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Delaware
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August 23, 2024
Caterpillar Can't Nix $12.9M Jury Loss In Wirtgen IP Row
A Delaware judge has declined to overturn a $12.9 million verdict that Caterpillar was ordered to pay machinery manufacturer Wirtgen for infringing five road-milling machine patents, rejecting Caterpillar's equitable defenses that included the patents are unenforceable because of an unreasonable delay in the patent application process.
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August 23, 2024
Cantor, Lutnick OK $12M Deal To End View Inc. Suit In Del.
Cantor Fitzgerald LP and its billionaire Chair and CEO Howard Lutnick on Thursday agreed to a $12 million settlement to resolve stockholder challenges to a special purpose acquisition company transaction that took window company View Inc. public, with a Delaware Court of Chancery hearing set for Dec. 6.
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August 23, 2024
Insurance Software Co. Probe, Insider Sales Prompt Del. Suit
A MediaAlpha Inc. stockholder sued in Delaware's Court of Chancery on Thursday for access to the insurance marketing platform developer's books and records, pointing to stock sales by the company's two controlling investors that allegedly allowed them to avoid $66 million in stock drop losses.
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August 23, 2024
Electric Car Co. Fisker Promises Ch. 11 Plan In A Week's Time
A Delaware bankruptcy judge Friday gave defunct electric-vehicle maker Fisker Inc. permission to enter into a deal with its lenders that will see it file a Chapter 11 plan by the end of August and seek court approval for the plan in just over a month.
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August 23, 2024
Clinic Biz Can Tap Additional Ch. 11 Lifeline, Judge Says
A Delaware bankruptcy judge agreed on Friday to allow clinic operator Pioneer Health to take on more debtor-in-possession financing as it works toward an asset sale, finding the latest arrangement to be in the debtor's best interest.
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August 23, 2024
Delaware Lets Ventis Move Pacira's False Ad Suit To Calif.
Ventis Pharma Inc., a pharmaceutical company developing nonopioid anesthetics, got a federal court's approval Friday to move a false advertising lawsuit filed by competitor Pacira BioSciences Inc. from Delaware to California, where Ventis is based.
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August 22, 2024
Del. Jury Says No Infringement, Axes Data Storage IP Claims
A Delaware federal jury found Thursday that Scale Computing Inc. did not infringe DataCore Software Corp.'s data storage patent and determined that the asserted claims are invalid as anticipated.
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August 22, 2024
3rd Circ. Denies Liberian Bank Whistleblower's Asylum Bid
The Third Circuit ruled Thursday that a Liberian man can't claim asylum despite having "suffered horrors" after unearthing a fraud scheme involving Liberian government officials' relatives and refusing a politician's bribe, saying he did not show evidence that his alleged perpetrators targeted him for having an anti-corruption political opinion.
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August 22, 2024
Smartmatic, Newsmax Defamation Suit Heads To Del. Trial
A Delaware Superior Court judge on Thursday teed up a four-week trial starting Sept. 30 on voting machine provider Smartmatic USA Corp. claims that it was defamed by unsubstantiated Newsmax Media Inc. reports tying the voting tech company to alleged conspiracies to steal the 2020 presidential election.
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August 22, 2024
Judge Delays AI Trial In Thomson Reuters, ROSS IP Row
A Delaware federal judge on Thursday delayed the first trial involving an artificial intelligence product, postponing a highly anticipated clash in which Thomson Reuters is accusing tech startup ROSS Intelligence of creating an AI legal research platform using copyrighted material from the media company's Westlaw database.
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August 22, 2024
Crypto Lobbyist Hit With FTX Campaign Finance Charges
Manhattan federal prosecutors announced Thursday that Michelle Bond, a crypto industry lobbyist and the girlfriend of convicted former FTX executive Ryan Salame, has been charged with getting the now-defunct digital asset exchange to illegally finance her unsuccessful 2022 congressional campaign.
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August 21, 2024
FTX's Salame Says Feds Broke Deal Not To Probe Girlfriend
Former FTX executive Ryan Salame urged a New York federal judge Wednesday to either vacate his May conviction or stop federal prosecutors from investigating his domestic partner Michelle Bond for related political campaign-finance offenses, saying prosecutors induced his guilty plea by promising not to probe Bond.
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August 21, 2024
Hunter Biden Can't Link Trauma, Drug Abuse To Tax Charges
Hunter Biden can't tell jurors in his criminal tax trial that traumatic events like his brother's death caused his addiction, which led to a diminished mental capacity and his failure to pay taxes, a California federal judge said Wednesday, noting the information was irrelevant and not backed by expert opinion.
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August 21, 2024
No Coverage For CVS In Additional Opioid Actions
A Delaware state court ruled that CVS cannot get coverage for over 200 opioid-related actions that remained at issue after the pharmacy chain and its insurers agreed that thousands of other opioid suits aren't covered, finding the remaining suits asserted claims for economic harm, not bodily injury or property damage.
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August 21, 2024
Student Loan Trusts Rip 'Aggressive' CFPB In High Court Bid
Fifteen Delaware student loan trusts have petitioned the U.S. Supreme Court to rescue them from a long-running Consumer Financial Protection Bureau enforcement lawsuit, asking to appeal a Third Circuit decision that said the securitization vehicles were subject to the agency's authority.
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August 21, 2024
Full 3rd Circ. Won't Hear Distillery Investor's RICO Case
An investor in a Pennsylvania craft distillery who accused his former business partner and a bevy of associates of racketeering, fraud and trade secret violations has failed to persuade a Third Circuit panel or the full court to take another look at his arguments about reviving the dismissed case.
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August 21, 2024
Chancery Orders Genworth Suit Funding, Fee Terms Released
Attorneys for Genworth Life Insurance Co. long-term policyholders who sued the company in Delaware's Court of Chancery over the sale of valuable subsidiaries lost a battle on Wednesday to bar the disclosure of litigation funding and fee agreements.
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August 21, 2024
Cyber Tech Biz Sued In Del. After Thoma Bravo-Backed Merger
An Exabeam Inc. stockholder sued in Delaware's Court of Chancery on Wednesday for post-merger appraisal of his shares, in part to assure access to books and records related to a tie-up with LogRhythm Inc., alleging multiple disclosure concerns prior to the Thoma Bravo-aligned deal.
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August 21, 2024
3rd Circ. Affirms Health Chain Win In Pa. Hospital Sale Dispute
The seller of a Pennsylvania hospital was in compliance with its state licensing requirements when the facility was sold, and thus, did not violate the terms of the sale agreement when the buyer needed to update its fire-safety plans to stay licensed, the Third Circuit has affirmed.
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August 21, 2024
Boeing Seeks Chancery Bar To Early Books Suit Depositions
The Boeing Co. has asked a Chancery Court magistrate to shoot down a stockholder push for an order requiring early-stage depositions of company officials in support of a recent books and records suit, saying it's a new litigation pressure tactic.
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August 21, 2024
3rd Circ. Rejects Ex-Engineering Co. GC's Benefits Suit
The Third Circuit refused Wednesday to revive a former general counsel for an engineering company's suit claiming he was stiffed on over $100,000 in retirement benefits, rejecting his argument that a $1 million payout he got from the company should have been factored into his benefits package.
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August 20, 2024
Chancery Flummoxed By Long-Voided Corporate Plaintiff
An unusual corporate law dilemma had a Delaware vice chancellor saying Tuesday that she was without options for dealing with a Philippines-based zombie company recently deemed void since 2020 despite also acting as one plaintiff in a Court of Chancery stock purchase dispute filed in 2022.
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August 20, 2024
Advanced Bionics Sues Med-El At ITC Over Implant Patents
Switzerland's Advanced Bionics has brought claims against Austria's Med-El at the U.S. International Trade Commission, alleging the rival maker of cochlear implants is infringing two patents on hearing aid technology and seeking an exclusion order banning Med-El's products from being imported into the U.S.
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August 20, 2024
Steward Health, Landlord Spar Over Ch. 11 Hospital Sales
Bankrupt hospital operator Steward Health Care has filed an adversary suit against the landlord for 30 of its hospitals, Medical Properties Trust, saying the landlord is throwing a wrench in the sale process for the facilities and trying to hoover up all the proceeds.
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August 20, 2024
Feds Fight Ex-Pa. Town Official's Appeal Of CWA Conviction
The federal government on Tuesday urged the Third Circuit to reject a former Pennsylvania township official's bid to undo his conviction for environmental and financial crimes committed during his time as director of the municipality's sewage authority.
Expert Analysis
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Del. Ruling Adds Momentum For Caremark Plaintiffs
The Delaware Supreme Court's recent opinion in Lebanon County Employees' Retirement Fund v. Collis could be viewed as expanding plaintiffs' ability to viably plead a Caremark claim against directors, so Delaware companies should be on heightened alert and focus on creating a record of board oversight, say attorneys at V&E.
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The Legal Industry Needs A Cybersecurity Paradigm Shift
As law firms face ever-increasing risks of cyberattacks and ransomware incidents, the legal industry must implement robust cybersecurity measures and privacy-centric practices to preserve attorney-client privilege, safeguard client trust and uphold the profession’s integrity, says Ryan Paterson at Unplugged.
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5 Reasons Associates Shouldn't Take A Job Just For Money
As a number of BigLaw firms increase salary scales for early-career attorneys, law students and lateral associates considering new job offers should weigh several key factors that may matter more than financial compensation, say Albert Tawil at Lateral Hub and Ruvin Levavi at Power Forward.
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1869 Case May Pave Off-Ramp For Justices In Trump DQ Fight
In deciding whether former President Donald Trump is disqualified from Colorado's Republican primary ballots, the U.S. Supreme Court could rely on due process principles articulated in a Reconstruction-era case to avert a chaotic or undemocratic outcome, says Gordon Renneisen at Cornerstone Law Group.
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Series
Playing Competitive Tennis Makes Me A Better Lawyer
My experience playing competitive tennis has highlighted why prioritizing exercise and stress relief, maintaining perspective under pressure, and supporting colleagues in pursuit of a common goal are all key aspects of championing a successful legal career, says Madhumita Datta at Lowenstein Sandler.
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The Questions Around Prometheum's SEC-Compliant Strategy
While the rest of the crypto industry has been engaged in a long-running battle to escape the U.S. Securities and Exchange Commission's jurisdiction, a once-obscure startup called Prometheum has instead embraced the SEC's view to become the first crypto special-purpose broker-dealer, but it's unclear whether it can turn its favored status into a workable business, says Keith Blackman at Bracewell.
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NY, Del. May Be Trending Against Noncompete Enforceability
While neither New York nor Delaware has statutory restrictions on noncompete provisions, recent legislative actions and judicial decisions indicate a trend against enforcement of restrictive covenants in both equity award and employment agreements, says Irene Bassock at Cohen Buckmann.
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Series
The Pop Culture Docket: Judge Djerassi On Super Bowl 52
Philadelphia Court of Common Pleas Judge Ramy Djerassi discusses how Super Bowl 52, in which the Philadelphia Eagles prevailed over the New England Patriots, provides an apt metaphor for alternative dispute resolution processes in commercial business cases.
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Del. Ruling Features Valuable Analysis For IPR Estoppel Args
Last month, the District Court of Delaware held in Prolitec v. ScentAir Technologies that IPR estoppel does not apply to device art, and the analysis in the case provides welcome illumination for how IPR estoppel arguments should be decided, says Chris Ponder at Sheppard Mullin.
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Del. Dispatch: Efforts Clause Trumps Contractual Right
The Delaware Court of Chancery's Chordia v. Lee ruling this month — that the efforts clause set forth in a stockholders' agreement overrode the acquired company's right to fire its officers and employees — highlights key considerations for parties in such agreements to avoid post-acquisition disputes, say attorneys at Fried Frank.
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Employee Experience Strategy Can Boost Law Firm Success
Amid continuing business uncertainty, law firms should consider adopting a holistic employee experience strategy — prioritizing consistency, targeting signature moments and leveraging measurement tools — to maximize productivity and profitability, says Haley Revel at Calibrate Consulting.
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Series
Competing In Triathlons Makes Me A Better Lawyer
While practicing law and competing in long-distance triathlons can make work and life feel unbalanced at times, participating in the sport has revealed important lessons about versatility, self-care and perseverance that apply to the office as much as they do the racecourse, says Laura Heusel at Butler Snow.
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Mitigating Compliance And Litigation Risks Of Evolving Tech
Amid artificial intelligence and other technological advances, companies must prepare for the associated risks, including a growing suite of privacy regulations, enterprising class action theories and consumer protection challenges, and proliferating disclosure obligations, say attorneys at Eversheds Sutherland.
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Where Justices Stand On Chevron Doctrine Post-Argument
Following recent oral argument at the U.S. Supreme Court, at least four justices appear to be in favor of overturning the long-standing Chevron deference, and three justices seem ready to uphold it, which means the ultimate decision may rest on Chief Justice John Roberts' vote, say Wayne D'Angelo and Zachary Lee at Kelley Drye.
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Precise Advance Notice Bylaws May Help Prevent Disputes
While the Chancery Court's December decision in Kellner v. AIM Immunotech shows that Delaware courts won't always uphold advance notice bylaws, and its willingness to selectively enforce or invalidate individual provisions doesn't create an incentive for companies to be surgical in their drafting, companies should nonetheless be precise when drafting such bylaws to avoid unnecessary disputes, say attorneys at Debevoise.