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Delaware
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May 31, 2024
Beasley Allen Wants J&J Subpoenas Nixed Amid Ethics Fight
The Beasley Allen Law Firm and a plaintiff steering committee in the Johnson & Johnson talc litigation blasted subpoenas directed at the firm and others aimed at turning up evidence of an alleged scheme to muster opposition to J&J's latest $6.5 billion bankruptcy plan.
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May 31, 2024
Del. Chancery Court Issues Another Round Of Rule Changes
Delaware's nationally important Chancery Court on Friday announced its latest round of revisions to modernize its rules to more closely align with federal civil procedure rules and make them more user-friendly for litigants.
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May 31, 2024
Del. Chancellor Questions 'Rush' To Amend Corporation Law
Weeks before the Delaware State Bar Association sent state lawmakers a draft bill explicitly allowing corporations to broadly cede some governance rights to chosen stockholders, Chancellor Kathaleen St. J. McCormick of Delaware Chancery Court made an unprecedented, direct appeal to think twice.
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May 30, 2024
Ex-FTX Auditor Must Face SEC's Independence Rules Suit
The former auditor of Sam Bankman-Fried's defunct cryptocurrency exchange FTX must face the U.S. Securities and Exchange Commission's claims it violated auditor independence rules while collecting $3 million in fees from clients, a Florida federal judge has ruled, finding the agency's allegations establish severe recklessness.
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May 30, 2024
Chancery Sweeps Away Most Challenges To Broker's Control
Independent insurance distributor BRP Group Inc. has defeated most stockholder challenges to founder preapproval requirements for company actions, according to a Delaware Court of Chancery ruling upholding a consent and defense agreement established after the company was sued.
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May 30, 2024
Grocery Automation Biz Files Ch. 11 With $13M In Debt
E-grocery automation system maker Takeoff Technologies filed for Chapter 11 protection Thursday in Delaware bankruptcy court with nearly $13 million in debt, saying that, after eight years in business, it had been unable to generate the cash flow it needed to turn a profit.
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May 30, 2024
Chancery Rejects Do-Over Of THC-Drink Co. Legal Fee Fight
Two directors of a cannabis-infused drink startup who sued the Minnesota-based company for unpaid legal fees will not get a second chance to argue that they deserve more than what the court already awarded, Delaware's Court of Chancery said Thursday.
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May 30, 2024
Terraform, SEC Reach 'Settlement In Principle' In Crypto Case
Crypto firm Terraform Labs and its creator Do Kwon appear to have reached an agreement with the U.S. Securities and Exchange Commission to settle remedies after the firm and its founder were held liable for fraud by a Manhattan jury.
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May 30, 2024
The 'Not-Postings' Of A Delaware Chancery Court Judge
Close observers of Delaware's Court of Chancery have recently gotten a new window into the First State's preeminent court of equity: Delaware Vice Chancellor J. Travis Laster, one of seven judges on the court's bench, has recently rejoined LinkedIn.
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May 29, 2024
Chancery Sends Momentus De-SPAC Claims Toward Trial
A Delaware vice chancellor refused to dismiss any counts Wednesday in a suit filed by investors in the special purpose acquisition company that took commercial space venture Momentus Inc. public in August 2021, with the court noting that the case will be judged on plaintiff friendly entire fairness standards.
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May 29, 2024
Split 3rd Circ. Affirms Court's Revision To $10M SEC Deal
A split Third Circuit panel has affirmed a district court's decision to revise a nearly $10 million consent judgment between the U.S. Securities and Exchange Commission and a man it accused of misappropriating millions from a private equity fund after he was found in contempt of the judgment.
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May 29, 2024
Bankrupt EV Charger Co. Execs Hid Liquidity Woes, Suit Says
Three current and former executives of bankrupt electric-vehicle charging infrastructure company Charge Enterprises Inc. face an investor's proposed class action claiming the executives concealed a liquidity crisis involving the company's founder and his investment advisory firm that allegedly precipitated Charge's bankruptcy.
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May 29, 2024
Celadon Execs Seek Toss Of TA Dispatch Chancery Suit
Former executives of now-defunct Celadon Group Inc. who sold its business assets a few months before the transport and logistics company went bankrupt told Delaware's Court of Chancery on Wednesday that a lawsuit from the disgruntled Alabama buyer should be dismissed because it lacks specifics and rehashes already-settled claims.
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May 29, 2024
PJM Watchdog Challenges FERC's Meeting Roadblock
Monitoring Analytics, the independent market monitor for regional transmission organization PJM Interconnection, is asking the D.C. Circuit to review a Federal Energy Regulatory Commission order from March allowing PJM to keep the monitor out of its liaison committee meetings.
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May 29, 2024
Fed. Circ. Backs Claim Invalidity In Express Mobile Web Patent
The Federal Circuit has backed a Patent Trial and Appeal Board decision that a single claim of an Express Mobile website generation patent was invalid as obvious based on earlier inventions.
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May 29, 2024
Chancery Pins Down Musk, Tesla On Pay Bid, Del. Jurisdiction
Delaware's chancellor has nailed Elon Musk, Tesla Inc. and their counsel to assurances that the company won't flee state corporate law jurisdiction and a potentially massive stockholder attorney fee dispute by rushing votes on a struck-down, $56 billion compensation plan for Musk and proposed reincorporation in Texas.
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May 28, 2024
Chancery Finds Ex-CEO Owed $79M For Share Lockup Losses
The former CEO of a 3D building imaging company is owed more than $79 million in damages in his share value suit against the company, but not the more than $141 million he sought, the Delaware Chancery Court ruled Tuesday.
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May 28, 2024
Abbott, Dexcom Call For New Glucose Monitor Patent Trial
Just over two months after a jury in Wilmington, Delaware, handed down a mixed verdict in a patent lawsuit over glucose monitors, both sides are now asking the judge to give them another trial.
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May 28, 2024
Chancery Tosses Some Computing Co. Deal Breach Claims
Delaware's Court of Chancery on Tuesday thinned out the tangled technology investor brawl that emerged from Quantum Computing Inc.'s acquisition of QPhoton LLC in May 2022, dismissing individual parties from the case and narrowing claims against the two companies.
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May 28, 2024
States, Greens Want Judgment Over USPS' New Vehicle Plan
Environmentalists and a coalition of 17 states called on a California federal judge to grant them judgment in litigation alleging the U.S. Postal Service violated the National Environmental Policy Act when it decided to replace its aging delivery fleet with "gas-guzzling vehicles."
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May 28, 2024
Juul Gets PTAB To Examine Rival's Vape Patents
The Patent Trial and Appeal Board has sided with Juul Labs Inc. in a trio of decisions over electronic vape technology, refusing to review one of its patents while granting the company's challenges to two patents owned by another business.
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May 28, 2024
Catching Up With Delaware's Chancery Court
Delaware Court of Chancery watchers shifted their focus last week from the courtroom to Dover's legislative hall, as proposed amendments to Delaware's corporate code were finally introduced to state lawmakers. Hearings, decisions and reversals involved Kraft-Heinz, AMC Entertainment and the merger of cryptocurrency companies BitGo and Galaxy. In case you missed it, here's the latest from Delaware's Chancery Court.
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May 28, 2024
Del. Justices Say Interest Includes Prejudgment Interest
Delaware's top court ruled Tuesday that accrued interest on judgments must include prejudgment interest, in a ruling on a $36 million Delaware Superior Court jury verdict in February 2023 favoring institutional broker-adviser LCT Capital in a merger services dispute with NGL Energy Partners.
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May 28, 2024
Beasley Allen, J&J Trade Barbs Over DQ Bid In Talc Litigation
Johnson & Johnson and the Beasley Allen Law Firm have accused each other by turns of "gamesmanship" and "unscrupulous conduct" in New Jersey courts in a fight over whether the firm should be disqualified from talcum powder litigation for allegedly collaborating in secret with a former J&J outside counsel.
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May 28, 2024
Feds Push Back At Hunter Biden's 2nd Bid To Ditch Gun Case
Special counsel for the government urged the Third Circuit to deny Hunter Biden's second attempt to appeal a Delaware federal judge's refusal to dismiss his felony firearm charges, stating Biden's interpretation of guiding precedent would "swallow the final judgment rule whole."
Expert Analysis
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Attorneys' Busiest Times Can Be Business Opportunities
Attorneys who resolve to grow their revenue and client base in 2024 should be careful not to abandon their goals when they get too busy with client work, because these periods of zero bandwidth can actually be a catalyst for future growth, says Amy Drysdale at Alchemy Consulting.
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In The World Of Legal Ethics, 10 Trends To Note From 2023
Lucian Pera at Adams and Reese and Trisha Rich at Holland & Knight identify the top legal ethics trends from 2023 — including issues related to hot documents, artificial intelligence and cybersecurity — that lawyers should be aware of to put their best foot forward.
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Del. Dispatch: The 2023 Corporate Cases You Need To Know
Corporate and mergers and acquisitions litigation has continued at a fevered pace this year, with the Delaware courts addressing numerous novel issues with important practical implications, including officer exculpation and buyer aiding-and-abetting liability, say attorneys at Fried Frank.
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How Attorneys Can Be More Efficient This Holiday Season
Attorneys should consider a few key tips to speed up their work during the holidays so they can join the festivities — from streamlining the document review process to creating similar folder structures, says Bennett Rawicki at Hilgers Graben.
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The 4 Top Philadelphia Commerce Court Opinions Of 2023
Four 2023 rulings from the Philadelphia County Court of Common Pleas — including decisions on judicial privilege, stay requests, sheriff's sales and the appointment of a receiver — highlight the court's commitment to stringent standards and address evolving challenges in commercial litigation, say Jonathan Hugg and Sarah Boutros at Eckert Seamans.
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Understanding Advance Notice Bylaws Is Key For All Parties
Recent developments in Delaware case law show that advance notice bylaws will be strictly construed and that Delaware courts will generally uphold clear, unambiguous bylaws adopted and applied reasonably, a lesson for both companies and stockholders alike as the number of companies rejecting director nominations by dissident stockholders has increased, say attorneys at MoFo.
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Series
Children's Book Writing Makes Me A Better Lawyer
Becoming a children's book author has opened doors to incredible new experiences of which I barely dared to dream, but the process has also changed my life by serving as a reminder that strong writing, networking and public speaking skills are hugely beneficial to a legal career, says Shaunna Bailey at Sheppard Mullin.
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Del. Ruling Shows Tension Between 363 Sale And Labor Law
The Delaware federal court's ruling in the Braeburn Alloy Steel case highlights the often overlooked collision between an unstayed order authorizing an asset sale free and clear of successor liability under Section 363 of the Bankruptcy Code and federal labor law imposing successor liability on the buyer, say attorneys at Proskauer.
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How Clients May Use AI To Monitor Attorneys
Excerpt from Practical Guidance
Artificial intelligence tools will increasingly enable clients to monitor and evaluate their counsel’s activities, so attorneys must clearly define the terms of engagement and likewise take advantage of the efficiencies offered by AI, says Ronald Levine at Herrick Feinstein.
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Del. Insurance Co. Liquidation Reveals Recovery Strategies
Arrowood's recent liquidation in the Delaware Chancery Court offers a positive development for policyholders and claimants, providing access to guaranty association protections amid the company's demise, say Timothy Law and Ann Kramer at Reed Smith.
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What 3rd Circ. Gets Wrong About Arbitration Enforcement
The Third Circuit and other courts should correct their current law, exemplified by the Third Circuit's recent decision in Henry v. Wilmington Trust, requiring a motion to dismiss based on an arbitration clause because it conflicts with the Federal Arbitration Act, the Federal Rules of Civil Procedure, and — with regard to the improper-venue approach — U.S. Supreme Court precedent, says David Cinotti at Pashman Stein.
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Series
The Pop Culture Docket: Judge D'Emic On Moby Grape
The 1968 Moby Grape song "Murder in My Heart for the Judge" tells the tale of a fictional defendant treated with scorn by the judge, illustrating how much the legal system has evolved in the past 50 years, largely due to problem-solving courts and the principles of procedural justice, says Kings County Supreme Court Administrative Judge Matthew D'Emic.
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The Key To Defending Multistate Collective FLSA Claims
Federal circuit courts are split on the reach of a court's jurisdiction over out-of-state employers in Fair Labor Standards Act collective actions, but until the U.S. Supreme Court agrees to review the question, multistate employers should be aware of a potential case-changing defense, say Matthew Disbrow and Michael Dauphinais at Honigman.
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Series
Performing Music Makes Me A Better Lawyer
The discipline of performing live music has directly and positively influenced my effectiveness as a litigator — serving as a reminder that practice, intuition and team building are all important elements of a successful law practice, says Jeff Wakolbinger at Bryan Cave.
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Breaking Down High Court's New Code Of Conduct
The U.S. Supreme Court recently adopted its first-ever code of conduct, and counsel will need to work closely with clients in navigating its provisions, from gift-giving to recusal bids, say Phillip Gordon and Mateo Forero at Holtzman Vogel.