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Delaware
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September 03, 2024
3rd Circ.: Biotech Must Pay Royalties Despite Expired Patents
A cancer drug biotechnology company must pay royalties to a research firm despite the expiration of the applicable patents, a Third Circuit panel ruled in a precedential decision Tuesday, concluding that the biotech's royalty obligation is calculated differently than the one in a U.S. Supreme Court case it cited.
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September 03, 2024
$15M Class Atty Fee Sought In Microsoft-Activision Suit
Attorneys for Sweden's state pension fund manager have proposed a $15 million attorney fee for their investigation and intervention in a suit seeking Delaware Court of Chancery fixes for defects in some terms of Activision Blizzard Inc.'s $68.7 billion acquisition by Microsoft Corp. last year.
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September 03, 2024
Catching Up With Delaware's Chancery Court
Last week in Delaware's court of equity, an iconic rock band got a new member, former President Donald Trump's social media company escaped a contempt ruling, and litigation grew over Illumina Inc.'s $8 billion reacquisition of cancer-testing company Grail Inc. New cases touched on intellectual property, mergers, share transfers and dump trucks. In case you missed it, here's the latest from Delaware's Court of Chancery.
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September 03, 2024
Home Solar Panel Co. Lumio Hits Ch. 11 To Sell Assets
Residential solar panel provider Lumio Holdings filed for Chapter 11 protection in Delaware on Tuesday, with up to $500 million in debt and a plan to sell all of its assets to its major lender.
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August 30, 2024
Chancery Prunes $2.1M From Atty Fee Bid In Sculptor Merger
Class attorneys who helped secure a 14.4%, or $80.8 million, improvement in proceeds from Sculptor Capital Management's sale to Rithm Capital Corp. — plus a $6.5 million common fund — saw their $5.75 million fee proposal cut to $3.6 million in Delaware's Court of Chancery Friday.
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August 30, 2024
$100M Deal Finally Ends MoneyGram Unclaimed Property Fight
Delaware will be giving back more than $100 million from uncashed MoneyGram checks to the states where they were bought after finally reaching a settlement with 29 other states that took the matter all the way to the U.S. Supreme Court.
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August 30, 2024
Vyaire Medical Gets OK For $90M Sale Of Business Units
A Delaware bankruptcy judge Friday approved the $90.5 million sale of ventilator maker Vyaire Medical's businesses, overriding creditor arguments that a deal with lenders apportioning the sale proceeds would leave Vyaire too little cash to get to the end of its Chapter 11 case.
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August 30, 2024
3rd Circ. Won't Touch Pipeline Workers' Appeal In OT Suit
The Third Circuit said Friday it doesn't have jurisdiction over a pipeline company's challenge to a discovery order limited to the issue of the arbitrability of two pipeline inspectors' wage claims, ruling that the challenged order isn't appealable under the Federal Arbitration Act.
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August 30, 2024
Real Estate Recap: RealPage, Vacancies, New Construction
Catch up on this week's key developments by state from Law360 Real Estate Authority — including interpretation of the RealPage antitrust suit, the latest on U.S. office vacancies and plans for a new Miami tower.
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August 30, 2024
Del. Judge Finds Exception To Absolute Litigation Shield
An "absolute litigation privilege" barring lawsuits targeting defamation related to court action in Delaware doesn't block involuntary LLC share repurchase demands triggered by a terminated subsidiary officer's alleged defamatory statements, a Delaware judge has ruled.
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August 30, 2024
Actors Say AI Co. ElevenLabs Cloned Their Voices
Two professional audiobook narrators have sued speech synthesis software company ElevenLabs Inc. in Delaware federal court, saying the company used generative artificial intelligence to clone their voices without consent or compensation and is now profiting by letting customers use their voice clones "Bella" and "Adam" for free.
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August 30, 2024
Another Biz Owner Called To Appear In Judge's Patent Probe
U.S. District Judge Colm F. Connolly has ordered the owner of another business affiliated with patent litigation funding outfit IP Edge and its affiliate Mavexar to appear before him amid his probe into possible fraud he says may have been perpetrated on the Delaware federal court in certain infringement cases.
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August 30, 2024
Fla. Judge Won't Block Sale Of 18M Truth Social Co. Shares
A Florida judge on Friday denied a request by Donald Trump's Truth Social to block the sale of 18 million shares by two of the company's co-founders, finding that the company would not be irreparably harmed by having to rely on a damages remedy if the sale goes through.
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August 30, 2024
FTX Exec Drops Bid To Undo Plea Amid Partner's Indictment
Former FTX executive Ryan Salame is no longer seeking to vacate his guilty plea that he says Manhattan federal prosecutors induced with a false promise to halt a campaign finance probe into his partner Michelle Bond, though his claims that they broke their word will still be litigated before two different judges.
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August 29, 2024
IBM Unit's Repurchase Not Blocked By Del. Litigation Privilege
An International Business Machines Corp. affiliate can enforce a stake repurchase option against a former executive suing the company, a Delaware judge ruled Thursday, saying statements he made in legal filings can trigger the repurchase provision in his nondisparagement agreement.
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August 29, 2024
Fed. Circ. Gives Philips Another Chance In Networking IP Row
The Federal Circuit on Thursday ordered the Patent Trial and Appeal Board to take another look at arguments from Dutch electronics giant Philips seeking to keep a networking patent alive, deciding that the board was "too conclusory" the first time.
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August 29, 2024
Lannett Says Areva Reneged On Cancer-Drug Deal After Ch. 11
Lannett Pharmaceuticals hit generic-drug maker Areva Pharmaceuticals with a contract suit in Delaware's Court of Chancery on Thursday, accusing Areva of breaching their 2022 agreement that gave Lannett exclusive rights to distribute Areva's injectable anticancer drug after Lannett emerged from a prepackaged Chapter 11 bankruptcy.
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August 29, 2024
Chancery Gavels In Ex-Jurist As Band Journey's Custodian
Retired Delaware Vice Chancellor Joseph R. Slights III has taken a court-ordered, tie-breaking, front-row seat in the recently messy business of managing the iconic rock band Journey, with the lead bandmates sending up a few sour notes just ahead of the choice.
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August 29, 2024
Judiciary Group Urged To Table 'Mega' Bankruptcy Panel Ban
A subcommittee urged the Judicial Conference's bankruptcy rule advisory committee to hold off on considering a ban on so-called mega bankruptcy panels at an upcoming meeting, saying a different committee's work overlaps with a rule proposed to curb the controversial practice.
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August 29, 2024
Class Attys Seek Chancery Doc Sanctions In Santander Suit
An attorney for Santander Consumer USA Holdings Inc. stockholders urged a Delaware vice chancellor Thursday to exercise the court's "common law" document retention enforcer role during arguments for sanctions against the big auto lender's board, controller and parent for deleting messages before a $2.5 billion minority squeeze-out merger.
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August 29, 2024
GM Can't Shake Off Shuddering-Transmission Class
General Motors must face class allegations that it knowingly sold vehicles with defective transmissions that cause the vehicles to shake and shudder while being driven, a Sixth Circuit panel ruled Wednesday, finding no reason to undo class certification for the drivers.
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August 29, 2024
SunPower Eyes Sept. Auction As IP Objection Nixed For Now
A Delaware bankruptcy judge on Thursday overruled an objection to bidding procedures for the assets of residential solar technology company SunPower Corp. from a former subsidiary, finding the dispute over use of the SunPower brand should be heard later.
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August 29, 2024
Del.'s Richards Layton Starts Arbitration, Mediation Practice
Richards Layton & Finger PA has announced the launch of an arbitration and mediation practice to bolster its alternative dispute resolution services to better serve its clients.
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August 28, 2024
CyDex Says Bexson Breached Deal By Misusing Pharma IP
CyDex Pharmaceuticals hit Bexson Biomedical with a contract breach suit in Delaware Chancery Court accusing it of misusing a CyDex-designed molecule to develop unauthorized non-ketamine formulations, and subsequently filing a patent for those formulations, in violation of the parties' agreement.
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August 28, 2024
Hunter Biden's Addiction Expert Knocked Out Of Tax Trial
A California federal judge on Tuesday barred Hunter Biden's expected addiction expert from testifying in his upcoming trial on tax charges, saying the expert's opinions hadn't been clearly linked to the specifics of Biden's own struggle.
Expert Analysis
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1869 Case May Pave Off-Ramp For Justices In Trump DQ Fight
In deciding whether former President Donald Trump is disqualified from Colorado's Republican primary ballots, the U.S. Supreme Court could rely on due process principles articulated in a Reconstruction-era case to avert a chaotic or undemocratic outcome, says Gordon Renneisen at Cornerstone Law Group.
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Series
Playing Competitive Tennis Makes Me A Better Lawyer
My experience playing competitive tennis has highlighted why prioritizing exercise and stress relief, maintaining perspective under pressure, and supporting colleagues in pursuit of a common goal are all key aspects of championing a successful legal career, says Madhumita Datta at Lowenstein Sandler.
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The Questions Around Prometheum's SEC-Compliant Strategy
While the rest of the crypto industry has been engaged in a long-running battle to escape the U.S. Securities and Exchange Commission's jurisdiction, a once-obscure startup called Prometheum has instead embraced the SEC's view to become the first crypto special-purpose broker-dealer, but it's unclear whether it can turn its favored status into a workable business, says Keith Blackman at Bracewell.
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NY, Del. May Be Trending Against Noncompete Enforceability
While neither New York nor Delaware has statutory restrictions on noncompete provisions, recent legislative actions and judicial decisions indicate a trend against enforcement of restrictive covenants in both equity award and employment agreements, says Irene Bassock at Cohen Buckmann.
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Series
The Pop Culture Docket: Judge Djerassi On Super Bowl 52
Philadelphia Court of Common Pleas Judge Ramy Djerassi discusses how Super Bowl 52, in which the Philadelphia Eagles prevailed over the New England Patriots, provides an apt metaphor for alternative dispute resolution processes in commercial business cases.
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Del. Ruling Features Valuable Analysis For IPR Estoppel Args
Last month, the District Court of Delaware held in Prolitec v. ScentAir Technologies that IPR estoppel does not apply to device art, and the analysis in the case provides welcome illumination for how IPR estoppel arguments should be decided, says Chris Ponder at Sheppard Mullin.
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Del. Dispatch: Efforts Clause Trumps Contractual Right
The Delaware Court of Chancery's Chordia v. Lee ruling this month — that the efforts clause set forth in a stockholders' agreement overrode the acquired company's right to fire its officers and employees — highlights key considerations for parties in such agreements to avoid post-acquisition disputes, say attorneys at Fried Frank.
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Employee Experience Strategy Can Boost Law Firm Success
Amid continuing business uncertainty, law firms should consider adopting a holistic employee experience strategy — prioritizing consistency, targeting signature moments and leveraging measurement tools — to maximize productivity and profitability, says Haley Revel at Calibrate Consulting.
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Series
Competing In Triathlons Makes Me A Better Lawyer
While practicing law and competing in long-distance triathlons can make work and life feel unbalanced at times, participating in the sport has revealed important lessons about versatility, self-care and perseverance that apply to the office as much as they do the racecourse, says Laura Heusel at Butler Snow.
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Mitigating Compliance And Litigation Risks Of Evolving Tech
Amid artificial intelligence and other technological advances, companies must prepare for the associated risks, including a growing suite of privacy regulations, enterprising class action theories and consumer protection challenges, and proliferating disclosure obligations, say attorneys at Eversheds Sutherland.
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Where Justices Stand On Chevron Doctrine Post-Argument
Following recent oral argument at the U.S. Supreme Court, at least four justices appear to be in favor of overturning the long-standing Chevron deference, and three justices seem ready to uphold it, which means the ultimate decision may rest on Chief Justice John Roberts' vote, say Wayne D'Angelo and Zachary Lee at Kelley Drye.
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Precise Advance Notice Bylaws May Help Prevent Disputes
While the Chancery Court's December decision in Kellner v. AIM Immunotech shows that Delaware courts won't always uphold advance notice bylaws, and its willingness to selectively enforce or invalidate individual provisions doesn't create an incentive for companies to be surgical in their drafting, companies should nonetheless be precise when drafting such bylaws to avoid unnecessary disputes, say attorneys at Debevoise.
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The Competing Goals Of Environmental And Bankruptcy Laws
Recent economic pressures combined with environmental liabilities have led to some of the largest bankruptcy filings in U.S. history, meaning debtors and creditors should be aware of the challenges, conflicts and uncertainties that arise at the intersection of these two legal fields, say Andrew Gallo and Duke McCall at Morgan Lewis.
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Perspectives
6 Practice Pointers For Pro Bono Immigration Practice
An attorney taking on their first pro bono immigration matter may find the law and procedures beguiling, but understanding key deadlines, the significance of individual immigration judges' rules and specialized aspects of the practice can help avoid common missteps, says Steven Malm at Haynes Boone.
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Lessons From Country Singer's Personal Service Saga
Recent reports that country singer Luke Combs won a judgment against a Florida woman who didn’t receive notice of the counterfeit suit against her should serve as a reminder for attorneys on best practices for effectuating service by electronic means, say attorneys at Jenner & Block.