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Delaware
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September 05, 2024
Chancery Presses Pause On $450M Bolt Financial Financing
Affiliates of multinational investors Hedosophia and BlackRock have won a Delaware Court of Chancery pause of a purported Bolt Financial Inc. $450 million equity financing that would eliminate and replace all the company's preferred stock while returning founder Ryan Breslow to his CEO seat.
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September 05, 2024
Hunter Biden Pleads Guilty To Tax Charges In Surprise Move
Hunter Biden entered a surprise guilty plea to nine criminal tax charges in California federal court on Thursday, bringing a dramatic conclusion to the case following a dizzying series of events on what was set to be the first day of his trial.
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September 04, 2024
Virgin Galactic Investor Says Branson, Brass Hid Safety Risks
A Virgin Galactic stockholder sued the aerospace and space tourism company's founder Richard Branson and top executives in Delaware's Court of Chancery, alleging the billionaire profited by selling off equity at an inflated price while failing to publicly disclose his knowledge of purportedly pervasive safety issues.
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September 04, 2024
Bid To Nix Expert Fails As Fed. Circ. OKs $2.3M Patent Verdict
The Federal Circuit on Wednesday upheld a $2.3 million patent verdict against dental imaging device maker Planmeca USA Inc., rejecting the company's argument that plaintiff Osseo Imaging LLC's technical expert was not qualified because his experience came after the invention.
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September 04, 2024
AI Co. Keeps Engine Supplier In Trade Secrets Suit
An artificial intelligence software developer can continue pursuing a case seeking at least $500 million in Delaware state court from an engine manufacturer over claims that it misappropriated its trade secrets after canceling a deal they had to develop an AI tool.
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September 04, 2024
3rd Circ. Revives Machinery Worker's Disability Bias Suit
The Third Circuit reopened a former machinery worker's lawsuit alleging he was fired because he requested light-duty assignments following an on-the-job back injury, saying Wednesday a trial court used an outdated standard to conclude that federal law didn't consider his temporary pain a disability.
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September 04, 2024
Apollo Defends $570M Controller Deal In Chancery Suit
An attorney for Apollo Global Management Inc. pushed back Wednesday in Delaware's Court of Chancery on stockholder claims that former company chairman and former CEO Leon Black and two others dominated the business in the runup to a $570 million payout to the three insiders in 2021.
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September 04, 2024
Fintech Investor Tries To Undo 'Formulistic' Nix Of NCino Suit
A pension fund invested in financial technology company nCino Inc. urged Delaware's Supreme Court on Wednesday to revive its suit against company directors and investment firm Insight Venture Partners over a $1.2 billion acquisition, arguing the Chancery Court "missed the mosaic for the tiles" by dismissing the case.
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September 04, 2024
NLRB Says Deference Not Needed In Solo Protest Case
The U.S. Supreme Court's recent decision abandoning its long-standing deference to administrative agencies should not affect the Third Circuit's review of a National Labor Relations Board order broadening when individual employees engage in protected actions, the agency argued in a brief to the appeals court.
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September 04, 2024
Election Year Surprise? GOP Judges Opening Seats For Biden
Well ahead of fall elections that could flip the White House and U.S. Senate to Republicans, many GOP-appointed judges are retiring and giving Democrats opportunities to fill key seats before Republicans can capitalize on any wins at the polls, and several of the judges discussed the political backdrop with Law360.
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September 04, 2024
J&J Hit With $1B Damages In Del. Merger Milestone Fight
Johnson & Johnson owes more than $1 billion to a medical robotics developer and entrepreneur caught up in a multibillion-dollar post-acquisition dispute, a Delaware vice chancellor ruled Wednesday.
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September 03, 2024
Phone Co. Sued In Del. For CEO Spending, Crypto Asset Docs
An OSOM Products Inc. stockholder has sued the crypto-focused former cellphone-maker for books and records access, citing allegations that CEO and controlling stockholder Jason Keats has diverted company assets for personal use and other undisclosed dealings involving OSOM and Solana cryptocurrency.
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September 03, 2024
HQ Specialty Looks To Fix Patent Flaws After Delaware Trial
HQ Specialty Pharma Corp. said Tuesday that it will correct flaws in its patent for an injectable calcium supplement that led a federal jury in Delaware to find it partially invalid last week and then will seek a court order to stop generic-drug maker Fresenius Kabi USA LLC from selling its allegedly infringing product.
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September 03, 2024
3rd Circ. Preview: Starbucks Firing, Liquor Law In September
Two National Labor Relations Board cases grace the Third Circuit's September session, when panels will probe the agency's suits against Starbucks Corp. for firing Philadelphia workers attempting to unionize and a plastic company accused of firing a safety whistleblower.
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September 03, 2024
3rd Circ.: Biotech Must Pay Royalties Despite Expired Patents
A cancer drug biotechnology company must pay royalties to a research firm despite the expiration of the applicable patents, a Third Circuit panel ruled in a precedential decision Tuesday, concluding that the biotech's royalty obligation is calculated differently than the one in a U.S. Supreme Court case it cited.
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September 03, 2024
$15M Class Atty Fee Sought In Microsoft-Activision Suit
Attorneys for Sweden's state pension fund manager have proposed a $15 million attorney fee for their investigation and intervention in a suit seeking Delaware Court of Chancery fixes for defects in some terms of Activision Blizzard Inc.'s $68.7 billion acquisition by Microsoft Corp. last year.
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September 03, 2024
Catching Up With Delaware's Chancery Court
Last week in Delaware's court of equity, an iconic rock band got a new member, former President Donald Trump's social media company escaped a contempt ruling, and litigation grew over Illumina Inc.'s $8 billion reacquisition of cancer-testing company Grail Inc. New cases touched on intellectual property, mergers, share transfers and dump trucks. In case you missed it, here's the latest from Delaware's Court of Chancery.
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September 03, 2024
Home Solar Panel Co. Lumio Hits Ch. 11 To Sell Assets
Residential solar panel provider Lumio Holdings filed for Chapter 11 protection in Delaware on Tuesday, with up to $500 million in debt and a plan to sell all of its assets to its major lender.
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August 30, 2024
Chancery Prunes $2.1M From Atty Fee Bid In Sculptor Merger
Class attorneys who helped secure a 14.4%, or $80.8 million, improvement in proceeds from Sculptor Capital Management's sale to Rithm Capital Corp. — plus a $6.5 million common fund — saw their $5.75 million fee proposal cut to $3.6 million in Delaware's Court of Chancery Friday.
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August 30, 2024
$100M Deal Finally Ends MoneyGram Unclaimed Property Fight
Delaware will be giving back more than $100 million from uncashed MoneyGram checks to the states where they were bought after finally reaching a settlement with 29 other states that took the matter all the way to the U.S. Supreme Court.
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August 30, 2024
Vyaire Medical Gets OK For $90M Sale Of Business Units
A Delaware bankruptcy judge Friday approved the $90.5 million sale of ventilator maker Vyaire Medical's businesses, overriding creditor arguments that a deal with lenders apportioning the sale proceeds would leave Vyaire too little cash to get to the end of its Chapter 11 case.
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August 30, 2024
3rd Circ. Won't Touch Pipeline Workers' Appeal In OT Suit
The Third Circuit said Friday it doesn't have jurisdiction over a pipeline company's challenge to a discovery order limited to the issue of the arbitrability of two pipeline inspectors' wage claims, ruling that the challenged order isn't appealable under the Federal Arbitration Act.
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August 30, 2024
Real Estate Recap: RealPage, Vacancies, New Construction
Catch up on this week's key developments by state from Law360 Real Estate Authority — including interpretation of the RealPage antitrust suit, the latest on U.S. office vacancies and plans for a new Miami tower.
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August 30, 2024
Del. Judge Finds Exception To Absolute Litigation Shield
An "absolute litigation privilege" barring lawsuits targeting defamation related to court action in Delaware doesn't block involuntary LLC share repurchase demands triggered by a terminated subsidiary officer's alleged defamatory statements, a Delaware judge has ruled.
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August 30, 2024
Actors Say AI Co. ElevenLabs Cloned Their Voices
Two professional audiobook narrators have sued speech synthesis software company ElevenLabs Inc. in Delaware federal court, saying the company used generative artificial intelligence to clone their voices without consent or compensation and is now profiting by letting customers use their voice clones "Bella" and "Adam" for free.
Expert Analysis
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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.
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Vendor Rights Lessons From 2 Chapter 11 Cases
A Texas federal court’s recent critical vendor order in the Zachry Holdings Chapter 11 filing, as well as a settlement between Rite Aid and McKesson in New Jersey federal court last year, shows why suppliers must object to critical vendor motions that do not recognize creditors' legal rights, says David Conaway at Shumaker.
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Mirror, Mirror On The Wall, Is My Counterclaim Bound To Fall?
A Pennsylvania federal court’s recent dismissal of the defendants’ counterclaims in Morgan v. Noss should remind attorneys to avoid the temptation to repackage a claim’s facts and law into a mirror-image counterclaim, as this approach will often result in a waste of time and resources, says Matthew Selmasska at Kaufman Dolowich.
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Daubert Motion Trends In Patent Cases Reveal Damages Shift
A review of all 2023 Daubert decisions in patent cases reveals certain trends and insights, and highlights the complexity and diversity in these cases, particularly in relation to lost profits and reasonable royalty damages opinions, say Sherry Zhang and Joanne Johnson at Ocean Tomo.
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Series
Playing Dungeons & Dragons Makes Me A Better Lawyer
Playing Dungeons & Dragons – a tabletop role-playing game – helped pave the way for my legal career by providing me with foundational skills such as persuasion and team building, says Derrick Carman at Robins Kaplan.
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Del. Dispatch: Director Caremark Claims Need Extreme Facts
The Delaware Court of Chancery recently dismissed Caremark claims against the directors of Centene in Bricklayers Pension Fund of Western Pennsylvania v. Brinkley, indicating a high bar for a finding of the required element of bad faith for Caremark liability, and stressing the need to resist hindsight bias, say attorneys at Fried Frank.
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Class Action Law Makes An LLC A 'Jurisdictional Platypus'
The applicability of Section 1332(d)(10) of the Class Action Fairness Act is still widely misunderstood — and given the ambiguous nature of limited liability companies, the law will likely continue to confound courts and litigants — so parties should be prepared for a range of outcomes, says Andrew Gunem at Strauss Borrelli.
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Jarkesy Ruling May Redefine Jury Role In Patent Fraud
Regardless of whether the U.S. Supreme Court’s Jarkesy ruling implicates the direction of inequitable conduct, which requires showing that the patentee made material statements or omissions to the U.S. Patent and Trademark Office, the decision has created opportunities for defendants to argue more substantively for jury trials than ever before, say attorneys at Cadwalader.