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Delaware
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September 26, 2024
Judge Says Avon Should Hold Off On Deal With Parent Co.
A Delaware bankruptcy judge told cosmetics giant Avon Products Inc. on Thursday that it needs to give creditors more time to investigate its dealings with its Brazilian parent company before he can approve a proposed settlement of claims against the parent.
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September 26, 2024
3rd Circ. Rules Commerce Fishery Councils Cannot Veto Regs
Government-appointed advisory councils that have the power to veto decisions of federal cabinet-level officials run afoul of the U.S. Constitution, the Third Circuit said, stripping that veto power from "regional fishery management councils" that advise the U.S. secretary of commerce.
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September 26, 2024
Chancery Tosses Carvana Suit Alleging Faulty Sales
Delaware's chancellor has dismissed a stockholder derivative case against online used-car dealer Carvana Inc. that sought damages for alleged insider trading and legal complaince monitoring failures, a case that defense attorneys had branded "repackaged" from past or pending federal securities actions.
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September 26, 2024
Del. Bankruptcy Judge Says Purdue Limits Opt-Out Releases
A Delaware bankruptcy judge says the U.S. Supreme Court's decision in Purdue Pharma LP barring nonconsensual third-party releases does not allow a kind of oft-used opt-out waiver for voters who don't return ballots.
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September 26, 2024
Smartmatic, Newsmax Settle Defamation Suit In Delaware
Voting technology company Smartmatic USA Corp. and Newsmax Media Inc. have settled a post-2020 presidential election defamation suit slated to go to trial in Delaware's Superior Court on Monday.
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September 26, 2024
FTX Strikes Deal With MDL Counsel For Ch. 11 Plan Support
FTX Trading Ltd. has asked a Delaware bankruptcy judge for permission to enact a settlement with plaintiffs and counsel it's facing in multidistrict litigation in Florida, saying the proposed deal would prevent potentially costly legal tussles and bring the plaintiffs on board to support FTX's Chapter 11 plan.
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September 25, 2024
Sullivan & Cromwell Didn't Ignore FTX 'Red Flags,' Report Says
The Chapter 11 examiner appointed in the bankruptcy case of fallen cryptocurrency exchange FTX Trading determined Wednesday that debtor law firm Sullivan & Cromwell didn't ignore any "red flags" about FTX's misconduct related to a $500 million purchase of stock in financial service and digital trading platform Robinhood Markets Inc.
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September 25, 2024
Judge Connolly Sticks By Fining Paralegal Patent Owner
Delaware's top federal judge won't budge on ordering a Texas paralegal to pony up $53,000 for refusing to appear for months to answer questions about a patent litigation outfit that was registered to her name, after he grilled her lawyer over who he was representing at a hearing she did show up to last week.
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September 25, 2024
3rd Circ. Preserves Monsanto's Win In Cancer Warning Suit
The Third Circuit refused to reconsider its ruling that federal law preempts a more stringent Pennsylvania statute that mandates cancer warnings on chemicals, preserving Monsanto's win against a man who alleged the company's Roundup herbicide caused his illness.
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September 25, 2024
Gramercy Tells Del. Court Don't Capitulate To Citgo Bidders
Hedge fund Gramercy is fighting a bid to halt litigation it filed in Texas and New York to collect on certain Venezuelan debt, telling a Delaware judge that it's just one entity in a sea of Venezuela's creditors pursuing litigation that could impact an upcoming sale of Citgo's parent company.
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September 25, 2024
3rd Circ. Backs Tossing MetLife Suit Over Drug Rebates
The Third Circuit upheld MetLife's defeat of a lawsuit alleging it kept drug rebate profits for itself instead of lowering workers' health benefit plan costs, saying Wednesday the workers leading the suit hadn't shown they were harmed by missing out on speculative savings.
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September 25, 2024
Silvergate Can't Block Activist Investor From Board In Ch. 11
The parent company of defunct cryptocurrency-friendly bank Silvergate on Wednesday lost its bid to keep activist investor Joseph Stilwell from seeking election to its board, after a Delaware bankruptcy judge rejected its request for a temporary restraining order that would have halted the company's annual shareholder meeting on Friday.
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September 25, 2024
Transco Backers Urge DC Circ. To Revisit Pipeline Ruling
Natural gas and pipeline entities are firing back at a D.C. Circuit ruling that scrapped Federal Energy Regulatory Commission approvals for a five-state pipeline expansion project being pursued by the Transcontinental Gas Pipe Line Co., with one rival company saying the court's flawed decision sent "shockwaves through the industry."
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September 25, 2024
E-Bike Maker Argues In Del. Supreme Court To Salvage Sale
An attorney for a private equity affiliate that beat a Barcelona-based electric scooter rental chain's attempt to force a closing on the scooter company's $100 million sale in Chancery Court told Delaware's Supreme Court Wednesday that the seller's current appeal ignores its own fatal contract breaches.
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September 24, 2024
Appeals Court Finds LNG Project Claims Barred By Arbitration
An arbitration between a Kinder Morgan affiliate and a U.S. energy company concerning an abandoned gas project foreclosed a later breach of contract case from the U.S. company's Italian parent, a New York appeals court ruled Tuesday.
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September 24, 2024
Chancery Told SwervePay Deserves Sanctions In Earnout Suit
A court-appointed special magistrate has recommended sanctioning e-payment venture SwervePay and related parties over up to 22 months of missing or deleted text messages sought by SPOSC Investment Holdings and others in a post-merger battle over an alleged multibillion-dollar overstatement of "monetizable" payment traffic.
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September 24, 2024
DuPont Employee Defends Mass Email In ERISA Trial
A DuPont employee was scrutinized on the witness stand Tuesday for the way a worker learned about how the chemical company's merger with Dow would impact their benefits, with a judge calling a heavily redacted trial exhibit useless and a plaintiffs' attorney quizzing her on basic email functions.
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September 24, 2024
Amazon Shareholders Try To Save Suit Over Blue Origin Deal
Stockholders who sued Amazon founder Jeff Bezos and the company's board in Delaware's Court of Chancery for "blindly" approving a multibillion-dollar, Bezos-controlled launch contract for a new satellite-based internet service struggled for enough altitude Tuesday to clear defense dismissal challenges.
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September 24, 2024
Star Witness Against Bankman-Fried Gets 2 Years In FTX Case
A Manhattan federal judge sentenced former cryptocurrency executive Caroline Ellison to two years in prison Tuesday, crediting her decision to testify against FTX founder Sam Bankman-Fried but saying the $11.2 billion fraud was too big to warrant a "get out of jail free card."
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September 23, 2024
3rd Circ. Probes SEC's 'Close To Vacuous' Reply To Coinbase
Members of a Third Circuit panel on Monday pressed the U.S. Securities and Exchange Commission on its brief denial of crypto exchange Coinbase's request for rulemaking around digital assets, digging into how much of an explanation the agency owes the industry about its decision to forego setting rules for now.
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September 23, 2024
Smartmatic Can't Seek Punitive Damages In Newsmax Suit
A Delaware Superior Court judge on Monday ruled that Smartmatic USA Corp. can't seek punitive damages in the defamation trial over unsubstantiated claims from Newsmax Media Inc. that the company's voting systems rigged the 2020 election, saying Smartmatic couldn't meet its burden to prove express malice.
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September 23, 2024
3rd Circ. Revives $60M Moroccan Hotel Award Fight
The Third Circuit has sent a decision over a $60 million arbitral award favoring the Royal Mansour Hotel's current owner back to a lower court for further consideration, saying the company has plausibly argued that it didn't cause the Moroccan establishment to fall into financial ruin.
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September 23, 2024
Petco, Shareholders Battle In Chancery Over Controller Clout
Attorneys for Petco Health & Wellness Co. Inc. face an "uphill battle" in branding as "wrongly decided" a landmark Court of Chancery ruling earlier this year that struck down an agreement giving a company's controlling stockholder board-trumping power, Delaware's chancellor cautioned on Monday.
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September 23, 2024
States, Enviros Urge USPS Vehicle Plan Challenge To Proceed
States and environmentalists have pushed back against the U.S. Postal Service and Oshkosh Defense's efforts to end a lawsuit alleging the USPS' multibillion-dollar delivery vehicle acquisition plan violates environmental law, saying the plan was inadequate and would harm them.
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September 23, 2024
Del. Justices Uphold Bankrupt Byju's US Lender Takeover
A panel of Delaware Supreme Court justices on Monday affirmed a lower court's ruling that the American arm of Indian educational technology business Byju's was in default under a $1.2 billion loan and that lenders had the authority to install new directors.
Expert Analysis
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Firms Must Offer A Trifecta Of Services In Post-Chevron World
After the U.S. Supreme Court’s Loper Bright Enterprises v. Raimondo decision overturning Chevron deference, law firms will need to integrate litigation, lobbying and communications functions to keep up with the ramifications of the ruling and provide adequate counsel quickly, says Neil Hare at Dentons.
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5 Tips To Succeed In A Master Of Laws Program And Beyond
As lawyers and recent law school graduates begin their Master of Laws coursework across the country, they should keep a few pointers in mind to get the most out of their programs and kick-start successful careers in their practice areas, says Kelley Miller at Reed Smith.
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Series
Being An Opera Singer Made Me A Better Lawyer
My journey from the stage to the courtroom has shown that the skills I honed as an opera singer – punctuality, memorization, creativity and more – have all played a vital role in my success as an attorney, says Gerard D'Emilio at GableGotwals.
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How Law Firms Can Avoid 'Collaboration Drag'
Law firm decision making can be stifled by “collaboration drag” — characterized by too many pointless meetings, too much peer feedback and too little dissent — but a few strategies can help stakeholders improve decision-making processes and build consensus, says Steve Groom at Miles Mediation.
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Election Outlook: A Precedent Primer On Content Moderation
With the 2024 election season now in full swing, online platforms will face difficult and politically sensitive decisions about content moderation, but U.S. Supreme Court decisions from last term offer much-needed certainty about their rights, say Jonathan Blavin and Helen White at Munger Tolles.
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Opinion
Litigation Funding Disclosure Key To Open, Impartial Process
Blanket investor and funding agreement disclosures should be required in all civil cases where the investor has a financial interest in the outcome in order to address issues ranging from potential conflicts of interest to national security concerns, says Bob Goodlatte, former U.S. House Representative for Virginia.
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What NFL Draft Picks Have In Common With Lateral Law Hires
Nearly half of law firm lateral hires leave within a few years — a failure rate that is strikingly similar to the performance of NFL quarterbacks drafted in the first round — in part because evaluators focus too heavily on quantifiable metrics and not enough on a prospect's character traits, says Howard Rosenberg at Baretz+Brunelle.
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Replacing The Stigma Of Menopause With Law Firm Support
A large proportion of the workforce is forced to pull the brakes on their career aspirations because of the taboo surrounding menopause and a lack of consistent support, but law firms can initiate the cultural shift needed by formulating thoughtful workplace policies, says Barbara Hamilton-Bruce at Simmons & Simmons.
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Planning Law Firm Content Calendars: What, When, Where
During the slower month of August, law firms should begin working on their 2025 content calendars, planning out a content creation and distribution framework that aligns with the firm’s objectives and maintains audience engagement throughout the year, says Jessica Kaplan at Legally Penned.
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Notable Q2 Updates In Insurance Class Actions
Mark Johnson and Mathew Drocton at BakerHostetler discuss the muted nature of the property and casualty insurance class action space in the second quarter of the year, with no large waves made in labor depreciation and total-loss vehicle class actions, but a new offensive theory emerging for insurance companies.
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Series
Playing Golf Makes Me A Better Lawyer
Golf can positively affect your personal and professional life well beyond the final putt, and it’s helped enrich my legal practice by improving my ability to build lasting relationships, study and apply the rules, face adversity with grace, and maintain my mental and physical well-being, says Adam Kelly at Venable.
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Law Firms Should Move From Reactive To Proactive Marketing
Most law firm marketing and business development teams operate in silos, leading to an ad hoc, reactive approach, but shifting to a culture of proactive planning — beginning with comprehensive campaigns — can help firms effectively execute their broader business strategy, says Paul Manuele at PR Manuele Consulting.
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Opinion
The Big Issues A BigLaw Associates' Union Could Address
A BigLaw associates’ union could address a number of issues that have the potential to meaningfully improve working conditions, diversity and attorney well-being — from restructured billable hour requirements to origination credit allocation, return-to-office mandates and more, says Tara Rhoades at The Sanity Plea.
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Opinion
It's Time For A BigLaw Associates' Union
As BigLaw faces a steady stream of criticism about its employment policies and practices, an associates union could effect real change — and it could start with law students organizing around opposition to recent recruiting trends, says Tara Rhoades at The Sanity Plea.
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How Justices Upended The Administrative Procedure Act
In its recent Loper Bright, Corner Post and Jarkesy decisions, the U.S. Supreme Court fundamentally changed the Administrative Procedure Act in ways that undermine Congress and the executive branch, shift power to the judiciary, curtail public and business input, and create great uncertainty, say Alene Taber and Beth Hummer at Hanson Bridgett.