Delaware

  • March 13, 2024

    Juul Investor Tells Chancery: 'We Were Trying To Help'

    A director of Juul Labs Inc. denied on Wednesday that he kept the company out of bankruptcy in 2022 to profit from his own investments, telling Delaware's Chancery Court that he helped Juul refinance and backstopped millions worth of settlements because he wanted the e-cigarette company to succeed.

  • March 13, 2024

    NYC Condo Developer's Ch. 11 Liquidation Plan Gets OK

    A Delaware bankruptcy judge on Wednesday approved the Chapter 11 liquidation plan of 540 West 21st St. Holdings LLC, the developer of a scrapped luxury condo project in New York City's West Chelsea neighborhood, overruling an objection from the managers of a neighboring building.

  • March 13, 2024

    FERC Can't Change Power Auction Results, 3rd Circ. Rules

    The Third Circuit has wiped out the Federal Energy Regulatory Commission's tweak to the results of an electricity capacity auction run by the nation's largest regional grid operator, saying it amounted to retroactive rate-making in violation of the filed-rate doctrine.

  • March 13, 2024

    Tesla Investors Weigh In On $5B Fee Proposed For Class Attys

    Tesla Inc. stockholders are sounding off to Delaware's chancellor after class attorneys sought a stock-based fee potentially worth more than $5 billion at current share prices following the Court of Chancery's reversal of Elon Musk's $55.8 billion stock-based pay plan on Jan. 30.

  • March 12, 2024

    Terraform Can Retain Dentons In Ch. 11, Firm Will Return $48M

    Terraform Labs can hire Dentons US LLP as its special counsel in its Chapter 11 case, a Delaware federal bankruptcy judge ruled Tuesday, with the firm agreeing to return $48 million of a $70 million retainer that was hit with objections.

  • March 12, 2024

    Bolt Financial's Chairman Is Controlling Board, Suit Says

    Stockholders of Bolt Financial Inc. on Monday updated their derivative complaint against the company's board of directors, alleging chairman, controlling shareholder and former CEO Ryan Breslow purposely defaulted on a $30 million loan that was secured by Bolt and that he has repeatedly appointed and removed directors for his personal interests.

  • March 12, 2024

    Federal Circuit Won't Reconsider Axing Tyvaso Patent

    The full Federal Circuit on Tuesday declined to review a panel ruling from late last year that sided with a Patent Trial and Appeal Board decision that there was nothing patentable about a way of administering a blockbuster pulmonary hypertension drug.

  • March 12, 2024

    GigNet Sued In Del. For Books On Related Party Deals

    Citing company losses and alleged interested transactions involving insiders, a GigNet Inc. stockholder has sued the multinational, high-speed broadband network provider in Delaware's Court of Chancery for access to corporate records needed to probe the allegations.

  • March 12, 2024

    Breast Implant Co.'s $90M DIP OK'd With Creditor Protections

    Bankrupt breast implant maker Sientra Inc. received final court approval in Delaware bankruptcy court for its $90 million debtor-in-possession financing after adding in lien challenge protections for unsecured creditors.

  • March 12, 2024

    Ex-Biopharma CEO Sues For Post-Sale Share Appraisal In Del.

    The co-founder of Caraway Therapeutics Inc. sued in Delaware's Court of Chancery on Tuesday for an appraisal of his shares following the company's November merger with a subsidiary of pharmaceutical giant Merck, alleging that it "was an unfair cash-out transaction" and that he is owed at least a million more shares.

  • March 12, 2024

    Judge OKs Ch. 7 Liquidation For Reverse Mortgage Co.

    A Delaware bankruptcy judge Tuesday converted Reverse Mortgage Investment Trust Inc.'s Chapter 11 case to a Chapter 7 liquidation, saying the debtor's plan administrator's request for conversion has "good and sufficient cause" under the Bankruptcy Code.

  • March 12, 2024

    Murdochs Seek Toss of Epic Election Defamation Suit

    Fox Corp. media mogul Rupert Murdoch and other Fox empire figures have urged Delaware's Court of Chancery to toss as unwinnable a stockholder suit seeking to make them liable for billions in potential damages for defamatory statements alleging 2020 election conspiracies on network and affiliate broadcasts.

  • March 12, 2024

    Ex-Boy Scout Can Seek $120M Award From Insurers

    A Delaware bankruptcy judge has ruled that a former Boy Scout can keep suing the organization's insurers to collect a $120 million abuse judgment against his ex-Scoutmaster, even though the court entered an injunction barring similar lawsuits.

  • March 12, 2024

    Head Of Rutgers Race Justice Program Defends 3rd Circ. Nom

    The director of a Rutgers University program that has drawn controversy amid a confirmation battle for a Third Circuit seat said Tuesday that she is "disappointed though not surprised" by the attacks on nominee Adeel Mangi, who would be the first Muslim federal appeals court judge if confirmed.

  • March 11, 2024

    Panama Port Fight Belongs In Chancery Court, H.K. Co. Says

    A Hong Kong company alleging that its interest in a lucrative port project near the Atlantic entrance to the Panama Canal is being stolen has urged a Delaware federal court to remand its lawsuit back to the Chancery court, saying the suit's removal last month was a delay tactic.

  • March 11, 2024

    3rd Circ. Pick Affirms Muslim Lawyer Event Amid GOP Attacks

    Third Circuit nominee Adeel Mangi, who will be the first Muslim federal appeals court judge if confirmed and has been facing attacks from Republicans, has updated the Senate Judiciary Committee with an event he "inadvertently" left off his nominee questionnaire.

  • March 11, 2024

    Fired Lithium Co. Co-Founder Sues To Recoup 3.25M Shares

    The former co-CEO and co-founder of a lithium fracking company sued the company in Delaware's Court of Chancery, seeking a court order that the company return 3.25 million shares of stock it allegedly repurchased from him after firing him in "bad faith."

  • March 11, 2024

    3rd Circ. Finds No Reason To Disturb AbbVie Privilege Ruling

    The Third Circuit has found that AbbVie was unable to show that a Pennsylvania federal court went against precedent or made an error when ordering the drugmaker to turn over attorney communications from a "sham" patent case allegedly meant to delay AndroGel competitors.

  • March 11, 2024

    Coinbase Asks 3rd Circ. To Force SEC To Set Rules For Crypto

    Crypto exchange Coinbase asked the Third Circuit on Monday to force the U.S. Securities and Exchange Commission to set rules of the road for digital assets in an opening brief that argued the agency failed to provide "a reasoned explanation" for why it denied an earlier request for crypto rulemaking.

  • March 11, 2024

    Technology Co. Must Face Philips' Patent Infringement Claims

    A Delaware federal judge on Monday denied MediaTek's bid to throw out claims in a suit in which it is accused by Philips of patent infringement, calling MediaTek's attempt to exit the case "scattershot."

  • March 11, 2024

    Teamsters Can't Pause Discovery In $137M Fight With Yellow

    A Kansas federal judge shot down the Teamsters' request to pause the discovery process in a $137 million lawsuit accusing the union of holding up a necessary corporate restructuring at the now-bankrupt trucking company Yellow Corp., ordering the union to keep producing documents.

  • March 11, 2024

    Canadian Oil Driller Seeks US Recognition Of Reorg Filings

    A Canadian operator of Wyoming oil and gas wells Monday asked a Delaware court to recognize its Canadian insolvency proceedings, saying it is out of cash, $92 million in debt and seeking a buyer after years of production problems.

  • March 11, 2024

    3rd Circ. Unsure Of Reasons To Halt Del. Assault Weapon Ban

    A Third Circuit panel seemed to lean toward letting Delaware keep its ban on so-called assault weapons and extended magazines during arguments Monday, with Judge Stephanos Bibas pressing gun rights advocates on their claim the ban should have been blocked solely on the grounds that a Second Amendment violation may have taken place.

  • March 11, 2024

    Hertz Tells Chancery To Reject $4B Buyback 'Hindsight' Suit

    Hertz directors weren't certain when they authorized $4 billion in stock buybacks that it would transfer control of the company to a private equity-backed shareholder, an attorney for Hertz told Delaware's Court of Chancery on Monday, urging the court to toss a shareholder's lawsuit over the buybacks.

  • March 11, 2024

    Walmart Fails To Sink Feds' Opioid Crisis Lawsuit

    A Delaware federal judge on Monday kept alive a government lawsuit accusing Walmart of fueling the nation's opioid crisis, ruling that the company could be held liable for filling illegitimate prescriptions its compliance officers allegedly failed to flag for unwitting pharmacists.

Expert Analysis

  • How Life Sciences Cos. Can Prevent Securities Class Actions

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    Though the overall volume of securities fraud class actions has dipped in the last couple of years, life sciences companies remain a particularly popular target for these filings and should employ best practices to minimize risk, say Joni Jacobsen and Angela Liu at Dechert.

  • How Law Firms Can Use Account-Based Marketing Strategies

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    Amid several evolving legal industry trends, account-based marketing can help law firms uncover additional revenue-generating opportunities with existing clients, with key considerations ranging from data analytics to relationship building, say Jennifer Ramsey at stage LLC and consultant Gina Sponzilli.

  • Navigating Over-The-Counter Product Ads After FTC Warning

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    Attorneys at Hunton examine advertising substantiation requirements under both the Federal Trade Commission Act and Lanham Act, following recent FTC letters informing hundreds of companies that over-the-counter product marketing claims must be corroborated by scientific evidence.

  • Strategic Succession Planning At Law Firms Is Crucial

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    Senior partners' reluctance to retire, the rise of the nonequity partner tier and generational differences in expectations are all contributing to an increasing number of departures from BigLaw, making it imperative for firms to encourage retirement among senior ranks and provide clearer leadership pathways to junior attorneys, says Laura Leopard at Leopard Solutions.

  • Maximizing Law Firm Profitability In Uncertain Times

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    As threats of an economic downturn loom, firms can boost profits by embracing the power of bottom-line management and creating an ecosystem where strategic financial oversight and robust timekeeping practices meet evolved client relations, says Shireen Hilal at Maior Strategic Consulting.

  • FLSA Ruling Highlights Time Compensability Under State Law

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    While the Third Circuit's August decision in Tyger v. Precision Drilling endorsed the prevailing standard among federal courts regarding time compensability under the Fair Labor Standards Act, it also serves as a reminder that state laws will often find a broader range of activities to be compensable, say Ryan Warden and Craig Long at White and Williams.

  • What UCC Article 12 Adoption Means For Digital Assets

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    Until it is widely adopted, both owners of digital assets and their secured lenders will need to exercise caution in jurisdictions that have adopted Uniform Commercial Code Article 12, and care will need to be taken when creating, transferring and managing digital assets to comply with its requirements, say Margo Tank and David Whitaker at DLA Piper.

  • USW Ruling Highlights Successor Liability In Bankruptcy Sale

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    A Delaware federal court's recent decision in United Steelworkers v. Braeburn is important for potential asset purchasers in Section 363 bankruptcy sales as it found the purchaser was subject to obligations under the National Labor Relations Act notwithstanding language in the sale approval order transferring the debtor's assets free and clear of successor liability, say attorneys at Arnold & Porter.

  • 5th Circ. Ruling Reminds Attys That CBP Can Search Devices

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    The Fifth Circuit’s recent Malik v. Department of Homeland Security decision adds to the chorus of federal courts holding that border agents don’t need a warrant to search travelers’ electronic devices, so attorneys should consider certain special precautions to secure privileged information when reentering the U.S., says Jennifer Freel at Jackson Walker.

  • 5 Takeaways From Bellwether AI Copyright Case

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    A Delaware federal court's ruling last week in Thomson Reuters v. ROSS is the first summary judgment ruling regarding fair use of copyrighted material to train generative artificial intelligence models and provides an early glimpse of how an appeals court judge views key generative AI copyright issues, says Michael Justus at Katten.

  • Avoiding The Ethical Pitfalls Of Crowdfunded Legal Fees

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    The crowdfunding of legal fees has become increasingly common, providing a new way for people to afford legal services, but attorneys who accept crowdsourced funds must remember several key ethical obligations to mitigate their risks, say Hilary Gerzhoy and Julienne Pasichow at HWG.

  • Appellate Rulings Highlight Telecom Standard Uncertainties

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    Two recent contrasting appellate opinions in Cellco v. White Deer Township and NMSurf v. Webber — interpreting Sections 332 and 253 of the Communications Act, respectively — demonstrate the continuing uncertainty carriers face when challenging state and local requirements that may impede their provision of telecommunications services, say attorneys at Davis Wright.

  • 2 Cases May Expand CFPB's Reach On Deceptive Practices

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    In two separate cases, the Consumer Financial Protection Bureau is asserting a broad interpretation of who is subject to the Consumer Financial Protection Act's prohibition on unfair, deceptive, or abusive acts and practices, raising questions about what an expansion of its authority might mean for consumer credit markets, say John Coleman and Leslie Meredith at Orrick.

  • Why Calif. Applying Del. Caremark Standard Is A Big Deal

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    A California court of appeal’s recent Kanter v. Reed ruling, which found for the first time that Delaware's Caremark standard is consistent with California law, demonstrates the importance of creating and using board-level reporting mechanisms that fulfill oversight duties, say attorneys at Morgan Lewis.

  • Exclusivity Loss Holds Power In Trade Secret Damages Claims

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    A Pennsylvania federal court's recent decision in Elite Transit v. Cunningham adds to a growing body of case law that illustrates how the loss of trade secret exclusivity alone may be sufficient for claiming damages, even when commercialization of a trade secret has not occurred, say Christopher DeBaere and Julia Bloch at Archway Research.

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