When a stockholder obtains director designation rights, the key to avoiding or mitigating potential informational conflicts involving the designated director is to consider these issues and balance allegiances at the outset of the transaction.
In response to perceived market conditions leading to the recent economic downturn in the United States, Congress passed, and the President signed into law, the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.
Almost four years ago, the Delaware Supreme Court held that while creditors of an insolvent Delaware corporation do not have the right to assert direct claims for breach of fiduciary duty against officers and directors, they may obtain derivative standing to enforce the company’s claims.
On March 24, 2011, the EEOC issued final regulations to implement the ADAAA which become effective June 24, 2011.
On January 21, 2011, the Court of Chancery issued Reis v. Hazelett Strip-Casting Corp., a post-trial decision regarding the fairness of a reverse stock split and the resulting injury to the minority stockholders.
Judge Robinson Denies Motion to Stay In Belden Technologies, Inc. & Belden CDT (Canada) Inc. v. Superior Essex Communications LP & Superior Essex Inc., C.A. No. 08-63-SLR (D. Del. Sept. 2, 2010), Judge Robinson denied Defendants’ motion to stay. After this action was commenced, Defendants filed requests for reexamination of many of the patents-in-suit, and the…
Judge Robinson Denies Motion for Summary Judgment of Infringement In Intermec Technologies Corp. v. Palm Inc., C.A. No. 07-272-SLR (D. Del. Sept. 14, 2010), Judge Robinson denied Intermec Technologies’ motion for summary judgment of infringement, but granted summary judgment of validity against most of Palm Inc.’s anticipation defenses. Intermec sued Palm for infringing two groups of…
Magistrate Judge Thynge Allows Plaintiff’s Trial Counsel to Participate in Amending Plaintiff’s Claims on Reexamination In Xerox Corp. v. Google, Inc., C.A. No. 10-136-LPS (D. Del. Sept. 8, 2010), Magistrate Judge Thynge adopted Plaintiff’s proposed language for a permanent protective order and held that Plaintiff’s trial counsel, who had previous exposure to Defendants’ confidential information, could…
Marking the latest chapter in the attempt of Air Products and Chemicals, Inc. to acquire Airgas, Inc., the Court of Chancery ruled for defendant Airgas.
In In re Del Monte Foods Company Shareholders Litigation, the Court of Chancery found on a preliminary record that a proposed $5.3 billion cash merger (including assumption of debt) with a group of private equity buyers was potentially tainted by alleged misconduct by the target banker, with the alleged knowing participation of the buyers.