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Delaware
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October 15, 2024
Walmart, Execs Settle Chancery Opioid Suit For $123M
Walmart and its directors and officers have agreed to a $123 million deal to end a stockholder class derivative lawsuit in Delaware's Court of Chancery that accused the nationwide retailer of multiyear opioid prescription oversight failures, potentially resolving class claims dating to early 2020.
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October 15, 2024
3rd Circ. Won't Reinstate Exxon OSHA Whistleblowers
A Third Circuit panel declined Tuesday to enforce an order reinstating two former Exxon Mobil Corp. analysts who claim they were fired after The Wall Street Journal published a report claiming the company overestimated its earnings by billions of dollars, similar to concerns the plaintiffs raised internally before the news report.
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October 15, 2024
Delaware Justice Vaughn Remembered As 'A True Gentleman'
Retired Delaware Supreme Court Justice James T. Vaughn Jr., who died last week at 75, is being remembered as a dedicated, practical and skilled jurist with a "warmhearted disposition" who loved serving his state's judiciary for more than two decades.
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October 15, 2024
Qorvo Follows $39M Jury Win With Trade Secrets Purge Order
A federal judge said wireless company Qorvo Inc. is entitled to permanent injunctions blocking Akoustis Technologies Inc. from infringing two acoustic wave resonator patents and another order requiring the "purging" of all misappropriated trade secrets from Akoustis' systems on top of a $39 million verdict in favor of the business.
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October 15, 2024
Pair Convicted In Baccarat Cheating Scheme At Mass. Casino
A Massachusetts jury has convicted a baccarat dealer and a player on charges that they cheated a Boston-area casino out of $15,000, according to the state attorney general's office.
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October 15, 2024
Law Firms Diverge As Anti-ESG Pushback Continues
A continuing onslaught of legislation and litigation opposing corporate environmental, social and governance actions has created a fork in the road for law firms, with some choosing to scale back efforts and others pushing ahead with their internal ESG and diversity, equity and inclusion goals.
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October 15, 2024
The 2024 Law360 Pulse Social Impact Leaders
Check out our Social Impact Leaders ranking, analysis and interactive graphics to see which firms stand out for their engagement with social responsibility and commitment to pro bono service.
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October 15, 2024
Wheel Pros Gets OK For $1.4B Equity-Swap Ch. 11 Plan
A Delaware bankruptcy judge on Tuesday approved automotive wheel company Wheel Pros LLC's prepackaged Chapter 11 plan to swap $1.4 billion in senior secured debt for controlling equity in the company.
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October 15, 2024
True Value Hardware Hits Ch. 11 With $153M Asset Sale Plan
The 75-year-old hardware retailer True Value Co. LLC filed for Chapter 11 protection in Delaware bankruptcy court, with its plan to sell all assets to industry rival Do It Best Corp.
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October 14, 2024
Permira Wraps $7.2B Deal For Squarespace Amid Litigation
Private equity firm Permira said Monday that it has successfully bought the outstanding stock of Squarespace Inc. in its proposed $7.2 billion deal to take the website builder private, amid ongoing shareholder litigation in the U.S. challenging the transaction.
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October 11, 2024
Real Estate Recap: Rating Climate Risk, Window Tech, Towers
Catch up on this past week's key developments by state from Law360 Real Estate Authority — including a data-driven look at how climate risk is calculated for property owners, what one proptech company is doing to improve high-rise window-washing, and a new tracker following the tallest tower projects in the United States.
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October 11, 2024
Apple Watch Patents Dodge Ax As Masimo Jury Trial Nears
A Delaware federal judge has refused to invalidate Apple Inc.'s smartwatch patents being challenged by health technology company Masimo Corp. ahead of this month's jury trial over whether the tech behemoth infringed Masimo's pulse oximetry technology patents.
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October 11, 2024
Electric Vehicle Maker Fisker Cleared To Exit Chapter 11
Electric car maker Fisker Inc. is set to exit Chapter 11 after a Delaware bankruptcy judge on Friday ruled that opt-out forms sent during plan voting showed creditor consent for third-party releases, but that shareholders who didn't vote on the plan hadn't agreed to the releases.
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October 11, 2024
IBM Unit Wants To Undo 'Troubling' Defamation Case Ruling
An IBM unit has asked the Fourth Circuit to revive its lawsuit alleging a former executive's defamatory statements nearly killed a major acquisition, arguing that a lower court attempted to inject a new standard into its analysis.
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October 11, 2024
Dem AGs Urge Judge To Rule Now On FDA Abortion Pill Regs
Washington and 16 other states with Democratic attorneys general are pressing a federal judge to force the U.S. Food and Drug Administration to lift restrictions on access to mifepristone, arguing that the agency is swayed by the controversy swirling around the abortion medication that has been proved to be safer than Tylenol, Viagra and insulin.
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October 11, 2024
New Squarespace Suit Filed For Take-Private Docs
A second shareholder of website builder Squarespace Inc. has sued in the Delaware Court of Chancery for books and records on the company's proposed $7.2 billion take-private deal with private equity giant Permira Advisors LLC, less than two weeks after the sidelining of an earlier books suit focusing on the same deal, which is set to expire late Oct. 11.
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October 11, 2024
Discount Chain's Equity Owner Gets OK To Run Ch. 11 Sales
A Delaware bankruptcy judge Friday gave discount retailer Channel Control Merchants permission to use an affiliate of its majority shareholder to run the going-out-of-business sales in its Chapter 11 case.
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October 11, 2024
3rd Circ. Won't Deem Bus Driver's Migraines FMLA-Eligible
A Pennsylvania public transit employee didn't have the requisite "serious health condition" to back his workplace retaliation claims under the federal Family Medical Leave Act, the Third Circuit ruled Friday, declining to reinstate a trial victory for the bus driver.
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October 11, 2024
BurgerFi Creditors Blast DIP, Bidding Procedures In Ch. 11
Unsecured creditors of restaurant chain BurgerFi Inc. are challenging the terms of its post-bankruptcy financing package and some of the details of its planned asset sale, saying the provisions will unfairly leave creditors with little to nothing in recoveries.
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October 11, 2024
Wheel-Maker Can Tap $20M Of $103M Ch. 11 Funding
A Delaware bankruptcy judge Friday agreed to allow wheel manufacturer Accuride Corp. to tap into up to $20 million of a $103 million debtor-in-possession financing package from its lenders as an interim measure, along with a slate of customary first-day requests.
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October 11, 2024
Off The Bench: NCAA's NIL Deal Advances, QB Settles Again
In this week's Off The Bench, the NCAA and the athletes suing it over name, image and likeness money satisfy a judge with their proposed settlement revisions, an NFL quarterback settles yet another sexual assault accusation, and a legal battle between the NFL and one of its former reporters ends amicably.
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October 10, 2024
IP Forecast: 5G Patent Case Spells Deja Vu For EDTX
A patent suit against a Chinese phone company will go before a new federal jury in the Eastern District of Texas after the judge scrapped the original $10.6 million verdict against it as excessive. Here's a spotlight on that case — plus all the other major intellectual property matters on deck in the coming week.
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October 10, 2024
Chancery OKs $9.5M Deal For Katapult SPAC Challenge
A $9.5 million deal settled a Delaware Court of Chancery stockholder suit Thursday seeking damages arising from a stock slump following the $883 million blank check company deal that took subprime consumer lender Katapult Holdings Inc. public in June 2021.
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October 10, 2024
Chancery OKs $125M Deal, Fees In Discovery Merger Suit
Declaring it "a great settlement," a Delaware vice chancellor approved on Thursday a near chart-topping, $125 million deal to end stockholder challenges to Discovery Inc.'s $43 billion merger with AT&T in 2022, an amount eclipsed only by a $148.2 million pretrial deal in a 2016 case.
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October 10, 2024
Discount Retailer Plans To Close Its Stores In Ch. 11
The parent of secondary market retail chain operator Channel Control Merchants on Thursday filed for Chapter 11 protection in Delaware bankruptcy court with more than $76 million in debt and plans to close its 68 locations by the end of the year.
Expert Analysis
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First-Of-Its-Kind Chancery Ruling Will Aid SPAC Defendants
The Delaware Chancery Court's first full dismissal of claims challenging a special purpose acquisition company transaction under the entire fairness doctrine in the recent Hennessy Capital Acquisition Stockholder Litigation establishes useful precedent to abate the flood of SPAC litigation, say Lisa Bugni and Benjamin Lee at King & Spalding.
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How To Clean Up Your Generative AI-Produced Legal Drafts
As law firms increasingly rely on generative artificial intelligence tools to produce legal text, attorneys should be on guard for the overuse of cohesive devices in initial drafts, and consider a few editing pointers to clean up AI’s repetitive and choppy outputs, says Ivy Grey at WordRake.
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Series
After Chevron: Various Paths For Labor And Employment Law
Labor and employment law leans heavily on federal agency guidance, so the U.S. Supreme Court’s decision to toss out Chevron deference will ripple through this area, with future workplace policies possibly taking shape through strategic litigation, informal guidance, state-level regulation and more, says Alexander MacDonald at Littler.
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Series
Boxing Makes Me A Better Lawyer
Boxing has influenced my legal work by enabling me to confidently hone the skills I've learned from the sport, like the ability to remain calm under pressure, evaluate an opponent's weaknesses and recognize when to seize an important opportunity, says Kirsten Soto at Clyde & Co.
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Opinion
Industry Self-Regulation Will Shine Post-Chevron
The U.S. Supreme Court's Loper decision will shape the contours of industry self-regulation in the years to come, providing opportunities for this often-misunderstood practice, says Eric Reicin at BBB National Programs.
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3 Ways Agencies Will Keep Making Law After Chevron
The U.S. Supreme Court clearly thinks it has done something big in overturning the Chevron precedent that had given deference to agencies' statutory interpretations, but regulated parties have to consider how agencies retain significant power to shape the law and its meaning, say attorneys at K&L Gates.
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Roundup
After Chevron
Since the U.S. Supreme Court overturned the Chevron deference standard in June, this Expert Analysis series has featured attorneys discussing the potential impact across 36 different rulemaking and litigation areas.
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Opinion
Atty Well-Being Efforts Ignore Root Causes Of The Problem
The legal industry is engaged in a critical conversation about lawyers' mental health, but current attorney well-being programs primarily focus on helping lawyers cope with the stress of excessive workloads, instead of examining whether this work culture is even fundamentally compatible with lawyer well-being, says Jonathan Baum at Avenir Guild.
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Series
Skiing And Surfing Make Me A Better Lawyer
The skills I’ve learned while riding waves in the ocean and slopes in the mountains have translated to my legal career — developing strong mentor relationships, remaining calm in difficult situations, and being prepared and able to move to a backup plan when needed, says Brian Claassen at Knobbe Martens.
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Class Actions At The Circuit Courts: June Lessons
In this month's review of class action appeals, Mitchell Engel at Shook Hardy considers two recent decisions from the Third and Tenth Circuits, and identifies practice tips around class action settlements and standing in securities litigation.
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Unpacking The Circuit Split Over A Federal Atty Fee Rule
Federal circuit courts that have addressed Rule 41(d) of the Federal Rules of Civil Procedure are split as to whether attorney fees are included as part of the costs of a previously dismissed action, so practitioners aiming to recover or avoid fees should tailor arguments to the appropriate court, says Joseph Myles and Lionel Lavenue at Finnegan.
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Del. Bankruptcy Ruling Will Give D&O Insureds Nightmares
In Henrich v. XL Specialty Insurance, the Delaware Bankruptcy Court recently found that a never-served qui tam claim had been "brought" before a D&O policy's retroactive date, thereby eliminating coverage, and creating a nightmare scenario for directors and officers policyholders facing whistleblower claims, says David Klein at Pillsbury.
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Fair Use Doctrine Faces Challenges In The Generative AI Era
As courts struggle to apply existing copyright principles to new, digital contexts, the evolving capabilities of AI technologies are testing the limits of traditional frameworks, with the fair use doctrine being met with significant challenges, says John Poulos at Norton Rose.
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After A Brief Hiccup, The 'Rocket Docket' Soars Back To No. 1
The Eastern District of Virginia’s precipitous 2022 fall from its storied rocket docket status appears to have been a temporary aberration, as recent statistics reveal that the court is once again back on top as the fastest federal civil trial court in the nation, says Robert Tata at Hunton.
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Practical Private Equity Lessons From 2 Delaware Deals
A pair of Delaware Chancery Court cases remind private equity sponsors that specificity is crucial through the lens of deal certainty, particularly around closing conditions and agreement sections of acquisition agreements, say Robert Rizzo and Larissa Lucas at Weil Gotshal and William Lafferty at Morris Nichols.