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Delaware

  • September 17, 2018

    Investcorp Drops $300M On Multistate Warehouse Portfolio

    Investcorp on Monday said it paid roughly $300 million for its largest-ever acquisition of a U.S. warehouse portfolio that includes properties in Texas, Pennsylvania, Delaware and Illinois, the ninth deal of its kind for the investment manager in the past three years.

  • September 14, 2018

    2 Court Vets Emerge As Potential New Chancery Judges

    Delaware litigation boutique partner Joel E. Friedlander and court master Morgan Zurn have emerged as likely candidates for two new seats on the Chancery Court bench, but the job's demands and pay might have discouraged other prospects, according to several sources with knowledge of the process.

  • September 14, 2018

    Oaktree Flags Claire's Modified Ch. 11 Plan

    Oaktree Capital Management LP on Friday objected to the modified Chapter 11 plan of fashion accessory retailer Claire's Inc., claiming last-minute changes significantly impact the amount of claims to be paid and contesting the debtors' call to bar certain evidence at a confirmation hearing set for Monday.

  • September 14, 2018

    Irish Bank Reps Say Ch. 15 Suit Has No American Nexus

    The foreign representatives of Chapter 15 debtor Irish Bank Resolution Corp. Ltd. objected Friday to a move by an Irish creditor to lift the automatic stay of litigation to allow the creditor to move forward with an adversary proceeding in Delaware, saying the loans at issue in the complaint are governed by Irish law.

  • September 14, 2018

    Justices Told FDA's 'Smoking Gun' Sinks Fosamax MDL

    Merck Sharp & Dohme Corp. has told the U.S. Supreme Court that “smoking gun” evidence from the U.S. Food and Drug Administration should sink a Third Circuit decision reviving multidistrict litigation over the company’s alleged failure to warn about a risk of femoral fractures from its osteoporosis drug Fosamax.

  • September 14, 2018

    Hedge Fund Power Struggle Spawns Del. Chancery Suit

    Directors and investors in hedge fund Weston Capital Advisors Inc. filed a petition in Delaware Chancery Court late Thursday seeking a declaration that they are the true and proper members of the company’s board in light of a series of allegedly fraudulent corporate filings made with state regulators.

  • September 14, 2018

    Actresses Get 'Road Map' To File New Weinstein Class Suit

    Counsel for the actresses accusing Harvey Weinstein of sexual assault in a putative class action say a New York federal judge gave them a “road map” to a stronger case when he dismissed their claims this week.

  • September 14, 2018

    Investor Seeks DBM Records To Probe Possible Misconduct

    An investor group asked the Delaware Chancery Court on Thursday for access to construction company DBM Global Inc.'s book and records to investigate possible wrongdoing involving a controlling stockholder, including claims the stockholder borrowed funds for its sole benefit.

  • September 13, 2018

    HIG, Bain Say Investor Chancery Claims Not Backed By Facts

    Attorneys representing Surgery Partners Inc. and private equity investors HIG Capital and Bain Capital Investors LLC told a Delaware Chancery Court judge Thursday that an investor suit provided no factual support for its claims that the parties acted unfairly in a complex $760 million acquisition of another surgery center, and it should be dismissed.

  • September 13, 2018

    Green Field Trustee Gets $17M From Ex-CEO In Ch. 11 Suit

    The liquidation trustee of reorganized debtor Green Field Energy Services Inc. will be able to recover nearly $17 million from the former CEO of the company after a Delaware bankruptcy judge decided Wednesday that he is liable for breaching a contract with the company and depriving it of needed financing.

  • September 13, 2018

    3rd Circ. Leaves EFH Off Hook For $275M Breakup Fee

    A divided Third Circuit panel on Thursday upheld a decision relieving the bankrupt Energy Future Holdings Inc. from paying a $275 million termination fee after a deal to sell its interest in a power distribution system to NextEra Inc. failed to win approval from Texas utility regulators.

  • September 13, 2018

    M&G Ch. 11 Exit For Some European Affiliates OK'd In Del.

    A Delaware bankruptcy judge approved a deal Thursday to release three European affiliates from plastics-maker M&G USA Corp.’s Chapter 11 case, conditioned in part on immunity agreements and affiliate efforts to prune as much as $600 million from creditor claims in Mexico.

  • September 13, 2018

    Heritage Home Secures Ch. 11 Approval For Asset Sale

    Bankrupt furniture retailer Heritage Home Group LLC received approval in Delaware on Thursday for a Chapter 11 sale of “nonluxury” product inventories in stores and distribution centers, days ahead of a bid deadline and auction for the company’s pricier lines.

  • September 13, 2018

    Mass. AG Says Ch. 7 Won't Save For-Profit School From Suit

    The Massachusetts Attorney General's Office told a Delaware bankruptcy judge on Thursday that federal protections in Education Management Corp.'s Chapter 7 should not prevent the state from proceeding with a lawsuit against one of its for-profit schools seeking damages on behalf of students.

  • September 13, 2018

    Crypto Investor Launches Suit Over ‘Bait-And-Switch’ Scheme

    An investor who plunked more than $5 million into a blockchain-based online sports wagering startup filed a shareholder lawsuit in Delaware’s Chancery Court against two company principals and an entity he claims was created to siphon off the original company’s assets and profits.

  • September 12, 2018

    Del. Justices Probe LLC Duty Waiver In $43M Sale Appeal

    Delaware's Supreme Court pressed opposing attorneys Wednesday on just how much protection investors surrendered to a controlling limited liability company member when they waived their company's fiduciary duty obligations and then saw it sold for $43 million in a process likened to a "hostage taking."

  • September 12, 2018

    Facebook Hit With Derivative Suit Over Stock Shuffle Plan

    A pension fund hit Facebook’s board and CEO Mark Zuckerberg with a derivative shareholders lawsuit in Delaware Chancery Court on Wednesday, accusing them of unjustly spending massive amounts of money on a now-abandoned stock reclassification plan driven by Zuckerberg’s personal philanthropic agenda.

  • September 12, 2018

    NY DA Fights Weinstein's Bid To Dodge Rape Charges

    The Manhattan District Attorney urged a state judge on Wednesday to reject Harvey Weinstein’s effort to see grand jury materials and dismiss the sexual assault and rape charges against him, saying its investigation was proper and that Weinstein has gotten all the information he is entitled to.

  • September 12, 2018

    Synutra Investors Ask Del. Justices To Remand $125M Suit

    A controlling investor’s early maneuvers in a $125 million buyout of baby formula maker Synutra Nutrition Inc. should have disqualified it for deferential “business judgment” protections in a dismissed court challenge, a stockholder attorney told Delaware’s Supreme Court on Wednesday.

  • September 12, 2018

    Law Schools Struggle To Find Themselves In Post-Recession Market

    Classes on blockchain and artificial intelligence. Crash courses in business and financial markets. These are a few ways law schools are preparing students for a job market that is struggling in the wake of the recession.

Expert Analysis

  • Series

    Judging A Book: Fogel Reviews 'Good Judgment'

    Judge Jeremy Fogel

    In this time of partisan conflict over judicial selection, a new book by Canadian jurist Robert J. Sharpe —​ "Good Judgment" — represents a refreshing, deeply thoughtful departure from binary arguments about how and why judges make decisions, says U.S. District Judge Jeremy Fogel, director of the Federal Judicial Center.

  • 10 Ways To Prevent E-Discovery Woes

    Debbie Reynolds

    E-discovery is not easy, but employing these 10 strategies may help minimize future headaches, say Debbie Reynolds and Daryl Gardner of EimerStahl Discovery Solutions LLC.

  • The Challenges Of Valuing Litigation-Driven Equities

    Alexander Berger

    Many eyes are on the Delaware Chancery Court to see whether it will compel Fresenius to close on a $4.5 billion acquisition of Akorn. The case, which completed post-trial briefing last week, presents an interesting question about the meaning of stock price as evidence in litigation, say Alexander Berger, an investment consultant, and J.B. Heaton, a lecturer at the University of Chicago Law School.

  • NJ Ruling On Same-Sex Couple Could Reignite Old Claims

    Thomas Regan

    A New Jersey appeals court’s recent decision reviving the emotional distress claims of a same-sex partner has set a precedent that could reignite previously dismissed suits involving unmarried couples in the state. Insurance companies with clients in New Jersey, and self-insureds with New Jersey exposure, may want to adjust their reserves accordingly, says Thomas Regan of LeClairRyan LLP.

  • LLC Derivative Claims In The Wake Of Wenske

    Adrienne B. Koch

    Many limited liability companies are formed in Delaware because of the state’s well-developed and business-friendly law in this area. But a recent decision in Wenske v. Blue Bell Creameries highlights the level of care with which an LLC's governing agreement must be drafted in order to maximize these ostensible advantages, says Adrienne B. Koch of Katsky Korins LLP.

  • 4 Key Components To New Firm Partnership Agreements

    Russell Shinsky

    A well-drafted partnership agreement protects a law firm's founders, establishes a process for new and outgoing partners, and sets forth guidelines for navigating conflict along the way. Startup firms can begin with something less complex, but there are important elements that every agreement should include, says Russell Shinsky of Anchin Block & Anchin LLP.

  • Delaware Decision Clarifies MFW's Ab Initio Requirement

    Gail Weinstein

    The Delaware Chancery Court's ruling last month in Olenik v. Lodzinski is notable for providing a substantial discussion of the difference between “negotiations” and “preliminary discussions” for determining whether a merger meets MFW's “ab initio requirement” and qualifies for review under the deferential business judgment rule standard, say attorneys with Fried Frank Harris Shriver & Jacobson LLP.

  • Opinion

    Open The Federal Courthouses

    David Oscar Markus

    Forget about cameras, reporters in the Manafort trial were not even permitted in the courtroom with their phones, tablets or computers. That meant no live reporting on Twitter and no emails to the newsrooms with updates. In a world focused on information and news as it happens, this is unacceptable, says trial attorney David Oscar Markus.

  • 5 E-Discovery Hurdles For Government Agencies

    Amy Hilbert

    Electronic discovery is a challenging process for even the most experienced law firms and corporations, but the challenges faced by government agencies may be even more daunting, says Amy Hilbert of Casepoint LLC.

  • Del. Series LLC Changes Bring Clarity For Secured Lenders

    R. Jason Russell

    Delaware recently passed amendments to the Delaware Limited Liability Company Act that enable a new type of series of an LLC known as a “registered series.” The changes address historical uncertainty among secured lenders seeking to perfect a security interest, say R. Jason Russell and Sean Sullivan of Morris Nichols Arsht & Tunnell LLP.