Recent News

Delaware Supreme Court Building

Bouchard Orders Pa. Pharma Services Firm to Turn Over $4.6M Tax Refund

By Tom McParland |

The Delaware Court of Chancery has ordered a Pennsylvania-based pharmaceutical-support services firm to turn over a $4.6 million tax refund that it had withheld from a deal partner.

Philip R. Shawe is an owner and the innovation behind the largest translation company TransPerfect. (wikimedia)

TransPerfect-Linked Group Seeks Access to Custodian Expenses

By Tom McParland |

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.

Ryan C. Cicoski and Jesse L. Noa

Recent Order Highlights Push for Trial Experience for New Attorneys

By Ryan C. Cicoski and Jesse L. Noa |

A 2017 standing order from U.S. Magistrate Judge Christopher Burke of the District of Delaware is part of an uptick in federal judges encouraging the participation of newer attorneys at trial.

United States Supreme Court Building

Unanswered Question in 'TC Heartland' Could Have Big Impact in Del.

By Tom McParland |

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.

Fight Over $73M in Humvee Joint Venture Profits Drives On

By Tom McParland |

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.

Tom Carper (D-DE), left, and Chris Coons (D-DE), right.

Who's in the Mix for Delaware's Federal Judgeships

By Tom McParland |

With the court nearing a vacancy crisis, at least five Republican lawyers have expressed interest. But one prominent state Republican said the process is "very much in limbo."

Patricia A. Winston and Edward McNally, of Morris James

Where Is Delaware Corporate Litigation Going?

By Edward M. McNally and Patricia A. Winston |

There are always risks involved in buying a company. Until you are actually inside a company's operations, you can never be sure you know everything about it.

Jennifer H. Rearden, Jefferson E. Bell and Michael Marron

Del. Supreme Court Clarifies, Applies Choice of Law to Multistate Disputes

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."

Glasscock Tosses $428M Derivative Suit Over Alleged Botched Merger

By Tom McParland |

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.

gavel

Bouchard Tosses Class Challenge to $400M Merger

By Tom McParland |

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.

Barry M. Klayman and Mark E. Felger

Tribal Sovereign Immunity of Casinos in Preference Actions

By Barry M. Klayman and Mark E. Felger |

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.

What to Consider When a US Public Company Acquires a Non-US Company

By By Jennifer V. Audeh and Corey R. Brown |

When it's time to sell a company, there are many financial and legal steps a target should consider regarding a merger or acquisition

Merger of Radioactive Waste Giants on Pause for Judge's Antitrust Ruling

By Tom McParland |

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.

Tesla electric car charging at a parking garage in Austin, Texas.

Firms Vie for Leadership Post in Tesla Derivative Litigation

By Tom McParland |

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.

Bouchard Rules Merger Wiped Out Derivative Standing in Case Over Mine Explosion

By Tom McParland |

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.

Clockwise, starting from top, Christopher B. Chuff, Joanna J. Cline, Douglass D. Herrmann, and James H.S. Levine

Boards Should Consider Adopting 'Director-Specific' Limits in Compensation Plans

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.

Brett McCartney

Stockholders' Complaint Survives Chancery's 'Corwin' Analysis

By Brett M. McCartney |

After a series of successful applications of the Corwin doctrine in Delaware's Court of Chancery, a plaintiff has finally survived a motion to dismiss where Corwin was applied.

Theranos Headquarters

What the Theranos Settlement Solves—And What It Doesn't

By Tom McParland |

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.

Hurricane Sandy.

NY Real Estate Management Firm Denied $3M in Sandy Insurance Coverage

By Tom McParland |

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.

Bouchard Scratches Hearing in Fight Over TransPerfect Deadlock

By Tom McParland |

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.