A Delaware federal judge on Tuesday approved a $5.892 billion bid from hedge fund Elliott Investment Management LP to purchase shares in Citgo's parent company and satisfy billions of dollars' worth of Venezuelan debt, moving a step closer to ending the long-delayed sale.
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WEDNESDAY, NOVEMBER 26, 2025 Law360 iOS App Law360 Android App Follow Law360 on Facebook Follow Law360 on LinkedIn Follow Law360 on Twitter

TOP NEWS

Delaware Judge Accepts $5.89B Bid For Control Of Citgo

By Caroline Simson

A Delaware federal judge on Tuesday approved a $5.892 billion bid from hedge fund Elliott Investment Management LP to purchase shares in Citgo's parent company and satisfy billions of dollars' worth of Venezuelan debt, moving a step closer to ending the long-delayed sale.

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Chancery Won't Block Sale In 'War Dogs' Figure Loan Dispute

By Jarek Rutz

A Delaware Chancery judge declined to allow a real estate investor to lift a disputed second mortgage blocking the sale of a distressed Oklahoma apartment complex in a dispute with a hard-money lender the investor says is run by the convicted fraudster whose story was dramatized in the movie "War Dogs."

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DoorDash Gets Ameranth's Menu Patent Axed By Alice

By Elliot Weld

A Delaware federal judge has dismissed a case brought by Ameranth Inc. against DoorDash Inc. claiming infringement of its online-ordering patent, saying it merely describes an abstract idea that is not eligible for a patent.

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Del. Supreme Court Backs FloSports In Records Fight

By Jarek Rutz

A fight among siblings over access to corporate records ended with the Delaware Supreme Court affirming that three stockholders of sports streaming platform FloSports Inc. failed to follow the procedural steps required under the Delaware General Corporation Law.

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POLICY & REGULATION

Democrats Seek Documents On Emil Bove's DOJ Tenure

By Courtney Bublé

Senate Democrats are turning to public records requests to learn more about the controversial tenure of U.S. Circuit Judge Emil Bove while he served at the U.S. Department of Justice, claiming that they're being "stonewalled" by the department.

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HUD Housing Aid Limits Will Drive Homelessness, States Say

By Rachel Riley

Washington and 19 other states launched a lawsuit Tuesday against the U.S. Department of Housing and Urban Development in Rhode Island federal court, seeking to stop abrupt policy changes they claim will result in tens of thousands of formerly homeless people being ousted from publicly subsidized housing and onto the streets.

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COURT OF CHANCERY

Insurance Broker Says Competitor Stole Employees, Clients

By Hope Patti

The parent company of insurance brokerage Trucordia told the Delaware Chancery Court on Monday that it has lost more than $2.5 million in annual commission revenue because a Florida-based competitor is trying to poach Trucordia's employees and clients in coordination with a former insurance producer and current equity holder.

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Healthcare Software Founders Sue In Del. For Sale Details

By Jeff Montgomery

A couple who sold their healthcare software business to an interest of Elevate RCM Holdings LLC before the buyer allegedly resold it for a reported $1 billion sued for company records in Delaware's Court of Chancery late Monday, seeking documents needed to confirm the deal's fairness.

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BANKRUPTCY COURT

Nicklaus Golf Co. Gets OK For $10M Ch. 11 Loan

By Rick Archer

A Delaware bankruptcy judge Tuesday gave sporting gear and golf course design company Nicklaus Cos. permission to tap $10 million in Chapter 11 financing, even though counsel for founder and pro golf legend Jack Nicklaus said he was disputing the bulk of the company's debts.

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New Complaint Says Ex-Execs Turned Steward Into 'Zombie'

By Rick Archer

Bankrupt hospital operator Steward Health has filed hundreds of millions in new claims in Texas bankruptcy court against its former CEO and other executives, including allegations that they orchestrated a sale-leaseback deal that rendered the business an insolvent "zombie."

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Judge Gives Conditional OK To American Signature DIP Plan

By Emlyn Cameron

A Delaware bankruptcy judge said Tuesday that she will approve home furnishing retailer American Signature Furniture's bid for interim approval of post-petition financing, after giving a mixed response to objections from the Office of the U.S. Trustee.

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THIRD CIRCUIT

3rd Circ. Restores NCAA Junior-College Eligibility Rule

By Matthew Santoni

An NCAA rule that includes junior colleges when determining a college athlete's eligibility is a "commercial" restriction, but a Rutgers University football player must go back to court and define the market for his labor if he wants to argue the rule violates antitrust law, the Third Circuit said Tuesday.

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3rd Circ. Backs Pa. City's Win In Worker's Sex Bias Suit

By P.J. D'Annunzio

The Third Circuit has declined to reinstate a former Reading, Pennsylvania, mayor's office employee's sexual discrimination claim against the city, rejecting her argument that an investigation into her after reporting alleged harassment by a male colleague was a pretext for firing her later.

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EXPERT ANALYSIS

Considerations When Invoking The Common-Interest Privilege

To successfully leverage the common-interest doctrine in a multiparty transaction or complex litigation, practitioners should be able to demonstrate that the parties intended for it to apply, that an underlying privilege like attorney-client has attached, and guard against disclosures that could waive privilege and defeat its purpose, say attorneys at DLA Piper.

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LEGAL INDUSTRY

Bonus Spotlight

Weil Matches Year-End And Special Bonuses For Associates

By Anna Sanders

Weil Gotshal & Manges LLP on Tuesday joined a cadre of other firms in matching the BigLaw standard for this year's associate bonuses.  

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Judges Decline Invites To Senate Hearing On Impeachment

By Courtney Bublé

Two federal judges, both of whom Republicans are looking to impeach, declined to testify before the U.S. Senate Judiciary Committee's hearing next week on the impeachment of "rogue" judges, a source familiar with the situation told Law360 on Tuesday.

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DOJ Official Sues Over Firing For Epstein Talk On Hinge 'Date'

By Alison Knezevich

A longtime official at the U.S. Department of Justice who was fired after he was secretly recorded discussing the Epstein files has sued the agency and U.S. Attorney General Pam Bondi in D.C. federal court.

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$255K In Fees To Google For 'Frivolous' Ramey Case Upheld

By Ryan Davis

The Federal Circuit on Tuesday affirmed a California judge's decision that a client of embattled intellectual property firm Ramey LLP must pay nearly $255,000 in fees and sanctions for bringing a "frivolous" patent suit against Google, finding the award to be "entirely proper."

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Fla. Law Student Expelled For Antisemitic Post To Be Reenrolled

By David Minsky

A Florida federal judge has ordered the reinstatement of a law school student who was expelled after he was investigated over antisemitic posts on social media, saying the university didn't prove his speech "constituted a true threat." 

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Texas Law Firm, Atty Reach Tentative Deal In Age Bias Suit

By Rose Krebs

An attorney who sued a Houston-based law firm alleging she was fired in retaliation for having complained about age discrimination has reached "a tentative agreement" to resolve the matter, according to a filing in Illinois federal court.

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Husch Blackwell Blasts Ex-Firm Atty's ERISA Suit

By James Boyle

A former Husch Blackwell LLP partner's claim that the firm violated federal law by withholding monthly retirement account contributions misidentified the funds in question as participant contributions, when they were, in fact, contributions from the firm's year-end profit-sharing program.

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LAW FIRMS IN TODAY'S NEWS

Bellew LLC

Chipman Brown

Cohen & Gresser

Cravath Swaine

Curtis Mallet-Prevost

DLA Piper

Dickie McCamey

Disparti Law Group

Eimer Stahl

Esbrook PC

Gibson Dunn

Greenberg Traurig

Heyman Enerio

Holland & Knight

Holwell Shuster

Husch Blackwell

Jackson Lewis PC

Kirkland & Ellis

Marino Tortorella

Mark S. Zaid PC

Marshall Dennehey

McNees Wallace

Milbank LLP

Morris Nichols

Munger Tolles

Norton Rose

Nutter McClennen

Pachulski Stang

Perkins Coie

Potter Anderson

Quinn Emanuel

Ramey LLP

Reid Collins

Richards Layton

Ropes & Gray

SBSB Eastham

Sabatini Law Firm PA

Sanford Heisler

Schaerr Jaffe

Skadden Arps

Stamoulis & Weinblatt

Stearns Weaver

Vinson & Elkins

Weil Gotshal

Wilkinson Stekloff

Womble Bond

COMPANIES IN TODAY'S NEWS

Ameranth Inc.

Audax Private Equity

CITGO Petroleum Corp.

Caterpillar Inc.

Cerberus Capital Management LP

ConocoPhillips Co.

Corning Inc.

Crystallex International Corp

DoorDash Inc.

Dow Inc.

Edgewater Funds

Elevate Patient Financial Solutions Inc.

Elliott Investment Management LP

Emigrant Bank

FloSports Inc.

Fresh Del Monte Produce Inc.

Gold Reserve Inc

Google LLC

GrubHub Inc.

Harvard University

HealthCare Partners LLC

Medical Properties Trust Inc.

National Collegiate Athletic Association

Netflix Inc.

Nidec Corp.

PGA TOUR Inc.

Papa John's International Inc.

Starbucks Corp.

Steward Health Care System LLC

Value City Furniture Inc.

YouTube Inc.

GOVERNMENT AGENCIES IN TODAY'S NEWS

Delaware Court of Chancery

Equal Employment Opportunity Commission

Office of Foreign Assets Control

U.S. Bankruptcy Court for the District of Delaware

U.S. Court of Appeals for the Federal Circuit

U.S. Court of Appeals for the Second Circuit

U.S. Court of Appeals for the Third Circuit

U.S. Department of Housing and Urban Development

U.S. Department of Justice

U.S. Department of the Treasury

U.S. District & Bankruptcy Courts of Southern District of Texas

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 Maryland

U.S. District Court for the District of Rhode Island

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

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

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

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 Missouri

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

U.S. Senate

U.S. Supreme Court

Washington Attorney General's Office