January 23, 2025
The Seventh Circuit reopened an auto parts company's lawsuit seeking to recover proceeds a plant manager got from selling shares he was granted, saying Delaware's top court has made clear that a lower court shouldn't have analyzed whether the forfeiture-for-competition provisions of the stock agreements were reasonable.
October 09, 2024
An attorney for an Illinois-based auto parts company urged Delaware's Supreme Court on Wednesday to clarify recent court precedent on employee "forfeiture-for-competition" agreements, saying a federal court strike-down of the company's forfeit action against a former manager would be "anathema" to Delaware's "contractarian doctrine and tradition" if upheld.
March 18, 2024
The Seventh Circuit on Friday asked Delaware's top court to clarify a ruling it made earlier this year upholding the enforceability of forfeiture-for-competition provisions in limited partnership agreements, saying it found "meaningful differences" between that case and an ex-manager's bid before it to keep the stock sale proceeds he earned before working for a competitor.