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May 24, 2001 |

Reed Smith Hires Former Senator Roth

In a hiring coup for Pittsburgh-based Reed Smith, former U.S. Sen. William V. Roth Jr. will join the firm and expects to tap into the contacts he amassed in taxes, trade, financial services and foreign policy in more than three decades representing the state of Delaware in Congress. Roth, who lost his re-election bid last November, will work in Reed Smith's Wilmington and Washington, D.C., offices.
3 minute read
March 06, 2013 |

Poison Pill Not Preclusive in $123 Mil. BioClinica Merger, Chancery Court Rules

The Delaware Court of Chancery has denied a motion by shareholders of BioClinica Inc. to expedite their lawsuit against the company, holding that the company did not adopt preclusive deal protection measures when it agreed to a $123 million buyout from JLL Partners Inc. The court's decision means that any trial will not likely start until after the merger's expected completion date of March 11.
4 minute read
November 17, 1999 |

Shareholder Suit

Hotelier Wyndham International Inc. won a Delaware judge's approval for a settlement of a shareholders' lawsuit that allows investors to buy $300 million in preferred shares as part of a $1 billion stock sale. Vice Chancellor Jack Jacobs said he "had no doubt" that Wyndham's settlement with shareholders and the $1.12 million in legal fees and expenses sought by stockholders' lawyers was fair and should be approved. Wyndham and the other companies in the case have agreed to pay the legal fees.
3 minute read
March 08, 2000 |

Health Educator Claims Epotec Wrongly Dismissed Her to Avoid Granting Stock Options

A health educator hired by Epotec Inc., an Internet-based health information provider, sued her ex-employer, claiming she was duped into working an exhausting schedule and then wrongly fired to keep her from collecting stock options that might be worth nearly $1 million.
4 minute read
August 23, 2006 |

Tower Records Replays Bankruptcy Filing

Tower Records filed for Chapter 11 on Sunday in Delaware and intends to auction the company. Those planning to bid are not hoping to save the company, but are "bone pickers" who are looking to buy and sell, an industry source said. This is Tower's second stint in Chapter 11 in the last two years. Former CEO Allen Rodriguez, who saw Tower through its first bankruptcy, was recently asked to leave before his contract ended. "Time has marched on, and Tower hasn't kept with the beat," the source noted.
5 minute read
October 04, 1999 |

Hotelier Accepts Settlement, Puts Out Welcome Mat for Angry Investors

Hotelier Wyndham International Inc. and other defendants agreed to settle shareholders' suits filed over a $1 billion stock sale by the fourth-largest U.S. hotel company and to pay up to $1.25 million in plaintiffs' legal fees and expenses. Wyndham, formerly Patriot American Hospitality Inc., agreed to sell a 30 percent stake in convertible preferred stock for $700 million. Patriot shareholders filed suit, saying the company sold the shares too cheaply.
3 minute read
July 13, 2001 |

Zany Brainy Sale Not All Fun and Games for Morgan Lewis Attorneys

After Zany Brainy filed for Chapter 11 bankruptcy, its executives wanted a quick resolution to its problems. So a team of Morgan Lewis & Bockius lawyers was instructed to move fast to find a suitable buyer for the financially strapped toy retailer. Less than two months later, company officials and their creditors got their wish when the assets were sold to Waterton Management for $115 million.
4 minute read
January 04, 2001 |

Happy Days for Delaware Lawyers in 2000

With a vibrant economy most of the year, Delaware lawyers practicing in 2000 found none of the catastrophes predicted for the supposed start of the new millennium but instead experienced an expanding client base and rising salaries. As far as Delaware's three major venues are concerned -- the Court of Chancery, U.S. District Court and U.S. Bankruptcy Court -- no great surprises, but a few headline grabbers.
10 minute read
December 29, 1999 |

Judge Strikes Down Investor Lawsuit in $1.15 Billion Sale of Arco Chemical Co.

Arco Chemical persuaded a Delaware Chancery Court judge to throw out a lawsuit filed by a former stock owner who said she'd been shortchanged in a $1.15 billion acquisition by rival Lyondell Chemical. Mary McMullen claimed Arco's board didn't shop around for the best price and hid information about the deal from investors. But Judge Myron T. Steele dismissed her suit. "The plaintiff pleads no facts showing that Arco Chemical's board acted out of self-interest or with gross negligence," Steele said.
3 minute read
February 15, 2001 |

Stumbling GOP Places Hopes on Connolly and Lee

Although two years have elapsed since Thomas J. Capano's riveting murder trial, fame has yet to flee from Colm F. Connolly, the ex-prosecutor who tried the case, and William Swain Lee, the retired Delaware Superior Court judge who presided and then ran for governor. Today they are regarded as two of the more intriguing political prospects in the Delaware Republican Party.
7 minute read

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