Delaware

  • March 22, 2024

    Trump Wins Investor Approval Of Truth Social SPAC Deal

    Digital World Acquisition Corp. shareholders on Friday approved a proposal to acquire former President Donald Trump's social media platform, setting in motion long-delayed plans to take Trump's startup public despite unresolved litigation tied to the merger.

  • March 21, 2024

    Chemours Faces Investor Suit Over Alleged Exec Misconduct

    Chemical company The Chemours Co. and four of its current and former executives face claims they hurt investors by manipulating a certain financial metric so the executives might receive greater compensation under the company's incentive plans.

  • March 21, 2024

    UpHealth Claims $110M Win In Glocal Control Fight

    Global digital health company UpHealth Inc. says an arbitral panel has awarded it more than $110 million following a dispute that arose out of its subsidiary's acquisition of Glocal Healthcare Systems in 2020 — even as Glocal decried the award as "one-sided and perverse."

  • March 21, 2024

    CymaBay Investor Sues For Books On $4.3B Gilead Merger

    A shareholder of liver disease-focused biopharmaceutical company CymaBay Therapeutics Inc. sued the company in Delaware Chancery Court to extract more information over a proposed $4.3 billion merger with Gilead Sciences Inc., saying CymaBay has refused to hand over previously requested documents regarding the valuation analyses without a legitimate excuse.

  • March 21, 2024

    Canadian Supplement Co. Seeks US Bankruptcy Recognition

    A nutritional supplement supplier based in Montreal told a Delaware bankruptcy judge Thursday it needs the U.S. court to recognize its Canadian insolvency proceedings, reasoning that an eviction threat may cut off access to assets in California the debtor needs for its sale plans.

  • March 21, 2024

    Reorganized REIT Can't Duck Interest Post-Ch. 11, Judge Says

    Texas real estate investment trust Hartman SPE LLC must pay an additional $870,000 to satisfy a secured lender's claim, a Delaware bankruptcy judge ruled Thursday, finding that even though the mortgage is set to be repaid Friday, Hartman SPE is still responsible for interest until mid-April.

  • March 21, 2024

    Unabomber Prosecutor To Probe FTX's Sullivan & Cromwell Ties

    The Delaware bankruptcy court overseeing the Chapter 11 case of FTX Trading Ltd. has approved the appointment of a former federal prosecutor, whose experience includes work on the Unabomber case, to delve into accusations Sullivan & Cromwell is conflicted as debtor's counsel.

  • March 21, 2024

    Pot Co. Seller Says Chancery Must Decide Curaleaf Dispute

    A court needs to determine which corporate records Curaleaf Holdings Inc. should turn over in its $13 million price adjustment dispute with the seller of a multistate cannabis dispensary before it goes before an independent accountant, the seller told Delaware's Court of Chancery on Thursday.

  • March 21, 2024

    Nursing Home Woes, Cyberattack Sparked Petersen's Ch. 11

    Rising costs after the COVID-19 pandemic, cyberattacks and a general shift away from nursing homes led senior-living company Petersen Health Care to seek Chapter 11 bankruptcy protection this week with about $296 million in debt, according to a declaration filed Thursday by the company's top restructuring official.

  • March 21, 2024

    3rd Circ. Agrees Investors Have No Case Against Vax Maker

    The Third Circuit on Thursday upheld a Pennsylvania federal judge's ruling that a putative class of investors alleging biopharmaceutical company Ocugen Inc. made misleading statements about its ability to quickly produce a COVID-19 vaccine failed to state a claim against the company.

  • March 21, 2024

    Hospital Operator Alecto Healthcare Gets OK For Ch. 11 Plan

    A Delaware bankruptcy judge agreed to give hospital operator Alecto Healthcare Services LLC the all-clear on the company's Chapter 11 reorganization plan, saying the scheme was fair, achievable and made appropriate provisions for disposable income.

  • March 21, 2024

    Biden's Judicial Nominees Face New Barriers

    President Joe Biden is encountering new hurdles to placing his judicial nominees on the bench, particularly one who would be the first Muslim federal appellate judge if confirmed.

  • March 21, 2024

    Chancery Denies Icahn Midcase Appeal In Illumina Board Suit

    Carl Icahn can't interrupt his Chancery Court lawsuit against biotech Illumina Inc.'s board to appeal a decision about redactions to the Delaware Supreme Court, a vice chancellor ruled Wednesday, saying there are no "exceptional circumstances" that call for a midcase review.

  • March 20, 2024

    Petersen Health Care Files Ch. 11 Amid Suits Over HUD Loans

    Assisted living facility operator Petersen Health Care Inc. and more than 100 affiliates filed for Chapter 11 protection Wednesday in Delaware as the company faces claims it has failed to pay millions of dollars in federal housing loans.

  • March 20, 2024

    RedBird Sues Brookfield For $150M From Compass Deal

    The private investment firm that sold Compass Datacenters to Brookfield Infrastructure Partners for $5.7 billion last year sued the infrastructure asset manager in Delaware's Court of Chancery on Tuesday, alleging that Brookfield had breached their agreement by refusing to release $150 million out of escrow.

  • March 20, 2024

    SentinelOne Sued In Del. Over Advance Notice Bylaw

    A shareholder of cybersecurity company SentinelOne Inc. filed a proposed class action against the company's board in Delaware's Court of Chancery on Tuesday, seeking to invalidate a "coercive and preclusive" advance notice bylaw related to board nominations.

  • March 20, 2024

    Republican Bill Targets Colleges Hiring Unauthorized Workers

    Sen. J.D. Vance, R-Ohio, and Rep. Jim Banks, R-Ind., have introduced legislation to prevent universities that receive federal funding from hiring unauthorized immigrants.

  • March 20, 2024

    IRS Asks Justices To Scrap Couple's Late-Filed Tax Court Suit

    The IRS asked the U.S. Supreme Court to consider reversing the Third Circuit's revival of a couple's challenge to their tax bill, saying the appeals court incorrectly concluded that a 90-day deadline for petitioning the U.S. Tax Court need not always be met.

  • March 20, 2024

    How The Supreme Court Could Narrow Chevron

    After hours of oral argument in a closely watched administrative law case, it appeared that some U.S. Supreme Court justices could be open to limiting the opportunities for lower courts to defer to federal agencies' legal interpretations in disputes over rulemaking — and legal experts said there are a number of ways they could do it.

  • March 20, 2024

    Breaking Down Each State's Climate Priority Policies

    Forty-five states have now completed climate action plans outlining how they'll advance federal climate goals through policy and programs in coming years, with most focusing at least in part on real estate development as a way to reduce emissions.

  • March 20, 2024

    Law360 Announces The Members Of Its 2024 Editorial Boards

    Law360 is pleased to announce the formation of its 2024 Editorial Advisory Boards.

  • March 20, 2024

    US Chamber's Litigation Funding Concerns Spur 2 State Laws

    Amid concerns from the U.S. Chamber of Commerce about third-party litigation funding, including from potentially hostile foreign entities, state legislatures in Indiana and West Virginia have recently passed bills imposing restrictions on the practice.

  • March 19, 2024

    Nevada Dem. Says She Can't Support 3rd Circ. Nom.

    U.S. Sen. Catherine Cortez Masto, D-Nevada, on Tuesday became the first Democrat to publicly say she cannot support Adeel Mangi, nominee for the Third Circuit, who would be the first Muslim federal appellate judge, if confirmed.

  • March 19, 2024

    Kirkland Restructuring Ace To Join Hilco Global As Vice Chair

    James H.M. Sprayregen, the founder of Kirkland & Ellis' restructuring practice group and a well-known deal-maker in the corporate restructuring and mergers and acquisitions community, is set to join Hilco Global as a vice chair, the financial services holding company announced Tuesday.

  • March 19, 2024

    Joann Fabric Can Tap $95M Of DIP As It Eyes Quick Ch. 11

    Joann Inc., the retailer known as Joann Fabric and Crafts, received a Delaware bankruptcy judge's approval Tuesday on a bundle of first-day motions, ahead of an impending bid for confirmation of its prepackaged Chapter 11 plan to slash over half a billion dollars of debt and let creditors take over the reorganized business.

Expert Analysis

  • The 4 Top Philadelphia Commerce Court Opinions Of 2023

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    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.

  • Understanding Advance Notice Bylaws Is Key For All Parties

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    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.

  • Series

    Children's Book Writing Makes Me A Better Lawyer

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    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.

  • Del. Ruling Shows Tension Between 363 Sale And Labor Law

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    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.

  • How Clients May Use AI To Monitor Attorneys

    Excerpt from Practical Guidance
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    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.

  • Del. Insurance Co. Liquidation Reveals Recovery Strategies

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    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.

  • What 3rd Circ. Gets Wrong About Arbitration Enforcement

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    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.

  • Series

    The Pop Culture Docket: Judge D'Emic On Moby Grape

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    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.

  • The Key To Defending Multistate Collective FLSA Claims

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    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.

  • Series

    Performing Music Makes Me A Better Lawyer

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    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.

  • Breaking Down High Court's New Code Of Conduct

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    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.

  • Rockport Ch. 11 Highlights Global Settlement Considerations

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    A Delaware bankruptcy court’s recent rejection of Rockport’s proposed settlement serves as a reminder that there is a risk that a global settlement executed outside of a plan may be rejected as a sub rosa plan, but shouldn’t dissuade parties from seeking relief when applicable case law supports approval, says Kyle Arendsen at Squire Patton.

  • Opinion

    Legal Profession Gender Parity Requires Equal Parental Leave

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    To truly foster equity in the legal profession and to promote attorney retention, workplaces need to better support all parents, regardless of gender — starting by offering equal and robust parental leave to both birthing and non-birthing parents, says Ali Spindler at Irwin Fritchie.

  • Opinion

    Activist Short-Sellers Are The Dark Knights Of Wall Street

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    While so-called activist short-sellers have been subject to increased scrutiny in recent years, these investors work in the shadows like Batman to expose fraud on Wall Street, often generating leads that may move regulators to take action, say attorneys at Labaton Sucharow.

  • Managing ANDA Venue Issues As Del. And NJ Filings Rise

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    Delaware and New Jersey have prevailed as the primary forum for pharmaceutical litigation as more generic companies file abbreviated new drug applications, but this venue scheme presents traps for the unwary, and legislation may still be necessary to ensure fairness and predictability, say Timothy Cook and Kevin Yurkerwich at WilmerHale.

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