Tobacco company ITG Brands LLC lost out on Thursday in a dispute over whether or not it’s obligated to keep trying to reach a deal with Florida over costs tied to its $7 billion dollar purchase of four cigarette brands from R.J. Reynolds Tobacco, after Delaware’s Chancery Court ruled the burden is solely ITG’s to bear.
A Boston federal judge on Thursday relocated Harvard College's suit against Micron Technology over computer technology patents after a Federal Circuit ruling tossed his earlier decision and resolved a jurisdictional debate nagging judges nationwide.
A Delaware vice chancellor on Thursday ordered a Galena Biopharma Inc. stockholder class to honor its $1.3 million agreement ending a dispute over vote counting for a company share increase and director elections, saying that the settlement terms were clear.
A 32-day sale timeline proposed by bankrupt retail distributor Maurice Sporting Goods Inc. drew an objection from the U.S. trustee Thursday, who said the plan does not provide enough time for the assets to be marketed or for bidders to perform due diligence before the Dec. 13 bid deadline.
The Third Circuit on Thursday upheld two prior rulings freeing Skadden Arps Slate Meagher & Flom LLP from a lawsuit over an alleged conspiracy between the firm and the eventual buyer of bankrupt Radnor Holdings Corp., finding that the statute of limitations on the claims has run.
A bid by shareholders of bankrupt oil and gas exploration firm Paragon Offshore PLC to form an official equity committee sank for the second time Thursday when a Delaware federal judge said they were so far out of the money in the case that it was inappropriate to appoint such a committee.
Bankrupt Utah natural gas storage venture Ryckman Creek Resources disclosed an on-the-fly switch to a new Chapter 11 buyer Thursday, saying in a revised Delaware court disclosure and plan that the private equity-backed deal would provide more upfront cash and heftier project investments.
A group of shareholders in lithium-ion battery component maker China Sun Group High-Tech Co. filed suit late Tuesday in Delaware Chancery Court, demanding the company provide access to corporate books and records after not issuing any financial reports since 2011.
Several major creditor groups in the Takata Chapter 11 took issue Wednesday with the debtor’s bid to spend $12 million on its Mexican affiliates to prepare the proposed $1.6 billion sale at the center of the case they already see as problematic, arguing it has thin evidentiary support.
The Office of the U.S. Trustee objected Wednesday to every nearly every facet of bankrupt diamond cutter Exelco North America's plan for a Chapter 11 stalking horse sale in Delaware, citing inadequate disclosures and scant details on the current bidder.
The official committee of unsecured creditors in the Chapter 11 case of vehicle upholstery maker GST Autoleather Inc. received approval Wednesday in Delaware bankruptcy court to retain an investment banking firm, over the objections of the debtor’s largest secured creditor.
Delaware's Chancery Court late Tuesday agreed to hear arguments on reopening and supplementing the post-trial record in an intellectual property and contract dispute that knocked Ring.com's new home automation systems off of store shelves at the start of holiday sales season.
La Paloma Generating Co. LLC’s buyer and senior creditor LNV Corp. late Tuesday opposed California regulators’ efforts to halt pending appeal the Delaware bankruptcy court’s decision taking the purchaser off the hook for roughly $60 million in environmental liability, arguing that the move ignores the mechanics of bankruptcy appeals.
The Federal Energy Regulatory Commission told the D.C. Circuit on Monday that an environmental group’s complaint of a structural bias favoring pipeline approval for natural gas companies that fund FERC still fails to overcome the fact that Congress sets FERC’s budget regardless of approvals.
Delaware’s chancellor denied summary dismissal Tuesday of a suit filed by educational media company investors who accused a key officer of failing to exercise warrants for a software company’s shares, calling the bid for an early case shutdown “pretty audacious.”
Oil shale venture Red Leaf Resources lost a Delaware Chancery Court bid Tuesday for dismissal of a hedge fund investor’s challenge to a deal that broke off a more-than $200 million joint venture with French energy giant Total SA
An investor in Altor BioScience LLC filed an appraisal petition Tuesday in Delaware Chancery Court seeking a court valuation of its shares in the biopharmaceutical company after a $290 million merger with NantCell Inc. in July.
A firearms instructor who shot a Pennsylvania state trooper to death during a training exercise isn’t immune from a civil rights suit brought by the trooper’s mother, as the instructor disregarded safety protocols and was indifferent to the fact that he was creating an obvious risk, the Third Circuit said Tuesday.
Bankrupt mobile broadband provider Limitless Mobile LLC received court approval of its third amended Chapter 11 plan Tuesday in Delaware, just hours after receiving last-minute government approval for a critical settlement agreement that paved the way to a consensual hearing.
Bankrupt diamond cutter Exelco North America on Tuesday asked the Delaware bankruptcy court to scrap a scheduled short-fuse sale hearing, saying it had found a $6 million stalking horse bidder.
After the Third Circuit's recent decision in the Asbestos Products Liability Litigation case, manufacturers within the court's jurisdiction should not expect claims against them to be dismissed under a “bare metal" defense, unless they can show that they could not have known that asbestos would later be added to their products, says Cory Lapin of Manion Gaynor & Manning LLP.
While few depositions feature such entertaining colloquies by counsel as are found in Corsini v. U-Haul, obstructive conduct at depositions continues to run rampant in many circles. And courts are increasingly open to taking a greater role in policing improper conduct, say Mark Shifton and Mila Shtelmakher of Seiger Gfeller Laurie LLP.
In the past year, more than 50 publicly traded companies have amended their bylaws to address the potential for a so-called “placeholder slate” of directors nominated by activist shareholders. However, neither the bylaw amendments nor the placeholder-slate tactic has been tested in court, leaving their ultimate fate undetermined, say attorneys with Skadden Arps Slate Meagher & Flom LLP.
Last week, the Third Circuit delivered a win for employees with its decision in Secretary U.S. Department of Labor v. American Future Systems, which said the company's rest break policy violated the Fair Labor Standards Act. And, in a fun Friday-the-13th twist, the court managed to cite the "Harry Potter" books while authoring its opinion, says Ashley Falls of Falls Legal.
Today's law firm chief financial officer should be involved in many areas beyond traditional financial management, including operations, risk management and information technology. He or she can support strategic planning throughout the process, from development of the plan to its implementation, measurement and eventual evolution, say Tyler Quinn and Marc Feigelson of Kaufman Rossin PA.
Even though the U.S. Equal Pay Act is over 50 years old, the U.S. census released in September still finds that women make 80.5 cents to the dollar that men make. Cynthia Jackson and Sarah Beeby of Dentons review recent legislation addressing pay inequity in the U.S. and globally, and discuss recommendations for employers confronting these developments.
The Delaware bankruptcy court’s recent decision in Energy Future Holdings, granting a motion to reconsider a decision it made over a year ago and denying a breakup fee it had previously approved, is at once troubling and instructive, say Steven Wilamowsky and Sara Ghadiri of Chapman and Cutler LLP.
In U.S. v. Dish Network, currently on appeal to the Tenth Circuit, the district court awarded statutory damages of $280 million in favor of the U.S. and the four plaintiff states. Buried among the thousands of pages of interlocutory orders issued by the district court is a warning that should be heeded by all parties that are the subjects of governmental investigations, say attorneys with Troutman Sanders LLP.
When a witness says one thing in a deposition, but later offers an affidavit directly contradicting the prior testimony, with no credible explanation, the U.S. Supreme Court has held that the affidavit should be disregarded. James Beck of Reed Smith LLP offers a survey of significant medical product liability cases in which both plaintiffs' experts and plaintiffs themselves have contradicted their own prior statements.
In the 20 years since the U.S. Supreme Court endorsed the sham affidavit doctrine — precluding creation of “genuine” factual issues by witnesses contradicting their own previous testimony — it has been important in many medical product liability cases, and practitioners should be aware of significant examples, says James Beck of Reed Smith LLP.