Delaware Business Court Insider | News
By Ellen Bardash | April 29, 2021
The district also continued to be one of the top places to file securities suits, according to Lex Machina's report on federal securities litigation released Thursday, as the number of federal securities filings climbed following key decisions by the state-level Court of Chancery.
Delaware Business Court Insider | News
By Ellen Bardash | April 28, 2021
Those fees are included in an over $45 million judgment leveled against Shire U.S. Holdings in a case that took the uncommon path of going to trial while plaintiffs were represented on contingency.
Delaware Business Court Insider | News
By Ellen Bardash | March 26, 2021
The derivative suit filed in the District of Delaware this week claims the Los Angeles-based company's board approved acquisitions of companies in which J2's chairman of the board, co-founder and an executive all had significant financial interests, then failed to disclose specifics that would have shown investors the deals weren't serving the company's interests.
Delaware Business Court Insider
By Alaina Lancaster | March 19, 2021
The order could be a signpost for rulings in several similar shareholder derivative suits filed in the last year seeking court orders compelling companies such as Oracle, Qualcomm and Cisco to diversify their leadership and board structures.
Delaware Business Court Insider | News
By Ellen Bardash | March 17, 2021
Vice Chancellor Paul Fioravanti found that with a dictionary definition of "day" as a 24-hour period and the fact that "trading day" and "business day" were both terms defined within the same document but not used, there was no way for the court to interpret the certificate to mean trading days rather than calendar days.
Delaware Business Court Insider
By Ellen Bardash | February 26, 2021
Superior Court Judge Eric M. Davis applied a broader definition of the insurance contract term "securities claim" that required coverage in a case over a challenge to a corporate spinoff and merger that was funded by debt instruments.
Delaware Business Court Insider
By Ellen Bardash | February 16, 2021
A complaint filed against Tricida Inc. and its directors Monday in the District of Delaware says the company touting its drug candidate as likely to be approved in August, then giving word parts of the drug application were deficient, led to share prices dropping from over $26 to less than $4 in the span of a few months.
New York Law Journal | Analysis
By Margaret A. Dale and Mark D. Harris | February 16, 2021
In December, the Delaware Supreme Court issued an opinion in 'Amerisourcebergen Corp. v. Lebanon Cnty. Emps.' Ret. Fund'. In their Securities and Corporate Litigation column, Margaret A. Dale and Mark D. Harris discuss the decision, which continues the trend of granting broad inspection rights to stockholders seeking materials pursuant to §220 of the Delaware General Corporation Law and likely will affect companies responding to broad stockholder books-and-records demands.
Delaware Business Court Insider | News
By Ellen Bardash | February 11, 2021
A shareholder plaintiff alleged that CEO and President Benjamin Silbermann, CFO Todd Morgenfeld and seven other board members kept company leadership an all-white "boy's club." The lawsuit demanded extensive changes to company bylaws.
Delaware Business Court Insider
By Ellen Bardash | February 10, 2021
In a complaint filed Monday in the District of Delaware, HC2 Holdings 2 Inc. and Continental General Insurance Co. allege majority shareholder Motorsport Games Inc. portrayed 704Games Company as being unprofitable and bought out their shares for $1.2 million, then months later went public with shares trading at more than 170 times that buyout value.
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