A Nimble Storage Inc. investor who sued the company for more details about its now-completed acquisition by Hewlett Packard Enterprise Co. dropped his suit on Wednesday, saying Nimble filed the information he sought with the U.S. Securities and Exchange Commission, but he'll continue to seek legal fees.
A director at a small educational-software company alleging another director improperly pocketed much of the proceeds from the business's sale saw his claims thrown out Wednesday, after a Delaware Chancery Court said the suit did not meet the state’s tough standards for allegations targeting directors.
A Texas federal jury on Tuesday found a self-described "black hat search engine optimizer" guilty of retaliating against a Dallas-based mergers & acquisitions advisory firm by posting negative online reviews, after he had been sentenced to federal prison last year for extorting money from the firm by threatening to post them.
Harman International Industries Inc. agreed Wednesday to pay $28.25 million to settle shareholder allegations that the automotive technology company inflated its stock price ahead of an ultimately failed private equity merger, putting an end to the litigation after nearly a decade.
A Pennsylvania state judge Tuesday threw out a legal malpractice suit accusing Duane Morris LLP of botching a client’s appeal in a case over the collapse of a $175 million deal to acquire a submarine fiber optic network.
Cypress Semiconductor Corp. has roughly a week to turn over a slew of documents requested by its founder, Delaware’s Chancery Court ruled Monday, saying his concerns about Cypress’s recently appointed executive chairman also working at a rival private equity company were well-founded.
Stockholders who branded as inadequate Windstream Holdings Inc.’s disclosures about a 2015 real estate investment trust spinoff won class certification Monday in Delaware’s Chancery Court, in a decision that also extended class status to holders of eligible stock even after transfers or reassignment.
A New Jersey state appeals court on Thursday rejected claims from an African-American-owned TV production firm and an advocacy group that a state agency should have investigated racial discrimination issues before approving the merger of Time Warner Cable and Charter Communications without such concerns being previously raised.
The European Union’s competition authority on Friday cleared 21st Century Fox Inc.’s $14.4 billion takeover of Sky plc without conditions, saying it did not foresee any antitrust concerns arising from the transaction in Europe.
British American Tobacco plc on Wednesday secured the clearance it needed to proceed with its $49 billion takeover of Reynolds American Inc., as Japan’s antitrust regulator gave the deal the green light.
ChemChina and Syngenta AG on Tuesday agreed to divest certain pesticide units as part of a settlement with the Federal Trade Commission, a week before the European Commission makes its own antitrust determination, as the Chinese company looks to finalize its $43 billion purchase of the Swiss agrochemical company.
A stockholder suit that accused software company directors of setting up a “tragic” and coercive no-choice vote to either approve a depressed-price merger or hold deregistered, illiquid securities moved ahead Friday after a vice chancellor declined to dismiss a fiduciary breach claim.
The Delaware Supreme Court rejected Friday a bid from C&J Energy Services Inc. shareholder who challenged the $2.9 billion merger with Nabors Industries Ltd. to reargue the case after both the Chancery Court and the First State’s high court dismissed their claims.
In a rare split decision, Delaware's Supreme Court on Thursday rejected a bid by The Williams Cos. to salvage what was once a $38 billion merger with Energy Transfer Equity, despite evidence favoring claims that ETE had breached a duty to make all commercially reasonable efforts to close.
The Delaware Supreme Court on Thursday upheld the Chancery Court's decision to throw out a shareholder lawsuit challenging C&J Energy Services Inc.'s $2.9 billion merger with Nabors Industries Ltd., ruling that despite the stockholders' "far better" arguments on appeal, they still hadn't convinced the panel to reverse.
The U.S. Securities and Exchange Commission said Thursday it filed and settled claims against a Pennsylvania man who allegedly earned $60,000 by trading on a family member’s inside information about Merck & Co. Inc.’s 2014 acquisition of Idenix Pharmaceuticals Inc.
An Illinois federal judge on Thursday laid out his reasons for entering the injunction that killed a proposed merger between two Chicago healthcare systems last month, borrowing much of the Seventh Circuit’s analysis of the Federal Trade Commission's case to conclude that the combined systems would monopolize the city’s northern suburbs.
A collection of insurance companies must cover Verizon and GTE for the $48 million they spent defending themselves against a $14 billion shareholder suit over an allegedly debt-laden spinoff, a Delaware court has ruled.
Gilead Sciences Inc. defeated a merger partner’s $50 million cancer-drug bonus demand after a Delaware Chancery Court ruled Wednesday that the Calistoga Pharmaceuticals Inc. compound involved never won the broad approval needed to qualify for the post-merger payment.
Fox Rothschild LLP dodged allegations on Friday that an attorney filed a frivolous bankruptcy petition in order to stave off a trial a client was facing in Pennsylvania state court over an aborted merger involving a Philadelphia-area travel agency.
Catch up if you missed last week's special series spotlighting general counsel at four firms and the issues they encounter in an increasingly complex legal environment.
When Violin Memory filed Chapter 11 in December, prospects for the company seemed grim. But the combination of rival offer methods and special process features resulted in an auction that exceeded all expectations, says Sheon Karol of The DAK Group.
In a recent Law360 guest article, two members of the plaintiffs bar contended that Delaware’s materiality standard for corporate disclosure has become more corporate-friendly in recent years. But a closer inspection reveals that Delaware law remains focused on providing a fair balance between individual stockholder rights and the avoidance of frivolous litigation, say attorneys with Sidley Austin LLP.
A 1979 study of attorney-client interactions revealed startling information: Despite years of education and training to hone their legal expertise, attorneys were not acting as independent counselors but rather allowing their clients to control them. Our experience is that this trend has accelerated, say dispute resolution experts Robert Creo and Selina Shultz.
Theoretically, both better data and its better use should be able to improve results in litigation, and thus help litigation financiers allocate more capital to meritorious matters. However, while big data and artificial intelligence are intriguing additions to the litigation toolkit, they are far from turning litigation finance on its head, says Christopher Bogart, CEO of Burford Capital LLC.
It's no longer enough for law firms simply to provide expert legal advice — we are expected to mirror clients' legal, ethics and social commitments and promises. For law firm GCs, the resulting job demands seem to grow exponentially, says Peter Engstrom, general counsel of Baker McKenzie.
Increasingly, we see companies in all industries seeking to perform various levels of due diligence on our information security defenses. We received three times as many diligence requests from clients and prospective clients in 2016 as we did in 2015. Some clients even conduct their own penetration tests, says Thomas White, general counsel of WilmerHale.
What happens when attorneys come to their general counsel’s office with knowledge of a potential positional conflict? While the inquiry will depend on the rules governing the particular jurisdiction, there are a few general questions to consider from both business and legal ethics perspectives, say general counsel Nicholas A. Gravante Jr. and deputy general counsel Ilana R. Miller of Boies Schiller Flexner LLP.
Saba Software Stockholder Litigation may be the first case in which the Delaware Chancery Court has declined to apply “cleansing” under Corwin, but the decision confirms the recent trend that Corwin cleansing of noncontroller stockholder-approved transactions is likely to be precluded only in unusual and egregious circumstances, say attorneys with Fried Frank Harris Shriver & Jacobson LLP.
Regardless of where we live and practice, regardless of whether trade deals succeed or fail, and regardless of whether the movement of people or capital is easy or difficult, our clients will still have needs or problems far away from home, says John Koski, global chief legal officer at Dentons.