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New cases in Delaware's Court of Chancery last week alleged "pie in the sky" investments by Palantir Technologies and wasteful satellite-launch contracts by Amazon. The nation's court of equity also logged notice of a $65 million settlement and got ready for another coming up this week that could be almost three times as much.
threw a fit, and Delaware's chancellor calmly shuffled her papers in the court's highest-profile contract dispute last week. Elon Musk threw a smoke bomb, Twitter Inc. Facebook, Peloton, Krispy Kreme and Winston cigarettes also made appearances on a busy Chancery Court docket.
Delaware's Court of Chancery last week gave a failing grade to a "textbook" bad contract case, called timeout on a foot-dragging plaintiff, and got an unusual request from an investment firm to revisit the math on an appraisal decision.
At-home lab test maker Everly Health urged a Delaware federal judge to affirm its nearly $1 billion arbitration award against Walgreens over claims the pharmacy chain deliberately misused the digital health platform's trademark while secretly diverting COVID-19 tests to its own pharmacists while Walgreens argued the arbitrator overstepped his authority (..)
Delaware's Court of Chancery made some expensive decisions last week, ranging from a $130 million stockholder award and a freeze on $450 million in equity financing to a whopping $1 billion bill for fraud and breach of contract damages. In case you missed it, here's the roundup of news from Delaware's Court of Chancery.
and Elon Musk squared off with ex-Twitter workers in Delaware federal court, filing dueling briefs that took opposing stances over whether a district judge should adopt a recommendation to keep alive some breach-of-contract allegations in the workers' proposed class action claiming they were cheated out of severance benefits.
A Delaware federal court dropped some allegations related to the breach of contract claims against GameStop in a $30 million fee dispute, saying the plaintiff, Boston Consulting Group, has not pled a viable claim in some instances despite having three chances to do so.
There has been much discussion of a classified document being found in his personal library in Wilmington, but there is a huge library of Biden documents sitting in the University of Delaware. The Bidens have long been accused of open influence peddling to garner millions of dollars and choice jobs or contracts for family members.
When entering into contracts, parties commonly include forum selection clauses to govern future litigation between the parties. The Court of Appeals for the Federal Circuit has generally recognized that parties can bargain away these rights, including through forum selection clauses in contracts. emphasis added).
Unfortunately, most of my clients don’t understand that Delaware is a no-fault state, so they have inadvertently given out the at-fault insurance company claim number and information in a desperate attempt to stop the calls. These balances are usually non-negotiable because of the contract between the client and their health insurance.
A video game developer asked a Delaware bankruptcy court Friday to force cryptocurrency exchange FTX Trading Ltd. to reject a tournament sponsorship contract with the debtor because of the damage its reputation has sustained in recent months.
A Delaware vice chancellor dismissed a breach of contract suit filed by health care company Centene Corp. against data storage company Accellion Inc., finding a forum selection clause in their license agreement required the case be heard in California.
completely unprecedented," telling Delaware's chancellor that only Twitter and Musk can seek specific contract performance. An attorney for tech mogul Elon Musk on Monday called a Twitter stockholder suit to force him to close on a $44 billion offer to buy Twitter Inc.
after the social media giant sued to enforce his take-private offer in Delaware'scontract-focused Court of Chancery, experts said Friday. In the end, tech mogul and Tesla CEO Elon Musk had no way out of his $44 billion deal to buy Twitter Inc.
The Delaware Chancery Court has allowed Elon Musk to add Twitter's payment of a late-disclosed, $7.75 million severance payment to a security chief turned whistleblower to counterclaims allegedly justifying his walking away from a $44 billion contract to buy the social media giant.
A Blue Cross Blue Shield Association healthcare data licensee has sued for a Delaware Court of Chancery injunction that would bar a client from sharing a valuable database of BCBS medical and pharmacy claims with direct competitor Cigna Corp.
But, the two parties had a prior agreement to litigate patent disputes in Delaware courts (i.e., The Delaware court (Judge Stark) sided denied preliminary relief and instead sided with the patent challenger – finding (1) evidence of breach was lacking and (2) the real irreparable harm would come from barring the IPR.
A Delaware federal judge on Wednesday agreed to hand Mylan a win on a breach of contract claim from Takeda Pharmaceuticals USA Inc. over its gout drug Colcrys, agreeing with Mylan's interpretation of an earlier settlement agreement.
By Faraz Siddiqui — In the Spring of 2021, the Health Resources and Services Administration (HRSA) threatened six drug companies with billions of dollars in penalties for not providing 340B discounts to covered entities that sell drugs through vast networks of contract pharmacies (more background on earlier posts ). A lot is at stake here.
August 3, 2021) - The Delaware Court of Chancery recently explained under what circumstances dual claims will be allowed to proceed for both breach of fiduciary duty. Wilmington, Del.
Delaware, Hawaii and Idaho were among the 12 states and territories where no officers reportedly died. “As The FOP and other police groups didn’t know of statistics indicating how many officers contracted COVID on the job , or how many may have spread the virus, reports Business Insider.
Recent Delaware earnout litigation illustrates the need for careful drafting and proactive planning to avoid later divergent interpretations of the signed contract, and a series of drafting tips can help, say attorneys at Cozen O'Connor.
in Delaware's Court of Chancery, alleging breach of contract and seeking damages and contract reformation. Interdealer municipal bond and securities brokerage Hartfield Titus & Donnelly LLC has sued MarketAxess Holdings Inc.
A beverage bottler's lawsuit seeking damages tied to sports-drink startup Prime Hydration's alleged failure to honor a production contract has come up empty in Delaware's Court of Chancery, with aThursdayrulingthatthe complaint never tapped into the court's equity jurisdiction.
Nearly all the allegations of fraud, breach of contract and related claims lodged by healthcare technology venture Trifecta Multimedia Holdings Inc. against acquirer WCG Clinical Services have survived dismissal challenges and will move toward trial, a Delaware vice chancellor ruled Monday.
The Delaware Chancery Courts recent ruling in Salama v. Simon resolved statutory ambiguity in favor of boards seeking authorized share increases, and has important implications for litigators presenting extrinsic evidence in support of contract or statutory interpretation arguments, says Robin Wechkin at Sidley.
Contract educational institution bookstore operator Akademos Inc. was fairly sold in December 2020 under terms that left common stockholders wiped out, a Delaware vice chancellor has ruled after a four-day trial that both appraised the company's stock and judged the deal's fairness.
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.
A Delaware federal judge chastised Caterpillar Inc. ahead of trial in a series of orders mostly siding with claims from a defunct construction equipment supplier accusing the company of pressuring an online auctioneer to break an important contract with the would-be competitor.
Gilead Sciences and the federal government have agreed to dismiss all claims and counterclaims in a yearslong intellectual property and contract battleover HIV prevention drugs Truvada and Descovy, according to stipulations of voluntary dismissal filed Wednesday in both the Federal Circuit and Delaware federal court.
Verizon's real estate unit asked a Delaware vice chancellor to approve a $1.15 million attorney fee request for beating a Connecticut real estate investment firm's breach of contract suit, rejecting the losing side's call for offsets covering fees that Verizon said were never incurred.
Jurors headed to a second day of deliberations late Thursday after nearly four days of trial in Delaware federal court on Softbank Group subsidiary Arm Ltd.'s breached a protective contract for microprocessor core technology licensing agreements. s claims that Qualcomm Inc. and Nuvia Inc.
Lannett Pharmaceuticals hit generic drugmaker Areva Pharmaceuticals with a contract suit in Delaware's Court of Chancery on Thursday, accusing Areva of breaching their 2022 agreement that gave Lannett exclusive rights to distribute Areva's injectable anticancer drug after Lannett emerged from a prepackaged Chapter 11 bankruptcy.
Walgreens is urging a Delaware federal judge to rethink his decision enforcing a $987 million arbitral award to a lab testing and diagnostics company in a dispute over COVID-19 tests, arguing Tuesday that he ignored that the arbitrator "invented" language in the contract to arrive at his conclusion.
When cryptocurrency is the consideration to be paid on a contract and the contract is breached, how should a court calculate damages? That was the issue confronted by Judge Wallace in a case.
The Delaware Chancery Court on Thursday awarded $130 million to former shareholders of biopharmaceutical company Syntimmune in their breach of contract fight against AstraZeneca PLC unit Alexion Pharmaceuticals Inc.,
A Delaware vice chancellor on Thursday refused to dismiss a challenge to a $525 million deal in 2018 for OnCourse Learning Corp., noting that sellers cannot use a clause in a contract obtained by fraud to "eviscerate" buyer claims that the entire contract is an instrument of fraud.
public has sued for breach of contract in Delaware's Court of Chancery, alleging the company is refusing to issue more than 9.54 A Florida-based hedge fund that invested in a blank-check company that took battery company Solidion Technology Inc. million shares of stock that are due under pre-merger agreements.
faces a shareholder's breach of contract suit in Delaware's Court of Chancery alleging it failed to honor certain terms of its February deal to buy the meal replacement maker. The consumer packaged goods holding company that now owns Soylent Nutrition Inc.
The owner of rights and trademarks of Singer sewing machine products has sued its North American distributor in Delaware's Court of Chancery, seeking a court declaration that it could end their contract because the distributor failed to meet minimum billing and royalties requirements.
A Delaware bankruptcy court’s recent ruling in Hertz, disallowing claims for make-whole premiums and post-petition interest at the contract rate, could be relied upon by debtors to sidestep those provisions, and potentially provide higher recoveries for equity holders, say Theresa Foudy and Alexander Severance at MoFo.
on Monday succeeded in its bid to pause a contract dispute with the buyer of one of its business units so that Delaware's Court of Chancery can decide whether Western Union's former in-house counsel, now the buyer's chief legal officer, can remain involved in the litigation. The Western Union Co.
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