A Delaware vice chancellor has created a stir with expansive opinion footnotes pushing back on the state Supreme Court's rejection of a controller's liability to stockholders after rechartering a business in more board-friendly Nevada, close on the heels of a bitter legislative debate over reworking Delaware corporate law.
Law360
Delaware
WEDNESDAY, MAY 28, 2025 Law360 iOS App Law360 Android App Follow Law360 on Facebook Follow Law360 on LinkedIn Follow Law360 on Twitter

TOP NEWS

Analysis

Chancery Footnotes Raise Post-SB 21 Stir In Delaware

By Jeff Montgomery

A Delaware vice chancellor has created a stir with expansive opinion footnotes pushing back on the state Supreme Court's rejection of a controller's liability to stockholders after rechartering a business in more board-friendly Nevada, close on the heels of a bitter legislative debate over reworking Delaware corporate law.

Opinion attached | Read full article » | Save to favorites »

Tesla Asks Delaware Justices To Slash $176M Class Atty Fee

By Jeff Montgomery

Attorneys for Tesla Inc. have told Delaware's Supreme Court that counsel for stockholders who secured a disputed $735 million in savings from director cash and options rollbacks deserve less than the $176.2 million fee awarded the team.

Brief attached | Read full article » | Save to favorites »

Expert Says DuPont Knew Of PFAS Risk At NJ Site

By George Woolston

A former U.S. Environmental Protection Agency policy adviser told a New Jersey federal court on Tuesday that E.I. du Pont de Nemours knew of the risk of "forever chemicals" and failed to disclose that risk to federal and Garden State regulators despite its obligation to do so.

Read full article » | Save to favorites »

BANKRUPTCY COURT

Nikola Creditors Ask To Examine Founder Over $100M Award

By Yun Park

The creditors committee in Nikola Corp.'s Chapter 11 case has asked a Delaware bankruptcy court for permission to conduct discovery on the company's founder to investigate whether he is dissipating personal assets that should be used to satisfy a $100 million arbitration award owed to the debtor.

Motion attached | Read full article » | Save to favorites »

DISTRICT COURT

Fortress' Power On VLSI Board Takes Spotlight At Trial's Start

By Dani Kass

Fortress Investment Group's head of intellectual property told a Texas federal jury Tuesday that his company's overlap with investment funds that run VLSI Technology and Finjan Holdings highlights its dedication to overseeing investors' best interests, not that Fortress controls the funds.

Read full article » | Save to favorites »

Citgo Auction Deadline Extended Amid Venezuela Debt Fight

By Caroline Simson

A Delaware federal judge agreed Tuesday to extend a crucial deadline in a forthcoming auction of Citgo's parent company to satisfy billions of dollars of Venezuelan debt, following a "monumental" ruling in New York partially shutting down parallel litigation by creditors outside the Citgo sales process.

Read full article » | Save to favorites »

LEGAL INDUSTRY

Trump's WilmerHale Order Struck Down In Forceful Decision

By Dorothy Atkins

A D.C. federal judge struck down President Donald Trump's executive order targeting WilmerHale in an impassioned opinion Tuesday, writing that Trump's entire order is unconstitutional, and "to rule otherwise would be unfaithful to the judgment and vision of the Founding Fathers!"

Decision attached | Read full article » | Save to favorites »

Feds Ask Justices To Lift Due Process Order For Migrants

By Julie Manganis and Chris Villani

The Trump administration on Tuesday asked the U.S. Supreme Court to halt a Massachusetts federal judge's order requiring the government to provide due process to deportees sent to countries where they have no ties, arguing that the ruling is "wreaking havoc" on the removal process.

2 documents attached | Read full article » | Save to favorites »

Atty Avoids Sanctions After Adding AI Hallucinations To Brief

By Lauraann Wood

A California attorney who represented a software company in a trade secret dispute will not be sanctioned for filing a brief that included two ChatGPT-hallucinated case citations under circumstances so unusual they "couldn't have been made up," an Illinois federal judge said Tuesday.

2 documents attached | Read full article » | Save to favorites »

ArentFox Schiff Says Workers' 'Antics' Should Get Suit Tossed

By Lauraann Wood

An Illinois federal judge handling age discrimination claims from two longtime former ArentFox Schiff LLP information technology contractors should permanently dismiss their lawsuit as a consequence for routinely destroying case evidence and discarding their mobile phones while the litigation has been pending, the firm says.

Motion attached | Read full article » | Save to favorites »

CFTC Member Speaks On Agency Exits: 'Not A Great Situation'

By Jessica Corso

Departing U.S. Commodity Futures Trading Commission member Christy Goldsmith Romero said Tuesday that a possible leadership void at the agency could do a "great disservice to regulation" at a time when Congress is thinking of handing the agency the keys to the cryptocurrency industry.

Read full article » | Save to favorites »

'I Need To Be Careful': Judge Wades Into Musk-Firm Conflict

By Jessica Corso

A New York federal judge questioned his authority to weigh in on Bernstein Litowitz Berger & Grossmann LLP's hiring decisions after it sought permission to employ a former U.S. Securities and Exchange Commission attorney who Elon Musk claims could disadvantage him in a shareholder lawsuit, asking the firm and Musk to brief him on what may be an issue of first impression.

Order attached | Read full article » | Save to favorites »

Trump, Ex-Copyright Head Duel Over Her Firing

By Adam Lidgett

Former U.S. Copyright Office director Shira Perlmutter on Tuesday said a Washington, D.C., federal judge should ignore the Trump administration's argument that her recent firing was legal, the latest salvo in her lawsuit against the federal government as she seeks to block her removal.

1 document attached | Read full article » | Save to favorites »

Trump To Pardon 'Chrisley' Stars Convicted Of Tax Evasion

By Anna Scott Farrell

President Donald Trump is planning to pardon reality TV stars Todd and Julie Chrisley, the Georgia duo sentenced to prison after being convicted of running a yearslong bank fraud scheme and dodging federal taxes, according to a post Tuesday on X by Trump's communications adviser.

Read full article » | Save to favorites »

Crypto Industry Urges CFTC Action On Perpetual Contracts

By Aislinn Keely

Derivatives marketplaces and cryptocurrency firms told the U.S. Commodity Futures Trading Commission that setting rules for so-called perpetual derivatives would bring significant crypto trading activity onshore, but the regulator will have to contend with round-the-clock trading, novel risks and characteristics that don't fit neatly into existing classifications.

Read full article » | Save to favorites »

Tort Report: 'High-Low' Deal Nets Plaintiff Extra $10M

By Y. Peter Kang

A last-minute "high-low" agreement that turned out to be a stroke of genius by lawyers for an injured motorcyclist and a $26 million verdict for a crash caused by a postal worker lead Law360's Tort Report, which compiles recent personal injury and medical malpractice news that may have flown under the radar.

Read full article » | Save to favorites »

Calif. Bar Seeks More Remedies After Problematic Feb. Exam

By Emily Sawicki

The state bar of California has formally asked the state Supreme Court to approve measures including a limited provisional licensure program and a more direct pathway to admission for out-of-state attorneys, in the state bar's latest attempt to seek equitable remedies amid the fallout from the bungled February 2025 California bar exam.

1 document attached | Read full article » | Save to favorites »

Titan Of The Plaintiffs Bar: Slater Slater's Adam Slater

By Jonathan Capriel

Securing multibillion-dollar settlements against major institutions like the Boy Scouts and Catholic dioceses on behalf of thousands of victims who were sexually assaulted as children has become Adam Slater's life work, but at least some of the skills he's used to secure this monetary justice come from his years as a poker player.

Read full article » | Save to favorites »

Promo that reads Law360 Pulse Summer Associates Survey Promo that reads Law360 Pulse Lawyer Satisfaction Survey

LAW FIRMS IN TODAY'S NEWS

Abrams & Bayliss

Akerman LLP

ArentFox Schiff

ArentFox Schiff LLP

Bayard PA

Bernstein Litowitz

Bleichmar Fonti

Brown Rudnick

Cadwalader Wickersham

Clement & Murphy

Covington & Burling

Cravath Swaine

Curtis Mallet-Prevost

DLA Piper

Dema Law

Eimer Stahl

Farrar & Ball

Fields Kupka

GCA Law Partners

Gibson Dunn

Gillam Smith

Heyman Enerio

Hollingsworth LLP

Irell & Manella

Irwin IP

Jackson Lewis PC

Jenner & Block

Kaster Lynch

Kelley Drye

Kirkland & Ellis

Latham & Watkins

MT2 Law Group

McCarter & English

Milbank LLP

Morris James

Morris Nichols

Morrison Foerster

Munger Tolles

Norris McLaughlin

Norton Rose

Panish Shea

Paul & Perkins

Paul Weiss

Perkins Coie

Pillsbury Winthrop

Potter Anderson

Quinn Emanuel

Richards Layton

Skadden Arps

Slater Slater

Sullivan & Cromwell

Susman Godfrey

Taft Stettinius

Tolpin & Partners

Weil Gotshal

Willkie Farr

WilmerHale

Womble Bond

COMPANIES IN TODAY'S NEWS

3M Co.

Binance Holdings Ltd.

Boy Scouts of America

CITGO Petroleum Corp.

CME Group Inc.

Citadel Securities LLC

Coinbase Global Inc.

Contrarian Capital Management LLC

Crystallex International Corp

Dell Technologies Inc.

Democracy Forward Foundation

DuPont de Nemours Inc.

Finjan Holdings Inc.

Fortress Investment Group LLC

Gold Reserve Inc

Griffith Co.

Human Rights First

Intel Corp.

Life Fitness Inc.

Lyft Inc.

Nikola Corp.

State Bar of California

Tesla Inc.

The Chemours Co.

TripAdvisor Inc.

Twitter Inc.

USA Network

University of Arkansas

Vitol Inc.

XPO Logistics

GOVERNMENT AGENCIES IN TODAY'S NEWS

Commodity Futures Trading Commission

Delaware Court of Chancery

Delaware General Assembly

Executive Office of the President

Library of Congress

New Jersey Department of Environmental Protection

Patent Trial and Appeal Board

U.S. Bankruptcy Court for the District of Delaware

U.S. Copyright Office

U.S. Court of Appeals for the Fifth Circuit

U.S. Department of Homeland Security

U.S. Department of Justice

U.S. District Court for the District of Columbia

U.S. District Court for the District of Delaware

U.S. District Court for the District of Massachusetts

U.S. District Court for the District of New Jersey

U.S. District Court for the Northern District of Illinois

U.S. District Court for the Southern District of New York

U.S. District Court for the Western District of Texas

U.S. Environmental Protection Agency

U.S. Immigration and Customs Enforcement

U.S. Patent and Trademark Office

U.S. Postal Service

U.S. Securities and Exchange Commission

U.S. Supreme Court