Judge Posner on Delaware Corporate Law
In CDX Liquidating Trust v. Venrock Associates, No.10-1953 (7th Cir. March 29, 2011), read opinion here, Judge Richard Posner, a reknowned member of the U.S. Court of Appeals for the 7th Circuit , writes a decision for that Court which analyzes an … Continue reading
Court of Chancery Awards Plaintiffs Full Amount of Attorneys’ Fees Requested in Dispute Involving Top-up Option Used to Facilitate Two-Step Merger
In Olson v. EV3, Inc., et al., C.A. No. 5583-VCL (Del. Ch. Feb. 21, 2011), the Court of Chancery addressed the issue of a post-settlement fee petition for a plaintiff who challenged the use of a top-up option to facilitate a … Continue reading
SCOTUS Rules on Materiality In Securities Case
The U.S. Supreme Court yesterday ruled in a securities case on the issue of materiality. Matrixx Initiatives, Inc. v. Siracusano (No. 09-1156) (Mar. 22, 2011). Read opinion here. It has already been the subject of learned commentary by several law professors … Continue reading
Disclosure Deficiencies Force Court to Enjoin Merger Vote
In an action arising out of the proposed merger between Atheros Communications Inc. and Qualcomm Incorporated, the Court of Chancery preliminarily enjoined Atheros and its board from conducting a stockholder meeting or stockholder vote on the proposed merger which was … Continue reading
Chancery Allows Unsealing of Allred Letter to Former HP CEO Hurd
Espinoza v. Hewlett-Packard Company, C. A. No. 6000-VCP (Del. Ch. Mar. 17, 2011), read 70-page Court of Chancery opinion here. The background of this decision has been referenced in the popular press for many months. It involves the former CEO of Hewlett-Packard, … Continue reading
Billionaire Lerner Fights in Chancery to Retrieve Investment Funds
Paige Capital Management LLC v. Lerner Master Fund LLC. This is a pending trial in the Delaware Court of Chancery and courtroomview.com provides us with a free excerpt of the start of their video/audio coverage of the trial here, and the entire … Continue reading
Happy St. Patrick’s Day
It has been said that "everyone is Irish" on St. Patrick’s Day. Best wishes to all my Irish friends.
Chancery Refuses to “Keep Delaware Case Open” Pending Application for Attorneys’ Fees in Related Texas Class Action
In Re Dynegy Inc. Shareholders Litigation, C. A. No. 5739-VCS (Del. Ch. Mar, 16, 2011), read letter ruling here. This three-page letter decision is short on length but long on potential significance. It should be read as a postscript to the report … Continue reading
Corporate Charter Move to Ohio Now on Hold
Prof. Larry Ribstein, known to readers of these pages as one of the country’s foremost experts on LLCs, also is widely published on the topic of jurisdictional competition. He comments here on the recent apparent reversal of Abercrombie & Fitch’s plan … Continue reading
Efforts to Require Mediation for Lawsuits in Italy Met with Resistance
As reported recently on the Wall Street Journal Law Blog here, efforts to require mediation for lawsuits in Italy have met with resistance from a national union that represents lawyers.
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