Delaware

  • April 03, 2024

    CEO's $5.2B Pay Plan Not Like Musk's, Trade Desk Says

    A potentially $5.2 billion stock option grant that The Trade Desk Inc. gave its CEO is nothing like a recently voided $55 billion compensation package that Tesla's board gave Elon Musk, and a shareholder suit challenging the award should be dismissed, the company told Delaware's Court of Chancery on Wednesday.

  • April 03, 2024

    Casa Systems Files For Ch. 11 With $316M Debt, Plans Sale

    Communications equipment company Casa Systems Inc. filed for Chapter 11 protection in Delaware, with plans to sell its 5G mobile core and RAN business to software company Lumine Group.

  • April 03, 2024

    Window-Shading Co. View Inc. Hits Ch. 11 With $359M Debt

    View Inc., a maker of office windows that automatically shade in response to sunlight, has filed for Chapter 11 protection in Delaware bankruptcy court with $359.4 million in debt and an agreement to hand the company to lenders.

  • April 02, 2024

    Crypto Co. Beats RICO But Not Fraud Claim Over $186M Hack

    A Delaware federal judge has significantly trimmed a proposed class action accusing companies behind a blockchain system that enabled users to transfer crypto of running an illegal money-transmitting business and misrepresenting the system's security measures before a $186 million hack, saying the suit's racketeering, negligence and conversion claims all fail.

  • April 02, 2024

    Backlash To 3rd Circ. Nom Could Hamper More Muslim Picks

    Only two Muslims serve on the federal bench, well below the prevalence of people practicing the faith within the U.S., and the recent travails of a third picked to serve on the court might bode ill for adding more.

  • April 02, 2024

    3rd Circ. Preview: Black Lung, Back Pay On Tap In April

    The Third Circuit this month will consider Keystone Coal Mining Co.'s contention that a lower court erred in deeming a miner's black lung a "total disability," while a shuttered rehabilitation facility has asked the court to undo the National Labor Relations Board's determination that it owes unionized employees back pay and bonuses for work done during the COVID-19 pandemic.

  • April 02, 2024

    Judge Notes There's No 'Jump To Conclusions' Mat In His Court

    In throwing out a lawsuit against a luxury car brand, a Delaware federal judge likened an expert report proffered by a patent litigation outfit to the absurd "Jump To Conclusions" mat from the 1999 movie "Office Space."

  • April 02, 2024

    Straight Path Attys Seek $9.5M Fee After Chancery IDT Ruling

    Attorneys who mostly lost a yearslong Court of Chancery stockholder suit seeking as much as $1.2 billion in damages from IDT Corp. founder Howard Jonas based on allegedly coerced liability releases are seeking a $9.5 million attorney fee, saying the case proved Jonas' fiduciary disloyalty.

  • April 02, 2024

    Hunter Biden Can't Toss 'Vindictive' Criminal Tax Charges

    Hunter Biden lost his bid to end his criminal tax case over claims his prosecution is vindictive and politically motivated, among other arguments, after a California federal judge ruled Monday that Biden "filed his motion without any evidence" and merely "cites portions of various internet news sources, social media posts and legal blogs."

  • April 02, 2024

    Theseus Investor Seeks Appraisal After Concentra Merger

    A fund invested in clinical-stage biopharmaceutical company Theseus Pharmaceuticals Inc. has petitioned Delaware's Court of Chancery for an appraisal of the investor's 250,000 shares following Theseus' $4.05 per-share consolidation in February with Concentra Biosciences LLC.

  • April 02, 2024

    Chile Telecom Co. WOM Can Tap $100M DIP In US Bankruptcy

    The second-largest cellphone network operator in Chile, WOM SA, can access $100 million of a debtor-in-possession package during the first leg of its Chapter 11 case, a Delaware bankruptcy judge ruled Tuesday, overriding objections from creditors.

  • April 02, 2024

    Fed. Circ. Seems Ready To Revive Amarin's Skinny Label Suit

    A Federal Circuit panel seemed wary Tuesday of a Delaware federal judge's decision to throw out Amarin Pharma Inc.'s infringement suit over Hikma Pharmaceuticals USA Inc.'s limited-use version of the blockbuster cardiovascular drug Vascepa, suggesting the district court may have been too hasty.

  • April 02, 2024

    Insurer Sues For Oxbow Director Legal Fees In Crestview Suit

    An insurer for two former Oxbow Carbon LLC directors sued the company in Delaware's Court of Chancery on Monday seeking recovery of millions paid to defend the pair in a long-running battle dating to 2016 over investor efforts to force a sale of the multifaceted energy company.

  • April 02, 2024

    Del. Justices Agree To Review Ex-Xerox Unit Coverage Row

    The Delaware Supreme Court agreed Tuesday to review a lower court's decision to set aside a jury verdict finding that an ex-Xerox unit tried to defraud its insurers into providing coverage for a portion of a $236 million Medicaid fraud-related settlement with Texas.

  • April 02, 2024

    Arena Group Shareholders Sue Former CEO In Delaware

    Shareholders of the Arena Group — the digital publisher behind Sports Illustrated, TheStreet, Men's Journal and other brands — have sued the group's former CEO in Delaware's Court of Chancery, alleging wrongdoings ranging from fraud to gross negligence and demanding more than $10 million in compensatory damages.

  • April 02, 2024

    Ohio Regulator Urges Justices To Review FERC Deadlock Rule

    The Public Utilities Commission of Ohio has urged the U.S. Supreme Court to review the Third Circuit's decision upholding a rule change from the Federal Energy Regulatory Commission that took effect despite a commissioner deadlock, arguing that the appellate court didn't apply a fitting standard.

  • April 02, 2024

    Shoes For Crews Footwear Co. Hits Ch. 11 With $480M Debt

    Nonslip shoe company Shoes for Crews filed for Chapter 11 protection in Delaware on Tuesday with $480 million in funded debt and a stalking horse bid from its lenders.

  • April 02, 2024

    100-Plus Groups Rally Behind Adeel Mangi For 3rd Circ.

    Over 100 federal and state advocacy groups sent a letter to senators on Tuesday urging them to support Adeel Mangi, nominee for the Third Circuit, who would be the first Muslim federal appellate judge if confirmed, amid increasing opposition to him.

  • April 01, 2024

    Fed. Circ. Revives Challenges To J&J Schizophrenia Drug

    A Federal Circuit panel on Monday gave generics-makers Teva Pharmaceuticals USA Inc. and Viatris Inc. a new chance to prove that a patent on Johnson & Johnson's blockbuster schizophrenia drug Invega Sustenna is invalid, saying a lower court used an "erroneously rigid" analysis when rejecting their challenge.

  • April 01, 2024

    Catching Up With Delaware's Chancery Court

    Last week, Delaware's Court of Chancery saw a $42.5 million settlement, dismissal of two big suits with two more remanded back, and new cases from shareholders of Walt Disney, Donald Trump's Truth Social, Rivian Automotive and BarkBox.

  • April 01, 2024

    Trump's Truth Social Florida Suit Leaves Del. Judge 'Agog'

    A Florida lawsuit pitting Donald Trump's social media company against the two former "Apprentice" contestants who helped the former president create the Truth Social platform has flummoxed a Delaware Chancery judge, who said Monday the litigation left him "dumbfounded."

  • April 01, 2024

    High Court Refuses To Revisit Alice Ruling In Steel Beam Case

    The U.S. Supreme Court declined Monday to revisit its landmark ruling on how courts should determine patent eligibility, this time rejecting a plea coming from a company whose claim to have invented an important new method for automating the manufacture of steel beams failed to hold up in court.

  • April 01, 2024

    Skillz Hid 'Rudimentary' Gaming Tech, Investors Tell 9th Circ.

    Skillz Inc. investors urged the Ninth Circuit Monday to revive a consolidated proposed class action alleging the mobile-gaming company misled investors about its growth prospects surrounding its 2021 go-public merger with a special-purpose acquisition company — arguing Skillz skewed revenues and misleadingly touted its gaming technology, which was in reality "rudimentary."

  • April 01, 2024

    Philip Morris Loses Chancery Bid To Join Reynolds-ITG Suit

    Philip Morris' "inexcusable," years-long inaction doomed its request to intervene for a cut of millions of dollars in profit adjustments, headed toward a Chancery Court trial later this year, in a dispute between two other tobacco giants over how much each party owes under a settlement with Florida, a Delaware vice chancellor ruled Monday.

  • April 01, 2024

    Investor Challenges GitLab Inc. Nominating Bylaw In Chancery

    An investor in software development security venture GitLab Inc. has hit the company with a proposed class challenge to advance notice nominating restrictions for proxy contests, the latest in a string of suits branding the provisions "restrictive and coercive."

Expert Analysis

  • 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.

  • Debt Collector Compliance Takeaways From An FDCPA Appeal

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    A Consumer Financial Protection Bureau amicus brief last month in an ongoing First Circuit appeal focusing on an interpretation of the Fair Debt Collection Practices Act can serve as a reminder for debt collectors to understand how their technologies, like bankruptcy scrubs and letter logic, can prevent litigation, says Justin Bradley at Womble Bond.

  • SG's Office Is Case Study To Help Close Legal Gender Gap

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    As women continue to be underrepresented in the upper echelons of the legal profession, law firms could learn from the example set by the Office of the Solicitor General, where culture and workplace policies have helped foster greater gender equality, say attorneys at Ocean Tomo.

  • Exploring The Foreign Discovery Trend In Delaware

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    Despite a U.S. Supreme Court decision limiting the use of Section 1782, recent trends from a Delaware federal court suggest that Delaware remains an appealing forum for such foreign discovery requests, says Florentina Field at Abrams & Bayliss.

  • Del.'s Tesla Pay Takedown Tells Boards What Not To Do

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    The Delaware Chancery Court’s ruthless dissection of the Tesla board’s extreme departures from standard corporate governance in its January opinion striking down CEO Elon Musk’s $55 billion pay package offers a blow-by-blow guide to mistakes Delaware public companies can avoid when negotiating executive compensation, say attorneys at Cleary.

  • Del. Dispatch: Clarification On Fiduciary Duties Of Controllers

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    The Delaware Chancery Court’s January opinion in a Sears Hometown and Outlet Stores' stockholder dispute — holding that a controlling stockholder owes the company and minority shareholders some fiduciary duties when selling shares or voting to change the status quo — suggests instances where investors opposing board decisions should tread carefully, say attorneys at Fried Frank.

  • Reimagining Law Firm Culture To Break The Cycle Of Burnout

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    While attorney burnout remains a perennial issue in the legal profession, shifting post-pandemic expectations mean that law firms must adapt their office cultures to retain talent, say Kevin Henderson and Eric Pacifici at SMB Law Group.

  • Series

    Competing In Dressage Makes Me A Better Lawyer

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    My lifelong participation in the sport of dressage — often called ballet on horses — has proven that several skills developed through training and competition are transferable to legal work, especially the ability to harness focus, persistence and versatility when negotiating a deal, says Stephanie Coco at V&E.

  • 3 Strategies For Aggressive Judgment Enforcement

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    As illustrated by the many creditors of Citgo Petroleum Corp. who may walk away empty-handed — despite the company's court-ordered sale — it is important to start investigating counterparty assets and planning for enforcement even before obtaining a judgment, says Brian Asher at Asher Research.

  • Musk Pay Package Ruling Offers Detailed Lesson On Del. Law

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    Anat Alon-Beck and John Livingstone at Case Western Reserve University discuss the specifics that led Delaware's chancellor to rescind Elon Musk's $55.8 billion Tesla pay package on Jan. 30, how the state’s entire fairness doctrine played into the ruling, and its bigger-picture impact on the executive compensation landscape.

  • Chancery's Sears Ruling Clarifies Stockholder Duties

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    In a recent landmark decision involving stockholders of Sears Hometown and Outlet Stores, the Delaware Chancery Court addressed for the first time what precise duties a controlling stockholder owes, highlighting that controller interference with board action is not per se invalid and that enhanced scrutiny is a reasonableness test, say Christopher Chuff and Taylor Bartholomew at Troutman Pepper.

  • Del. Ruling Adds Momentum For Caremark Plaintiffs

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    The Delaware Supreme Court's recent opinion in Lebanon County Employees' Retirement Fund v. Collis could be viewed as expanding plaintiffs' ability to viably plead a Caremark claim against directors, so Delaware companies should be on heightened alert and focus on creating a record of board oversight, say attorneys at V&E.

  • The Legal Industry Needs A Cybersecurity Paradigm Shift

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    As law firms face ever-increasing risks of cyberattacks and ransomware incidents, the legal industry must implement robust cybersecurity measures and privacy-centric practices to preserve attorney-client privilege, safeguard client trust and uphold the profession’s integrity, says Ryan Paterson at Unplugged.

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