A pair of purported whistleblowers who say they could be entitled to up to $250 million of the nearly $1 billion restitution fund in Takata’s criminal case over faulty air bag inflators objected Tuesday to the company’s Chapter 11 plan on grounds it doesn’t take into account any pending whistleblower award.
Bankrupt department store chain Bon-Ton Stores Inc. secured interim approvals Tuesday for a $725 million debtor-in-possession loan and a 42-store closing plan after overcoming arguments that its more than $1 billion restructuring effort should be dropped in favor of liquidation.
Delaware’s chancellor on Monday ordered deadlocked California medical claims company Avande Inc. to hold a stockholder meeting on Feb. 15, amid allegations of intellectual property breaches, board dysfunction and claims that a holdout director was blocking an election.
A Delaware federal magistrate judge Monday told Cornell University that the federal courts can’t restart a settled patent case over allegations it was defrauded by its own co-plaintiff.
A Stone Energy Corp. shareholder hit the oil and gas company with a suit in Delaware federal court Friday, claiming the shareholders were lied to and shortchanged in the company’s $2.5 billion merger with Talos Energy LLC.
Citing $245,000 in cash transfers to three Boston Herald insiders “on the eve of bankruptcy,” the Office of the U.S. Trustee asked a Delaware judge Friday to reject the company’s Chapter 11 sale or keep the transfers open to challenge.
Lugging about $1 billion in debt, Bon-Ton Stores Inc. moved its 256-site department store chain into Chapter 11 in Delaware late Sunday, with an all-asset bankruptcy sale and $725 million debtor-in-possession loan in the works.
The Third Circuit revived claims by Kraft Foods Inc. and others that certain suppliers conspired to fix the prices of eggs, finding in an issue of first impression that direct purchasers of an allegedly fixed-price product can sue even if some of the products come from nonconspirators.
The Third Circuit has shot down a constitutional challenge from two New Jersey horse racing operators objecting to “forfeiture amendments” that put a deadline and other pressures on operators that had been granted incentives to open off-track betting facilities, finding it was within the state's discretion to nudge them to get off the ground more quickly.
A Delaware Chancery judge on Friday threw out a shareholder lawsuit challenging Beams Power Investment Ltd.’s $125 million buyout of baby formula maker Synutra International Inc., ruling that the suing stockholders did not make a strong enough case to indicate the deal violated laws related to controlling-party takeovers.
M&G USA Corp.'s unsecured creditors moved late Thursday for Delaware bankruptcy court reclassification of $463 million of secured claims held by M&G competitor DAK Americas into unsecured claims subordinate to others.
The $9.5 billion deal at the center of Energy Future Holdings Corp.’s proposed Chapter 11 exit is expected to face Texas utility regulators unopposed later this month after the lone holdout agreed to support Sempra Energy’s plan to buy EFH’s nondebtor electricity transmission unit, the companies said Friday.
An investor who sued billionaire physician Patrick Soon-Shiong, for tapping $47 million from biotech Precision Biologics Inc. after he acquired control, rejected assurances Thursday of the value's return to the company and again asked Delaware's Chancery Court to place Precision under custodianship.
The liquidating trust created by the Chapter 11 plan of Washington Mutual Inc. must pay $5 million in contingent fees to its tax counsel after a Delaware bankruptcy judge granted a sanctions request from the counsel Friday.
A Panamanian law firm on Thursday urged a Delaware federal judge to remand its suit accusing Trump Organization's international hotel arm and an affiliate of improperly responding to arbitration over a “mismanaged” hotel by dragging the firm itself into the fight, arguing that no arbitration agreement exists between the firm and Trump’s businesses.
The Third Circuit affirmed the dismissal of an Atlantic City, New Jersey, casino dealer’s claims that she was discriminated against for her medical condition despite being able to work, ruling Thursday that the allegation didn’t stand up since she was receiving Social Security benefits for being permanently disabled.
Former employees of bankrupt insurance services company Patriot National Inc. filed a putative class action in Delaware late Thursday alleging the firm laid off the majority of its 300 employees in November without providing proper notice under the Workers’ Adjustment and Retraining Notice Act.
The Delaware Chancery judge presiding over a fight about the board composition for the company that owns the Tony Roma's restaurant chain ruled Thursday that a stock issuance designed to dilute an investment fund’s holdings and prevent a takeover was void and can’t be used to calculate shareholder votes.
A Delaware bankruptcy judge gave M&G USA Corp. the green light Thursday to sell its West Virginia plastics plant to a unit of Taiwanese conglomerate Far Eastern New Century, which won a Chapter 11 auction with a $33.5 million bid that more than doubled the stalking horse bid.
After weeks of “chaos,” bankrupt vehicle upholstery maker GST AutoLeather, its creditors and lenders stitched together a tentative, multipart Chapter 11 sale and case compromise Thursday, positioning the company for a Feb. 12 sale approval hearing.
Erich Potter, discovery counsel with Oles Morrison Rinker & Baker LLP, discusses six ways e-discovery will continue to excite and confound in 2018.
The Delaware judicial framework for reviewing boards' M&A decisions has transformed in the past few years with cases such as Corwin, MFW and Trulia. This transformation has had dramatic effects, as reflected in and amplified by decisions issued in 2017, say attorneys with Fried Frank Harris Shriver & Jacobson LLP.
Over the past two years there has been a seismic shift in the view that sexual orientation and gender identity claims do not fall within Title VII of the Civil Rights Act. Darrell VanDeusen and Alexander Berg of Kollman & Saucier PA analyze how the developing law protects LGBTQ employees at the federal level and provide employer guidance on related issues in the workplace.
Smart law firms are increasingly positioning professionals to proactively guide them as the legal landscape reshapes itself, harnessing six emerging roles within their organizational charts to embrace new approaches, tools and systems, says Rob MacAdam of HighQ.
As the economic situation in Venezuela continues to deteriorate and the number of bond defaults continues to mount, the Third Circuit’s recent ruling against Crystallex is a poignant reminder about the challenges of recovering on claims against a determined sovereign. However, Crystallex is not without further litigation options, say Richard Cooper and Boaz Morag of Cleary Gottlieb Steen & Hamilton LLP.
Highly profitable companies have comprehensive corporate wellness programs that realize plateauing health care costs, greater employee engagement, and a demonstrable competitive advantage. The legal field needs a similar awakening, says Rudhir Krishtel, a former partner of Fish & Richardson and senior patent counsel at Apple.
While each new year is expected to bring fresh challenges to the legal industry, 2018 will be particularly disruptive to the status quo. Both law firms and organizations that cater to the legal community should prepare for developments like increasing pressure from international clients and data security risks caused by multigenerational gaps, says Jeff Ton of Bluelock LLC.
State attorney general campaigns will be in full swing with 31 elections this year. In addition to three top substantive areas, campaign issues themselves will influence how state attorneys general prioritize enforcement, says Joe Jacquot, former chief deputy attorney general of Florida, now with Foley & Lardner LLP.
As with 2016, there were no major U.S. Supreme Court decisions impacting indirect purchaser claims in 2017. Unlike 2016, however, several circuit court decisions addressed important issues such as ascertainability, 23(b)(3) predominance, and indirect versus direct purchaser status, say Chris Micheletti and Christina Tabacco of Zelle LLP.
Beyond what it heralds for the marijuana industry, Jeff Sessions’ memo on marijuana enforcement signals a new era of increasingly decentralized federal prosecutorial power, say attorneys with Perkins Coie LLP, including former Colorado Chief Justice Michael Bender.