A pension fund stockholder of DeVry University Group sued the for-profit educational organization, six directors and its former CEO in Delaware state court Friday, saying the defendants had breached their financial duties by allowing deceptive marketing that cost the organization more than $100 million in regulatory penalties.
The nation’s largest rare earth mine took a long but tentative step back from the dead Friday after receiving Delaware bankruptcy court approval of a $20.5 million cash deal for Molycorp Minerals LLC that also covered more than $100 million of potential environmental liabilities.
R.J. Reynolds Tobacco Co. told a Delaware chancellor on Friday that ITG Brands LLC relied on tortured contract readings to support claims that time ran out on ITG’s duty to pursue and assume a $30 million yearly payment obligation to Florida to offset harms from tobacco sales.
The sides in the lawsuit over Providence Service Corp.’s $400 million purchase of Matrix Medical Group told the Delaware Chancery Court on Friday they’d resolved the dispute with a settlement that would see $10 million, minus attorneys’ fees and expenses, paid to the investor class that challenged the deal.
A request from shareholders of bomb detection hardware maker Implant Sciences to retain a solicitation agent for the company’s proposed Chapter 11 plan failed to receive court approval Friday in Delaware because the court determined the services were unnecessary.
A request by a recently formed committee of equity security holders to delay the confirmation hearing in the Chapter 11 case of offshore oil services firm Tidewater Inc. gained court approval Friday in Delaware, allowing the committee nearly three weeks of extra time to do its work.
A shareholder in Puda Coal Inc. asked the Delaware Chancery Court on Thursday to appoint a receiver for the defunct China-based company that was recently hit with a $228 million judgment in New York federal court, arguing the company has a history of disregarding court orders.
Agents for the former shareholders of a pharmaceutical company acquired by an affiliate of AstraZeneca PLC filed suit Thursday in Delaware state court seeking the payment of $275 million they allege is owed from the 2013 merger of the two companies.
A trio of Synutra shareholders slapped the Chinese baby formula company with a suit in Delaware Chancery Court Thursday, urging the court to appraise their shares in the company at the time of its private sale to its largest shareholder and force it to pay them appropriately.
Both the Implant Sciences bankruptcy estate and the U.S. Trustee’s Office balked Thursday at the official equity committee’s bid to hire a consultant as its own solicitation agent for the bomb detection firm’s Chapter 11 plan, a measure the debtor and watchdog argue is unreasonable.
Optima Specialty Steel Inc.’s Chapter 11 plan drew an objection Thursday from the U.S. Department of Labor, based on agency findings that some terms of the plan violate or could violate the Employee Retirement Income Security Act.
Offshore marine services company Tidewater Inc. on Wednesday asked the Delaware bankruptcy court to deny a newly formed official equity holders committee’s request to adjourn a June 28 plan confirmation hearing, saying it's an unnecessary delay that could spook its foreign creditors.
Pointing to an auction result 17 times higher than the minimum cash offer, a trustee for bankrupt Molycorp Minerals LLC is urging a Delaware judge to approve the rare earth mine site’s $20.5 million sale to an investor group and set aside remaining objections.
Bankrupt telecommunications holding company MIG LLC on Thursday received court approval in Delaware for a private asset sale, with the debtor set to receive $72 million in cash in exchange for its assets and the equity of related debtor ITC Cellular LLC.
Justice Sonia Sotomayor discusses her views on writing dissents and the change she hopes they inspire in the law, in the second of two articles based on an exclusive interview with the 111th justice.
An informal court dispute over a competitor’s disclosure demands in the Chapter 11 sale of wearable drug injection device-maker Unilife Corp. escalated Wednesday, with a Delaware judge ordering formal submissions from all sides.
A group of The Fresh Market Inc. shareholders received class certification Wednesday in a Delaware state court suit over the company's $1.4 billion acquisition by Apollo Global Management LLC after pushing for a prompt decision on class status.
Toshiba and Intellectual Ventures stipulated Tuesday that they have settled a case in which a Delaware federal jury in January found that the technology giant hadn't induced infringement of a patent covering an adapter that allows a handheld computer to communicate with multiple attached devices.
Two Altor Bioscience Corp. investors sued billionaire physician Patrick Soon-Shiong, NantCell Inc. and others in Delaware's Chancery Court on Wednesday, seeking to block what they said was an insider-led, lowball deal to sell Altor to NantCell for a fraction of its value.
Akamai Technologies Inc. told the Delaware Supreme Court on Wednesday that a misaddressed email to terminate a patent settlement means longtime rival Limelight Networks Inc. cannot escape the $40 million in remaining payments.
The U.S. Supreme Court's TC Heartland decision may be felt strongly in the Districts of New Jersey and Delaware, which are home to more than 75 percent of Hatch-Waxman cases. Brands and generics alike will be faced with important, strategic decisions that may reshape the landscape of Hatch-Waxman litigation in the years to come, says Mark Deming of Polsinelli PC.
The Delaware Chancery Court’s recent decision in SWS Group raises the question whether below-the-merger-price appraisal results will now become more common. A number of commentators have suggested that the answer is yes, but their conclusion follows what we believe to be a misconception, say attorneys with Fried Frank Harris Shriver & Jacobson LLP.
In a case of first impression, the Delaware Chancery Court recently rejected a venture capital firm’s effort to ratify an amendment to a company’s charter that would have forced its founder out of the company. Nguyen v. View highlights the need for both sides to carefully negotiate the voting agreements that establish parties’ roles in guiding the future of a company, say Matthew Rifino and Philip Amoa of McCarter & English LLP.
The guessing game around Justice Anthony Kennedy’s possible retirement is reaching a crescendo. Yet the speculation does more than fuel bookmakers’ odds. It draws attention to his pivotal role as the court’s swing vote, says Nan Aron, president of Alliance for Justice.
The American patent system has been weakened by recent court decisions and unintended consequences of the post-issuance proceedings at the U.S. Patent and Trademark Office. That is why I introduced the STRONGER Patents Act on Wednesday, says Sen. Chris Coons, D-Del.
One way to combat juror confusion and boredom is to allow jurors to ask witnesses questions. No federal evidentiary or court rule prohibits it, and every federal circuit court to address the practice has held it permissible, say Stephen Susman, Richard Lorren Jolly and Dr. Roy Futterman of the NYU School of Law Civil Jury Project.
Last month, the American Bar Association published revised guidance regarding an attorney’s duty to protect sensitive client material in light of recent high-profile hacks. The first step in compliance is understanding how your data is being stored and accessed. There are three key questions you should ask your firm’s information technology staff and/or external solution vendors, says Nick Holda of PreVeil.
One of the easiest ways to improve civil jury trials is to give juries substantive instructions on the law at the beginning of the trial rather than at its conclusion. It is also one of the most popular proposals we are recommending, say Stephen Susman, Richard Lorren Jolly and Dr. Roy Futterman of the NYU School of Law Civil Jury Project.
Lateral candidates looking to make the last — or perhaps only — move of their career cannot afford to just stand by and let a law firm’s vetting process unfold on its own, says Howard Flack, a partner at Volta Talent Strategies who previously led lateral partner recruiting and integration at Hogan Lovells.
One frequently hears from leading malpractice insurers that one of the highest risk categories for law firms is that of lateral partners not sufficiently vetted during the recruitment process, says Howard Flack, a partner at Volta Talent Strategies Inc. who previously led lateral partner recruiting and integration at Hogan Lovells.