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Delaware
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July 12, 2024
Del. Court Finds 1 Of 6 Bylaws Invalid But All Unenforceable
Only one of six contested advance-notice bylaws that Florida pharma company AIM Immuno Tech Inc. adopted in response to an activist shareholder's proxy contest is actually invalid but none remain enforceable because the board adopted them primarily to thwart the shareholder's challenge, Delaware's Supreme Court has ruled.
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July 12, 2024
Judge Swipes Left On Match Group Investors' Suit
A Delaware federal judge has dismissed, for now, investor allegations that dating website operator Match Group Inc. misled the market about an integration process.
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July 12, 2024
Expect NCAA To Dig In Heels On Employee Status After Ruling
Even after Thursday's Third Circuit ruling clearing a path for college athletes to be considered employees, experts say the NCAA's record of litigating to the hilt on other athletes' rights matters portends a long road ahead before the issue is clarified.
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July 12, 2024
VLSI Continues Fight Against Intel In Patent Litigation
VLSI has launched a fight in Texas federal court against an argument that Intel made in Delaware federal court that it had a license to various patents.
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July 12, 2024
Apollo Seeks Chancery Toss Of Stockholder Pact Challenge
Pointing in part to a pending Delaware law that would allow corporate directors to cede some board powers to big stockholders, Apollo Global Management Inc. has asked a Delaware vice chancellor to dismiss a suit challenging its own stockholder pact.
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July 12, 2024
Real Estate Recap: Mall Makeovers, Military Land, Fundraising
Catch up on this week's key developments by state from Law360 Real Estate Authority, including one Big Four retail leader's take on mall potential, the U.S. Treasury's increasing scrutiny of land deals with national security concerns, and a midyear look at private real estate fundraising trends.
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July 12, 2024
Ex-Slync CEO Gets 20 Years After Wire Fraud Conviction
The founder of shuttered supply chain management software company Slync has received a 20-year prison sentence involving a pair of partially concurrent sentences after a Texas jury in January handed down convictions on wire fraud and other claims over prosecutors' allegations that he drained $25 million out of his company's bank accounts.
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July 12, 2024
No Injury In Suit Targeting J&J Asset Shuffles, Talc Unit Says
Johnson & Johnson wants a New Jersey federal judge to toss a proposed class action alleging that the company has tried to intentionally prevent talc claimants from getting their day in court through a scheme of fraudulent corporate transactions, arguing that the cancer patients failed to show how any of the challenged transactions left it unable to pay its talc claims.
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July 12, 2024
Chancery Tosses Centene Shareholders' Medicaid Fraud Suit
The Delaware Chancery Court on Friday dismissed a Centene stockholder derivative lawsuit seeking damages from company directors and officers over allegations of a multistate Medicaid pharmacy benefit billing fraud scheme that the investors said could result in a $1.25 billion liability for the healthcare giant.
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July 12, 2024
NPE Patent Suits Up 19% From 2nd Half Of 2023
The number of patent lawsuits filed by so-called nonpracticing entities has continued to increase in the past year, with the Eastern District of Texas being the top district in terms of patent litigation, according to a new report.
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July 12, 2024
Chancery Approves $19.5M Convey-TPG Settlement
Former shareholders of Convey Health Solutions Inc. won Delaware Chancery Court approval Friday of a $19.5 million cash settlement to resolve a class challenge to the healthcare technology company's $1.1 billion take-private acquisition by TPG Inc., with $3.88 million going to class attorneys after expenses.
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July 12, 2024
US Trustee Decries Fisker EV Fleet 'Fire Sale'
The U.S. Trustee's Office urged a Delaware bankruptcy judge to block electric-vehicle maker Fisker's proposed $46.25 million sale of its inventory, saying the fleet is being sold at "fire sale prices" the debtor can't show are fair.
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July 11, 2024
Only 1 Gold Mine Investor Has Class Claim, Chancery Says
Only one of three warrant holders who sued a Nevada gold and silver mine in Delaware's Court of Chancery may move forward with a proposed class action, a Chancery Court judge has ruled, but the other pro se plaintiffs may continue with their individual claims.
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July 11, 2024
IP Forecast: Napa Winery's Ex-Atty Wants Another Trial
A Texas lawyer plans to tell an appeals court why he should receive another trial in a trademark case from a Napa Valley winery, a former client that he claims sold off a "wildly successful California cult wine" out from under him.
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July 11, 2024
Signify, Merger Partner Clash In Chancery Over $50M Earnout
An attorney for former Caravan Health Inc. stockholder representatives told a Delaware vice chancellor on Thursday that acquirer Signify Health Inc. sabotaged Caravan's business in order to scuttle an obligation to add as much as $50 million in performance-based "earnouts" to the $250 million merger price.
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July 11, 2024
3rd Circ. Greenlights FLSA Claims For NCAA Athletes
Amateurism can't shield the NCAA from student-athletes' Fair Labor Standards Act claims, the Third Circuit ruled Thursday, laying out a test to sort out whether athletes can be considered employees under the federal statute.
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July 11, 2024
Chancery Orders Invictus Fund Sides To Provide Case Update
Pointing to hints of clarity in a distressed credit and special-situations fund's murky, 9-month-old battle for documents and cash held by its general partner and investment manager, a Delaware vice chancellor on Thursday ordered the two sides to produce a case update by Tuesday.
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July 11, 2024
GSK Asks Judge To Rule In Teva IP Case, Citing Opioid Deals
A GlaxoSmithKline lawyer has urged a Delaware federal judge to make up his mind about a nearly $400 million patent case against Teva Pharmaceuticals in light of unrelated "opioid-related cases" that the Israeli generic-drug maker has been settling in the billions of dollars.
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July 11, 2024
Chancery Fast-Tracks Blue Cross Data Co. Suit, Denies TRO
An independent licensee of Blue Cross Blue Shield Association that accused a customer of sharing confidential data with industry competitor Cigna Corp. got its Delaware Chancery Court lawsuit fast-tracked Thursday but failed to get immediate injunctive relief because the harms it alleged were too "speculative."
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July 11, 2024
Talc Law Firms Beat J&J Subpoenas Seeking Funding Info
The Beasley Allen Law Firm, another plaintiffs law firm and a litigation funder defeated subpoenas from Johnson & Johnson in talc litigation, with a special master reasoning that the broad swath of discovery permitted in federal courts still has limits.
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July 11, 2024
3rd Circ. Backs Toss Of $427K Arbitration Liability Award
The Third Circuit upheld a lower court's nix of an arbitration award of more than $427,000 against a painting company over a union pension fund's withdrawal liability claims, determining Thursday that the fund waited too long to request payment under federal benefits law.
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July 11, 2024
Meet Del. Federal Court's Newest Magistrate Judge
The newest magistrate judge in Delaware's federal district court is a former law clerk to another judge in the courthouse, and also previously served as an intellectual property attorney at Morris Nichols Arsht & Tunnell LLP.
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July 10, 2024
3rd Circ. Says Pretrial Detention Bars Bid For Removal Relief
A split Third Circuit on Wednesday refused to revive a Honduran man's bid for deportation relief, saying the over 1,000 days he spent in detention before being sentenced for sexually assaulting his stepdaughter barred him from showing good moral character.
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July 10, 2024
Skin Care Tech Co. Says Suit Shows 'Rough' Year, Not Fraud
Skin care and beauty technology company Cutera Inc. asked a federal judge to toss a shareholder lawsuit that alleged the company exaggerated its financial sustainability and hid compliance issues, saying the company's "rough" year does not establish securities fraud.
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July 10, 2024
3rd Circ. Questions Authority Of Fish Management Councils
The Third Circuit on Wednesday grappled with whether the "Fishery Management Councils" that set plans and limits for ocean fisheries are merely advisers to the commerce secretary or if they're empowered enough for their members to be subject to Senate confirmation, with one judge suggesting that the panels are essentially "toothless."
Expert Analysis
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3 Ways Agencies Will Keep Making Law After Chevron
The U.S. Supreme Court clearly thinks it has done something big in overturning the Chevron precedent that had given deference to agencies' statutory interpretations, but regulated parties have to consider how agencies retain significant power to shape the law and its meaning, say attorneys at K&L Gates.
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Opinion
Atty Well-Being Efforts Ignore Root Causes Of The Problem
The legal industry is engaged in a critical conversation about lawyers' mental health, but current attorney well-being programs primarily focus on helping lawyers cope with the stress of excessive workloads, instead of examining whether this work culture is even fundamentally compatible with lawyer well-being, says Jonathan Baum at Avenir Guild.
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Series
Skiing And Surfing Make Me A Better Lawyer
The skills I’ve learned while riding waves in the ocean and slopes in the mountains have translated to my legal career — developing strong mentor relationships, remaining calm in difficult situations, and being prepared and able to move to a backup plan when needed, says Brian Claassen at Knobbe Martens.
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Class Actions At The Circuit Courts: June Lessons
In this month's review of class action appeals, Mitchell Engel at Shook Hardy considers two recent decisions from the Third and Tenth Circuits, and identifies practice tips around class action settlements and standing in securities litigation.
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Unpacking The Circuit Split Over A Federal Atty Fee Rule
Federal circuit courts that have addressed Rule 41(d) of the Federal Rules of Civil Procedure are split as to whether attorney fees are included as part of the costs of a previously dismissed action, so practitioners aiming to recover or avoid fees should tailor arguments to the appropriate court, says Joseph Myles and Lionel Lavenue at Finnegan.
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Del. Bankruptcy Ruling Will Give D&O Insureds Nightmares
In Henrich v. XL Specialty Insurance, the Delaware Bankruptcy Court recently found that a never-served qui tam claim had been "brought" before a D&O policy's retroactive date, thereby eliminating coverage, and creating a nightmare scenario for directors and officers policyholders facing whistleblower claims, says David Klein at Pillsbury.
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Fair Use Doctrine Faces Challenges In The Generative AI Era
As courts struggle to apply existing copyright principles to new, digital contexts, the evolving capabilities of AI technologies are testing the limits of traditional frameworks, with the fair use doctrine being met with significant challenges, says John Poulos at Norton Rose.
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After A Brief Hiccup, The 'Rocket Docket' Soars Back To No. 1
The Eastern District of Virginia’s precipitous 2022 fall from its storied rocket docket status appears to have been a temporary aberration, as recent statistics reveal that the court is once again back on top as the fastest federal civil trial court in the nation, says Robert Tata at Hunton.
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Practical Private Equity Lessons From 2 Delaware Deals
A pair of Delaware Chancery Court cases remind private equity sponsors that specificity is crucial through the lens of deal certainty, particularly around closing conditions and agreement sections of acquisition agreements, say Robert Rizzo and Larissa Lucas at Weil Gotshal and William Lafferty at Morris Nichols.
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Recruitment Trends In Emerging Law Firm Frontiers
BigLaw firms are facing local recruitment challenges as they increasingly establish offices in cities outside of the major legal hubs, requiring them to weigh various strategies for attracting talent that present different risks and benefits, says Tom Hanlon at Buchanan Law.
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4 Tips For Drafting Earnouts To Avoid Disputes
Amid slowed merger and acquisition activity, buyers and sellers are increasingly turning to earnout provisions to get deals done, but these must be carefully drafted to avoid interpretative differences that can lead to later disputes, say attorneys at Cooley.
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Series
Glassblowing Makes Me A Better Lawyer
I never expected that glassblowing would strongly influence my work as an attorney, but it has taught me the importance of building a solid foundation for your work, learning from others and committing to a lifetime of practice, says Margaret House at Kalijarvi Chuzi.
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How Associates Can Build A Professional Image
As hybrid work arrangements become the norm in the legal industry, early-career attorneys must be proactive in building and maintaining a professional presence in both physical and digital settings, ensuring that their image aligns with their long-term career goals, say Lana Manganiello at Equinox Strategy Partners and Estelle Winsett at Estelle Winsett Professional Image Consulting.
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Yellow Corp. Lease Assumption Shows Landlord Protections
Yellow Corp.’s recent filing of a motion to assume unexpired leases is a helpful reminder to practitioners to maintain a long-term approach about what is most beneficial for an estate and to not let a debtor's short-term cash position dictate business decisions, says Kyle Arendsen at Squire Patton.
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Skip Versus File: The Patent Dilemma That Costs Millions
In the nearly 30 years since the inception of the provisional application, many have weighed the question of whether or not to file the provisional, and data shows that doing so may allow inventors more time to refine their ideas and potentially gain an extra year of protection, says Stanko Vuleta at Highlands Advisory.