Delaware

  • March 01, 2024

    Tesla Stock For Fees? Attys Who Got Musk's Pay Cut Say Yes

    The lawyers who convinced the Delaware Chancery Court to scuttle Elon Musk's proposed $55 billion Tesla compensation package on Friday filed a request for legal fees that came with a twist — they want to be paid in Tesla stock that rounds out to about $5.6 billion.

  • March 01, 2024

    3rd Circ. Preview: Exxon Whistleblower Case Fuels March

    Headlining the list of Third Circuit arguments in March is a bid from a pair of ExxonMobil whistleblowers to have the courts recognize an Occupational Safety and Health Administration order reinstating their jobs after they were fired following a press report mirroring internal complaints they made about the company's alleged misjudgment of energy output in the Delaware River Basin. 

  • March 01, 2024

    Jury Awards Midwest Energy $57M On Refined Coal Patents

    A Delaware federal jury on Friday awarded Midwest Energy Emissions Corp. more than $57 million after finding that numerous affiliated companies willfully infringed its patents on technology for refining coal to reduce mercury in emissions from power plants.

  • March 01, 2024

    Blockbuster Drug Sales Help Keep J&J Patent Alive

    Johnson & Johnson has persuaded a federal judge in Wilmington, Delaware, to rule in its favor in a patent case seeking to prevent a startup from launching a competing line of schizophrenia drugs, in part because Invega Sustenna has made the pharmaceutical giant billions of dollars.

  • March 01, 2024

    4 Argument Sessions Benefits Attys Should Watch In March

    The Biden administration will urge the Fifth Circuit to preserve preventive services requirements in the Affordable Care Act, the Eighth Circuit will dive into an insurer's payment practices, and the Eleventh Circuit will hear Home Depot workers' bid to revive their 401(k) suit.

  • March 01, 2024

    ​​​​​​​Amazon Shareholder Seeks Prime Info In Del. Chancery

    An Amazon stockholder has sued the online shopping and media giant in Delaware's Court of Chancery to obtain internal documents regarding what the investor and the government have called misleading schemes by the company to drive up Prime service subscriptions and confound customers who try to cancel their paid membership.

  • March 01, 2024

    Fintech Co. Vesttoo's Ch. 11 Plan OK'd After Dissent Defused

    A Delaware bankruptcy judge has approved the Chapter 11 liquidation plan proposed by the official committee of unsecured creditors to bankrupt Israeli fintech firm Vesttoo Ltd., after the committee sorted out a final objection to the plan.

  • March 01, 2024

    MediaMath Floats Ch. 11 Dismissal After $22M Sale Of Assets

    Bankrupt adtech company MediaMath Holdings Inc. asked a Delaware bankruptcy judge to end its Chapter 11 case and allow it to dissolve, because it's sold off basically all it had for $22 million and there's nothing left to reorganize.

  • March 01, 2024

    Network Co. Directors Sue In Chancery To Stop Power Grab

    A power struggle at network connectivity services provider PacketFabric Inc. hit Delaware's Court of Chancery on Thursday, with an investor and two directors suing for a court declaration that they are still members of the board.

  • March 01, 2024

    Music App Shareholders Ask Chancery To OK Board Takeover

    Controlling stockholders of a music creation and social media app have sued in Delaware's Court of Chancery seeking to confirm that Swedish music producer and pop songwriter Andreas Carlsson had replaced the company's board, its CEO, and all of its directors and officers.

  • March 01, 2024

    Del. Jury Deadlocks In Roundup User's Cancer Death Trial

    A Delaware state jury deadlocked Friday after an 18-day trial on a South Carolina woman's suit blaming Monsanto Corp.'s Roundup herbicide for causing her husband's fatal cancer and seeking millions in damages.

  • March 01, 2024

    AstraZeneca Challenge To Medicare Drug Price Program Fails

    A Delaware federal judge on Friday rejected AstraZeneca's challenge to the Medicare price negotiation program, upholding the Biden administration's argument that the talks are voluntary.

  • February 29, 2024

    Two More Cos. Hit With 'In Concert' Delaware Bylaw Suits

    The number of class actions targeting companies' boards of directors and allegedly "coercive" bylaw provisions continues to grow, as two new investor suits were filed in Delaware's Court of Chancery against Massachusetts payments software company Flywire Corp. and California subscription software company Zuora Inc.

  • February 29, 2024

    Medtronic Expands Its Bladder Device Patent Fight

    Medical device conglomerate Medtronic has opened two more fronts in its fight over a new kind of "neuromodulation solution" for bladder and bowel control issues that's at the center of its ongoing intellectual property dispute with a newer and smaller rival, a recent acquisition of Boston Scientific.

  • February 29, 2024

    Chancery Preserves Class Suit Over Microsoft-Activision Deal

    An Activision Blizzard shareholder that sued in Delaware's Court of Chancery over the company's $68.7 billion sale to Microsoft Corp. got the nod Thursday to move forward with the proposed class action that alleges the merger process may have violated Delaware law.

  • February 29, 2024

    Lordstown To Pay $25M In SEC Probe Of Overhyped EVs

    Bankrupt automaker Lordstown Motors Corp. has agreed to return $25.5 million to shareholders who were allegedly drawn in by false assurances that the company had secured tens of thousands of pre-orders for electric trucks that it didn't even have the parts to build, the U.S. Securities and Exchange Commission announced Thursday.

  • February 29, 2024

    Stolen Funds Render FTX Clawback Moot, Embed Parties Say

    Parties associated with stock trading platform Embed Financial Technologies told a Delaware bankruptcy judge Thursday that defunct cryptocurrency exchange FTX Trading Ltd. can't claw back $240 million from a prepetition acquisition because the funds used to buy Embed were stolen from FTX customers.

  • February 29, 2024

    US Trustee Opposes Proterra Ch. 11 Plan's Future Exculpation

    The Office of the U.S. Trustee objected Thursday to the Chapter 11 plan of electric bus maker Proterra Inc., saying it includes exculpation provisions that would cover actions after it emerges from bankruptcy, and interferes with the payment of required quarterly fees to the trustee's office.

  • February 29, 2024

    Diamondback Board Conflicted In OK'ing $26B Deal, Suit Says

    Shareholders of Diamondback Energy Inc. have hit the company and its directors in Delaware's Chancery Court with a proposed class action, claiming its board members wrongfully voted in their own self-interest when approving Diamondback's $26 billion acquisition of another energy company with terms that will give the board members control over their reelection.

  • February 29, 2024

    Trump's Truth Social Merger Deal Lands In Del. Chancery

    Plans to take former President Donald Trump's social media platform Truth Social public came under fire in two Delaware Chancery Court lawsuits Wednesday, with investors on both sides of the deal alleging that the long-delayed merger would cheat them out of their shares.

  • February 29, 2024

    Yellow Corp. Gets Ch. 11 Control Extended To End Of July

    Bankrupt Yellow Freight Corp. has secured an extra 90 days to hold onto the wheel of its Chapter 11 case in Delaware, after citing both the complexity of its case and the "tremendous" progress in selling off its assets.

  • February 29, 2024

    NJ Towns Can't Sue Netflix, Hulu For Fees, 3rd Circ. Says

    Two New Jersey municipalities cannot sue Netflix and Hulu for franchise fees under the state's Cable Television Act, the Third Circuit held Thursday in a precedential opinion, saying the state statute reserves enforcement of the law to the state Board of Public Utilities.

  • February 29, 2024

    Chancery Rejects Leadership Bid Over Lack Of Del. Counsel

    A Delaware vice chancellor has denied a three-firm leadership bid in stockholder litigation over alleged mismanagement at a medical clothing company because no First State attorneys were on the proposed lead counsel team.

  • February 28, 2024

    Musk, Ex-Twitter Staff Fail To Reach Deal In Severance Dispute

    Settlement talks between X Corp., formerly known as Twitter, and a group of former employees have fallen apart, the parties told a Delaware federal judge on Wednesday, asking the judge to lift a stay in their dispute over severance compensation.

  • February 28, 2024

    Attys Get $750K Fee Award In $6M Med Tech Co. Deal

    Class attorneys for minority shareholders of Autonomous Medical Devices Inc. who secured a $6 million settlement to resolve claims about a purportedly underpriced stock sale to an interest of Oracle founder Larry J. Ellison won court approval of the settlement Wednesday, along with a requested $750,000 fee award.

Expert Analysis

  • Strategies For Single-Member Special Litigation Committees

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    The Delaware Supreme Court's recent order in the Baker Hughes derivative litigation allowing testimony from a single-member special litigation committee highlights the fact that, while single-member SLCs are subject to heightened scrutiny, they can also provide unique opportunities, says Josh Bloom at MoloLamken.

  • Opinion

    Suits Against Insulin Pricing Are Driven By Rebate Addiction

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    A growing wave of lawsuits filed by states, cities and counties against insulin manufacturers and pharmacy benefit managers improperly allocate the blame for rising insulin costs, when in actuality the plaintiffs are partially responsible, says Dan Leonard at Granite Capitol Consulting.

  • How Firms Can Ensure Associate Gender Parity Lasts

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    Among associates, women now outnumber men for the first time, but progress toward gender equality at the top of the legal profession remains glacially slow, and firms must implement time-tested solutions to ensure associates’ gender parity lasts throughout their careers, say Kelly Culhane and Nicole Joseph at Culhane Meadows.

  • Regulatory Trends Offer 4 Lessons For Debt Relief Providers

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    A string of enforcement actions, including a New York lawsuit filed last month by seven states and the Consumer Financial Protection Bureau, underscore the regulatory scrutiny that debt relief and credit repair companies face and offer important lessons on telemarketing and deceptive practices compliance, say attorneys at Sheppard Mullin.

  • 7 Common Myths About Lateral Partner Moves

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    As lateral recruiting remains a key factor for law firm growth, partners considering a lateral move should be aware of a few commonly held myths — some of which contain a kernel of truth, and some of which are flat out wrong, says Dave Maurer at Major Lindsey.

  • Series

    Cheering In The NFL Makes Me A Better Lawyer

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    Balancing my time between a BigLaw career and my role as an NFL cheerleader has taught me that pursuing your passions outside of work is not a distraction, but rather an opportunity to harness important skills that can positively affect how you approach work and view success in your career, says Rachel Schuster at Sheppard Mullin.

  • 6 Pointers For Attys To Build Trust, Credibility On Social Media

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    In an era of information overload, attorneys can use social media strategically — from making infographics to leveraging targeted advertising — to cut through the noise and establish a reputation among current and potential clients, says Marly Broudie at SocialEyes Communications.

  • 5 Lessons For SaaS Companies After Blackbaud Data Breach

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    Looking at the enforcement actions that software-as-a-service provider Blackbaud resolved with state attorneys general, the U.S. Securities and Exchange Commission and the Federal Trade Commission in the past year can help SaaS companies manage these increasingly common forms of data breaches, say attorneys at Orrick.

  • Del. Ruling Stands Out In Thorny Noncompete Landscape

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    In Cantor Fitzgerald v. Ainslie, the Delaware Supreme Court last month upheld the enforceability of forfeiture-for-competition provisions in limited partnership agreements, providing a noteworthy opinion amid a time of increasing disfavor toward noncompetes and following a string of Chancery Court rulings deeming them unreasonable, say Margaret Butler and Steven Goldberg at BakerHostetler.

  • A Post-Mortem Analysis Of Stroock's Demise

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    After the dissolution of 147-year-old firm Stroock late last year shook up the legal world, a post-mortem analysis of the data reveals a long list of warning signs preceding the firm’s collapse — and provides some insight into how other firms might avoid the same disastrous fate, says Craig Savitzky at Leopard Solutions.

  • Understanding SEC's Focus Amid Lack Of Final AI Rules

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    Although the U.S. Securities and Exchange Commission's proposed rules to govern artificial intelligence are likely far from being finalized, understanding existing regulatory provisions that could address AI risks with respect to development, disclosure, compliance and data protection could help firms anticipate and avoid pitfalls, say attorneys at Skadden.

  • Del. Segway Dismissal Suggests Execs Not Liable For Biz Risk

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    While the debate continues within the Delaware Chancery Court over whether Caremark liability applies to matters of pure business risk, the court's recent rejection of Segway’s suit against the ex-president who oversaw financial difficulties suggests the court is uninterested in undermining the deference the business judgment rule grants corporate fiduciaries, say attorneys at Dechert.

  • ChristianaCare Settlement Reveals FCA Pitfalls For Hospitals

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    ChristianaCare's False Claims Act settlement in December is the first one based on a hospital allegedly providing private physicians with free services in the form of hospital-employed clinicians and provides important compliance lessons as the government ramps up scrutiny of compensation arrangements, say attorneys at Sheppard Mullin.

  • Texas Ruling Clarifies That Bankruptcy Shields LLC Rights

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    A Texas bankruptcy court’s recent ruling in In re: Envision makes it clear that the Bankruptcy Code preempts a section of Delaware state law that terminates a member’s interest in an LLC upon a bankruptcy filing, clarifying conflicting case law, say Larry Halperin and Joon Hong at Chapman and Cutler.

  • Series

    Coaching High School Wrestling Makes Me A Better Lawyer

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    Coaching my son’s high school wrestling team has been great fun, but it’s also demonstrated how a legal career can benefit from certain experiences, such as embracing the unknown, studying the rules and engaging with new people, says Richard Davis at Maynard Nexsen.

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