Delaware

  • March 11, 2024

    Alteryx Shareholder Sues In Del. For Info On $4.4B PE Buyout

    A shareholder of California-based computer software company Alteryx Inc. is demanding to inspect the company's books and records in relation to its $4.4 billion sale to private equity firms Insight Partners and Clearlake Capital, arguing that the company's special committee that evaluated the deal was "inherently conflicted from the beginning" and gave an unfair advantage to the two buyers.

  • March 11, 2024

    Woodsford Affiliate Prevails In Fee Feud With SF Firm

    An affiliate of British litigation funder Woodsford has secured a $1.8 million arbital award and $1.2 million in interest from a San Francisco law firm following the 2019 settlement of a lawsuit against Google, a Delaware federal judge confirmed Monday.

  • March 11, 2024

    Philly DA Can't Escape Sanctions Over Lack Of Candor

    A Third Circuit panel has ruled that Philadelphia's district attorney, Larry Krasner, must apologize to the family of two 1984 murder victims after his office was less than forthcoming in proceedings over post-conviction relief sought by one of the killers.

  • March 11, 2024

    Catching Up With Delaware's Chancery Court

    Delaware's Court of Chancery became a hot topic in New Orleans last week as litigators and judges at an annual convention acknowledged the First State's corporate law preeminence is under scrutiny. Back home, the court moved ahead on disputes involving Meta Platforms, Abercrombie & Fitch and Donald Trump.

  • March 09, 2024

    Trump's Truth Social Defuses Chancery Go-Public Fight

    If Truth Social issues any new shares before it goes public, they will be put into escrow account and no existing shareholder will be diluted, former President Donald Trump's social media company told Delaware's Court of Chancery on Saturday, ratcheting down a conflict with a minority shareholder.

  • March 08, 2024

    Abercrombie Ex-CEO Gets Legal Fees For NY Sex Assault Suit

    Abercrombie & Fitch Co. must front the legal fees of a former CEO accused of using his position to sexually abuse aspiring male models, a Delaware Court of Chancery judge ruled Friday, finding the allegations raised in a New York federal lawsuit were tied to his corporate role.

  • March 08, 2024

    Allegiance Coal Spars With Ch. 11 Lender Over $1.8M Fees

    A Delaware bankruptcy judge on Friday declined to rule on a petition from mining company Allegiance Coal USA to toss its debtor-in-possession lender's adversary proceeding demanding $1.8 million in fees, allowing more time to determine whether the fees have priority over the rest of the debtor's obligations.

  • March 08, 2024

    4 Severance Cases Stemming From Musk's X Corp. Takeover

    A recently filed suit from four executives alleging Elon Musk cheated them out of severance pay adds to the legal fallout that Musk and X Corp. are facing in the aftermath of the tech billionaire's $44 billion acquisition of the company formerly known as Twitter.

  • March 08, 2024

    DocuSign Brass Accused Of Misleading Investors On Growth

    DocuSign's board of directors has been hit with a derivative shareholder suit in Delaware Chancery Court alleging that the e-signature giant misled investors by framing its 2020 growth as a sustainable shift in demand and not just a result of COVID-19 pandemic restrictions.

  • March 08, 2024

    Hunter Biden's Trump Conspiracy Theory Baseless, US Says

    Hunter Biden's claim that former President Donald Trump is improperly driving his criminal prosecution on nine counts of tax violations is nothing more than a baseless conspiracy theory, the U.S. government told a California federal court Friday, arguing against Biden's efforts to get the case tossed.

  • March 08, 2024

    Aircraft Parts Co. AeroCision Begins Ch. 11 Liquidation

    AeroCision, a troubled supplier of airplane components, has informed Delaware's bankruptcy court its Chapter 11 liquidation plan has gone into effect, distributing remaining assets of the business after it went on the auction block late last year.

  • March 08, 2024

    Catholic Group Gets $2M Fee Award In Boy Scouts' Ch. 11

    A Delaware bankruptcy judge on Friday awarded an ad hoc group of Roman Catholic organizations just over $2 million in legal fees and expenses in the Boy Scouts of America's Chapter 11 case, saying it had made a substantial contribution to the group's bankruptcy plan.

  • March 07, 2024

    Chemours Internal Review Reveals Violations By Top Execs

    Chemical giant Chemours announced on Wednesday that an internal investigation revealed that three executives engaged in unethical financial practices to boost their incentive compensation.

  • March 07, 2024

    IP Forecast: 2nd Circ. To Consider Whether Seltzer Is Beer

    The Modelo brand will head to the Second Circuit next week to argue that a Manhattan jury erred when it found that Corona's flavored seltzer is just about the same as beer in light of a contract that the companies entered. Here's a look at that case — plus all the other major intellectual property matters on deck in the coming week.

  • March 07, 2024

    Del.'s Corp. Law Dominance A Hot Topic At Tulane Conference

    Whether Delaware will continue to be where many companies choose to incorporate and its courts will remain the go-to venue for deciding high-stakes business disputes was a hot topic of conversation as Tulane Law School commenced its annual Corporate Law Institute on Thursday.

  • March 07, 2024

    Chancery Clears Way For March 22 Trump Media SPAC Vote

    Efforts to take former President Donald Trump's Truth Social media platform public have continued moving ahead after Delaware's Court of Chancery rejected a full preliminary injunction sought by a former executive of the blank-check company involved before a key vote on the take-public merger.

  • March 07, 2024

    Harpoon Shareholder Sues For Records On $680M Merck Buy

    A shareholder of Harpoon Therapeutics Inc. sued in Delaware's Court of Chancery Thursday for corporate documents related to the company's proposed $680 million cash buyout by Merck, saying the proposed deal appears to unfairly "lock in a windfall for select Harpoon investors."

  • March 07, 2024

    Renesas Sued In Chancery Over $315M Merger Payments

    A representative for shareholders of an Israel-based software company have hit Renesas Electronics Corp. with a contract suit in Delaware Chancery Court accusing the Japanese semiconductor maker of failing to pay "earnout" milestones after it merged with the software company in December 2021.

  • March 07, 2024

    Cano Health's Ch. 11 Financing Approved Consensually

    Primary care group Cano Health Inc. told a Delaware bankruptcy judge Thursday that productive talks with a recently appointed creditors' committee had enabled it to submit a consensual order to gain final approval for its $150 million Chapter 11 loan.

  • March 07, 2024

    Investor Sues In Del. Over Space Co.'s Lockheed Bid Block

    The board members of satellite maker Terran Orbital Corp. are protecting their power and infringing on shareholders' rights by adopting "an unreasonable and overbroad poison pill" in response to Lockheed Martin Corp.'s recent $606 million takeover attempt, a stockholder alleges in a new Delaware Chancery Court complaint.

  • March 07, 2024

    EV Charging Co. Hits Ch. 11 With Plan For Lender Takeover

    Electric vehicle charging company Charge Enterprises Inc. filed for Chapter 11 protection Thursday in Delaware bankruptcy court with $48.7 million in debt, saying it plans to hand control of the company to lenders following a dispute with an investment adviser.

  • March 06, 2024

    Latham Passes Skadden As Busiest Securities Defense Firm

    Despite a downward trend in securities case filings over the past three years, Latham & Watkins LLP has remained one of the most active law firms on the defense side, taking over the top spot from Skadden Arps Slate Meagher & Flom LLP, according to reports released by Lex Machina.

  • March 06, 2024

    Meta Must Tackle Increased Account Hijackings, 41 AGs Say

    A bipartisan group of 41 attorneys general have urged Meta Platforms Inc. to tackle the "dramatic" increase in hackers taking over Facebook and Instagram accounts, saying the attacks have caused financial harm to victims and their families and friends.

  • March 06, 2024

    Pa. Pharma Co. Cops To Adulterated-Drug Charges

    A Pennsylvania generic drug manufacturer has pled guilty to federal charges that it sold adulterated drugs in the U.S. into interstate commerce and agreed to pay a $1.5 million penalty, the U.S. Department of Justice said Wednesday.

  • March 06, 2024

    Yellow Corp. Faces Pension Funds' Arbitration Bid In $6B Spat

    Eleven retirement funds urged a Delaware bankruptcy judge Wednesday to order Yellow Corp. to arbitrate their claims worth over $6 billion, arguing it would be efficient to take the dispute before a benefits plan expert, while the trucking firm insisted that arbitration would delay its ongoing Chapter 11 proceedings.

Expert Analysis

  • Section 363 Ruling Lines Up With Avoidance Action Precedent

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    While it is safe to say that avoidance actions in bankruptcy cases are the exception, not the rule, when selling assets in a Section 363 sale, the Eighth Circuit’s recent ruling in Simply Essentials’ Chapter 5 case reveals uniformity among courts that have considered the issue, says Daniel Lowenthal at Patterson Belknap.

  • What Large Language Models Mean For Document Review

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    Courts often subject parties using technology assisted review to greater scrutiny than parties conducting linear, manual document review, so parties using large language models for document review should expect even more attention, along with a corresponding need for quality control and validation, say attorneys at Sidley.

  • Series

    Participating In Living History Makes Me A Better Lawyer

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    My role as a baron in a living history group, and my work as volunteer corporate counsel for a book series fan association, has provided me several opportunities to practice in unexpected areas of law — opening doors to experiences that have nurtured invaluable personal and professional skills, says Matthew Parker at the Nebraska Department of Health and Human Services.

  • Opinion

    Private Equity Owners Can Remedy Law Firms' Agency Issues

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    Nonlawyer, private-equity ownership of law firms can benefit shareholders and others vulnerable to governance issues such as disparate interests, and can in turn help resolve agency problems, says Michael Di Gennaro at The Law Practice Exchange.

  • Cases, Issues That May Shape The Intersection Of AI And IP

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    Courts dealing with the current, and likely growing, onslaught of intellectual property litigation concerning artificial intelligence will determine whether certain common forms of AI training constitute IP violations, while the government works to determine whether AI-generated output is itself protectable under the law, say Robert Hill and Kathryn Keating at Holland & Knight and Meghan Ryan at Southern Methodist University.

  • How To Protect Atty-Client Privilege While Using Generative AI

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    When using generative artificial intelligence tools, attorneys should consider several safeguards to avoid breaches or complications in attorney-client privilege, say Antonious Sadek and Christopher Campbell at DLA Piper.

  • What FERC-PJM Negotiations Mean For The Energy Industry

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    Following the aftermath of Winter Storm Elliot, disputes associated with the PJM Interconnection settlement negotiations taking place at the Federal Energy Regulatory Commission have brought to the fore a potential legal minefield arising out of extreme weather events that could lead to commercial risks for power generating companies, say attorneys at Hogan Lovells.

  • How New Lawyers Can Leverage Feedback For Growth

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    Embracing constructive criticism as a tool for success can help new lawyers accelerate their professional growth and law firms build a culture of continuous improvement, says Katie Aldrich at Fringe Professional Development.

  • Del. Corporate Law Overhaul Delivers On Flexibility For Cos.

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    Recent amendments to the Delaware General Corporation Law provide needed flexibility to public companies, including by making it easier to effect stock splits or changes to authorized shares, and by streamlining the process to ratify defective corporate acts, say attorneys at Venable.

  • The Impact Of A Del. District's Procedural Shift On Disclosures

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    A Delaware federal judge's standing orders regarding corporate ownership and funding disclosure requirements have had significant impacts even outside of the judge's court, including on how patent assertion entities organize and file cases, and have addressed the ethical implications of litigation control revealed through the disclosures, say attorneys at Finnegan.

  • Twitter Legal Fees Suit Offers Crash Course In Billing Ethics

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    X Corp.'s suit alleging that Wachtell grossly inflated its fees in the final days of Elon Musk’s Twitter acquisition provides a case study in how firms should protect their reputations by hewing to ethical billing practices and the high standards for professional conduct that govern attorney-client relationships, says Lourdes Fuentes at Karta Legal.

  • Offshore Wind Auction Results Portend Difficulties In Gulf

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    Results of the Bureau of Ocean Energy Management's recent auction of the Gulf of Mexico lease areas tell different stories about the future of offshore wind in the U.S., with the Gulf’s low interest suggesting uncertainty and the Mid-Atlantic’s strong interest suggesting a promising market, say attorneys at K&L Gates.

  • ABA's Money-Laundering Resolution Is A Balancing Act

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    While the American Bar Association’s recently passed resolution recognizes a lawyer's duty to discontinue representation that could facilitate money laundering and other fraudulent activity, it preserves, at least for now, the delicate balance of judicial, state-based regulation of the legal profession and the sanctity of the attorney-client relationship, say attorneys at Ballard Spahr.

  • How Del. Cos. Weighed Officer Exculpation This Proxy Season

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    One year after the Delaware General Corporation Law was amended to permit state corporations to exculpate covered officers, results from the 2023 proxy season show that companies are increasingly adopting the practice, despite some hurdles such as the need for supermajority approval, say attorneys at Weil.

  • Law Firm Professional Development Steps To Thrive In AI Era

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    As generative artificial intelligence tools rapidly evolve, professional development leaders are instrumental in preparing law firms for the paradigm shifts ahead, and should consider three strategies to help empower legal talent with the skills required to succeed in an increasingly complex technological landscape, say Steve Gluckman and Anusia Gillespie at SkillBurst Interactive.

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