In Dohmen v. Goodman, the Delaware Supreme Court, in response to a certified question of law from the US Court of Appeals for the Ninth Circuit, provided significant guidance regarding the showing required for a plaintiff to seek compensatory damages for claims arising out of alleged disclosure violations. The Court distinguished between claims for a breach…

The Delaware General Assembly recently enacted amendments to the Delaware Statutory Trust Act (the “DSTA”) which will become effective August 1, 2020.  The amendments make a variety of changes relating to the nature and operation of Delaware statutory trusts (“DSTs”), including amendments (i) clarifying the ability of a DST to enter into contracts between series of…

The U.S. Department of Labor (DOL) recently issued an update to its Unemployment Insurance Program Letter (UIPL) 16-20 including a Q&A responding to questions submitted by states. The update provides additional guidance regarding Pandemic Unemployment Assistance (PUA), a program under the Coronavirus Aid, Relief and Economic Security Act (the CARES Act). The CARES Act expands weekly…

On July 16, 2020, the Governor of the State of Delaware signed House Bill 341, an act to amend the General Corporation Law of the State of Delaware (the “DGCL”). A link to our previously distributed summary of the 2020 amendments to the DGCL can be found here, and a link to the text of House Bill…

Delaware has recently adopted legislation amending the Delaware Limited Liability Company Act (LLC Act), the Delaware Revised Uniform Limited Partnership Act (LP Act) and the Delaware Revised Uniform Partnership Act (GP Act) (collectively, the LLC and Partnership Acts). The following is a brief summary of some of the more significant amendments that affect Delaware limited liability…

In a decision that might significantly affect the State of Delaware’s enforcement of matters related to unfiled Delaware unclaimed property reports, on June 24, 2020, the Delaware Supreme Court reversed a Delaware Superior Court jury verdict in Overstock.com, Inc. v. The State of Delaware ex. rel. French, C.A. No. N13C-06-289 (Del. Super. Ct. June 24, 2020).…

The 2020 amendments to the Delaware General Corporation Law make several important changes, including clarifying the circumstances under which emergency bylaws may be invoked, providing safe harbors for specified corporate actions taken during an emergency condition, reducing the statutory hurdles to become a public benefit corporation, providing further definition around mandatory indemnification for officers and effecting…

The U.S. Equal Employment Opportunity Commission (EEOC) has issued new guidance stating that employers cannot require employees to take COVID-19 antibody tests. According to the EEOC, an antibody test is a medical examination under the Americans with Disabilities Act (ADA) and it “does not meet the ADA’s ‘job related and consistent with business necessity’ standard for…

In Continental Finance Company, LLC v. ICS Corp., C.A. No. N19C-07-184 AML, Judge LeGrow granted in part and denied in part the defendant’s motion for partial dismissal. The dispute stemmed from an agreement between plaintiff Continental Finance Company, LLC and defendant ICS Corporation regarding the marketing and promotion of credit card products. The agreement required ICS…