A shareholder of retail pharmacy chain Rite Aid Corp. filed suit Tuesday in Delaware Chancery Court seeking to preserve his rights to an appraisal of stock in the company’s proposed merger with grocery chain Albertsons Cos. LLC.
Fallout over the Cambridge Analytica scandal continued Wednesday when a Facebook investor hit the social media giant’s leadership with a stockholder derivative suit in Delaware’s Chancery Court, seeking “extraordinary equitable relief” on claims that founder Mark Zuckerberg and the company’s top brass breached their fiduciary duty by hiding the scandal.
Vehicle upholstery maker GST AutoLeather received court approval Wednesday in Delaware for a Chapter 11 plan centered around a sale of its assets and the creation of a cash pool for recoveries by creditors.
Stamoulis & Weinblatt LLC maintained its perch atop the list of law firms filing the most patent suits in the first quarter of 2018, but there was plenty of shakeup below, with several new firms clawing their way onto the list.
A former Tribune Media Co. employee urged the Third Circuit on Wednesday to revive his 10-year-old race bias claim dismissed by the bankruptcy judge overseeing the company’s Chapter 11 proceeding, arguing he never knew he had the option to have his case heard in another jurisdiction.
A federal jury in Delaware took up criminal charges Wednesday against four Wilmington Trust Corp. executives accused of conspiring to hide hundreds of millions of dollars in bad loans, after a prosecutor said in closing that the case focused on false statements and disclosures.
Missing links, unsupported charges and reasonable doubt riddle the criminal fraud and conspiracy case federal prosecutors laid out against four Wilmington Trust Corp. executives accused of hiding hundreds of millions of dollars in past due loans, defense attorneys argued near the end of a trial in Delaware on Tuesday.
Insurance services firm Patriot National Inc. will have to trim releases included in its Chapter 11 plan of reorganization after a Delaware judge agreed Tuesday with the United States Trustee’s objection over the wide scope of the proposed releases.
A proposed class of University of Pennsylvania employee retirement plan participants alleging the plan was mismanaged told the Third Circuit on Monday that several amicus briefs submitted by outside groups should not be accepted because they give the defendants an unfair word-count advantage.
The Third Circuit on Tuesday said a group of Roman Catholic nuns can intervene in Pennsylvania’s suit aimed at blocking the Trump administration’s rules dialing back the Affordable Care Act’s contraception mandate through religious or moral exemptions for employers.
A Delaware health care laboratory services startup has hit LabCorp and one of the state’s Medicaid service management organizations with a $50 million antitrust and fraud lawsuit, claiming the government contractor conspired to make LabCorp the state’s only Medicaid lab service provider at the expense of patients.
Top business groups on Monday implored the U.S. Supreme Court to examine a Third Circuit ruling that let consumers continue suing drugmakers over allegedly oversize eyedrops, warning that the ruling invites “a new wave of abusive, no-injury class action litigation.”
The former New Jersey Gov. Chris Christie associates sentenced to prison for orchestrating a retaliatory traffic jam on the George Washington Bridge urged the Third Circuit to overturn their convictions, arguing Tuesday that "bad" political decisions, not criminal misuse of property, were behind the lane closures.
A U.S. Justice Department attorney urged federal jurors Monday to avoid over-complicating the felony trial of four Wilmington Trust executives charged in Delaware with concealing hundreds of millions of dollars in past due commercial loans.
Akorn Pharmaceuticals Inc. on Monday sued Fresenius Kabi AG in Delaware Chancery Court for ending a $4.3 billion merger of the companies over alleged violations of U.S. Food and Drug Administration standards on data integrity.
Directors of Tile Shop Holdings Inc. filed a proposed settlement in Delaware’s Chancery Court Monday, promising to overhaul internal controls in the hope of resolving two derivative lawsuits filed over the board’s conflicted relationship with a Chinese supplier that caused the company to sell lead-contaminated tile products.
The producers of a film about the 2008 terror attacks on Mumbai, India, defended their attempt to remove the movie from a list of assets being sold by The Weinstein Co. through its Chapter 11 case, saying the debtor needs to address questions of ownership of a distribution contract.
The Zohar Funds told a Delaware bankruptcy judge Monday that they had reached terms with creditors and insurers to resolve a motion to dismiss the Chapter 11 cases of the debtors, eliminating the need for scheduled hearings on the matter.
The full Delaware Supreme Court on Monday affirmed the Chancery Court's appraisal of Clearwire Corp. at $2.13 per share in its $3.6 billion buyout by Sprint Nextel Corp., representing a 57 percent discount to the market price.
Delaware’s Chancery Court on Monday refused to let Academy Award-winning documentarian Alex Gibney obtain the videotaped depositions of biotech venture Theranos Inc.’s executives in two now-settled securities suits, saying the videos were never filed with the court and thus cannot be handed over.
Weil v. Vereit demonstrates that real estate investment trusts and other parent entity real estate firms may be able to avoid lawsuits brought in Delaware or other states in which their subsidiaries are formed by asserting a personal jurisdiction defense, say attorneys with Jenner & Block LLP.
A group of cannabis-oriented businesses recently announced standards meant to "protect consumers and demonstrate to regulators, financial institutions and the public that they operate at the highest level of ethics and responsibility." But these measures, including labeling, child-resistant packaging and health warnings, are unlikely to convince the U.S. Justice Department, says Neama Rahmani of West Coast Trial Lawyers.
In an age of data-driven decision-making, too many companies are making important choices about dispute resolution based on anecdotes and isolated experiences. I’d like to explain why a number of objections to arbitration are ill-founded, says Foley Hoag LLP partner John Shope.
Multiple courts have held that discoverable material from negotiations with a litigation funder, when executed properly, can be attorney work product and immune from disclosure in the later litigation. The recent Acceleration Bay decision is indicative of what happens when difficult facts conflict with best practices, says Eric Robinson of Stevens & Lee PC.
Although companies often do not disclose internal or government investigations generally, and there are no cases obligating disclosure of sexual harassment investigations specifically, companies are not impervious to litigation for failing to disclose such information, or for breach of fiduciary duty in connection with tolerating sexual harassment, say attorneys with Goodwin Procter LLP.
Legal leaders who want to meet their clients' expanding expectations should start moving their documents to future-ready document management solutions now if they want to stay competitive in the next few years, says Dan Puterbaugh of Adobe Systems Inc.
The Delaware Chancery Court's decision in Miller v. HCP clarifies that minority investors in limited liability companies typically have very limited rights. Governing agreements often provide that LLC managers have no fiduciary duties, and the implied covenant of good faith is a weak tool for plaintiffs, say attorneys with Fried Frank Harris Shriver & Jacobson LLP.
It is too early to assess the full reach that Dell will have on appraisal in Delaware. But the Delaware Chancery Court's ruling last week in Verition Partners v. Aruba Networks provides a first look, say John Hughes and Jack Jacobs of Sidley Austin LLP.
Any cannabis business that is holding its breath waiting for the U.S. Patent and Trademark Office to start registering cannabis-related trademarks should give up. But those located in states that have legalized recreational and/or medicinal cannabis should immediately seek state trademark registration where available, says Joshua Cohen, leader of Wendel Rosen Black & Dean LLP's intellectual property group.
As distributed ledgers and blockchains emerge as means for processing and recording corporate and commercial transactions, the Delaware LLC may become an attractive organizational form for next-generation "decentralized autonomous organizations," say attorneys with Potter Anderson Corroon LLP.