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Delaware

  • August 3, 2018

    Lender Says Applebee's Franchisee Ch. 11 Bonuses Excessive

    The largest secured lender of bankrupt Applebee’s franchisee RMH Franchise Holdings Inc. objected Friday to the debtor’s proposed employee incentive and retention plans, saying they are excessive and duplicative of existing payment programs.

  • August 3, 2018

    ​​​​​​​FTC Can't Block Theoretical Drugmaker Moves, Shire Says

    The Federal Trade Commission is exceeding its authority by trying to preemptively block Shire ViroPharma Inc. from petitioning the U.S. Food and Drug Administration to delay generic competition based on theoretical concerns it may do so, the drugmaker told the Third Circuit in a newly filed brief.

  • August 3, 2018

    Oaktree Slams Claire's Ch. 11 Moves, Challenges Control

    Private equity firm Oaktree Capital Management challenged Claire's Inc.'s exclusive control of its $2.1 billion Chapter 11 Friday, arguing that the jewelry retailer has backed out of an assurance that it will seriously entertain a wider range of bids for the company.

  • August 3, 2018

    Brookstone To Begin Closing Sales At All 101 Mall Locations

    Attorneys for Brookstone told a Delaware bankruptcy judge Friday that the consumer gadget retailer will begin closing sales at all 101 of its mall stores and its lone discount outlet center beginning immediately as it pursues a going concern sale for its remaining retail and e-commerce assets.

  • August 3, 2018

    Weinstein Says Rape Grand Jury Didn't See Exculpatory Info

    Disgraced movie mogul Harvey Weinstein asked a Manhattan state judge Friday to dismiss criminal charges accusing him of raping three women, asserting that Manhattan District Attorney Cyrus Vance kept exculpatory emails away from the grand jury that indicted him.

  • August 3, 2018

    Chancery Denies Quick Breakup For $1B Development Firm

    Pointing to contract remedies that have not yet been exhausted, a Delaware vice chancellor on Friday stayed or dismissed four counts in a suit seeking dissolution of a $1 billion Long Island, New York, redevelopment company, over one partner’s objections that distrust had poisoned the venture.

  • August 3, 2018

    Xerium Investor Asks Delaware Court To Halt $833M Merger

    The $833 million merger of fabrics manufacturer Xerium Technologies Inc. with an Austrian technology group has been hit with a challenge in Delaware federal court by an investor who claims shareholders have not been provided enough information about the transaction.

  • August 2, 2018

    Judge Trims 'War Dogs' Suit Over 'American Greed' Episode

    CNBC LLC, NBCUniversal Media LLC and the production company behind CNBC’s show “American Greed” had false advertising claims trimmed Thursday from a Delaware federal court suit brought by a company affiliated with a former defense contractor whose life story became the film “War Dogs.”

  • August 2, 2018

    Carlyle Group's $160M Stock Windfall Triggers Chancery Suit

    A minority investor in oil and gas explorer WildHorse Resource Development Corporation said in a Delaware Chancery Court complaint Thursday that the company gave a $160 million windfall To The Carlyle Group LP in the form of preferred stock shares in connection with a $625 million acquisition of acreage in the Eagle Ford shale formation.

  • August 2, 2018

    Cotiviti Investor Sues Over $4.9B Verscend Deal

    Stockholders of health care payment validation giant Cotiviti Holdings Inc. launched a proposed Securities Exchange Act class action against the company and its directors late Wednesday in Delaware federal court targeting alleged disclosure failures in connection with a planned $4.9 billion merger.

  • August 2, 2018

    Rent-A-Center Investor Sues To Halt $1.4B PE Sale

    A Rent-A-Center investor filed a complaint in Delaware federal court Thursday seeking to stop the nearly $1.4 billion sale of the rent-to-own retailer to a private equity firm, claiming it issued incomplete statements about the transaction to stockholders.

  • August 2, 2018

    2 Investors Say Boardwalk Pipeline Settlement Is Unfair

    A pair of investors in pipeline venture Boardwalk Pipeline Partners LP on Thursday told a Delaware Chancery Court judge that they will object to the proposed settlement of a potential class action suit because the consideration given to shareholders is not enough to justify broad releases being given to the defendants.

  • August 2, 2018

    Weinstein Ch. 11 Emails OK’d For Rape Charges Defense

    A Delaware bankruptcy judge consented Thursday to the use of 40 redacted victim emails from The Weinstein Co.’s Chapter 11 files in a reported plan to seek dismissal of rape and sexual predator charges against Harvey Weinstein in a New York proceeding on Friday.

  • August 2, 2018

    Retailer Brookstone Opens Ch. 11 In Del. With Sale Plans

    Specialty retailer Brookstone again filed for Chapter 11 protection in Delaware on Thursday with plans to close 102 mall stores and sell its airport locations, wholesale and e-commerce operations, citing continued lagging sales just four years after its prior bankruptcy sale.

  • August 2, 2018

    Del. Court Tosses NextEra's $60M Admin. Claim In EFH Ch. 11

    NextEra Inc. can't recover $60 million in costs it incurred while seeking regulatory approval for its failed $19 billion acquisition of bankrupt Energy Future Holdings Inc., a Delaware bankruptcy court ruled on Wednesday, finding that NextEra's administrative claim was clearly barred by the terms of that deal.

  • August 1, 2018

    Qualcomm Investor Sues Over $117B Broadcom Merger Bust

    A Qualcomm Inc. investor opened a derivative lawsuit against the company and its directors late Wednesday in Delaware Chancery Court, alleging the tech company’s board made undisclosed and self-interested decisions that scuttled a proposed $117 billion merger with Broadcom Ltd. and cost Qualcomm $8 billion in market value.

  • August 1, 2018

    Cloud Storage Co. Gets OK On Ch. 11 Bid, Auction Plans

    Cloud storage technology firm Tintri Inc. received bankruptcy court approval in Delaware on Wednesday for its plan to run a Chapter 11 auction for the sale of its assets, including a $52.5 million stalking horse offer.

  • August 1, 2018

    Dell, HP, Hitachi Copied Metadata Resizing IP, Suit Says

    A Delaware-based technology services company on Wednesday accused technology giants Hewlett Packard, Dell Inc. and Hitachi Ltd. of infringing a patent for managing metadata in complaints filed in federal court.

  • August 1, 2018

    Gibson Ch. 11 Disclosures Get Nod With Creditor Settlement

    The Chapter 11 disclosure statement of bankrupt instrument maker Gibson Brands Inc. received court approval Wednesday in Delaware after a debtor attorney described a settlement that resolved the objections of the official committee of unsecured creditors.

  • August 1, 2018

    Weinstein Creditors Want Del. Ch. 11 Probe Of Co. Exec

    Citing reports that former The Weinstein Co. Holdings Co. LLC executive David Glasser enriched himself at company expense as bankruptcy neared, the company's unsecured creditors committee on Tuesday sought Delaware court approval for a Chapter 11 probe.

Expert Analysis

  • Series

    From Lawmaker To Lawyer: 6 Things I Learned In Congress

    Charles Gonzalez

    I found that senior members of Congress didn’t have time to mentor younger members. Lawyers — though just as busy as members of Congress — cannot afford to follow this model, says former Rep. Charles Gonzalez, D-Texas, of Ogletree Deakins Nash Smoak & Stewart PC.

  • A Survey Of LLC Director Obligations In Delaware: Part 2

    Gail Weinstein

    While Delaware law relating to corporate fiduciary duties and exculpation for personal liability has been transformed over the past several years, resulting in less potential for director liability, the limited liability company format offers even more flexibility for directors when the governing agreement is properly drafted and followed, say attorneys with Fried Frank Harris Shriver & Jacobson LLP.

  • The Where, When And What Of DTSA Appeals: Part 1

    Gregory Lantier

    There has been virtually no appellate guidance on the meaning and scope of the Defend Trade Secrets Act in the two years since it was enacted. Only four appellate panels have addressed the law, say Gregory Lantier and Thomas Sprankling of WilmerHale.

  • A Survey Of LLC Director Obligations In Delaware: Part 1

    Gail Weinstein

    Recent cases suggest that Delaware courts extend a high degree of deference to limited liability company and partnership agreement provisions. But importantly, the facts and circumstances can also very much affect a court’s decision, say attorneys with Fried Frank Harris Shriver & Jacobson LLP.

  • Opinion

    BigLaw's Associate Salary Model Is A Relic Of A Bygone Era

    William Brewer

    Legal industry compensation practices are once again in the news as BigLaw firms continue to match the new high watermark of $190,000 for first-year associate salaries. The typical model of increasing associate salaries uniformly fails star associates, the firms they work for and, ultimately, the clients they serve, says William Brewer, managing partner of Brewer Attorneys & Counselors.

  • When An Activist Designee Joins Your Board

    Melissa Sawyer

    It has become more common for companies approached by credible activists to ultimately provide the activist with a board seat. The extent to which that relationship can be constructive depends, to some degree, on whether the company used a scorched-earth approach to defend itself against the activist at the outset, say Melissa Sawyer and Marc Treviño of Sullivan & Cromwell LLP.

  • #MeToo At Law Firms And What We Can Do About It

    Beth Schroeder.JPG

    While some may say it’s ironic, it’s also embarrassing and enraging that the very industry that offers anti-harassment training, policies and counsel now finds itself the subject of #MeToo headlines. The American Bar Association recommendation that will bring about the greatest change is the call to provide alternative methods for reporting violations, says Beth Schroeder, chair of Raines Feldman LLP's labor and employment group.

  • Knowledge Lawyers Can Help Firms Stay Ahead Of The Curve

    Vanessa Pinto Villa

    In a profession notoriously averse to change, it should come as no surprise that there is skepticism about the value of having attorneys perform nonbillable tasks. But U.S. law firms have slowly begun to incorporate knowledge lawyers into their operations — and the trend is likely to continue, says Vanessa Pinto Villa of Hogan Lovells.

  • Bristol-Myers Squibb: 1 Year Later

    Adam Pollet

    In the year since the U.S. Supreme Court decided Bristol-Myers Squibb Co. v. Superior Court of California — limiting where plaintiffs can bring claims and curbing forum-shopping in mass tort litigation — courts have grappled with questions that the ruling did not address, and defendants have pursued jurisdictional defenses in class actions and federal cases that were not previously available, say attorneys with Eversheds Sutherland LLP.

  • Insights From State AG Coordinated Opioid Investigation

    Richard Lawson

    Much ink has been and will be spilled over the merits and complexities of the lawsuits brought against opioid manufacturers by 23 state attorneys general. However, for any company engaged in a consumer-facing industry, the progress of the recent multistate investigation offers lessons on what to expect when subject to this type of inquiry, says Richard Lawson of Manatt Phelps & Phillips LLP.