be later added to its product.
Three executives of Roxul USA Inc. were ordered to produce documents relating to the acoustic ceiling tile company's decision to enter the U.S. market in its antitrust suit against building supply company Armstrong World Industries Inc., according to a filing in Delaware federal court on Monday.
California surveillance-camera maker Arecont Vision Holdings LLC filed for Chapter 11 protection in Delaware on Monday, saying it is in the process of finalizing an asset purchase agreement.
In the #MeToo era, the American Bar Association’s recently passed Resolution 302 is a reminder of harassment policy best practices to all employers, and it should be of particular interest to employers in the legal industry, say attorneys with Hunton Andrews Kurth LLP.
By incorporating an explicit requirement that discovery must be “proportional to the needs of the case,” the 2015 amendments to the Federal Rules of Civil Procedure garnered much speculation as to their impact on courts’ decision-making processes. Now that the rules have been implemented for over two years, several themes have emerged, say attorneys with Buckley Sandler LLP.
The advancement in connected technologies and software has created an explosion of nontraditional data sources that present challenges to e-discovery practitioners. Many tools and techniques used to process traditional data may not be practical for these new data types, say Jason Paroff and Sagi Sam of Epiq.
What do you do when it seems that Washington is out to get you? If you are a lawmaker or governor in New York, California, New Jersey or any of several other blue states that relies on significant income or property taxes to pay your state’s bills, you get creative, says Gary Botwinick of Einhorn Harris Ascher Barbarito & Frost PC.
Out of 94 district courts nationwide, the Eastern District of Virginia has the fastest civil trial docket in the country, now for at least the 10th straight year. The modern EDVA bench clearly takes pride in efficiently dispensing justice, and this dedication to efficiency has continued even in the face of increased filings, says Bob Tata of Hunton Andrews Kurth LLP.
With Mick Mulvaney gutting the Consumer Financial Protection Bureau, the burden of standing up to giant, deep-pocketed financial institutions falls more heavily on state attorneys general. But in the end, such efforts can’t replace the power the CFPB has to protect consumers across all states equally, says District of Columbia Attorney General Karl Racine.
The centuries-old, common-law principles by which sovereign entities take unclaimed or abandoned property are coming under renewed scrutiny in the U.S., as states pursue different policies that threaten to trigger legal disputes. Companies whose businesses give rise to these types of property — including issuers of prepaid, gift and stored-value cards — may find themselves caught up in these disputes, say Valerie Hletko and Mark Rooney of Buckley Sandler LLP.
The Delaware Superior Court's decision in Arch Insurance Co. v. David Murdock underscores the importance of the choice of law analysis in insurance coverage disputes and reaffirms a distinction previously recognized, but not always applied, between D&O and general liability policies, say Jennifer Wasson and Carla Jones of Potter Anderson & Corroon LLP.
In a recent op-ed, former U.S. Supreme Court Justice John Paul Stevens called for repealing the Second Amendment to help combat our nation's gun epidemic. Actually, it is the high court's ruling in District of Columbia v. Heller that is the problem. And it is only one court case away from being renounced as the historic blunder it is, says Robert W. Ludwig, counsel for the American Enlightenment Project.
Despite recent setbacks in state legislatures, this year's carbon tax push has been the most successful in American history, demonstrating that the idea has carved a place in our political landscape, says Ryan Maness, tax counsel at government relations services firm MultiState Associates Inc.