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Ending one skirmish amid the legal battles at Tesla over excessive compensation, a Delaware Chancery Court on January 8 approved a deal that Teslas board of directors struck 18 months ago to return roughly $919 million to the company. Along with the settlement, Delaware Chancery Court Chancellor Kathaleen McCormick also approved $176.2
The state’s top court upheld fee-shifting of a contingent fee. The post Why A Delaware Supreme CourtDecision Affirming Shifting A Contingency Fee To The Losing Party Could Have Applications To Recovering The Costs Of Litigation Funding appeared first on Above the Law.
Delaware Chancery Courtdecisions last week touched on foot powder litigation, an AMC settlement and in-person signage as damage control for a postponed hearing. New cases ranged from Amazon sales centers to a fibrosis drug.
The post DelawareCourtDecision Adds to SPACs’ Woes appeared first on Intelligize. The blank-check entities unofficially became a fad around the time SPACs affiliated with celebrities such as Shaquille O’Neal and Ashton Kutcher launched.
Share The Relist Watch column examines cert petitions that the Supreme Court has relisted for its upcoming conference. Once again this week, the Supreme Court has been busy sifting through the relists. And the court denied review of a petition raising a First Amendment challenge to university bias-response teams.
In Delaware v. Supreme Court held that uncashed MoneyGram checks are governed by the Disposition of Abandoned Money Orders and Traveler’s Check Act (FDA) and should be returned to the state where they were issued. According to the Court, the Disputed Instruments share two relevant similarities with money orders.
A recent Delaware Chancery Courtdecision highlights the liability risks faced by directors and sponsors of special purpose acquisition companies and the importance of robust disclosure in protecting against those risks.
By Dennis Crouch In 1931, the United States Supreme Court decided a landmark case on the patentability of inventions, De Forest Radio Co. Teva petition, with the patentee arguing that the court’s standard from 1931 has been relaxed by the Federal Circuit’s “reasonable expectation of success” standard.
Recent state courtdecisions mirroring procedures employed by the Delaware Chancery Court to short-circuit the adjudication of disputes concerning ultra vires corporate acts are a welcome sign for parties who are required to litigate their corporate disputes outside of Delaware, say attorneys at Akerman.
Since the Supreme Court struck down New York’s longstanding gun law, lower courts have ruled heavily against restricting guns, reports Jacob Gershman in the Wall Street Journal. . Circuit Court of Appeals. But such efforts are unlikely to have traction following the June 23 decision.
Supreme Courtdecision limiting the use of Section 1782, recent trends from a Delaware federal court suggest that Delaware remains an appealing forum for such foreign discovery requests, says Florentina Field at Abrams & Bayliss. Despite a U.S.
Two more companies are asking the Delaware Chancery Court to retroactively validate long-ago completed share issuances, saying a recent Chancery Courtdecision has cast doubt on the validity of their common stock and is threatening to derail financing, regulatory filings and stockholder votes.
T-Mobile asked the Delaware Supreme Court Wednesday for a rare argument do-over after a split, full-court opinion sent back for further review a Chancery Courtdecision barring Cox Communications Inc. from partnering with Verizon on wireless services rather than pursuing a tie-up with Sprint.
The Delaware Supreme Court has affirmed a Chancery Court'sdecision to toss a lawsuit over an alleged insider trading scheme at restaurant chain El Pollo Loco that purportedly netted $118 million, with one dissenting justice questioning the independence of a board committee created to investigate the claims.
This means that issues decided at the district or administrative court level can be binding on all other courts: district courts, administrative courts, appellate courts, and even the Supreme Court. District courtdecisions are not binding precedent because they are at the bottom.
The Delaware Supreme Court on Thursday upheld the Chancery's court'sdecision to throw out nCino investor claims against company directors and investment firm Insight Venture Partners challenging the financial technology company's $1.2 billion acquisition of mortgage loan platform SimpleNexus.
Delaware's Supreme Court on Wednesday backed a Chancery Courtdecision awarding an almost record-breaking $266.7 million fee for stockholder attorneys who settled a class action against Dell Technologies Inc. for $1 billion, saying the Chancery "did not exceed its discretion in setting the fee percentage."
Critics of a fast-tracked proposal to amend Delaware's General Corporation Law to give controlling stockholders wider influence or vetoes over some board decisions are urging the state's bar association to tap the brakes, following a Chancery Courtdecision striking down a Moelis & Co.
The Delaware Supreme Court on Monday refused to revive investors' $500 million challenge to Maxim Integrated Products Inc.'s leaving intact a Chancery Courtdecision throwing out the case in May. s $21 billion merger with Analog Devices Inc.,
petitioned Delaware'sCourt of Chancery on Thursday to retroactively confirm a stockholder-approved share increase after a recent Chancery Courtdecision caused the board to question whether the company had overissued as many as 115,120,243 shares. Electric carmaker Lordstown Motors Corp.
The Delaware Supreme Court on Thursday sent back for reconsideration a Chancery Courtdecision that dismissed without judicial review a Kiromic Biopharma Inc. board committee ruling that a company stock grant to a director in 2017 correctly erased two earlier stock awards.
Delaware's Supreme Court on Wednesday affirmed a Chancery Courtdecision that the former CEO of 3D model maker Matterport Inc. may freely trade his 1.3 million company shares and is not bound by trading restrictions adopted in a 2021 merger with a blank-check company.
billion sale to private equity giant Apollo Global, a Third Circuit panel held Friday, affirming a Delaware federal court'sdecision tossing investors' proposed securities class action against the image-sharing company. Shutterfly didn't issue a misleading proxy statement ahead of its $2.7
billion in indirect payments, according to a Delaware Superior Courtdecision unsealed Wednesday that found the underlying suit was a covered securities claim. Verizon Communications Inc. is covered for a $95 million settlement in a fraudulent transfer suit by a bankruptcy trustee to claw back $2.3
The Delaware Supreme Court affirmed a Chancery Courtdecision ordering a medical claims management company to pay the legal fees of its ex-CEO after he was found liable for breaching his fiduciary duties.
In a ruling affirming Delaware's corporate law deference to valid partnership contracts, the state's Supreme Court on Monday reversed a Chancery Courtdecision that last year invalidated "forfeiture for competition" terms in Cantor Fitzgerald LP's limited partnership agreements, unwinding a win worth $12.5
The Delaware Supreme Court on Thursday upheld a Chancery Courtdecision to toss a suit challenging the $875 million acquisition of Berkeley Point Financial LLC by Cantor Fitzgerald LP CEO Howard Lutnick and Lutnick-controlled BGC Partners Inc. in 2017, agreeing it was a fair deal.
The Delaware Supreme Court reversed a Chancery Courtdecision that awarded former minority unit-holders of Boardwalk Pipeline Partners LP $690 million in their class action lawsuit over a $1.5
Citing courtdecisions that set basic principles and limits for stockholder pre-suit document demands, a Delaware vice chancellor on Monday rejected a McDonald's Corp. stockholder bid for a deeper probe into two top officers' alleged misconduct by delving into the company's books and records.
A seemingly routine Delaware Chancery Courtdecision about a stockholder vote on a share increase has suddenly blown up confidence in billions worth of publicly traded securities, leaving a growing number of corporations to try to "clean up the shrapnel" with a decade-old statutory tool.
Court of Appeals for the Federal Circuit has begun 2023 with its first precedential patent decision in DexCom, Inc. In an opinion by Judge Stoll, the court affirmed a district courtdecision denying DexCom’s motion for a preliminary injunction. District Court for the District of Delaware.
Thus, ANDA patent lawsuits are ordinarily decided by bench trial–and typically by one of the Delaware district court judges. The district court (Judge Connolly) held a three-day bench trial and ultimately issued a judgment of noninfringement. Neither courtdecision discusses the doctrine of equivalents.).
There are state courts and federal courts, state statutes and federal statutes, state common law and federal common law. This feeling of pity is compounded when I imagine this same lawyer trying to advise her client as to whether a choice-of-court clause will be enforced by a court in the United States.
SPACs also got some good news recently courtesy of a Delaware Chancery Courtdecision dismissing claims challenging “de-SPAC” merger disclosures. The court found that the claim “would fuel perverse incentives and invite strike suits.” In the case, In re Hennessy Capital Acquisition Corp.
Share The Relist Watch column examines cert petitions that the Supreme Court has “relisted” for its upcoming conference. The court denied cert on Monday. Justice Sonia Sotomayor, joined by Justices Stephen Breyer and Elena Kagan, filed an opinion dissenting from the court’s denial of summary vacatur.
Supreme Court declined to hear a petition on whether the climate liability cases should be heard in state or federal court. As a result, 11 cases will be remanded to state court to move towards motions to dismiss, discovery, and trial. Several factors led to the Supreme Court’sdecision. On April 24, the U.S.
Becerra , the company requested, but the Court refused to an administrative stay of these fines until the lawsuit was settled. According to AstraZeneca’s court filings, the fines alone would accrue to the tune of $530 million per month. Federal Court Found HRSA’s Advisory Opinion Was Based on Faulty Legal Grounds.
With the District Court of Delaware’s January 4 decision in a similar case (brought by GSK’s lawyers), Amarin v. Relying heavily on the Federal Circuit’s contention that the decision in GSK v. The Court, however, would not dismiss similar allegations as applied to health insurer. In the wake of GSK v.
With the District Court of Delaware’s January 4 decision in a similar case (brought by GSK’s lawyers), Amarin v. Relying heavily on the Federal Circuit’s contention that the decision in GSK v. The Court, however, would not dismiss similar allegations as applied to health insurer. In the wake of GSK v.
Federal Court Found Flaws in New Climate Change Analysis for Wyoming Oil and Gas Leases. The federal district court for the District of Columbia ruled that the U.S. Second, the court concluded that BLM should have calculated and considered total greenhouse emissions, instead of merely relying on comparisons of yearly emission rates.
After a setback before the Delaware Supreme Court, the University of Delaware is continuing its dogged effort to prevent the public from seeing the senatorial papers of President Joe Biden. The Delaware Supreme Court has now sent the matter back to the lower court for additional review. Becnel-Guzzo, Esq.,
Federal Court in Rhode Island Allowed Failure-to-Adapt Claims to Proceed. The federal district court for the District of Rhode Island for the most part denied a motion to dismiss a citizen suit asserting that Shell Oil Products US and other defendants (Shell) failed to prepare a terminal in Providence for the impacts of climate change.
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