The Third Circuit on Tuesday upheld a win for TD Bank NA in a proposed class action alleging the bank charged an embedded fee when converting foreign currency, ruling nothing in its customer agreement specified which formula the bank would use and that the suit did not present any evidence the formula was intentionally withheld.
Delaware's Chancellor issued a formal opinion Tuesday backing up his signal in March that the Chancery Court would keep alive some investor claims that Patrick Soon-Shiong improperly tapped $47 million from Precision Biologics Inc. after acquiring a controlling stake in 2015.
Paragon Litigation Trust's $1.7 billion clawback suit against Noble Corp., the former parent of once-bankrupt oil explorer Paragon Offshore PLC, will have to wait for a decision on whether the trust’s claims are arbitrable after a Delaware bankruptcy judge stayed the case Tuesday pending argument on Noble’s arbitration motion.
Certain U.S. Navy and Air Force medical facilities do not reliably ensure sensitive patient health information is protected from intrusion and inadvertent disclosures, raising the possibility the facilities could be hit by a cyberattack, a report by a government watchdog released Monday says.
A Delaware state court judge on Monday granted final judgment to Verizon and GTE in their suit seeking coverage for the $48 million they spent defending themselves against a $14 billion shareholder suit, saying the time for the insurers to object to the claimed defense costs is past.
The Weinstein Co., battered by a tidal wave of sexual assault and harassment allegations against its co-founder Harvey Weinstein, secured a Delaware bankruptcy judge’s approval Tuesday to sell most of its assets to an affiliate of private equity firm Lantern Capital for a diminished $260 million in cash.
One of the largest franchisees of casual dining chain Applebee's Neighborhood Grill and Bar hit Chapter 11 on Tuesday, with its 175 restaurant locations listing debts of at least $100 million with plans to use existing lenders' cash collateral and a potential post-petition loan to fund its case.
Vanda Pharmaceuticals Inc. on Monday sued two pharmaceutical companies in Delaware federal court for infringing its patents for a sleep disorder medication after the two companies applied to sell generic versions of the brand-name drug.
Attorneys for Rite Aid Corp. shareholders urged Delaware’s chancellor Monday to fast-track a dispute over stockholder rights to court appraisal of their shares in a partial merger with Albertsons Cos. LLC, despite a deal structure that Rite Aid said plainly rules out the option.
The Third Circuit ruled Friday that forum selection clauses in cargo shipping agreements don’t unlawfully lessen a ship or carrier’s liability for damage, issuing a precedential decision that clarified the intent behind the United States Carriage of Goods by Sea Act.
A pair of equityholders of bankrupt oil and gas producer EV Energy Partners LP asked a Delaware bankruptcy judge Monday to appoint an examiner in the case to look into potential prepetition transactions that allegedly stripped the debtor of value.
Bankrupt Italian eatery chain Bertucci’s resolved objections Monday in Delaware from the official committee of unsecured creditors in its Chapter 11 case by extending the deadlines for its asset sale procedures and increasing the committee’s budget.
A coalition of eight Democratic attorneys general on Monday urged the U.S. Environmental Protection Agency to withdraw its recent proposal to require the publication of data underlying scientific studies that are considered in the regulatory process, saying that it is vague and rushed.
The Patent Trial and Appeal Board on Friday said it wouldn’t re-evaluate an Astellas Pharma Inc. patent covering the overactive bladder treatment drug Myrbetriq, despite a push from a unit of fellow Japanese drugmaker Sawai to do so.
The Weinstein Co. and its unsecured creditors stepped up their feud Monday over an unofficial after-the-deadline bid for the bankrupt business, an offer that TWC said appeared to be a "coordinated effort to sabotage" a $310 million cash deal with Lantern Entertainment LLC.
They’ve gone up against big-name companies while advocating for plaintiffs ranging from grieving family members to shareholders and consumers in some of the biggest and most well-known cases of the past year.
Six former insiders and counsel of identity-verification startup Jumio, including a WilmerHale partner, were sued in Delaware bankruptcy court on Friday by an investor who said they ruined the company by causing it to forgo opportunities to be recapitalized before it filed for bankruptcy in March 2016.
Rite Aid Corp. urged the Delaware Chancery Court late Thursday to scuttle two legal fee claims by the company’s once-jailed general counsel, citing disqualification of one demand under the company’s charter and a dismissed case that mooted the second.
Health and activity tracking company Fitbit Inc. said Thursday a Delaware derivative suit over the sale of stock by company directors should be dismissed because the board members did not have any nonpublic information before selling the shares in an initial public offering.
The New Jersey Appellate Division ruled Thursday that the state doesn’t have jurisdiction over a Mexico-based plastic supplier’s contract lawsuit against a manufacturer also based in that country, just because the manufacturer has a stateside subsidiary.
It’s difficult to say whether an attorney’s social etiquette has any impact on the verdict outcome, but the fact that jurors continually tell us about counsel’s irksome behaviors suggests that, at the very least, these behaviors distract jurors from the issues on which they should be concentrating, says Christina Marinakis, director of jury research at Litigation Insights.
Despite the Trump administration's desire to shut down the Legal Services Corp., thankfully the budget that Congress passed and the president signed into law last week has restored $410 million of funding to the legal aid organization. An unlikely brief for preserving LSC may be found in the quirky Denzel Washington film "Roman J. Israel, Esq.," says Kevin Curnin, immediate past president of the Association of Pro Bono Counsel.
Over the last few years, there has been a significant increase in litigation and investigations related to corporate social responsibility issues. Activity has increased not only in the United States at the federal, state and local level, but also in several other countries. Proceedings and investigations have involved many different statutes and theories of liability, say attorneys with Ropes & Gray LLP.
The advent of blockchain technology and its future utilization in the securities industry present the possibility for the tracing of ownership and votes of shares of corporations being acquired. Appraisal arbitrageurs may need to evaluate the continuing attractiveness of their investment strategy as a result, say attorneys with Potter Anderson & Corroon LLP.
In order to enable lawyers to best meet cybersecurity challenges, state bars should pass rules that adopt a cybersecurity framework to be developed by a national committee, says Shaun Jamison, associate dean of faculty and professor at Purdue University's Concord Law School.
As the quantity and quality of corporate social responsibility disclosure increases, there is also movement toward greater comparability. Larger companies should benchmark their disclosures against global peers and evolving global standards, since over time, enhancements in foreign disclosure practices are likely to drive disclosures by many U.S. companies, say attorneys with Ropes & Gray LLP.
To many young attorneys, becoming an equity partner shows a firm's long-term commitment, meaning job security and a voice in important firm matters. However, the industry has changed and nowadays it may not be better to enter a new firm as an equity partner, says Jeffrey Liebster of Major Lindsey & Africa.
Increasingly, corporate social responsibility must be on the radar screen of in-house counsel. Investors are paying more attention to environmental, social and governance issues, and a growing number of shareholder proposals on these subjects should be expected, say attorneys with Ropes & Gray LLP.
In his new book, "Without Precedent: Chief Justice John Marshall and His Times," professor Joel Richard Paul ably explains more than a dozen of Marshall’s most significant opinions, which comes as no surprise. What is a surprise — a pleasant one — is the book's readability, says Judge Thomas Hardiman of the Third Circuit.
The Delaware Chancery Court's opinion in LSVC v. Vestcom serves as a reminder of the potential high-value impact of pre- and post-closing tax provisions in private M&A, as well as their interaction with purchase price adjustment provisions, say attorneys with Paul Weiss Rifkind Wharton & Garrison LLP.