In a May 16, 2013 decision ( here ),
Eastern District of Missouri Magistrate Judge Terry Adelman ,
applying Missouri law, determined that the failure of an insured under a
management liability insurance policy to provide timely notice of claim
by Robert N. Rapp
In cases whether allegedly
incriminating statements given in the course of interviews during an internal
investigation conducted by the Audit Committee with the assistance of outside
counsel and forensic accountants should be admitted...
Plains Exploration & Production Company Stockholder Litigation ,
Cons., C.A. No. 8090-VCN (Del. Ch. May 9, 2013) [ an enhanced version of this opinion is available to lexis.com
Issues Addressed :
Were Revlon duties of the...
The collapse of the venerable Dewey & LeBoeuf law firm is a cautionary tale from which observers have drawn many lessons, including cautions about the perils associated with large law firm mergers and the challenges associated with various forms of...
An interesting and growing debate in the antitrust arena
is whether most favored nation ("MFN") pricing provisions are pro-competitive
or anticompetitive. For many years, MFN provisions have been considered a
fairly noncontroversial contract...
Holdings LLC v. The Renco Group, Inc ., C.A. No. 7639-VCN (Del. Ch.
April 18, 2013). A prior Chancery decision in this case was highlighted on
at this link.
Issue Addressed :
Whether the attorney/client privilege and the...
In what the plaintiffs' lawyers claim to be the largest
derivative lawsuit settlement ever, the parties to the News Corp. shareholder
derivative litigation have agreed to settle the consolidated cases for $139
million. The company also agreed to...
The earth rotates around the sun. Galaxy Doppler shifts
are almost always redshifts. The further away the galaxy the faster it is
I'm learning a lot in my first class, Cosmology, in the University of Chicago Masters in Liberal Arts...
Comverge, Inc., Shareholders Litigation , C.A. No. 7368-VCP (Del. Ch.
April 10, 2013) [ an enhanced version of this opinion is available to lexis.com
Issue Presented :
Whether the attorney-client privilege was a defense to...
Lee Farkas, the criminally convicted former Chairman and
majority shareholder of the defunct Taylor Bean and
Whitaker Mortgage Corporation , must repay the nearly $1 million in
defense fees the company's D&O insurer had advanced on his behalf...
I put two new columns up at Forbes recently that talk
about JPMorgan, PwC, Senator Levin's "Whale" hearings, and all the other stuff
JPMorgan and Jamie Dimon are really worried about. The New York Times had
an interesting scoop about...
There has been a back and forth between the Chancery Court and the Delaware
Supreme Court about whether there are default fiduciary duties for LLCs.
The Chancery Court takes the position that there are default fiduciary
duties, though you may contract...
Louisiana Municipal Police Employees' Retirement System, No.
380, 2012 (Del. Supr., April 4, 2013) [ an enhanced version of this opinion is available to lexis.com
Issues Addressed :
(1) Whether or not a prior ruling...
One of the more vexing litigation problems to emerge
recently has been the proliferation of multi-jurisdiction litigation, where
corporate defendants are forced to litigate essentially the same claim in
multiple courts at the same time. This problem...
NEW YORK - (Mealey's) A federal judge in New York on Apr.
5 granted final approval of a $2.4 billion settlement between shareholders and
Bank of America Corp. (BoA) to settle claims that it and certain of its
executive officers and directors misrepresented...
On March 27, 2013, the U.S. Supreme Court continued its
recent trend of imposing more stringent standards for class certification in Comcast
Corporation v. Behrend , 569 U.S. ___ (2013) [lexis.com
by Vance E.
The transition of a family owned or closely-held business
is an important event for families. In a prior article, we covered the issues
that a business owner faces in general in preparing a succession plan....
On March 29, 2013, in a ruling that she acknowledged some
might find to be "unexpected" in light of the substantial regulatory fines and
penalties that some of the defendants have paid, Southern District of New York Naomi Reice Buchwald
Mutual fund directors have been attacked before. For
example, in his 2002
letter to shareholders of Berkshire Hathaway, Berkshire chairman Warren
Buffett took a detour in an essay about corporate governance to express
concerns about mutual fund directors...
by Ed Batts
Negotiation fatigue is an age-old problem in completing
any contract - and often, whether fair or not, the further back in the document
the clause is positioned, the greater the fatigue.
A choice-of-law provision, which decides which...
WASHINGTON, D.C. - (Mealey's) The U.S. Supreme Court
today ruled 5-4 that a district court may not certify a class action under
Federal Rule of Civil Procedure 23(b)(3) without resolving whether the class
has introduced admissible evidence, including...
by Jeffrey M. Shapiro and Eileen Overbaugh
On March 18, 2013, the Revised
Uniform Limited Liability Company Act (the "Revised Act") becomes
effective and replaces New Jersey's existing Limited Liability Company Act (the...
I frequently explain to my startup clients that forming
their business in Delaware (or another state they choose if it is not their
home state) may not be enough: they also need to register it in every state
where they intend to do business. This means...
Your favorite newspapers, magazines and blogs are so
hungry for content to fill their pages that sometimes, rather than paying their
own writers to produce text, video, and other journalism those publications
take money from strangers to print their...
NEW YORK- (Mealey's) A federal judge in New York on March
14 entered judgment for $153.3 million after trebling a jury's $54.1 million
verdict in favor of a direct purchaser class on its allegations that Chinese
corporations participated in...