Luxury handbag and accessory maker Kate Spade & Co. told a Delaware Chancery Court judge Wednesday that a shareholder's demand for production of the company’s records could not be granted because the investor wasn't directly involved in the prosecution of the suit beyond his instinctual suspicion that a $2.4 billion merger with Coach Inc. wasn't fair.
Navient Corp. was hit with a class action complaint in New York federal court Wednesday from nine public service workers who say the student loan servicing giant has lined its own pockets by misleading them and millions of other borrowers about accessing a federal loan forgiveness program.
Owners of property taken by the government should have the right to take their claims of constitutional violations straight to a federal court, despite a 33-year precedent that forces them to first seek compensation in state courts, the attorney for a Pennsylvania woman told the U.S. Supreme Court Wednesday.
The Third Circuit said Wednesday the entire court will hold a rehearing to reconsider its previous decision finding Transportation Security Administration airport screeners to be immune to civil suits over alleged traveler abuse.
A Delaware bankruptcy judge on Wednesday authorized plastics maker M&G USA Corp.'s use of $2 million in debtor-in-possession funds to cover operations and administrative costs in its Chapter 11 as a temporary solution since financing has run out.
An Amazon Inc. user who was blinded in one eye by an allegedly defective dog collar she purchased through the internet retail giant urged the Third Circuit to revive her product liability case, telling a three-judge panel on Wednesday that while the company didn't manufacture the product, it was still liable because it directly controlled the sale.
A Third Circuit panel has reversed in part a ruling that barred residents from demanding the government cover the costs of monitoring their health after they discovered local Navy facilities contaminated their drinking water, finding the requests are not considered challenges to cleanup efforts.
A Delaware Chancery Court judge determined Monday that shareholders in trade security firm Authentix Inc. had waived their rights to an appraisal of their holdings in the company through a stockholders' agreement signed by the investors.
Bankrupt film distribution company Open Road Films LLC got permission from a Delaware judge Tuesday to wait another week before submitting auction bidding procedures so it could continue to accept offers from potential stalking horse bidders.
A limited liability company filed a lawsuit in Delaware Chancery Court challenging the $270 million sale of a company that owned a wind farm in Colorado, claiming it was denied its right to vote on the transaction after refusing to sell its minority interest in the venture.
Investors in Essendant asked a Delaware federal court Tuesday to halt its $996 million merger with Staples, arguing there is key information missing from disclosures connected to the deal.
Ligand Pharmaceuticals Inc. urged Delaware’s Chancery Court late Monday to throw out an “opportunistic” investor suit it said aimed to exploit a “scrivener’s error” that set up a bogus, multibillion-dollar stock conversion right for notes with a fraction of that value.
A Delaware bankruptcy judge gave his nod on Tuesday to musical instruments maker Gibson Brands Inc.’s Chapter 11 plan after a settlement was reached with creditors last month to provide improved recoveries for some and last-minute details were hashed out.
A putative class challenge to the $110 million sale of U.S. Geothermal Inc. survived dismissal arguments Tuesday, with a Delaware vice chancellor describing the case as “very different” from merger litigation routinely dismissed under the court’s mainstay deal review standards.
The U.S. Chamber of Commerce and the National Federation of Independent Business told the Third Circuit on Monday that Uber drivers are nothing like the employees Congress sought to protect under the Fair Labor Standards Act, so the court should reject a group of Philadelphia drivers’ misclassification claims.
A proposed class of University of Pennsylvania pension plan participants urged the Third Circuit to revive their Employee Retirement Income Security Act suit on Tuesday, arguing that they lost $26 million because of limited investment options with unnecessarily high fees.
The Third Circuit on Monday determined that an immigration judge erred by rejecting a Salvadoran native’s asylum bid, as the judge did not give the man adequate notice of what he needed to submit to sufficiently back up claims that appeared credible.
Insisting that he is an "anti-racist," ousted Papa John’s pizza chain Chairman John Schnatter took the stand in Delaware's Chancery Court on Monday to deny that his use of a racially charged word in May had been intended as a slur.
The U.S. Supreme Court on Monday denied a petition to review a derivative shareholder suit against the directors of Walmart Inc. that was originally tossed by Delaware’s Chancery Court because its claims were already dismissed in an earlier-filed suit in Arkansas.
After a four-day auction, bankrupt gadget retailer Brookstone secured a roughly $73 million bid to purchase its intellectual property, e-commerce domain and all but one of its airport stores in its Chapter 11 going-concern sale.
In this monthly series, Amanda Brady of Major Lindsey & Africa interviews management from top law firms about the increasingly competitive business environment. Here we feature Melanie Green, chief client development officer at Faegre Baker Daniels LLP.
In TIAA-CREF Insurance Appeals, the Delaware Supreme Court struck a blow to insurers seeking to avoid responsibility for settlement payments made by policyholders. Though decided under New York law, this opinion opens the door to a fact-specific analysis that may help policyholders facing similar denials, say Catherine Doyle and Jan Larson of Jenner & Block LLP.
In response to the Delaware Chancery Court’s invitation earlier this year seeking expert opinions on market efficiency, we propose several tests to empirically assess the reliability of market price in appraising fair value, say Dirk Hackbarth of Boston University and Bin Zhou of The Brattle Group.
Because current state laws relating to marijuana-impaired driving lack an objective impairment standard, only those who clearly demonstrate impaired driving are likely to be prosecuted and convicted, says Ian Stewart of Wilson Elser Moskowitz Edelman & Dicker LLP.
Delaware Vice Chancellor J. Travis Laster recently cautioned that while courts are now giving greater deference to deal prices and market evidence in determining fair value, this approach does not elevate "market value" to the governing standard under the appraisal statute. His caveat begs at least three finance questions, say Dirk Hackbarth of Boston University and Bin Zhou of The Brattle Group.
The Third Circuit recently ruled in Encompass v. Stone Mansions that a defendant can remove a case to federal court on the basis of diversity jurisdiction before the plaintiff formally serves the forum state defendant. This may be the first appellate decision on this issue, says Brittany Wakim of Schnader Harrison Segal & Lewis LLP.
A threshold question in post-closing purchase price adjustment disputes is whether the merger agreement’s dispute resolution process is an expert determination or an arbitration. The answer can have a meaningful impact, as seen in the Delaware Chancery Court's decision in Penton Business Media Holdings v. Informa, says Daniel Boland of Pepper Hamilton LLP.
A Delaware federal court's ruling in Amgen v. Hospira last month may indicate a significant narrowing of the patent infringement exception for activities related to obtaining drug approval from the U.S. Food and Drug Administration, say attorneys at Paul Hastings LLP.
In this new series featuring law school luminaries, Widener University Delaware Law School dean Rodney Smolla discusses teaching philosophies, his interest in First Amendment law, and arguing before the U.S. Supreme Court in Virginia v. Black.
The Delaware Supreme Court has eschewed bright-line tests for determining the value of a company in an appraisal. Two recent Delaware Chancery Court decisions illustrate the ways that the courts are determining appraisal valuation in light of this guidance, say Michael O'Bryan and James Beha of Morrison & Foerster LLP.