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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.