Delaware

  • January 29, 2018

    Altaba Seeks To Toss Yahoo-Verizon Sale Noteholder Bonus

    Yahoo Inc. successor Altaba Inc. on Friday fired back against a claim in Delaware Chancery Court that it owes BNY Mellon Trust a bonus under a $1.4 billion notes-to-shares conversion agreement, saying not enough of Yahoo’s assets were sold to trigger it.

  • January 29, 2018

    Patent Deal Clears Actavis' Zohydro Generic For 2029

    Actavis Laboratories FL Inc. will be able to launch its generic version of the hydrocodone-based painkiller Zohydro ER in March 2029, Pernix Therapeutics Holdings Inc. announced Monday as part of a settlement ending patent infringement litigation in Delaware federal court.

  • January 29, 2018

    Kite Pharma Investors Seek Appraisal After $11B Gilead Buy

    Shareholders of biopharmaceutical company Kite Pharma Inc. filed an appraisal petition Monday in Delaware demanding a court valuation of their holdings in the company following its $11.9 billion acquisition by Gilead Sciences Inc.

  • January 29, 2018

    Climate Change Starting To Emerge As A Bankruptcy Issue

    Climate change issues are beginning to make an appearance in corporate bankruptcy cases, with companies citing environmental regulatory obligations and unusual weather events as contributors to their predicaments, and the frequency of such cases is expected to accelerate with smaller regional business suffering the most at first, experts say.

  • January 29, 2018

    Macaroni Grill Creditors Seek OK For $8M Lien Challenge

    Macaroni Grill's unsecured creditors asked a Delaware judge late Friday to let the committee go around official Chapter 11 debtors and go after assets locked up by disputed liens and prepetition financing agreements, potentially increasing the group’s recoveries by $8 million or more.

  • January 26, 2018

    Fresh Market Board Says Law Supports Toss Of Investor Suit

    Directors of The Fresh Market Inc. told the Delaware Supreme Court in an answering brief filed late Thursday that the dismissal of an investor class action over the company’s $1.4 billion acquisition by Apollo Global Management LLC should be upheld because the lower court correctly applied the law.

  • January 26, 2018

    NAB Seeks To Oppose Media Ownership Deregulation Suit

    The National Association of Broadcasters on Thursday asked to intervene in a suit in the Third Circuit challenging the Federal Communications Commission’s deregulation of its broadcast media ownership rules, saying its members would be adversely affected if the decision is reversed.

  • January 26, 2018

    GST AutoLeather Nears Deal On DIP Funding And Sale Plans

    Bankrupt vehicle upholstery maker GST AutoLeather Inc. told a Delaware judge Friday that issues over its post-petition funding and plans to sell off its assets had been largely resolved after an aborted attempt at gaining approval for the sale last week.

  • January 26, 2018

    3rd Circ. Says Pa. School Is Immune From Retaliation Suit

    In a precedential opinion Friday, the Third Circuit refused to revive a onetime Pennsylvania university executive’s whistleblower retaliation suit, saying that her comments about school budget misrepresentations were not constitutionally protected and that the state higher education system is shielded from such litigation.

  • January 26, 2018

    Bancomext Wants $550M In Pre-Ch. 11 M&G Transfers Probed

    Mexico’s development bank has asked the Delaware judge handling M&G USA Corp.’s Chapter 11 to authorize an examination of transfers between nondebtor affiliate sites in Mexico and M&G’s bankrupt businesses, saying as much as $550 million might have gone to debtor companies improperly.

  • January 26, 2018

    Boston Herald Unions Fight To Keep CBAs Ahead Of Sale

    Four unions representing various employees at the bankrupt Boston Herald have objected to the debtor's bid to kill their collective bargaining agreements ahead of a two-bidder sale process in Delaware bankruptcy court, calling the request one-sided, unfair and premature.

  • January 26, 2018

    Del. Justices Remand Citigroup Investor Suit

    Relying on an uncommonly deployed “relief from judgment” rule, Delaware’s Supreme Court on Thursday sent back to Chancery Court a dismissed Citigroup Inc. shareholder suit seeking damages for costly episodes of alleged company fraud and mismanagement.

  • January 25, 2018

    AOL Says Dell Ruling Gives It a Leg Up In Appraisal Case

    AOL told the Delaware Chancery Court, in a brief made public Thursday, that the state Supreme Court’s recent ruling in the Dell appraisal case “entirely undermines” shareholders’ contention in its own appraisal proceedings that the $4.4 billion merger with Verizon was undervalued.

  • January 25, 2018

    Oracle, Shareholders Spar Over $9.3B NetSuite Merger

    Attorneys for key directors of tech giant Oracle Corp. told a Delaware vice chancellor Thursday that the company ran a "playbook" $9.3 billion acquisition of NetSuite Inc. despite putative class claims that founder Larry Ellison — who also controls NetSuite — engineered a deeply conflicted, personally profitable deal.

  • January 25, 2018

    Benchmark Capital Drops Directors Suit Against Ex-Uber CEO

    A venture capital firm dropped its director-selection suit in Delaware Chancery Court against Uber Technologies Inc. co-founder Travis Kalanick on Thursday after the two sides reportedly reached a deal last week.

  • January 25, 2018

    Investors Say Controller Tanked Utah Metal Mining Co.

    Equity investors in a precious metal mining firm accused the company's controlling partner in a suit filed Wednesday in Delaware state court of scheming to drive the company into insolvency so that it could acquire all of its assets and eliminate the interests of other investors.

  • January 25, 2018

    Del. Gov. Backs Strine's Proposal To Expand Chancery Bench

    Delaware Democratic Gov. John Carney on Thursday unveiled a $4.2 billion budget proposal that backs an ambitious proposal from the state Supreme Court's Chief Justice Leo E. Strine Jr. to expand the Chancery Court’s bench from five to seven judges, recommending that the Legislature approve the two additional jurists and eight new support staff.

  • January 25, 2018

    Del. Justices Uphold Initial Toss Of Walmart Derivative Suit

    The Delaware Supreme Court affirmed Thursday a previous ruling from the state’s Chancery Court dismissing derivative claims against the directors of Wal-Mart Stores Inc., and rejected a subsequent suggestion from the lower court that derivative suits shouldn’t be precluded before surviving a motion to dismiss.

  • January 24, 2018

    Steelworkers Seek Assurance M&G Buyer Will Honor CBA

    The United Steelworkers union representing 120 workers at a West Virginia plastics plant owned by bankrupt M&G Polymers LLC filed a conditional objection Wednesday in Delaware seeking assurance that any buyer of the facility would honor a collective bargaining agreement with the union.

  • January 24, 2018

    Investor In Stan Lee Media Company Challenges Merger

    A shareholder in a media company formed by comic book icon Stan Lee told the Delaware Chancery Court Wednesday that Lee and the company’s other director shortchanged shareholders in a “fire sale” merger with a Hong Kong company last year.

Expert Analysis

  • Series

    Judging A Book: Saris Reviews 'Locking Up Our Own'

    Judge Patti Saris

    Having just completed a six-year term as chair of the U.S. Sentencing Commission, I read Yale Law School professor James Forman's new book, "Locking Up Our Own: Crime and Punishment in Black America," with particular interest, says Judge Patti Saris, chief judge for the U.S. District Court for the District of Massachusetts.

  • COPPA: The Latest Chapter In Consumer Class Actions

    Perrie Weiner

    Though the Children’s Online Privacy Protection Act does not provide a private right of action, a recent spate of consumer class actions have attempted to use the law as a predicate for asserting violations of common law privacy-related torts and various state consumer protection statutes, say attorneys at DLA Piper LLP.

  • When Activists Are At The Gate: Lessons From Chancery

    Edward Micheletti

    Several recent Delaware Chancery Court opinions offer helpful insight about the impact that activist investor involvement has on board decision-making leading to a transaction, and how these board decisions will be reviewed by the courts in any subsequent litigation, say attorneys with Skadden Arps Slate Meagher & Flom LLP.

  • Why Asking About Salary History Is Risky Anywhere

    Joseph Kroeger

    Recently there has been significant attention around new laws and ordinances that prohibit employers from asking job applicants about their salary history in various U.S. states and cities. But are employers outside of these jurisdictions free to ask for salary history information of applicants without risk? Hardly, say Joseph Kroeger and Audrey Roberts of Snell & Wilmer LLP.

  • Dissecting NAIC's Insurance Data Security Model Law

    Lawrence Hamilton

    On the heels of the new Insurance Data Security Model Law recently adopted by the National Association of Insurance Commissioners, members of Mayer Brown explain the new law, its substantive requirements, and the takeaways for the insurance industry.

  • 6 Months After TC Heartland, Adjusting To A New Landscape

    Nathan Speed

    The U.S. Supreme Court’s May 22, 2017, decision in TC Heartland, which overturned decades of accepted practice on how to evaluate the proper venue for patent litigation, has been lauded by some as ushering in a new era in patent litigation. Others — including some federal judges who have been applying TC Heartland — have found the decision to be much less significant, say Nathan Speed and Stuart Duncan Smith of Wolf Greenfield & Sacks PC.

  • Roundup

    Judging A Book

    Justice and Empathy

    Are the latest books on the judicial system worth reading? Federal judges share their thoughts in this series of book reviews.

  • Don't Waste This Planning Cycle: Year-End Strategies

    Hugh A. Simons

    Law firms are businesses where partners operate with significant autonomy. To see their priorities translate into individual partner action, firm leaders should use a few collaborative strategies, suggests Hugh A. Simons, former senior partner of The Boston Consulting Group and former COO of Ropes & Gray LLP.

  • From Snaps To Tweets: The Craft Of Social Media Discovery

    Matthew Hamilton

    Courts have consistently held that social media accounts are subject to established discovery principles but are reluctant to allow parties to rummage through private social media accounts. Recent case law confirms that narrowly tailored information requests get the best results, say Matthew Hamilton, Donna Fisher and Jessica Bae of Pepper Hamilton LLP.

  • Feature

    An Interview With Former DHS Secretary Jeh Johnson

    Randy Maniloff

    Jeh Johnson, the former secretary of homeland security, was kind enough to let me visit him to reflect on his diverse career. He told stories that left me speechless. And yes, the man who was responsible for the Transportation Security Administration removed his shoes when going through airport security. You bet I asked, says Randy Maniloff of White and Williams LLP.