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Delaware
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April 18, 2024
Conoco Tells 3rd Circ. It Can Target Citgo For $8.5B Award
ConocoPhillips urged the Third Circuit to nix Venezuela's challenge to a ruling paving the way for the oil company's participation in an auction for control of the U.S. oil giant Citgo to enforce an $8.5 million debt, arguing that the country can't prove that it's been acting in bad faith.
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April 18, 2024
Chancery OKs Case Lead For Blue Bell Creameries Suit
A Delaware vice chancellor on Thursday restored a Blue Bell Creameries Inc. stockholder's widow as lead plaintiff in a derivative suit seeking to hold directors and officers of the ice cream company accountable for deadly food-safety oversight failures in 2015.
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April 18, 2024
Senate Bill Would Extend Small Biz Ch. 11 Debt Cap Increase
A bipartisan group of U.S. senators are pushing new legislation that would prevent the current $7.5 million debt eligibility cap for Subchapter V bankruptcies, a simplified Chapter 11 process for small businesses and individuals, from reverting to the previous limit of $2.7 million in June.
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April 18, 2024
Investors In Failed Manila Casino Deal Sue For SPAC Shares
Shareholders in a blank-check company that failed to take a Philippines casino public have intervened in two Delaware Chancery Court lawsuits to recoup their failed investments, with one seeking to litigate damages from the busted $2.6 billion deal and the other pushing for the company's liquidation.
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April 18, 2024
3rd Circ. Unclear If 'Session Replay' Web Code Directed At Pa.
A Third Circuit panel seemed torn Thursday over whether websites like those of Papa John's or Mattress Firm "directed conduct" at Pennsylvania when they ran "session replay" software to track users' visits and whether that gave courts in the Keystone State jurisdiction over users' claims that such tracking violated laws against wiretapping.
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April 18, 2024
Biotech Co. NanoString Lands $393M Bid At Ch. 11 Auction
Scientific instrument maker Bruker Corp. is set to acquire insolvent biotechnology company NanoString for roughly $393 million in cash that would be used to repay creditors under the debtor's recently proposed Chapter 11 plan, a notice filed in Delaware's bankruptcy court shows.
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April 18, 2024
3rd Circ. Hesitates To Hear Hunter Biden Appeal In Gun Case
The Third Circuit suggested it may be premature to hear Hunter Biden's appeal of a Delaware federal court's denial of his three motions to dismiss felony firearm charges.
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April 17, 2024
PTC Therapeutics Settles Shareholder Suit Over Director Pay
PTC Therapeutics Inc. has agreed to corporate governance reforms to settle a derivative shareholder lawsuit challenging its allegedly "lavish" non-employee director compensation awards, according to a stipulation of settlement filed Wednesday in Delaware's Court of Chancery.
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April 17, 2024
United Therapeutics Can't Bar Rival Lung Disease Drug
Repeating himself for the second time in the last several weeks, a federal judge in Delaware on Wednesday said he won't stop a biochemical startup from launching a drug that would compete directly with one of United Therapeutics' biggest pharmaceutical products.
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April 17, 2024
RTX Investor Sues Brass In Del. For Better Antitrust Oversight
A shareholder of RTX has sued the aerospace and defense giant's current and former officers and directors in Delaware's Court of Chancery, accusing them of failing over a period of at least eight years to prevent antitrust violations in the company's hiring practices.
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April 17, 2024
Karuna Investor Ends Suit After Bristol-Myers Seals $14B Deal
A Karuna Therapeutics shareholder has dropped her proposed class action after Bristol-Myers Squibb Co. completed its $14 billion purchase of the biotechology company, a deal the suit alleged was brought about by misrepresentations to investors to gain their support.
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April 17, 2024
Chancery Orders Invictus Fund Manager To Hand Over Docs
A distressed credit and special situations fund that has battled its general partner and investment manager for months to hand over key records and documents won a partial victory in Delaware's Court of Chancery Wednesday when a vice chancellor found "repeated interference" with the fund's rights to information.
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April 17, 2024
3rd Circ. Won't Reinstate NJ's 'County Line' Ballot
The Third Circuit on Wednesday backed a federal judge's order barring New Jersey's long-standing ballot design in the upcoming Democratic primary, finding that the unique design is discriminatory and severely burdens the rights of non-endorsed candidates.
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April 17, 2024
Liberty Mutual's Spyware Suit Halted Pending 3rd Circ. Appeal
A proposed class action accusing Liberty Mutual of using software to track customers' actions on its website without consent was put on hold Wednesday by a Pennsylvania federal judge pending guidance from the Third Circuit in a similar case.
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April 17, 2024
Port Authority Worker Takes Race Bias Suit To 3rd Circ.
A Black woman who claimed the Port Authority of New York and New Jersey didn't promote her because of her race and complaints about discrimination told the Third Circuit on Wednesday that a lower court ignored facts that should have worked in her favor when it dismissed her lawsuit.
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April 17, 2024
3rd Circ. Erases $10M Judgment In Car Charities' TM Dispute
The Third Circuit on Wednesday erased a $10 million judgment awarded to a charity that sells donated cars for children's education, saying a lower court made a series of errors in concluding that unreasonable delays did not bar claims from Texas-based America Can Cars for Kids in a trademark dispute with a similar charity.
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April 17, 2024
Jury Says Caterpillar's Interference Cost Equipment Co. $100M
A jury in Delaware has rejected antitrust claims against Caterpillar but found that the equipment maker caused a defunct importer $100 million in damages by interfering with its contract to sell equipment through an online sales platform.
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April 17, 2024
Bankman-Fried Appeal May Cite Unusual Preview Testimony
Sam Bankman-Fried's appeal of his conviction and 25-year prison sentence may cite a "rather unprecedented" trial procedure in which the FTX founder gave provisional testimony before officially taking the witness stand last year, one of his attorneys said Wednesday.
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April 17, 2024
Tesla To Vote On Reviving Musk's $55B Pay, Moving To Texas
Attorneys for Tesla Inc. notified Delaware's chancellor Wednesday that the company will seek stockholder approval June 13 for the same $55.8 billion Elon Musk compensation plan voided by Chancery Court on Jan. 30, along with reincorporation of Tesla as a Texas company.
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April 17, 2024
Elliott Waives BioMarin Board Deal, Moots Del. Suit
Elliott Investment Management LP has waived an agreement with BioMarin Pharmaceutical Inc. that gave the activist investor three new seats on the biopharmaceutical company's board, mooting a Delaware Chancery Court lawsuit that a BioMarin shareholder filed earlier this month.
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April 16, 2024
9th Circ. Upholds Tossing Skillz Gaming Tech Investor Suit
The Ninth Circuit on Tuesday upheld a decision to toss a proposed class action claiming that mobile gaming company Skillz Inc. misled investors about its technology prior to a 2021 merger with a special purpose acquisition company, ruling that issues with the gaming software do not make the company' statements false or misleading.
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April 16, 2024
Chancery Orders Closer Look At Crown Castle Proxy Moves
A Delaware vice chancellor has ordered a preliminary injunction hearing ahead of a contested board proxy vote for cell tower operator Crown Castle Inc., after the company's co-founder objected to Crown's unilateral addition of an extra, filled board seat in the midst of a proxy fight.
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April 16, 2024
Terraform Creditors Say All Clear To Hire Crypto Tracing Firm
The creditors committee for bankrupt cryptocurrency startup Terraform Labs Pte. Ltd. said on Tuesday it had resolved the only issues the U.S. Trustee's Office had with the committee's request to hire an investment bank to advise it on tracing cryptocurrency in Terraform's Chapter 11 case.
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April 16, 2024
Buttigieg, State AGs To Probe Consumer Airline Complaints
Transportation Secretary Pete Buttigieg on Tuesday announced a new partnership with Colorado and over a dozen other states to investigate consumer complaints about air travel, vowing to hold airlines and ticket agents accountable for excessive flight cancellations and unfair business practices.
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April 16, 2024
3rd Circ. Cuts Claims In Geico Vehicle Value-Adjustment Suit
A New Jersey couple can't bring class-action claims against Geico over it allegedly knocking too much off the payout value on totaled cars, since the company ultimately adjusted their personal claim settlement offer upward, a Third Circuit panel has ruled.
Expert Analysis
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To Hire And Keep Top Talent, Think Beyond Compensation
Firms seeking to appeal to sophisticated clients and top-level partners should promote mentorship, ensure that attorneys from diverse backgrounds feel valued, and clarify policies about at-home work, says Patrick Moya at Quaero Group.
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What Circuit Split May Mean For FCA Kickback Liability
The recent circuit split on the meaning of the resulting-from provision in False Claims Act kickback cases could have significant ramifications for FCA liability, as it could affect the standard of causation that plaintiffs must meet to establish liability, say former federal prosecutors Li Yu, Ellen London and Gregg Shapiro.
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Perspectives
More States Should Join Effort To Close Legal Services Gap
Colorado is the most recent state to allow other types of legal providers, not just attorneys, to offer specific services in certain circumstances — and more states should rethink the century-old assumptions that shape our current regulatory rules, say Natalie Anne Knowlton and Janet Drobinske at the University of Denver.
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Identifying Trends And Tips In Litigation Financing Disclosure
Growing interest and controversy in litigation financing raise several salient concerns, but exploring recent compelled disclosure trends from courts around the country can help practitioners further their clients' interests, say Sean Callagy and Samuel Sokolsky at Arnold & Porter.
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10 Legal Subject Matters Popping Up In AI Litigation
The past five years have brought judicial opinions addressing artificial intelligence in many different legal areas, so a study of existing case law is an important first step for in-house counsel addressing how to advise on the uncertainty driving many of the AI legal disputes, says Mark Davies at Orrick.
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Series
The Pop Culture Docket: Judge Elrod On 'Jury Duty'
Though the mockumentary series “Jury Duty” features purposely outrageous characters, it offers a solemn lesson about the simple but brilliant design of the right to trial by jury, with an unwitting protagonist who even John Adams may have welcomed as an impartial foreperson, says Fifth Circuit Judge Jennifer Elrod.
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4 Business-Building Strategies For Introvert Attorneys
Excerpt from Practical Guidance
Introverted lawyers can build client bases to rival their extroverted peers’ by adapting time-tested strategies for business development that can work for any personality — such as claiming a niche, networking for maximum impact, drawing on existing contacts and more, says Ronald Levine at Herrick Feinstein.
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Opinion
3 Ways Justices' Disclosure Defenses Miss The Ethical Point
The rule-bound interpretation of financial disclosures preferred by U.S. Supreme Court Justices Samuel Alito and Clarence Thomas — demonstrated in their respective statements defending their failure to disclose gifts from billionaires — show that they do not understand the ethical aspects of the public's concern, says Jim Moliterno at the Washington and Lee University School of Law.
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Despite Fears, American Axle Is Rarely Used To Nix Patents
When the Federal Circuit decided American Axle v. Neapco, invalidating claims as being directed to ineligible subject matter under Section 101, practitioners feared the decision would affect the eligibility and validity of mechanical patents under the section, a fear that recent research shows hasn't been borne out, say Ryan Schermerhorn, Christopher Zahn and Daniela Dulworth at Marshall Gerstein.
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Del. Ruling May Signal New Era Of Board Accountability
The Delaware Supreme Court's recent ruling in Coster v. UIP unifies the Schnell, Unocal and Blasius standards and requires boards to prove the reasonableness of their actions that affect stockholder votes, which will likely make it more difficult for boards to interfere with contested director elections, say attorneys at Debevoise.
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What Courts' Deference Preference Can Mean For Sentencing
The Fifth Circuit’s recent U.S. v. Vargas decision deepens the split among federal appeals courts on the level of deference afforded to commentary in the U.S. sentencing guidelines — an issue that has major real-life ramifications for defendants, and is likely bound for the U.S. Supreme Court, say Jennifer Freel and Michael Murtha at Jackson Walker.
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Caregiver Flexibility Is Crucial For Atty Engagement, Retention
As the battle for top talent continues post-pandemic, many firms are attempting to attract employees with progressive hybrid working environments — and supporting caregivers before, during and after an extended leave is a critically important way to retain top talent, says Manar Morales at The Diversity & Flexibility Alliance.
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How A Union Fight Played A Key Role In Yellow's Bankruptcy
Finger-pointing between company and union representatives appears to be front and center at the early stages of trucking company Yellow’s bankruptcy case, highlighting the failed contract negotiations' role in the company's demise, says George Singer at Holland & Hart.
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What To Watch As Justices Take Up Title VII Job Transfer Case
With its recent decision to hear Muldrow v. City of St. Louis, the U.S. Supreme Court has agreed to decide whether an involuntary job transfer can count as employment discrimination under Title VII — an eventual ruling that has potential to reshape workplace bias claims nationwide, says Adam Grogan at Bell Law Group.
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In-Office Engagement Is Essential To Associate Development
As law firms develop return-to-office policies that allow hybrid work arrangements, they should incorporate the specific types of in-person engagement likely to help associates develop attributes common among successful firm leaders, says Liisa Thomas at Sheppard Mullin.