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Delaware Business Court Insider
By Timothy R. Dudderar and Daniyal M. Iqbal | December 6, 2017
In a case involving allegations of unusually egregious conduct by directors of a Delaware corporation, the Delaware Court of Chancery in Kandell v. Niv, C.A. No. 11812-VCG (Del. Ch. Sept. 29) (Glasscock, V.C.) found that directors of FXCM, Inc. faced a substantial likelihood of liability for demand futility purposes on a claim alleging that they knowingly allowed FXCM to engage in an illegal business practice, despite the lack of allegations suggesting that the directors were ever explicitly notified that the practice was illegal.
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By Robert L. Hickok and Gay Parks Rainville | December 5, 2017
On Nov. 6, a three-judge panel of the U.S. Court of Appeals for the Second Circuit issued an opinion in Waggoner v. Barclays, No. 16-1912, 2017 U.S. App. LEXIS 22115 (2d Cir. Nov. 6, 2017), that—if allowed to stand—will make it significantly easier for plaintiffs to obtain class certification in actions alleging violations of Section 10(b) of the Securities Exchange Act of 1934, 15 U.S.C. Section 78j(b), and Securities and Exchange Commission Rule 10b-5 (10(b) actions) against large, publicly traded companies.
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By Lidia Dinkova | December 1, 2017
Raymond has represented clients ranging from high-profile corporations like Carnival Cruise Line to individuals like the New York nun whose money he recovered after she lost it because of a broker's poor investment decisions.
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Delaware Business Court Insider
By John A. Neuwirth, Joshua S. Amsel, Christine T. Di Guglielmo and Evert J. Christensen Jr. | November 29, 2017
Since 'Trulia', there has been a decline in Delaware in the number of run-of-the-mill challenges to nearly every public company merger transaction. But while the volume of merger litigation in Delaware has been on the decline, there has been a noticeable surge in filings in other jurisdictions, particularly federal courts.
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By Roy Strom | November 28, 2017
The global legal giant is now among a throng of law firms offering free legal documents for startups, joining a broader trend of using document automation tools to attract clients.
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Delaware Business Court Insider
By Pamela L. Millard | November 22, 2017
On June 28, 2017, the Delaware Supreme Court reversed the Court of Chancery's prior ruling in Chicago Bridge & Iron v. Westinghouse Electric, 2016 WL 7048031 (Del. Ch. Dec. 5, 2016), rev'd, 2017 WL 2774563 (Del. June 28), holding that an independent auditor appointed to resolve purchase price adjustment disputes relating to a sale transaction was not empowered to decide challenges to the seller's compliance with GAAP in connection with a post-closing true up of net working capital.
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Delaware Business Court Insider
By Tom McParland | November 20, 2017
A Delaware vice chancellor on Monday delayed making his ruling on a shareholder suit accusing Straight Path Communications Inc. of allowing its controller to funnel "hundreds of millions" of dollars' worth of assets away from the company as a part of its planned $3.1 billion sale to Verizon.
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Delaware Business Court Insider
By Tom McParland | November 20, 2017
A review of Delaware's federal docket has shown that defendants in patent infringement cases are increasingly citing Delaware's judicial vacancies in support of motions to transfer the cases out of the district after a visiting judge first raised the issue two months ago.
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By John C. Coffee Jr. | November 15, 2017
In his Corporate Securities column, John C. Coffee Jr. writes: The pattern of the vast majority of activist challenges being settled through private negotiations makes the settlement process academically interesting. What gets negotiated? And with what outcomes?
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Delaware Business Court Insider
By Jason J. Mendro and Jeffrey S. Rosenberg | November 15, 2017
It is an all-too familiar accusation to many directors: If only you had done something more, the corporation could have avoided an injury or loss. Since the mid-1990s, Delaware courts have repeatedly recognized that attempting to pin personal liability on directors for their alleged inaction is “possibly the most difficult theory in corporation law upon which a plaintiff might hope to win a judgment,” as in In re Caremark International Derivative Litigation, 698 A.2d 959, 967 (Del. Ch. 1996).
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