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Delaware
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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.
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July 08, 2024
3rd Circ. Backs Pa. In Transco's Pipeline Permit Review Fight
The Third Circuit on Monday backed the Pennsylvania state environmental board's authority to review pipeline upgrade permits secured by Transcontinental Gas Pipe Line Co., rejecting the company's assertion that under the federal Natural Gas Act a federal court is the only forum to dispute the issuance of the permits.
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July 08, 2024
Biotech Co. Alleges Arbitrator Conflict In Patent Award Fight
Pennsylvania-based biotechnology company Renmatix Inc. is urging the Delaware Court of Chancery to nix an arbitral award favoring Finnish company UPM-Kymmene Corp. in a long-running patent dispute, pointing to an allegedly undisclosed conflict of interest involving the Finnish company's counsel at DLA Piper.
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July 08, 2024
Feds Slam Hunter Biden's 'Laughable' New Trial Bid
Prosecutors urged a Delaware federal judge Monday to reject Hunter Biden's request for a new trial based on the district court's purported lack of jurisdiction after a jury found him guilty of three felony gun charges last month, slamming Biden's jurisdictional arguments as "laughable" and erroneous.
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July 08, 2024
3rd Truth Social Complaint Gets OK, Contempt Hearing Axed
Two former "Apprentice" contestants who claim to have created Donald Trump's social media app and are now alleging they are being cheated out of their Truth Social equity got Delaware Chancery Court's permission Monday to revise their complaint for a third time against the former president and his media company.
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July 08, 2024
3rd Circ. Doubts SEC Properly Served Ponzi Scheme Suspect
The Third Circuit on Monday appeared skeptical of the U.S. Securities and Exchange Commission's bid to maintain a default judgment against a Swiss resident accused of operating a $1.4 million Ponzi scheme, peppering the agency with questions about how the complaint was served.
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July 08, 2024
Bus Co. Coach Gets $8M Stalking-Horse Bid For More Assets
An industrial transportation provider submitted a roughly $8 million stalking-horse offer for some of the remaining assets of intercity bus operator Coach USA, as the insolvent company seeks to sell more of its assets while in Chapter 11 in Delaware.
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July 08, 2024
Netherlands-Based NXP Cos. Want Out Of Texas IP Suit
Semiconductor company NXP Semiconductors NV and NXP BV, which are both based in the Netherlands, have said a Texas federal judge should throw out a lawsuit claiming they infringed more than half a dozen patents owned by Redwood Technologies LLC, saying the court doesn't have authority over the foreign companies.
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July 08, 2024
Patent Holder Drops VoIP Suits Against Capital One, Fidelity
A small company that owns a voice recognition technology patent has agreed to drop its lawsuits in Texas federal court against Capital One and Fidelity.
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July 08, 2024
Catching Up With Delaware's Chancery Court
Prince's heirs were left standing alone in a cold world last week after Delaware's Court of Chancery found their attempts to gain control of the late musician's estate too demanding. Delaware's court of equity also waved a wand for Walt Disney and slashed nearly $10 million from a damages award for Sears stockholders. In case you missed anything, here's a recap of all the latest news from Delaware's Chancery Court.
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July 08, 2024
Icon Aircraft Investor Says Co.'s Ex-CEO Can't Pursue Suit
The majority equity owner of Icon Aircraft has asked a Delaware bankruptcy judge to reject a request by a group of investors including the company's former chief executive to continue prosecuting claims that it breached fiduciary duties, arguing those claims belong to the debtor instead.
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July 08, 2024
The Biggest Patent Rulings Of 2024: A Midyear Report
The Federal Circuit issued its first en banc patent decision since 2018, a circuit judge's suspension was solidified and courts shed further light on foreign damages and skinny labels. Here's a look back at these rulings and other top patent decisions from the first half of 2024.
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July 05, 2024
Prince Estate's Managing Members Prevail In Spat With Family
Delaware's Court of the Chancery on Friday held that some of Prince's family members ran afoul of an LLC agreement when they tried to oust two managing members of the late musician's estate and give themselves more control.
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July 05, 2024
Apple Says Masimo Can't Rely On LKQ In Design Patent Fight
Apple Inc. has told a Delaware federal court that medical tech company Masimo Corp.'s attempt to use the Federal Circuit's latest holding on design patent jurisprudence in one of their multiple ongoing legal fights surrounding the Apple Watch "fails to address any … authority concerning any pending motion."
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July 05, 2024
Real Estate Recap: Post-Chevron, Lawyer Leaps, Q&A Recap
Catch up on this past week's key developments by state from Law360 Real Estate Authority — including policy areas to watch in the wake of the U.S. Supreme Court's paradigm-shifting Chevron ruling, recent real estate lawyer moves and some insightful conversations with real estate lawyers you may have missed.
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July 05, 2024
How Reshaped Circuit Courts Are Faring At The High Court
Seminal rulings from the U.S. Supreme Court's latest term will reshape many facets of American society in the coming years. Already, however, the rulings offer glimpses of how the justices view specific circuit courts, which have themselves been reshaped by an abundance of new judges.
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July 05, 2024
Breaking Down The Vote: The High Court Term In Review
The U.S. Supreme Court's lethargic pace of decision-making this term left the justices to issue a slew of highly anticipated and controversial rulings during the term's final week — rulings that put the court's ideological divisions on vivid display. Here, Law360 takes a data dive into the numbers behind this court term.
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July 05, 2024
High Court Flexes Muscle To Limit Administrative State
The U.S. Supreme Court's dismantling of a 40-year-old judicial deference doctrine, coupled with rulings stripping federal agencies of certain enforcement powers and exposing them to additional litigation, has established the October 2023 term as likely the most consequential in administrative law history.
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July 05, 2024
The Sharpest Dissents From The Supreme Court Term
The U.S. Supreme Court's session ended with a series of blockbuster cases that granted the president broad immunity, changed federal gun policy and kneecapped administrative agencies. And many of the biggest decisions fell along partisan lines.
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July 05, 2024
5 Moments That Shaped The Supreme Court's Jan. 6 Decision
When the high court limited the scope of a federal obstruction statute used to charge hundreds of rioters who stormed the Capitol, the justices did not vote along ideological lines. In a year marked by 6-3 splits, what accounts for the departure? Here are some moments from oral arguments that may have swayed the justices.
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July 05, 2024
The Funniest Moments Of The Supreme Court's Term
In a U.S. Supreme Court term teeming with serious showdowns, the august air at oral arguments filled with laughter after an attorney mentioned her plastic surgeon and a justice seemed to diss his colleagues, to cite just two of the term's mirthful moments. Here, we look at the funniest moments of the term.
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July 05, 2024
$125M Deal To End Discovery-AT&T Merger Suit In Chancery
A $125 million settlement is in the works for a nearly two-year-old, now-consolidated Delaware Court of Chancery suit filed by former Discovery Inc. stockholders challenging the company's $43 billion merger with AT&T in April 2022, according to a court filing Friday.
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July 05, 2024
NY Investor Sues In Del. Alleging Costly Misbehavior In PR
A New York investor in a company set up to manage multiple car dealerships in San Juan, Puerto Rico, has sued his co-investor in Delaware's Court of Chancery, alleging "complex and systematic fraud and embezzlement schemes" and "reprehensible" public conduct that has put the business in "dire straits."
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July 05, 2024
Del. Suit Says Flawed Lockup Corrupted Post-IPO Stock Sales
A stockholder of artificial intelligence-focused C3.ai Inc. has launched a derivative suit in Delaware's Court of Chancery seeking damages for the company after insiders allegedly made hundreds of millions off an initial public offering propped up by false sales projections and an early share lockup release.
Expert Analysis
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Timing Is Key For Noninfringing Alternatives In Patent Cases
A Texas district court’s recent ruling in Smart Path Connections v. Nokia may affect the timing of expert disclosures and opinion regarding noninfringing alternatives in patent infringement litigation, for both defendants and plaintiffs, says Alexander Clemons at Ocean Tomo.
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Opinion
Requiring Leave To File Amicus Briefs Is A Bad Idea
A proposal to amend the Federal Rules of Appellate Procedure that would require parties to get court permission before filing federal amicus briefs would eliminate the long-standing practice of consent filing and thereby make the process less open and democratic, says Lawrence Ebner at the Atlantic Legal Foundation and DRI Center.
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2 Recent Suits Show Resiliency Of Medicare Drug Price Law
Though pharmaceutical companies continue to file lawsuits challenging the Inflation Reduction Act, which enables the federal government to negotiate for lower prescription drug prices, recent decisions suggest that the reduced drug prices are likely here to stay, says Jose Vela Jr. at Clark Hill.
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4 Ways To Motivate Junior Attorneys To Bring Their Best
As Gen Z and younger millennial attorneys increasingly express dissatisfaction with their work and head for the exits, the lawyers who manage them must understand and attend to their needs and priorities to boost engagement and increase retention, says Stacey Schwartz at Katten.
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How 3 Unfolding Cases Could Affect The Energy Industry
Three judicial decisions now in the pipeline — Texas' challenge to the U.S. Environmental Protection Agency's methane regulations, Delaware's climate suit against big energy companies, and a case before the Supreme Court of Texas on royalty lease interpretation — could have important implications for the energy industry, say Michelle Scheffler and Rachael Cox at Skadden.
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Series
Serving As A Sheriff's Deputy Made Me A Better Lawyer
Skills developed during my work as a reserve deputy — where there was a need to always be prepared, decisive and articulate — transferred to my practice as an intellectual property litigator, and my experience taught me that clients often appreciate and relate to the desire to participate in extracurricular activities, says Michael Friedland at Friedland Cianfrani.
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Opinion
The SEC Is Engaging In Regulation By Destruction
The U.S. Securities and Exchange Commission's recent use of regulation by enforcement against digital assets indicates it's more interested in causing harm to crypto companies than providing guidance to the markets or protecting investors, says J.W. Verret at George Mason University.
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Former Minn. Chief Justice Instructs On Writing Better Briefs
Former Minnesota Supreme Court Chief Justice Lorie Gildea, now at Greenberg Traurig, offers strategies on writing more effective appellate briefs from her time on the bench.
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Stay Interviews Are Key To Retaining Legal Talent
Even as the economy shifts and layoffs continue, law firms still want to retain their top attorneys, and so-called stay interviews — informal conversations with employees to identify potential issues before they lead to turnover — can be a crucial tool for improving retention and morale, say Tina Cohen Nicol and Kate Reder Sheikh at Major Lindsey.
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An Overview Of Key Financing Documents In Venture Capital
The Delaware Chancery Court’s recent Moelis decision highlights the importance of structuring corporate governance around investor demand, meaning early-stage companies seeking venture funding through sales of preferred stock should understand the legal documents needed to do so successfully, say Daniel Bell-Garcia and Tristan Kaisharis at Winstead.
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Del. Supreme Court Insurance Ruling Aids In Defining 'Claim'
The recent Delaware Supreme Court decision in Zurich v. Syngenta, finding that a presuit letter did not constitute a claim for insurance purposes, sets out a three-factor test to help policyholders distinguish when a demand rises to the level of a claim, says Lara Langeneckert at Barnes & Thornburg.
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Series
Spray Painting Makes Me A Better Lawyer
My experiences as an abstract spray paint artist have made me a better litigator, demonstrating — in more ways than one — how fluidity and flexibility are necessary parts of a successful legal practice, says Erick Sandlin at Bracewell.
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How Activision Ruling Favors M&A Formalities Over Practice
The Delaware Chancery Court’s recent nod to a proposed class action, alleging shareholder notice violations in Activision Blizzard’s sale to Microsoft, puts practitioners on notice that customary merger and acquisition market practices do not offer protection from potential liability, say John Stigi and Eugene Choi at Sheppard Mullin.
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5 Issues To Consider When Liquidating Through An ABC
Assignments for the benefit of creditors continue to grow in popularity as a tool for an orderly wind-down, and companies should be considering a number of issues before effectuating the assignment, including in which state it should occur, obtaining tail coverage and preparing a board creditor mailing list, says Evelyn Meltzer at Troutman Pepper.
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Opinion
Judicial Independence Is Imperative This Election Year
As the next election nears, the judges involved in the upcoming trials against former President Donald Trump increasingly face political pressures and threats of violence — revealing the urgent need to safeguard judicial independence and uphold the rule of law, says Benes Aldana at the National Judicial College.