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Delaware
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July 10, 2024
Redbox Parent To Liquidate After 'Train Wreck' Mismanagement
Attorneys for the parent of Redbox Entertainment on Wednesday told a Delaware bankruptcy judge that "massive mismanagement" of the DVD rental company had left them with no choice but to ask for conversion of the Chapter 11 case to a Chapter 7 liquidation, with lenders unwilling to extend new financing amid doubts about the remaining value of the firm.
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July 10, 2024
Intel Asks Del. Court To Affirm It Has License To VLSI Patents
Intel has launched a suit in Delaware federal court asking for an order that it already has a license to various VLSI patents, the latest in a sprawling legal fight between the two parties over microchips.
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July 10, 2024
Nike Wins Another Look At TM Atty Fees Ruling At 3rd Circ.
The Third Circuit on Wednesday undid a $5 million attorney fee award to a Pennsylvania clothing manufacturer that sued Nike Inc. for trademark infringement, ordering a federal trial court to look more closely at the specifics of the case to determine if the outcome was truly "exceptional."
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July 10, 2024
Margolis Edelstein Fights Bid To Revive Malpractice Suit
An attorney representing Margolis Edelstein told the Delaware Supreme Court on Wednesday that an insurer's malpractice suit against the law firm shouldn't be revived as the firm's purported negligence wasn't the reason the insurer settled an underlying dispute for $1.2 million.
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July 10, 2024
Teamsters Lose 3rd Circ. Fight Over Belated Wage Grievance
The Third Circuit on Wednesday issued a rare opinion declining to enforce a union's arbitration win, saying a Teamsters unit waited too long to challenge a cemetery operator's read of their new contract's raise language.
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July 09, 2024
Ford Must Face Class Claims Over Oil Pump Defect
Ford must continue facing a proposed class action alleging it sold EcoBoost engine vehicles with faulty oil pumps after a Delaware federal judge on Monday largely denied the automaker's bid to dismiss the case, permanently tossing only one claim that alleged violations of Michigan's Consumer Protection Act.
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July 09, 2024
Hunter Biden Yanks New Trial Bid Feds Blasted As 'Laughable'
Hunter Biden yanked his bid for a new trial Tuesday that he argued was warranted based on the district court's purported lack of jurisdiction after a jury found him guilty of felony gun charges, retracting his motion and siding with Delaware federal prosecutors' reasoning after they slammed his arguments as "laughable."
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July 09, 2024
Chancery OKs $100K Incentive Fee In $18.8M Class Settlement
An $18.8 million settlement ended Tuesday a Delaware Court of Chancery derivative suit alleging a $220 million breach of fiduciary duty by Guggenheim Funds Investment Advisors LLC and trustees of a closed-end fund client, with the court also approving a rare $100,000 plaintiff incentive fee.
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July 09, 2024
3rd Circ. Says Creditor Can't Get Privileges In Citgo Sale
The Third Circuit on Tuesday nixed a bid by a creditor owed some $260 million by Venezuela's state-owned oil company for special participation privileges as an auction looms for Citgo's parent company to satisfy billions of dollars in Venezuelan debt.
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July 09, 2024
HEC Can't Get Damages Over Injunction In Novartis Feud
A Delaware federal court on Tuesday shot down HEC Pharm Co.'s bid for damages stemming from a preliminary injunction against it over the launch of a generic version of Novartis Pharmaceuticals' blockbuster multiple sclerosis treatment Gilenya.
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July 09, 2024
3rd Circ. Rips 2nd Circ. In Asset Freeze Ruling For SEC
The Third Circuit is standing by a lower court's decision to freeze a private equity executive's assets as he fights insider trading claims brought by the U.S. Securities and Exchange Commission, criticizing its sister circuit's approach to handling such issues in a precedential ruling Tuesday.
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July 09, 2024
NJ Panel Revokes Coverage For Pharma Co. In Fraud Row
A pharmaceutical company isn't covered for underlying accusations that it was a middleman in a self-dealing scheme orchestrated by its now-deceased board chairman, a New Jersey state appeals court ruled Tuesday, reversing a decision that a capacity exclusion in the company's directors and officers policy didn't apply.
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July 09, 2024
Glocal Says UpHealth Coerced Acquisition In Ch. 11 Suit
Indian healthcare network Glocal said its majority owner, bankrupt telemedicine tech company UpHealth, lied about business delays and exaggerated its finances as leverage in a 2020 acquisition, alleging in a Delaware bankruptcy court lawsuit that UpHealth and its executives eroded $200 million in value and failed to uphold their end of a share purchase agreement.
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July 09, 2024
Del. Chancellor Sends SwervePay Merger Suit Toward Trial
Delaware's Court of Chancery on Tuesday rejected dismissal for an amended complaint filed by e-payment venture SwervePay accusing buyers affiliated with payment collection business Ontario Systems LLC of overstating by tens of billions revenue-producing transactions expected under a proposed 2020 tie-up.
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July 09, 2024
Chancery Gives X Corp. One Week To Redact Twitter Docs
X Corp. has a little over a week to prepare public versions of sealed court documents from Twitter Inc.'s 2022 battle with Elon Musk over his $44 billion acquisition bid, after a legal research website challenged the ongoing confidential treatment of the Delaware Chancery Court filings.
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July 09, 2024
3rd Circ. Questions DuPont Family Trust's ERISA Status
In a hearing Tuesday about a dispute between the DuPont family and its domestic workers over trust money, Third Circuit judges quizzed both sides on the level of involvement needed from trustees or the family for the fund to be considered a plan covered by the Employee Retirement Income Security Act.
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July 09, 2024
Fed. Circ. Won't Revive Patent Fights Against Dating Apps
The Federal Circuit on Tuesday quickly shot down appeals from a patent litigation outfit trying to breathe life back into its failed legal campaign against a handful of prominent dating apps.
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July 09, 2024
2 Cooperators In Bankman-Fried Case To Be Sentenced In Fall
Two former FTX executives who pled guilty and testified for the government at the trial of Sam Bankman-Fried, the collapsed cryptocurrency exchange's founder, will be sentenced this fall, a New York federal judge said Tuesday.
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July 09, 2024
Gov't Missed Merck Vax Potency Problem, 3rd Circ. Told
Two whistleblowers claiming that Merck & Co. had exaggerated the potency of its mumps vaccine told a Third Circuit panel Tuesday that the U.S. Centers for Disease Control and Prevention's continued purchasing of the vaccine was not proof that the agency knew but didn't care about the alleged deception.
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July 09, 2024
Veriwave Telco Faces FCC Action Over 'Tax Relief' Robocalls
The Federal Communications Commission is moving to block robocalls about purported "tax relief" programs from a Delaware-based telecommunications company, announcing in an order Monday that Veriwave Telco had another 14 days to demonstrate compliance with the agency's rules or risk having downstream providers cut its traffic.
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July 09, 2024
Chancery OKs $22M Golden Nugget Deal, Trims Fee To $4M
Former stockholders of Golden Nugget Online Gaming Inc. who challenged the venture's $1.56 billion all-stock sale in May 2022 to DraftKings Inc. got approval Tuesday to settle their Delaware Chancery Court class action for $22 million cash, with $4 million of it going to class attorneys.
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July 08, 2024
Shopify Privacy Ruling Threatens AGs' Work, 9th Circ. Told
Attorneys general from 30 states and the District of Columbia, along with a trio of California city attorneys, are calling on the Ninth Circuit to revive a proposed class action accusing payment processing company Shopify of collecting shoppers' sensitive information without permission, arguing that the dispute threatens to deprive them of their ability to enforce their states' consumer protection laws.
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July 08, 2024
Biotech Slaps Intellia With IP Suit Over $100M Regeneron Deal
Biotechnology company BlueAllele Corp. sued Intellia Therapeutics Inc. in Delaware federal court Monday, claiming the rival has infringed on three of its patents related to gene editing and using its invented technology to reap over $100 million under a deal with another biotech, Regeneron Pharmaceuticals Inc.
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July 08, 2024
Blank Check Co. Sagaliam Gets Shareholder Suit Trimmed
A Delaware federal judge on Monday trimmed a shareholder suit brought against blank check company Sagaliam Acquisition Corp. over its planned tie-up with biotech company Enzolytics Inc., saying the plaintiffs failed to adequately plead a breach of fiduciary duty claim.
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July 08, 2024
Class Attys Seek 24.4M Tesla Shares For Musk Pay Suit Win
A stockholder attorney whose team won an order voiding Tesla CEO Elon Musk's $56 billion, stock-based, 10-year compensation package in January urged Delaware's Court of Chancery on Monday to reject as "inherently wrong" the electric vehicle manufacturer's attacks on winning-side, stock-based attorney fee proposals ranging in value from $1.44 billion to more than $7 billion.
Expert Analysis
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Fed. Circ. Patent Decisions In 2023: An Empirical Review
The Federal Circuit decided 306 patent cases last year, which is still well down from the pre-pandemic norm of around 440, and on the whole the court's decisions were markedly less patentee-friendly in 2023 than in 2022, says Dan Bagatell at Perkins Coie.
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What The Law Firm Of The Future Will Look Like
As the legal landscape shifts, it’s become increasingly clear that the BigLaw business model must adapt in four key ways to remain viable, from fostering workplace flexibility to embracing technology, say Kevin Henderson and Eric Pacifici at SMB Law Group.
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4 PR Pointers When Your Case Is In The News
Media coverage of new lawsuits exploded last year, demonstrating why defense attorneys should devise a public relations plan that complements their legal strategy, incorporating several objectives to balance ethical obligations and advocacy, say Nathan Burchfiel at Pinkston and Ryan June at Castañeda + Heidelman.
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3 Pointers From Tilton Case To Help Win Advancement Suits
The Delaware Superior Court’s refusal to let Lynn Tilton sue her advancers for legal fees, ruling she had not yet attempted to negotiate in good faith, suggests that policyholders may fare better if they attempt proactive strategies to narrow disputes over advancement agreements before taking their insurers to court, says Evan Bolla at Harris St. Laurent.
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Charting The Course For Digital Assets In 2024
Although 2023 was a tough year for the digital asset industry, upcoming court decisions, legislation and regulatory action will bring clarity, allowing the industry to expand and evolve, and the government will decide what innovation it will allow without challenge, says Joshua Smeltzer at Gray Reed.
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Law Firm Strategies For Successfully Navigating 2024 Trends
Though law firms face the dual challenge of external and internal pressures as they enter 2024, firms willing to pivot will be able to stand out by adapting to stakeholder needs and reimagining their infrastructure, says Shireen Hilal at Maior Consultants.
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The Most-Read Legal Industry Law360 Guest Articles Of 2023
A range of legal industry topics drew readers' attention in Law360's Expert Analysis section this year, from associate retention strategies to ethical billing practices.
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5 Most Notable Class Action Standing Cases Of 2023
Key appellate class action decisions this past year continued the trend of a more demanding approach to the threshold issue of standing during each phase of litigation, say attorneys at MoFo.
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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.