U.S. Supreme Court Addresses Fiduciary Duty of Investment Advisors
In Jones v. Harris Associates, L.P., read opinion here, the U.S. Supreme Court today decided an issue involving the fiduciary duty of investment advisors. Many legal scholars have already started to comment on this decision, e.g. here, here, here and here, adding to the … Continue reading
Chancery Refuses to Set Aside Valuation Performed Pursuant to Formula in Stockholders’ Agreement
Julian v. Julian, C.A. No. 1892-VCP (Del. Ch. March 22, 2010), read opinion here. This is the latest in a series of decisions by the Court of Chancery in this case that involves litigation over the break-up of several affiliated family businesses. Prior Chancery opinions … Continue reading
Chancery Defers Decision on Petition for Interim Fees Due to Judicial Economy
In Kurz, et al. v. Holbrook, et al., C.A. No. 5019-VCL (Del. Ch. Mar. 2, 2010), read decision here, plaintiffs filed an application for an interim award of fees and expenses, while the Court’s post-trial opinion issued on February 9, 2010 entering … Continue reading
Court Dismisses Counterclaims for Breach of Fiduciary Duty, Breach of Contract, and Breach of Implied Covenant of Good Faith and Fair Dealing
In a “bout between sophisticated, experienced parties who have woven a complex web of overlapping contracts, agreements, and duties,” the Court of Chancery was left to “untangle and interpret [the agreements] in order to make sense of who among these … Continue reading
Chancery Denies Injunctive Relief for Issuance of Convertible Note as Security in Violation of Agreement Due to Risk of Bankruptcy
Fletcher Int’l, Ltd. v. ION Geophysical Corp., C.A. No. 5109-VCP (Del. Ch. March 24, 2010), read letter decision here. This 15-page letter decision from the Court of Chancery addresses the issue of whether a convertible promissory note violated the terms of a … Continue reading
SCOTUS Addresses Motion to Dismiss Standard
Ashcroft v. Iqbal is a 2009 decision of the United States Supreme Court (SCOTUS) that may have an impact on the standard applied to motions to dismiss in state courts with rules that are modeled on the federal rules. The Delaware Court of Chancery Rules and other Rules of … Continue reading
Chancery Rules on Dissolution of LLC
The Homer C. Gutchess 1998 Irrevocable Trust v. Gutchess Companies, LLC, C.A. No. 4916-VCN (Del. Ch. Feb 16 and 22, 2010), read letter decision here and original transcript of ruling here. Maura Burke, an associate in our Delaware office, prepared this case summary. … Continue reading
After In Camera Review the Court of Chancery Rejects Claim of Work Product Immunity and Orders Email Produced
W.L. Gore & Associates, Inc. v. Darrell Long, et al., C. A. No. 4387-VCP (Del Ch. Mar. 3, 2010), read decision here. Kevin Brady, a litigator at Connolly Bove, prepared this synopsis. After an in camera review of a redacted email, the … Continue reading
Suits Against Big 4 Accounting Firms
Commentary about lawsuits against the Big 4 accounting firms is compiled here by Francine McKenna on her blog called: In Re The Auditors. For those who follow claims against accounting firms, it is a useful resource.
Delaware Courts Rank First in Nation, Says 50 State Survey
Delaware Courts have been ranked first in the nation again, for the eighth year in a row, by a survey done by the Institute for Legal Reform, an arm of the U.S. Chamber of Commerce. The survey of the court systems in all … Continue reading
View My Twitter Profile
View My LinkedIn Profile
View My Facebook Profile
View This Blog's Facebook Network