Delaware

  • March 25, 2024

    FTX Clawbacks Unlikely To Help Bankman-Fried At Sentencing

    FTX founder Sam Bankman-Fried probably won't find much success in arguing for a shorter prison term based on the billions of dollars recovered by the shuttered crypto exchange's bankruptcy estate, experts told Law360 ahead of this week's much-anticipated sentencing hearing.

  • March 22, 2024

    Gilead's Win Upheld In Billion-Dollar HIV Drug Patent Case

    A Delaware federal judge on Friday largely upheld a jury's verdict rejecting the government's potentially billion-dollar claim that Gilead Sciences Inc. infringed patents covering HIV drugs, ruling that the jury was correct in finding Gilead didn't cause doctors and patients to infringe.

  • March 22, 2024

    Jury Says Dexcom Infringed 1 Abbott Patent In Mixed Verdict

    A Delaware federal jury decided Friday that Dexcom infringed a glucose monitor patent owned by an Abbott Laboratories unit, cleared it of infringing two others and hung on a fourth, setting up a later damages trial in the latest facet of a globe-spanning legal dispute between the companies.

  • March 22, 2024

    Dril-Quip Investor Alleges Merger Will Entrench Board

    A shareholder of oil drilling equipment company Dril-Quip Inc. hit its directors with a proposed class action in Delaware Chancery Court, alleging they added unreasonable provisions to the terms of its merger with Innovex Downhole Solutions Inc. to disenfranchise shareholders.

  • March 22, 2024

    Judge Signals OK For $15M DIP Loan To Petersen Health Care

    During a break in a hearing Friday afternoon in Delaware bankruptcy court, senior-living company Petersen Health Care reached an interim deal with its debtor-in-possession lender and its prepetition lenders to let it access $15 million of its proposed $45 million DIP loan.

  • March 22, 2024

    Feds Reach Deal To Seize, Sell FTX Executive Jets

    Federal prosecutors Friday told a New York federal judge they have reached a deal to seize and sell private jets intended to take convicted fraudster Sam Bankman-Fried and top executives of his bankrupt cryptocurrency exchange FTX to and from the company's Bahamian headquarters.

  • March 22, 2024

    US Trustee Says Fla. Healthcare Co. Can't Seal Stock Sale Bid

    The U.S. Trustee's Office has urged a Delaware bankruptcy judge to deny a Miami-based primary healthcare group's request in its Chapter 11 case to redact information in the debtor's motion to sell its shares in a healthcare claims reimbursement servicer.

  • March 22, 2024

    Minority Investor Seeks Docs As Truth Social Goes Public

    A minority stockholder of the company behind former President Donald Trump's Truth Social has demanded a New York clearing agent share whatever information it got about the company's stockholder lists before Digital World Acquisition Corp. shareholders voted to acquire the social media platform on Friday.

  • March 22, 2024

    3rd Circ. Says Tax Court Has Power To Tackle Debt Offset Case

    A woman whose tax refunds were withheld by the Internal Revenue Service for five years to satisfy what the agency said was her underlying tax liability will get another chance to convince the U.S. Tax Court that the government was wrong, the Third Circuit ruled Friday.

  • March 22, 2024

    Chancery Denies Midcase Appeal In TripAdvisor Dispute

    The Delaware judge who gave TripAdvisor Inc. the go-ahead to convert its corporate home to Nevada while upholding most of a shareholder lawsuit challenging the proposed move has refused to certify a midcase appeal of his ruling, despite what he called "disproportionate media attention" about companies fleeing Delaware.

  • March 22, 2024

    Del. Courts Examining 'Colonoscopy'-Like Bylaw Rules

    Invasive advance-notice bylaws that some observers say make shareholder board nominations as intrusive as a "colonoscopy" are reviving old questions in Delaware courts about how far boards can go to protect themselves against shareholder activism.

  • March 22, 2024

    Trump Wins Investor Approval Of Truth Social SPAC Deal

    Digital World Acquisition Corp. shareholders on Friday approved a proposal to acquire former President Donald Trump's social media platform, setting in motion long-delayed plans to take Trump's startup public despite unresolved litigation tied to the merger.

  • March 21, 2024

    Chemours Faces Investor Suit Over Alleged Exec Misconduct

    Chemical company The Chemours Co. and four of its current and former executives face claims they hurt investors by manipulating a certain financial metric so the executives might receive greater compensation under the company's incentive plans.

  • March 21, 2024

    UpHealth Claims $110M Win In Glocal Control Fight

    Global digital health company UpHealth Inc. says an arbitral panel has awarded it more than $110 million following a dispute that arose out of its subsidiary's acquisition of Glocal Healthcare Systems in 2020 — even as Glocal decried the award as "one-sided and perverse."

  • March 21, 2024

    CymaBay Investor Sues For Books On $4.3B Gilead Merger

    A shareholder of liver disease-focused biopharmaceutical company CymaBay Therapeutics Inc. sued the company in Delaware Chancery Court to extract more information over a proposed $4.3 billion merger with Gilead Sciences Inc., saying CymaBay has refused to hand over previously requested documents regarding the valuation analyses without a legitimate excuse.

  • March 21, 2024

    Canadian Supplement Co. Seeks US Bankruptcy Recognition

    A nutritional supplement supplier based in Montreal told a Delaware bankruptcy judge Thursday it needs the U.S. court to recognize its Canadian insolvency proceedings, reasoning that an eviction threat may cut off access to assets in California the debtor needs for its sale plans.

  • March 21, 2024

    Reorganized REIT Can't Duck Interest Post-Ch. 11, Judge Says

    Texas real estate investment trust Hartman SPE LLC must pay an additional $870,000 to satisfy a secured lender's claim, a Delaware bankruptcy judge ruled Thursday, finding that even though the mortgage is set to be repaid Friday, Hartman SPE is still responsible for interest until mid-April.

  • March 21, 2024

    Unabomber Prosecutor To Probe FTX's Sullivan & Cromwell Ties

    The Delaware bankruptcy court overseeing the Chapter 11 case of FTX Trading Ltd. has approved the appointment of a former federal prosecutor, whose experience includes work on the Unabomber case, to delve into accusations Sullivan & Cromwell is conflicted as debtor's counsel.

  • March 21, 2024

    Pot Co. Seller Says Chancery Must Decide Curaleaf Dispute

    A court needs to determine which corporate records Curaleaf Holdings Inc. should turn over in its $13 million price adjustment dispute with the seller of a multistate cannabis dispensary before it goes before an independent accountant, the seller told Delaware's Court of Chancery on Thursday.

  • March 21, 2024

    Nursing Home Woes, Cyberattack Sparked Petersen's Ch. 11

    Rising costs after the COVID-19 pandemic, cyberattacks and a general shift away from nursing homes led senior-living company Petersen Health Care to seek Chapter 11 bankruptcy protection this week with about $296 million in debt, according to a declaration filed Thursday by the company's top restructuring official.

  • March 21, 2024

    3rd Circ. Agrees Investors Have No Case Against Vax Maker

    The Third Circuit on Thursday upheld a Pennsylvania federal judge's ruling that a putative class of investors alleging biopharmaceutical company Ocugen Inc. made misleading statements about its ability to quickly produce a COVID-19 vaccine failed to state a claim against the company.

  • March 21, 2024

    Hospital Operator Alecto Healthcare Gets OK For Ch. 11 Plan

    A Delaware bankruptcy judge agreed to give hospital operator Alecto Healthcare Services LLC the all-clear on the company's Chapter 11 reorganization plan, saying the scheme was fair, achievable and made appropriate provisions for disposable income.

  • March 21, 2024

    Biden's Judicial Nominees Face New Barriers

    President Joe Biden is encountering new hurdles to placing his judicial nominees on the bench, particularly one who would be the first Muslim federal appellate judge if confirmed.

  • March 21, 2024

    Chancery Denies Icahn Midcase Appeal In Illumina Board Suit

    Carl Icahn can't interrupt his Chancery Court lawsuit against biotech Illumina Inc.'s board to appeal a decision about redactions to the Delaware Supreme Court, a vice chancellor ruled Wednesday, saying there are no "exceptional circumstances" that call for a midcase review.

  • March 20, 2024

    Petersen Health Care Files Ch. 11 Amid Suits Over HUD Loans

    Assisted living facility operator Petersen Health Care Inc. and more than 100 affiliates filed for Chapter 11 protection Wednesday in Delaware as the company faces claims it has failed to pay millions of dollars in federal housing loans.

Expert Analysis

  • Ghosting In BigLaw: How To Come Back From Lack Of Feedback

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    Junior associates can feel powerless when senior colleagues cut off contact instead of providing useful feedback, but young attorneys can get back on track by focusing on practical professional development and reexamining their career priorities, says Rachel Patterson at Orrick.

  • Worker Accommodations After Justices' Religious Bias Ruling

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    While the U.S. Supreme Court's recent Groff v. DeJoy decision makes it easier for employees to obtain religious accommodations under Title VII, it also guarantees more litigation over what counts as a substantial hardship for businesses, as lower courts will have to interpret the exact contours of the new standard, says Caroline Corbin at the University of Miami School of Law.

  • Opinion

    States Must Fight Predatory Real Estate Listing Agreements

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    As momentum against long-term real estate listing agreements continues to grow, states should take action to render existing agreements unenforceable and discourage future unfair and deceptive trade practices in real estate, says Elizabeth Blosser at the American Land Title Association.

  • Steps To Success For Senior Associates

    Excerpt from Practical Guidance
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    Adriana Paris at Rissman Barrett discusses the increased responsibilities and opportunities that becoming a senior associate brings and what attorneys in this role should prioritize to flourish in this stressful but rewarding next level in their careers.

  • How To Avoid A Zombie Office Building Apocalypse

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    With national office vacancy rates approaching 20%, policymakers, investors and developers will need to come together in order to prevent this troubling trend from sucking the life out of business districts or contaminating the broader real estate market, say Ryan Sommers and Robyn Minter Smyers at Thompson Hine.

  • Legal Profession Must Do More For Lawyers With Disabilities

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    At the start of Disability Pride month, Rosalyn Richter at Arnold & Porter looks at why lawyers with disabilities are significantly underrepresented in private practice, asserting that law firms and other employers must do more to conquer the implicit bias that deters attorneys from seeking accommodations.

  • NBA Players Must Avoid Legal Fouls In CBD Deals

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    The NBA’s recently ratified collective bargaining agreement allows athletes to promote CBD brands and products, but athletes and the companies they promote must be cautious of a complex patchwork of applicable state laws and federal regulators’ approach to advertising claims, says Airina Rodrigues at Brownstein Hyatt.

  • How Attys Can Avoid Exposing Their Firms To Cyberattacks

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    Attorneys are the weakest link in their firms' cyberdefenses because hackers often exploit the gap between individuals’ work and personal cybersecurity habits, but there are some steps lawyers can take to reduce the risks they create for their employers, say Mark Hurley and Carmine Cicalese at Digital Privacy & Protection.

  • 4th Circ. Ruling Continues Trend Of Insurer Bump-Up Wins

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    The Fourth Circuit's recent decision in Towers Watson v. National Union Fire Insurance, finding no directors and officers insurance coverage for underpayment in a reverse triangular merger, supports an emerging consensus that "acquisition" encompasses a variety of transaction types for the purposes of D&O bump-up exclusions, say Joshua Polster and Charlotte McCary at Simpson Thacher.

  • Virginia 'Rocket Docket' Slowdown Is Likely A Blip

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    After being the fastest or second-fastest federal civil trial court for 14 straight years, the Eastern District of Virginia has slid to 18th place, but the rocket docket’s statistical tumble doesn't mean the district no longer maintains a speedy civil docket, says Robert Tata at Hunton.

  • Chancery Reaffirms Very High Bar For Board Liability On Deal

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    The Delaware Court of Chancery's recent decision in a Block shareholder's suit over the purchase of Tidal serves as a reminder that an independent and disinterested board will not have liability unless it did not act in good faith — even when the court strongly criticizes flawed processes and the business decision, say attorneys at Fried Frank.

  • Indemnification In Exec Separation Deals: Read The Fine Print

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    The Delaware Chancery Court’s recent decision denying the former CEO of space infrastructure company Momentus the advancement of legal fees highlights the importance of considering post-employment indemnification and advancement rights in executive separation agreements, says Daniel Morgan at Blank Rome.

  • High Court Underscores DOJ's Role In Policing FCA Litigation

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    The U.S. Supreme Court's decision in Polansky v. Executive Health Resources reaffirms that the government has final say in False Claims Act cases, allowing for meaningful guardrails that deter private litigators from seeking to regulate industries that Congress has delegated to expert administrative agencies, say attorneys at Ropes & Gray.

  • 5 Management Tips To Keep Law Firm Merger Talks Moving

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    Many law firm mergers that make solid business sense still fall apart due to the costs and frustrations of inefficient negotiations, but firm managers can increase the chance of success by effectively planning and executing merger discussions, say Lisa Smith and Kristin Stark at Fairfax Associates.

  • What 3rd Circ. Niaspan Decision Means For Class Cert.

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    The Third Circuit's recent denial of class certification in the Niaspan antitrust case underscores its particularly stringent understanding of the implicit ascertainability requirement, which further fuels confusion in the courts, threatens uneven results and increases the risk of forum shopping, says Michael Lazaroff at Rimon Law.

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