Delaware

  • February 05, 2024

    EV Co. Fisker Brass Sued Over Production, Financial Woes

    The board members of electric vehicle company Fisker are facing a stockholder derivative action in Delaware federal court claiming that the co-founders and several board members misled investors about the company's financial woes and systemic production problems.

  • February 05, 2024

    Hedge Fund Sues SPAC For Books On Failed Casino Deal

    A New York hedge fund on Monday sued a special purpose acquisition company for books and records related to a failed $2.6 billion deal to take a casino public in Manila, the Philippines.

  • February 05, 2024

    Byju's Lenders Want To Claw Back $533M Hedge Fund Pay

    The U.S. arm of Indian technology giant Byju's told a Delaware bankruptcy judge Monday the subsidiary will use its Chapter 11 case to try clawing back more than half a billion dollars transferred to a hedge fund that provided a pancake house as its address in regulatory filings.

  • February 05, 2024

    Packable's Creditors Can Pursue Breach Of Fiduciary Claims

    A Delaware bankruptcy judge granted unsecured creditors of e-commerce seller Packable Holdings derivative standing to pursue breach of fiduciary duty claims in an adversary complaint alleging that the company's mismanagement led to its failure.

  • February 05, 2024

    Caterpillar Gets Tweaks To Antitrust Suit Blocked

    A Delaware federal judge has refused to let a defunct construction equipment supplier add a new legal theory in its long-running antitrust case accusing Caterpillar of pressuring an online auctioneer to break its contract with a would-be competitor, finding no good cause to permit amendment years after the deadline.

  • February 05, 2024

    Monsanto Pushes Back On Roundup Claims Before Del. Jury

    A lawyer for Monsanto Corp. told a Delaware jury on Monday that attorneys seeking regular and punitive damages based on alleged ties between Roundup exposure and a South Carolina man's fatal cancer want jurors to believe "everybody got it wrong" in finding the product safe.

  • February 05, 2024

    Chancery Scuttles Skechers Stockholder Derivative Suit

    A Delaware Court of Chancery judge has allowed executives of comfort shoe company Skechers USA to beat feet out of a stockholder suit accusing top brass of using corporate aircraft for personal trips, at a cost to the company.

  • February 05, 2024

    Reynolds, ITG Say Philip Morris Can't Butt In To Del. Dispute

    After arguing for seven years over which company owes hundreds of millions to Florida under a 1997 settlement, Reynolds Tobacco Co. and ITG Brands LLC agreed on one point at a hearing Monday in Delaware: Philip Morris USA has no business butting into their Chancery Court dispute.

  • February 05, 2024

    3rd Circ. Preview: Mail-In Ballot Case Headlines February

    Topping the list of Third Circuit arguments in February is a Pennsylvania case presenting the familiar issue of whether undated or misdated outer envelopes for mail-in ballots should count as valid votes.

  • February 05, 2024

    Biotech Co. Hits Ch. 11, Blames Drug Misfires, Criminal Case

    DMK Pharmaceuticals has applied for Chapter 11 protection in Delaware, citing recent clinical trial failures and product recalls, as well as the government's allegation that a subsidiary engaged in criminal activities, as reasons for seeking bankruptcy relief.

  • February 05, 2024

    Zymergen Ch. 11 Plan Confirmed After Investor Objection

    Biotechnology company Zymergen received confirmation of its Chapter 11 plan Monday at a hearing in Delaware bankruptcy court after resolving an objection to the plan from a class of investors suing the company.

  • February 05, 2024

    States, Enviro Groups Expand Suits Over USPS' New Vehicles

    Environmentalists and a coalition of states broadened their California federal court challenges to the U.S. Postal Service's decision to replace its aging delivery fleet with "gas-guzzling vehicles" powered by internal combustion engines, saying it failed to consider lower-emission alternatives.

  • February 05, 2024

    Spinal Implant Maker Previews Ch. 11 Sale And Wind Down

    Bankrupt biotechnology developer InVivo Therapeutics Corp. will auction its assets and hopefully propose a Chapter 11 wind down plan in April, attorneys told a Delaware bankruptcy court Monday at a first day hearing.

  • February 05, 2024

    Biotech Co. NanoString Hits Ch. 11 In Del. With $325M Debt

    Life sciences company NanoString Technologies Inc. and three affiliates filed for Chapter 11 protection in Delaware bankruptcy court with $325 million in debt and $275 million in assets, months after a jury found it infringed several gene-technology patents.

  • February 05, 2024

    Healthcare Group Cano Health Hits Ch. 11 With $1.3B Debt

    Primary care group Cano Health Inc. has filed for Chapter 11 protection in Delaware bankruptcy court, saying it will be pursuing a prearranged double-track plan to either restructure its $1.26 billion in debt or seek a buyer.

  • February 02, 2024

    3rd Circ. Won't Overturn Fireworks Control IP Decision

    The Third Circuit has refused to overturn an earlier finding that lifted a preliminary injunction blocking Romanian company fireTEK from distributing a product that allegedly infringed a copyright on a U.S. rival's fireworks display communication protocol.

  • February 02, 2024

    Suspect In $400M Crypto Theft Put Under Monitoring

    The man suspected of leading a SIM swapping scheme that appears to encompass more than $400 million stolen from cryptocurrency exchange FTX appeared in Chicago federal court Friday, where he was released without bond to face federal wire fraud charges in Washington, D.C.

  • February 02, 2024

    Matterport Stockholders Claim 'Unlawful' $220M Share Issue

    Two shareholders of 3D model maker Matterport Inc. have sued a raft of the technology company's directors, officers and investors in Delaware's Court of Chancery, asserting breach of fiduciary duty, corporate waste and unjust enrichment.

  • February 02, 2024

    Coinbase Directors Must Face Del. Insider Trading Suit

    In a decision that sharpens the contours of state insider trading and unjust enrichment claims, Delaware's chancellor has refused to dismiss a stockholder derivative suit against Coinbase Global Inc. directors and officers who saved $1.09 billion by selling $2.9 billion in shares just ahead of a stock plunge.

  • February 02, 2024

    Judge Tosses Involuntary Releases In Amyris Ch. 11 Plan

    A Delaware bankruptcy judge on Friday struck down biotechnology company Amyris Inc.'s plan to shield executives and others from liability using nonconsensual releases as part of its Chapter 11 plan, finding that Amyris can reorganize without relying on the controversial mechanism.

  • February 02, 2024

    Consumer Data Co. Cleared To Seek Ch. 11 Plan Votes

    A Pasadena, California-based consumer data gathering platform can solicit votes for a Chapter 11 plan that the company hopes to get confirmed in March, a Delaware bankruptcy judge decided on Friday.

  • February 02, 2024

    Auto Parts Supplier Cleared For Prepackaged Ch. 11 Plan

    Car part supplier Parts iD Inc. received Delaware bankruptcy court approval Friday for its prepackaged Chapter 11 plan after resolving all opposition to the restructuring through minor language changes to the proposal.

  • February 02, 2024

    Crypto Course Founder To Pay SEC $1.8M Over Bogus Fund

    The creator of an online cryptocurrency course entered into a $1.8 million settlement with the U.S. Securities and Exchange Commission on Friday after he allegedly induced more than a dozen students to invest in a cryptocurrency fund that didn't exist.

  • February 02, 2024

    Del. Justices Uphold Chancery Toss Of Baker Hughes Suit

    The Delaware Supreme Court has upheld a decision ending consolidated derivative litigation by Baker Hughes stockholders who alleged a series of transactions in 2018 unfairly benefited GE, finding that the Court of Chancery had discretion to dismiss the case based on testimony of a one-member litigation committee.

  • February 02, 2024

    McCarter & English To Face Revised Biotech Malpractice Suit

    A New Jersey state judge on Friday permitted a biopharmaceutical company to amend its malpractice suit against McCarter & English LLP to add new claims and avenues to collect damages, finding the changes were "sufficiently pled" and would not be prejudicial to the firm.

Expert Analysis

  • Tips For Avoiding Disputes From M&A Earnout Provisions

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    Attorneys at Freshfields review key Delaware cases to outline several important considerations that may reduce the risk of an earnout dispute arising from a merger agreement and help the parties navigate disputes when they do occur.

  • Del. Dispatch: Refining M&A Terms After Twitter Investor Suit

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    The Delaware Court of Chancery's recent decision in Crispo v. Musk — invalidating a merger agreement provision that has been commonly used to disincentivize buyers from wrongful merger termination — should cause target companies to consider new approaches to ensure the payment of lost premium damages, say attorneys at Fried Frank.

  • Navigating Discovery Of Generative AI Information

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    As generative artificial intelligence tools become increasingly ubiquitous, companies must make sure to preserve generative AI data when there is reasonable expectation of litigation, and to include transcripts in litigation hold notices, as they may be relevant to discovery requests, say Nick Peterson and Corey Hauser at Wiley.

  • Finding Focus: Strategies For Attorneys With ADHD

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    Given the prevalence of ADHD among attorneys, it is imperative that the legal community gain a better understanding of how ADHD affects well-being, and that resources and strategies exist for attorneys with this disability to manage their symptoms and achieve success, say Casey Dixon at Dixon Life Coaching and Krista Larson at Stinson.

  • Earnout Contract Considerations After NC Good Faith Ruling

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    The North Carolina Supreme Court's recent Value Health Solutions v. Pharmaceutical Research decision, holding the implied covenant of good faith and fair dealing did not apply in an earnout dispute related to an asset sale, demonstrates the need for practitioners to pay careful attention to milestone concepts in M&A transactions, says Benjamin Hicks at Wagner Hicks.

  • Cos.' Trade Secret Measures Must Adjust To Remote-Work Era

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    Several recent cases demonstrate that companies need to reevaluate and adjust their trade secret protection strategies in this new age of remote work, says Stephanie Riley at Womble Bond.

  • ITC Ban On Apple Watch Could Still Be Reversed

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    The U.S. International Trade Commission's recent final decision that the Apple Watch infringed two patents owned by Masimo Corp. was a rare instance of a popular consumer product being hit with an absolute importation ban, but it's possible that President Joe Biden could assert his power to reverse the ITC decision, says Benjamin Horton at Marshall Gerstein.

  • Opinion

    Courts Shouldn't Credit Allegations From Short-Seller Reports

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    Securities class actions against public companies can extend for years and lead to significant settlements, so courts should not allow such cases with allegations wholly reliant on reports by short-sellers, who have an economic interest in seeing a company's stock price decline, to proceed past the motion to dismiss stage, says Richard Zelichov at DLA Piper.

  • Handling Religious Objections To Abortion-Related Job Duties

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    While health care and pharmacy employee religious exemption requests concerning abortion-related procedures or drugs are not new, recent cases demonstrate why employer accommodation considerations should factor in the Title VII standard set forth by the U.S. Supreme Court’s 2023 Groff v. DeJoy ruling, as well as applicable federal, state and local laws, say attorneys at Epstein Becker.

  • Co. Directors Must Beware Dangers Of Reverse Factoring

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    New accounting requirements governing the disclosure of so-called reverse-factoring programs have revealed billions of dollars worth of hidden liabilities on companies’ ledgers, and directors of corporate boards should review their companies’ books for this hidden danger, say Garland Kelley at Looper Goodwine, Amin Al-Sarraf at Locke Lord and Jill Basinger at Discovery Land.

  • Attorneys, Law Schools Must Adapt To New Era Of Evidence

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    Technological advancements mean more direct evidence is being created than ever before, and attorneys as well as law schools must modify their methods to account for new challenges in how this evidence is collected and used to try cases, says Reuben Guttman at Guttman Buschner.

  • Tips For Litigating Against Pro Se Parties In Complex Disputes

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    Litigating against self-represented parties in complex cases can pose unique challenges for attorneys, but for the most part, it requires the same skills that are useful in other cases — from documenting everything to understanding one’s ethical duties, says Bryan Ketroser at Alto Litigation.

  • What Whistleblowing Trends Mean For Securities Litigation

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    A recent survey on whistleblowing-related topics suggests several valuable lessons for companies to consider regarding securities and shareholder litigation, and underscores the need to implement and advertise robust whistleblowing policies to employees, say attorneys at Freshfields.

  • Del. Dispatch: Lessons From Failed ETE-Williams Merger

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    Attorneys at Fried Frank delve into the Delaware Supreme Court's recent decision in Energy Transfer v. Williams to highlight the major monetary consequences of a failed merger, and show why merger agreement drafting and factual context are of utmost importance.

  • Pro Bono Work Is Powerful Self-Help For Attorneys

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    Oct. 22-28 is Pro Bono Week, serving as a useful reminder that offering free legal help to the public can help attorneys expand their legal toolbox, forge community relationships and create human connections, despite the challenges of this kind of work, says Orlando Lopez at Culhane Meadows.

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