Delaware

  • February 21, 2024

    Del. Suit Accuses Healthcare Data Co. Exec Of Insider Trading

    A stockholder launched a derivative lawsuit late Wednesday in Delaware's Court of Chancery, alleging the founder of a behavioral healthcare data firm traded company shares using insider information and that nearly a dozen current and former directors and officers provided false and misleading disclosures about the business.

  • February 21, 2024

    39 AGs Call For Federal Pharmacy Benefit Manager Reform

    The list of critics of pharmacy benefit managers continues to grow as nearly 40 attorneys general have thrown their weight behind a trio of federal bills they say would force more transparency into an "opaque" industry that has "been a cause of rising drug prices."

  • February 21, 2024

    FDA Let Pharma Co. 'Sidestep' Application Rules, Court Told

    The Food and Drug Administration has been hit with a suit alleging it wrongly allowed a drugmaker to expand the scope of its application to market a generic version of a blockbuster pulmonary hypertension drug.

  • February 21, 2024

    3rd Circ. Finds Art Supply Co. Illegally Fired Temp. Worker

    The Third Circuit backed a National Labor Relations Board decision that found an art supply company illegally let go of a Black temporary worker who raised complaints about racism in the workplace, saying Wednesday there was enough evidence to uphold the board's conclusions.

  • February 21, 2024

    Justices Squabble Over Emergency Review Of EPA Smog Plan

    The U.S. Supreme Court's liberal wing denounced during oral argument Wednesday their colleagues' decision to consider the merits of four related emergency requests to prevent the U.S. Environmental Protection Agency from implementing a plan to reduce cross-state pollution without first getting lower court input.

  • February 21, 2024

    Lutnick, Cantor Hit With Chancery Suit Over BGC Reorg

    An investor in brokerage and financial tech firm BGC Partners Inc. whose shares were converted when it reorganized in July has filed a proposed class action in Delaware's Court of Chancery against billionaire Howard W. Lutnick and New York financial services firm Cantor Fitzgerald LP, alleging the reorganization was unfair.

  • February 21, 2024

    Peer Street Needs To Revise Ch. 11 Disclosures, Judge Says

    A Delaware bankruptcy judge sent crowd-funded real estate investment platform Peer Street Inc.'s disclosure statement back to the drawing board on Wednesday, telling the company that it needed to add more details and understandable language amid outcry from some small investors who wanted to convert the Chapter 11 bankruptcy to a liquidation.

  • February 21, 2024

    Texas Investors Ask Del. Justices To Revive Land Trust Suit

    An attorney for Texas' largest landholder told Delaware's Supreme Court on Wednesday that stockholders bound themselves to support a massive new share issue when they secured two board seats in 2021, dooming their efforts to reverse a Court of Chancery dismissal of their suit challenging the additional share issuance last year.

  • February 21, 2024

    Twitter Severance Fight Paused To Facilitate Settlement Talks

    X Corp., the social media entity formerly known as Twitter, and a group of ex-employees have paused their dispute over severance compensation, as a Delaware federal court signed off Wednesday on a proposal to stay litigation deadlines pending settlement talks.

  • February 21, 2024

    NH Power Plant Can Reject Electric Purchase Deal In Ch. 11

    Bankrupt electricity generating station Burgess Biopower LLC received court approval Wednesday from a Delaware judge to reject a power purchase agreement with a party the debtor claims was withholding payments and creating a financial situation where the station was in danger of shutting down permanently.

  • February 21, 2024

    Consumer Data Co. Gets OK For $50M Ch. 11 Sale

    A Delaware bankruptcy judge Wednesday approved the $50 million sale of Near Intelligence after being told that unsecured creditors' objections to the California-based consumer data gathering platform's Chapter 11 plan had been resolved.

  • February 21, 2024

    JPMorgan Got $400M Before Inovalon Sale, Del. Justices Hear

    Inovalon didn't properly disclose that investors that bought the healthcare data company in 2021 paid $400 million in fees to its financial adviser, a JPMorgan unit, before the transaction, a reason enough to revive a lawsuit challenging the $7.3 billion acquisition, counsel for stockholders told Delaware's Supreme Court Wednesday.

  • February 21, 2024

    3rd Circ. Kicks Data Privacy Suit Against Penn To State Court

    A proposed class action alleging that the University of Pennsylvania violated the state's privacy law must head back to state court, the Third Circuit ruled Wednesday, rejecting arguments that the university health system acted as a federal officer by operating an online patient portal.

  • February 21, 2024

    Hunter Biden Wants Tax Case Nixed For Trump Interference

    Hunter Biden asked a California federal court to drop a set of criminal tax charges against him, saying that former President Donald Trump is improperly driving the prosecution and that politicians are "openly interfering" with the case.

  • February 21, 2024

    3rd Circ. Lets J&J Appeal Class Cert. In Talc Concealment Suit

    Johnson & Johnson can appeal a New Jersey federal court's class certification order from December, the Third Circuit ruled Wednesday, in an investor action alleging the company artificially inflated its stock price by failing to disclose cancer risks associated with its talcum powder products.

  • February 21, 2024

    IMedia Gets OK For Ch. 11 Liquidation Plan

    A Delaware bankruptcy judge on Wednesday approved home shopping business iMedia Brands' liquidation plan after hearing objections from unsecured creditors and others had been resolved.

  • February 20, 2024

    Protego Owes Firewall Vendor More Than $1.2M, Suit Says

    A Washington firm that tried and failed to become one of the first federally chartered cryptocurrency banks was hit with a breach-of-contract suit in Delaware federal court late last week by a cybersecurity contractor claiming the banking company failed to pay it more than $1.2 million.

  • February 20, 2024

    Walgreens Defeats $200M Investor Suit Over Insulin Billing

    A Delaware vice chancellor has thrown out a stockholder derivative suit accusing Walgreens directors of ignoring an alleged scheme in which insulin pen prescriptions were overfilled and the government overbilled, ruling that the investors haven't shown that the company's top brass acted in bad faith.

  • February 20, 2024

    Chancery Trounces New Jersey Attys' Bid To Bar Doc Reviews

    A Delaware vice chancellor has pointedly rejected what he called New Jersey discovery rule "exceptionalism" in a dispute over absolute protection claims for documents sought in a suit accusing advisers of siphoning millions from a family-controlled trust briefly chartered in Delaware.

  • February 20, 2024

    $71M Deal Proposed To End Premier Inc. Share Exchange Suit

    Healthcare-purchasing giant Premier Inc. has agreed to a $71 million settlement of a derivative stockholder suit in Delaware's Chancery Court that challenged a $473.5 million payout in a 2020 restructuring, with stockholder attorneys seeking an award of up to $14 million in fees.

  • February 20, 2024

    Pharma Co. Can Get D&O Coverage For Securities Suit

    A pharmaceutical company that developed a drug for rare genetic blood disorders is covered under a recent directors and officers policy for a securities class action, a Delaware state court ruled, rejecting its insurers' contention that the action was related to an SEC subpoena and thus fell under an older policy. 

  • February 20, 2024

    Chancery Won't Block TripAdvisor's Nevada Move

    In a ruling with implications for other Delaware-chartered companies pondering corporate charter relocations, a Delaware vice chancellor on Monday refused to block travel planning giant TripAdvisor Inc.'s reincorporation in Nevada, but kept alive minority stockholder damage claims alleging the vote was unfair and tainted by controller clout.

  • February 20, 2024

    Boomerang In Default For Silence On $7M Del. Contract Suit

    A defunct steel tube plant that failed to respond to a Delaware Chancery Court lawsuit seeking $7.35 million for unpaid invoices was found in default Tuesday after failing to appear in court for more than a year and a half.

  • February 20, 2024

    Pennsylvania Ballots Need Correct Dates, 3rd Circ. Told

    Republican organizations seeking to enforce a Pennsylvania requirement that mail-in ballots have a date and signature on their outer envelope urged the Third Circuit on Tuesday to rule that a district court judge who found more than 10,000 undated or misdated ballots to be valid too broadly applied the materiality provision of the Civil Rights Act.

  • February 16, 2024

    Stop Trying To Relate To Jurors If You Liked Harvard: Judge

    A senior federal district judge from Oregon on Friday urged intellectual property attorneys to stop pretending they can connect with juries when their backgrounds at times make it impossible to do so.

Expert Analysis

  • A Post-Mortem Analysis Of Stroock's Demise

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    After the dissolution of 147-year-old firm Stroock late last year shook up the legal world, a post-mortem analysis of the data reveals a long list of warning signs preceding the firm’s collapse — and provides some insight into how other firms might avoid the same disastrous fate, says Craig Savitzky at Leopard Solutions.

  • Understanding SEC's Focus Amid Lack Of Final AI Rules

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    Although the U.S. Securities and Exchange Commission's proposed rules to govern artificial intelligence are likely far from being finalized, understanding existing regulatory provisions that could address AI risks with respect to development, disclosure, compliance and data protection could help firms anticipate and avoid pitfalls, say attorneys at Skadden.

  • Del. Segway Dismissal Suggests Execs Not Liable For Biz Risk

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    While the debate continues within the Delaware Chancery Court over whether Caremark liability applies to matters of pure business risk, the court's recent rejection of Segway’s suit against the ex-president who oversaw financial difficulties suggests the court is uninterested in undermining the deference the business judgment rule grants corporate fiduciaries, say attorneys at Dechert.

  • ChristianaCare Settlement Reveals FCA Pitfalls For Hospitals

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    ChristianaCare's False Claims Act settlement in December is the first one based on a hospital allegedly providing private physicians with free services in the form of hospital-employed clinicians and provides important compliance lessons as the government ramps up scrutiny of compensation arrangements, say attorneys at Sheppard Mullin.

  • Texas Ruling Clarifies That Bankruptcy Shields LLC Rights

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    A Texas bankruptcy court’s recent ruling in In re: Envision makes it clear that the Bankruptcy Code preempts a section of Delaware state law that terminates a member’s interest in an LLC upon a bankruptcy filing, clarifying conflicting case law, say Larry Halperin and Joon Hong at Chapman and Cutler.

  • Series

    Coaching High School Wrestling Makes Me A Better Lawyer

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    Coaching my son’s high school wrestling team has been great fun, but it’s also demonstrated how a legal career can benefit from certain experiences, such as embracing the unknown, studying the rules and engaging with new people, says Richard Davis at Maynard Nexsen.

  • Debt Collector Compliance Takeaways From An FDCPA Appeal

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    A Consumer Financial Protection Bureau amicus brief last month in an ongoing First Circuit appeal focusing on an interpretation of the Fair Debt Collection Practices Act can serve as a reminder for debt collectors to understand how their technologies, like bankruptcy scrubs and letter logic, can prevent litigation, says Justin Bradley at Womble Bond.

  • SG's Office Is Case Study To Help Close Legal Gender Gap

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    As women continue to be underrepresented in the upper echelons of the legal profession, law firms could learn from the example set by the Office of the Solicitor General, where culture and workplace policies have helped foster greater gender equality, say attorneys at Ocean Tomo.

  • Exploring The Foreign Discovery Trend In Delaware

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    Despite a U.S. Supreme Court decision limiting the use of Section 1782, recent trends from a Delaware federal court suggest that Delaware remains an appealing forum for such foreign discovery requests, says Florentina Field at Abrams & Bayliss.

  • Del.'s Tesla Pay Takedown Tells Boards What Not To Do

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    The Delaware Chancery Court’s ruthless dissection of the Tesla board’s extreme departures from standard corporate governance in its January opinion striking down CEO Elon Musk’s $55 billion pay package offers a blow-by-blow guide to mistakes Delaware public companies can avoid when negotiating executive compensation, say attorneys at Cleary.

  • Del. Dispatch: Clarification On Fiduciary Duties Of Controllers

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    The Delaware Chancery Court’s January opinion in a Sears Hometown and Outlet Stores' stockholder dispute — holding that a controlling stockholder owes the company and minority shareholders some fiduciary duties when selling shares or voting to change the status quo — suggests instances where investors opposing board decisions should tread carefully, say attorneys at Fried Frank.

  • Reimagining Law Firm Culture To Break The Cycle Of Burnout

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    While attorney burnout remains a perennial issue in the legal profession, shifting post-pandemic expectations mean that law firms must adapt their office cultures to retain talent, say Kevin Henderson and Eric Pacifici at SMB Law Group.

  • Series

    Competing In Dressage Makes Me A Better Lawyer

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    My lifelong participation in the sport of dressage — often called ballet on horses — has proven that several skills developed through training and competition are transferable to legal work, especially the ability to harness focus, persistence and versatility when negotiating a deal, says Stephanie Coco at V&E.

  • 3 Strategies For Aggressive Judgment Enforcement

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    As illustrated by the many creditors of Citgo Petroleum Corp. who may walk away empty-handed — despite the company's court-ordered sale — it is important to start investigating counterparty assets and planning for enforcement even before obtaining a judgment, says Brian Asher at Asher Research.

  • Musk Pay Package Ruling Offers Detailed Lesson On Del. Law

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    Anat Alon-Beck and John Livingstone at Case Western Reserve University discuss the specifics that led Delaware's chancellor to rescind Elon Musk's $55.8 billion Tesla pay package on Jan. 30, how the state’s entire fairness doctrine played into the ruling, and its bigger-picture impact on the executive compensation landscape.

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