Chancery Court Chancellor Andre G. Bouchard has called off a May 5 hearing on an attempt to force a stockholder meeting to resolve crippling corporate deadlock at TransPerfect Global Inc., the latest development in a week of jockeying between opponents in a protracted fight over the future of the New York-based translation-services company.
The Delaware Court of Chancery has dismissed a shareholder challenge to the $400 million purchase of network solutions company Cyan Inc. and denied the investors' quasi-appraisal bid to recover damages for alleged disclosure deficiencies in the run-up to the merger.
A long-running fight over the distribution of nearly $73 million in profits generated by a joint venture to make Humvees will continue, after the Delaware Court of Chancery ruled that a contract governing the arrangement was open to more than one interpretation.
After years of delay, former stockholders of Massey Energy Co. have lost standing to bring a derivative suit against company executives over a 2010 mine explosion that killed 29 workers, the Delaware Court of Chancery said on Thursday.
Intellectual property attorneys are preparing for an influx of patent infringement suits in Delaware after the U.S. Supreme Court on Monday ruled that corporations "reside" only in their state of incorporation under the patent venue statute.
The Delaware Court of Chancery has stopped for now a tender offer that investors said would allow Theranos Inc. to "insulate itself" and hinder their ability to claw back a $96 million investment in the embattled blood-testing company.
The Delaware Court of Chancery has dismissed a $428 million shareholder derivative suit accusing The Williams Cos. Inc. board of using a planned $13 billion acquisition to torpedo the company's doomed merger with Energy Transfer Equity.
The U.S. Supreme Court will soon decide whether the plain language of the patent venue statute—or the Federal Circuit's 27-year-old deviation from it—will dictate the appropriate venue for patent infringement litigation.
Theranos Inc. announced Monday that it has settled two lawsuits brought by one of its biggest early investors, a move the embattled blood-testing company said would allow it to proceed with a short-term tender offer and set its sights on eventually bringing new technology to market.
A New York-based real estate management firm whose property was damaged during Hurricane Sandy cannot recover more than $3 million from its insurance provider because it waited too long to submit a claim, a Delaware judge ruled on Thursday.
By Jennifer H. Rearden, Jefferson E. Bell and Michael Marron
In a recent decision, the Delaware Supreme Court considered the "fundamental question" of whether "Delaware courts are required to treat insurance contracts that are part of a broad insurance program as legal documents with meaning that varies substantially based on where each claim happens to arise."
A lawyer who claims the concept for the popular web application Pinterest was stolen from him has won a preliminary ruling—extinguishing a cause of action advanced by his adversary—in his legal battle with an early investor in the idea-sharing platform. But the federal judge in the case called the skirmish a "lightweight exhibition" match and noted the main event in the litigation—a trade secrets lawsuit against the investor—lies ahead.
The D.C. District Court potentially has upended an assumption in bankruptcy courts, suggesting that in many cases, they lack that authority under Article III of the U.S. Constitution to enter a final order granting non-debtor, third-party releases, at least without the affected party's consent.
A group backed by employees of TransPerfect Global Inc. is pressing the Delaware Court of Chancery to release details of how the custodian overseeing the company's court-ordered sale has spent more than $18 million in fees and expenses.
Plaintiffs' attorneys are setting up for a battle in Delaware federal court over lead counsel status in derivative litigation challenging Tesla Inc.'s $2.6 billion bid to acquire an allegedly failing solar energy system installer SolarCity Corp.
By Christopher B. Chuff, Joanna J. Cline, Douglass D. Herrmann and James H.S. Levine
A recent decision by the Delaware Court of Chancery serves as a reminder that boards of directors of Delaware corporations should consider amending their company's director compensation plans to include specific limits on the amount of compensation that a director may be awarded in a given year.
A Delaware federal judge has dismissed a class action lawsuit from former employees of The Chemours Co. who said they were duped into taking a less generous buy-out deal as the chemical firm downsized after its spinoff from DuPont.
Persuaded by the arguments of the appellant noteholders, the Delaware Supreme Court ruled that two fee-shifting provisions in the promissory notes entitled them to recover attorney fees the noteholders incurred filing suit to secure warrants issuable under the notes.
A U.S. magistrate judge in Delaware has recommended that the court transfer a suit against Occidental Chemical Corp. related to toxic pesticide exposure to New York federal court, finding a lack of jurisdiction in Delaware.
The justices have shown no great deference to the Federal Circuit in recent years. Yet, they sound reluctant to overrule a 1990 decision that led to a crush of filings in the Eastern District of Texas.
The two market-leading radioactive waste disposal companies are awaiting a Delaware federal judge's ruling on whether their $367 million merger can proceed after a two-week antitrust trial wrapped up in Wilmington on May 5.
The U.S. Bankruptcy Court has denied a request by an Official Committee of Unsecured Creditors and its affiliated debtors-in-possession to reconsider and modify a final cash collateral order almost one year after its entry.
The Delaware Court of Chancery on April 14 dismissed a derivative lawsuit by a creditor of a limited liability company, who tried to dissolve the firm in connection with allegations that its managing members had defrauded lenders and drained the company's assets.
U.S. Bankruptcy Judge Christopher S. Sontchi has held that absent specific language in a debtor-in-possession financing order, a carve-out for a fixed dollar amount for professional fees does not serve as a cap on the amount of fees to which a professional may be entitled.
The reported $25 million parachute payment Bill O'Reilly received this week upon his ouster from Fox News in the wake of sexual assault allegations has generated plenty of headlines and public outcry. However, it was unlikely to expose the network's parent company to any significant liability from shareholder derivative suits, observers said on Friday.
Contract interpretation is a staple of litigation in the Delaware Court of Chancery. Disputes over the meaning of commercial contracts, foundational documents such as certificates of incorporation or bylaws or agreements governing alternative entities such as limited liability companies or limited partnerships require the court to interpret language in contracts. So too do merger, stock purchase or sale of asset agreements. With the expansion of jurisdiction under Section 111(a)(2) of the Delaware General Corporation Law (DGCL) in 2016, disputes over the interpretation of agreements arising out of stock purchase and asset sale agreements may be expected to increase the number of cases requiring the court to interpret parties' agreements. The recent case of Shareholder Representative Services v. Gilead Sciences, C. A. No. 10537-CB (March 15), illustrates the methodology the court uses to interpret a contract and provides a primer for litigants seeking guidance on how the Court of Chancery resolves contract disputes.
In a rare case involving resort to a Delaware statute's legislative history, Vice Chancellor J. Travis Laster held that Delaware's anti-SLAPP statute is to be construed narrowly so as to be applicable only to public petition and participation in land use proceedings, and is not a broad legal protection against defamation claims.
DuPont on Friday announced it would buy FMC Corp.'s health and nutrition business and sell its own crop protection unit to the company in order to win European approval for its merger with Dow ChemicalCo., delaying the closing of the blockbuster deal.
A lawyer for Nova Chemicals Corp. on Thursday asked the U.S. Court of Appeals for the Federal Circuit to undo a $2.5 million award of attorney fees to Dow Chemical Co., its opponent in a long-running patent dispute, which the Canadian plastics and chemicals firm had accused of perpetrating fraud against the court.
In a recent opinion, U.S. Bankruptcy Judge Christopher Sontchi of the District of Delaware addressed the interesting issue of the applicability and scope of the sovereign immunity of Indian tribes in the context of preference actions brought by a Chapter 11 trustee.
The Delaware Court of Chancery has allowed a former Saba Software Inc. stockholder to proceed with claims that the company rushed into a conflicted sale amid a regulatory crackdown, finding the director defendants were not entitled to the business-judgment deference, even though investors voted to approve the deal.
The Delaware Court of Chancery has dismissed a derivative suit accusing Investors Bancorp Inc. directors of giving themselves a "grossly excessive" compensation hike following the firm's mutual-to-stock public offering.
Secured creditors and debtor-in-possession (DIP) lenders that rely on standard carve-out provisions to limit the impact of bankruptcy professional fees on their collateral would be well-advised to take notice of a U.S. Bankruptcy Court decision from earlier this year.
A last-minute bid to break a crippling corporate deadlock at TransPerfect Global Inc. and perhaps avoid a court-ordered sale of the profitable translation-services company may have new life, after Delaware Court of Chancery Chancellor Andre G. Bouchard on Monday called a hearing to decide whether a forced sale should move forward.