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CORPORATE UPDATE

Delaware Decisions Clarify Duties of Corporate Officers

Thursday, May 8, 2008

By Sheri Qualters
The National Law Journal

A trio of recent Delaware bankruptcy and Court of Chancery decisions illuminate, and possibly expand, the fiduciary duties of corporate officers who are not also company directors. In addition to clarifying how officers might be liable for corporate wrongdoing, the decisions also enhance the sparse body of Delaware case law that specifically highlights the duties of officers, according to lawyers.

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International Enforcement Of Restrictive Covenants

Thursday, May 8, 2008

By Philip M. Berkowitz

Philip M. Berkowitz, a partner at Nixon Peabody, looks at two recent cases in London which make clear that U.S. lawyers need to anticipate in draft choice-of-law and choice-of-forum clauses that foreign law may rule, and that the matter may be heard in a foreign court - particularly (as may seem obvious) where the employee competes overseas.

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Lawyers on Major Transactions

Thursday, May 8, 2008

Mars Inc., the maker of M&Ms and Snickers, has agreed to acquire chewing gum pacesetter Wm. Wrigley Jr. Co. for $23 billion. Also, just in time for Mother's Day, flower purveyor FTD Group Inc. is selling itself to United Online Inc. for approximately $800 million.

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