An Oklahoma couple claim they lost $335,000, which they invested in the alleged Ponzi scheme run by now-bankrupt Woodbridge Group LLC just before the company collapsed, on the word of an unlicensed investment adviser working for their accounting firm.
The founders of pet insurance business Fetch Inc. filed suit in Delaware Chancery Court seeking to rescind an amended deal with an underwriter, claiming it is bad for the business and was made after investor groups led by prominent businessman Vernon W. Hill II and hedge fund billionaire Steven Cohen failed to secure required approval.
Former executives at zinc producer American Zinc Recycling LLC urged a Delaware federal court Thursday to reject a magistrate judge's recommendation to keep alive investors’ suit over alleged misrepresentations that inflated stock prices, saying the judge ignored the substance of their dismissal bid.
Delaware lawmakers caused a small stir earlier this month when they confirmed two veteran female attorneys to the state’s Court of Chancery, expanding the nationally important court by two seats while roughly closing the gender gap among its now-seven members for the first time.
A J.C. Penney Co. Inc. stockholder opened a derivative, class suit against the retailer’s directors and top officers in Delaware’s Chancery Court late Friday, alleging fiduciary duty breaches in connection with its retail pricing practices.
A Delaware bankruptcy judge on Friday delayed release of a $275 million reserve to Energy Future Holdings Inc.’s creditors pending a Third Circuit decision whether to reconsider its ruling that EFH should be freed from paying a termination fee after its deal to sell NextEra Energy Inc. its share of a power distribution system fell apart.
The Trump administration asked the Ninth Circuit on Friday to lift a nationwide ban on new rules that exempt employers with moral or religious objections from providing birth control coverage otherwise required by the Affordable Care Act, saying employers’ First Amendment rights should trounce procedural requirements for passing the new regulations.
The U.S. Department of Justice has recently taken aggressive steps to augment government oversight and insert itself into the planning process for the asbestos bankruptcy trust system, heeding calls from state attorneys general and corporate America for greater transparency in how trusts are run.
A battle is brewing in the litigation over The Woodbridge Group of Companies’ Chapter 11 plan concerning the pro hac vice admission in Delaware of an attorney representing a group of noteholders who oppose the plan, as unsecured creditors claim he violated ethical rules by not properly disclosing conflicts that exist among his clients.
A Delaware federal judge tossed a lawsuit filed by Bristol-Myers Squibb Co. and Pfizer Inc. seeking to block Mylan Pharmaceuticals Inc. from making a generic version of their patented blood thinner Eliquis, finding on Thursday that the suit was filed in the wrong venue in light of the U.S. Supreme Court's TC Heartland ruling.
Shareholders of medical technology firm Miramar Labs Inc. and eight of the company’s shareholders filed a stipulation of settlement Thursday in Delaware Chancery Court that calls for $118,500 in plaintiff attorneys' fees and expenses in a $410,000 settlement that seeks to bring an end to the investors’ suit over a $20 million merger with Sientra Inc. in 2017.
Citibank has told a Florida federal judge that a controlling shareholder in a Chilean wine company ordered to pay a $28.7 million arbitration award to a Delaware investor for breaching a stock repurchase agreement has about $96,600 in cash across several accounts subject to garnishment, plus shares in a handful of companies.
An investor in CafePress, an online retailer selling customized products, filed a proposed class action Wednesday in Delaware federal court alleging the company misled and ultimately may have shortchanged stockholders leading up to its recommended merger with online printing giant Snapfish.
The Third Circuit on Wednesday refused to stop the deportation of a Dominican citizen and longtime U.S. resident, upholding an immigration judge’s finding that the man’s counterfeiting conviction counted as an aggravated felony under immigration law.
The Third Circuit on Tuesday denied a Russian native’s petition for a new bond hearing in his ongoing immigration detention case as he awaits possible deportation to potentially face criminal fraud charges in Russia that he contends were filed in retaliation for his political opposition to President Vladimir Putin.
Pointing to unchecked, "erratic" behavior by Tesla founder Elon Musk and board failures to head off recent, costly consequences, a company shareholder launched a derivative suit in Delaware’s Chancery Court on Wednesday, seeking damages and governance reforms.
The Federal Trade Commission's power to punish past conduct involving consumer fraud or anti-competitive shenanigans is looking wobbly after a one-two punch of court decisions forcing the agency to also identify imminent or ongoing violations when it challenges prior behavior.
After an emotionally fraught confirmation process with sexual misconduct allegations front and center, a new justice joins the Supreme Court bench and brings four female clerks with him. The hires bring gender parity to the court's clerkship ranks for the first time, but will the shift be long-lasting?
Papa John’s pizza chain founder John Schnatter’s “unbounded” demands for company records in a Delaware Chancery Court suit and alleged intent to use the results in future personal litigation against the company justify denial or heavy pruning of disclosures, company attorneys said late Tuesday.
Sporting goods retailer Cabela’s LLC told a Delaware Chancery Court judge Wednesday that a group of former employees should be enjoined from launching a competing website in an apparent breach of employment agreements that bar use of the company’s confidential information.
The process of applying for litigation financing isn’t difficult, but few do it right the first time. Following five steps in your application process will help make sure litigation funders are convinced of the value of your company's legal claims, says Molly Pease of Curiam Capital LLC.
Over the last two decades, the U.S. Environmental Protection Agency’s efforts to address interstate air pollution under the Clean Air Act have yielded a series of complex federal regulatory programs. However, it's now signaling a method that involves greater deference to states’ analyses and determinations, says Norman Fichthorn of Hunton Andrews Kurth LLP.
In an era when law firms are fighting for business and clients can dictate the terms of the relationship, "value" has become a moving target. Firms that take a proactive approach by using strategies designed to articulate value over time will gain the competitive advantage, says Dan Tacone at Intapp Inc.
In this monthly series, Amanda Brady of Major Lindsey & Africa interviews management from top law firms about the increasingly competitive business environment. Here we feature Pier D'Angelo, chief pricing and practice officer at Allens.
There are several tools at the disposal of state policymakers — particularly within their state tax codes — to help alleviate some of the financial pressure families face when living at or near the poverty level, say Aidan Davis and Misha Hill of the Institute on Taxation and Economic Policy.
In the two years since the American Bar Association's controversial anti-discrimination and harassment rule, only one state has adopted it, while numerous state supreme courts, state attorneys general and legal groups have correctly rejected Model Rule 8.4(g) as a threat to lawyers' First Amendment rights, says Bradley Abramson, an attorney with Alliance Defending Freedom.
Until Vice Chancellor J. Travis Laster’s decision this month in Akorn v. Fresenius, no Delaware court had released a buyer from its obligation to close a transaction as a result of a material adverse effect or change. But we expect the conventional wisdom to continue to hold true — that it is extremely difficult for an acquirer to establish the occurrence of a MAC, say attorneys with Cleary Gottlieb Steen & Hamilton LLP.
In the aftermath of Justice Brett Kavanaugh's confirmation, the U.S. Supreme Court should decline review of the nation's most polarizing political questions unless and until the questions become time-sensitive, says Alexander Klein, head of the commercial litigation group at Barket Epstein Kearon Aldea & LoTurco LLP.
Legal departments have been slow to adopt artificial intelligence and automation solutions for the sort of mundane tasks attorneys dread. But such tools can make legal teams more efficient and accurate, allowing members to focus on big-picture challenges and mission-critical strategies, says Rebecca Yoder of Docusign Inc.
In this series featuring law school luminaries, Boston College Law School professor Kent Greenfield reflects on his corporate law theories, his legal battle with the Pentagon over free speech and gay rights, and important constitutional law issues to watch out for.