Conservative groups voiced opposition on Tuesday to a plan in Congress to address remote sales tax collection by using a must-pass spending bill, saying it would burden small businesses with collecting taxes for nearly 10,000 jurisdictions across the country.
Globalization specialist Lionbridge Technologies Inc. on Tuesday dodged claims that it misled shareholders into signing off on last year’s nearly $360 million go-private deal with HIG Capital, after a Delaware federal court found the information provided to shareholders ahead of the deal was all above board.
Zohar Funds, the stressed-business investment vehicle, told a Delaware bankruptcy judge Tuesday that it intends to use the bankruptcy process to pause numerous litigations pending in multiple venues in order to monetize its investments in portfolio companies, but those plans were immediately threatened by the funds' collateral managers seeking to move its case against the funds' founder forward.
Two investors in the Woodbridge Ponzi scheme have hit Comerica Bank with a proposed class action in Florida federal court, saying the bank was either negligent or “knowingly provided substantial assistance” to the suspected $1.2 billion fraud that was run almost entirely from Comerica accounts.
Philadelphia Energy Solutions LLC, the Northeast’s largest remaining refinery complex, scored a big win in its Delaware bankruptcy proceedings Monday with a settlement that allows the company to avoid paying tens of millions it owes under a U.S. Environmental Protection Agency renewable fuels program.
Razor retailers Dollar Shave Club Inc. and Pace Shave Inc. on Tuesday told the Third Circuit that Gillette Inc.’s patent row over razor blade technology must be arbitrated because the arbitration clause in their original patent agreement was still enforceable despite a new version that didn’t contain one.
Citigroup Inc. shareholders can’t revive a previously dismissed derivative suit by pointing to a $70 million civil penalty recently imposed by the government, Delaware’s Chancery Court ruled on Monday, finding that the new consent order still doesn’t excuse the investors from failing to bring their demands to the board before filing suit.
With battles over her distressed investment empire's control and debts raging in multiple courts, Lynn Tilton steered her Zohar funds into filing for bankruptcy on Sunday to remove a "cloud of litigation" and unlock value in the companies that comprise the funds' underlying portfolio.
Four former Wilmington Trust Corp. executives "lied repeatedly" about the bank's commercial loan portfolio to regulators, investors and the public in 2009 and 2010, a federal prosecutor said Monday at the opening of the officials' fraud and securities trial in Delaware.
AOL asked a Delaware Chancery judge Friday to further trim a court-set $48.70 per share price for investors who challenged its $4.4 billion, $50-per-share merger with Verizon Inc., arguing that the investors’ share price theories make “no economic sense” and overvalue AOL’s deal with Microsoft that was likely a “money-loser.”
A $15 billion fleet of student loan trusts asked Delaware’s Chancery Court on Friday to bar new lawsuits against its 800,000 borrowers and award damages for costs incurred after key trust administrators and servicers allegedly hijacked and mismanaged the business.
Bankrupt department store chain Bon-Ton Stores Inc. received final bankruptcy court approval Monday in Delaware for its $725 million debtor-in-possession financing package and its plans to receive bids for its assets as a going concern.
Bankrupt insurance services provider Patriot National Inc. received court approval Monday in Delaware for a Chapter 11 disclosure statement detailing its proposed plan for a debt-for-equity swap with its secured lenders.
President Donald Trump on Monday issued an executive order effectively blocking Broadcom Ltd.’s $117 billion takeover bid for California-based Qualcomm Inc., citing national security grounds.
Obesity treatment maker Orexigen Therapeutics Inc. on Monday filed for Chapter 11 protection in Delaware, saying it is looking at a pending cash crunch and a likely near-term call to repay $165 million in debt.
It’s more of a norm than a rule. Its use has shifted over time, often with political winds. But the once-obscure Senate tradition is now front and center in the boiling debate over the future of the judiciary.
More federal judges are skipping the golf course to head back to the courtroom upon taking senior status, and they're playing an increasingly vital role in a strained system.
Although President Donald Trump set a record with the number of circuit judges he named during his first year, experts say that's not the whole story. Here’s our data-driven look at what the White House faces in its quest to reshape the appeals courts.
The Delaware Chancery Court on Friday tossed a stockholder suit challenging the fairness of Rouse Properties Inc.’s $2.8 billion sale last year to Brookfield Asset Management Inc., finding the plaintiffs failed to show that Brookfield, which already owned 33.5 percent of Rouse’s stock, controlled the deal.
A group of former employees of trucking firm Jevic Holding on Thursday asked the Delaware Bankruptcy Court to reject a proposed Chapter 11 settlement and instead send the company into Chapter 7 liquidation, saying an independent trustee is their best chance for collecting on their claims.
In an age of data-driven decision-making, too many companies are making important choices about dispute resolution based on anecdotes and isolated experiences. I’d like to explain why a number of objections to arbitration are ill-founded, says Foley Hoag LLP partner John Shope.
Multiple courts have held that discoverable material from negotiations with a litigation funder, when executed properly, can be attorney work product and immune from disclosure in the later litigation. The recent Acceleration Bay decision is indicative of what happens when difficult facts conflict with best practices, says Eric Robinson of Stevens & Lee PC.
Although companies often do not disclose internal or government investigations generally, and there are no cases obligating disclosure of sexual harassment investigations specifically, companies are not impervious to litigation for failing to disclose such information, or for breach of fiduciary duty in connection with tolerating sexual harassment, say attorneys with Goodwin Procter LLP.
Legal leaders who want to meet their clients' expanding expectations should start moving their documents to future-ready document management solutions now if they want to stay competitive in the next few years, says Dan Puterbaugh of Adobe Systems Inc.
The Delaware Chancery Court's decision in Miller v. HCP clarifies that minority investors in limited liability companies typically have very limited rights. Governing agreements often provide that LLC managers have no fiduciary duties, and the implied covenant of good faith is a weak tool for plaintiffs, say attorneys with Fried Frank Harris Shriver & Jacobson LLP.
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 PC.
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.