Justices to Decide Judicial Affiliation Case Out of Delaware
The Supreme Court agreed Friday to decide the constitutionality of Delaware’s system of making political party affiliation requirements when it hires new judges.
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Delaware
Chancery Court Tosses Stockholder Complaint Against Ultragenyx Pharma
The Delaware Chancery Court shot down an investor lawsuit alleging excessive compensation to non-employee directors of Ultragenyx Pharmaceutical, finding that a pre-suit demand letter rejected by the board sunk the stockholder’s legal options.
Read moreStock Ledger ‘Mess’ Sinks Shareholder’s Bid to Control Hawk Systems
The Delaware Chancery Court shot down an investor’s attempt to take control of biometric security firm Hawk Systems Inc. amid “chaos” and allegations that the company’s former managers engaged in “rampant fraud.”
Read moreDelaware Developers Said to Threaten Unique Firefly
Striking for their double-green flash, the lightning bugs that call the Delaware Coast home are a little different from those seen in most other parts of the country.
Read moreVice Chancellor Dismisses Shareholder Claim against CEO for Alleged Compensation Conflict in $18B Merger
(CN) – The Delaware Chancery Court dismissed a class action in its entirety after shareholders failed to state a claim for breach of fiduciary duty in challenging an $18 billion merger between Tower Watson & Co. and Willis Group Holdings PLC because of a potential conflict in the compensation of Tower’s CEO.
Read moreShareholder Suit Over Goldman Sachs Executive Compensation Survives Dismissal in Delaware
The Delaware Chancery Court threw out a motion brought by Goldman Sachs that sought to dismiss a shareholder lawsuit accusing the firm of grossly overpaying its directors.
Read moreFacebook Told to Cough Up Books in Cambridge Analytica Spat
Investors who blame Facebook’s Cambridge Analytica scandal on lax oversight from the top persuaded a judge Thursday to let them inspect the books.
Read moreSex Misconduct Suits Near Settlement, Weinstein Lawyer Says
Attorneys for the Hollywood production company co-founded by Harvey Weinstein told a bankruptcy judge Thursday that they are close to reaching settlements with women who’ve accused the disgraced film producer of career-long sexual misconduct.
Read moreIllegal Pete’s
Illegal Pete’s Inc., a restaurant chain that says it’s operated under that name in Colorado and Arizona for 23 years, brought a federal complaint against the Delaware State Division of Corporations for refusing to accept its registration as a Delaware LLC and saying the name’s “negative connotation” might hurt the state.
Read moreForum Selection Bylaw Sinks Motion to Dismiss in Delaware Pilgrim’s Pride Suit
(CN) – The Delaware Chancery Court denied a meat producing parent company’s motion to dismiss an action brought by a
Read moreThird Circuit Nixes Political Affiliation Rule for Judges
Striking down a century-old Delaware law, the Third Circuit called it unconstitutional Tuesday to require that judicial candidates align themselves with certain political parties.
Read moreCourt Primes Ruling Against Political-Affiliation Mandate
A Third Circuit judge questioned the constitutionality Tuesday of a Delaware law that requires judges to align themselves with a major political party.
Read moreCarper-Harris Matchup Highlights Delaware Primary Elections
A battle between Delaware’s senior senator and an upstart challenger riding an antiestablishment wave within the Democratic Party highlights the state’s primary elections Thursday.
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SuperValu Shareholders Sue to Block $2.9B Buyout
(CN) – SuperValu Inc. shareholders filed a class action challenging United Natural Foods’ plan to buy the grocery chain for
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Twitter Granted Stay of Delaware Derivative Action While Class Action Looms in California
(CN) – A federal judge in Delaware granted Twitter a motion to stay a consolidated shareholder derivative action, which accuses the company’s directors of concealing information about sluggish growth.
Read moreMan Who Befriended Undercover Cop on Facebook Loses Appeal
Delaware’s Supreme Court has rejected an appeal from a felon convicted on gun charges after accepting a Facebook “friend” request from an undercover police officer.
Read moreCBS Renews NAI Fight, Seeks Court Approval of Dilution Vote
CBS Corp. asked a Delaware judge on Wednesday to bless a move by its board to dilute the stock voting power of its controlling shareholder, the latest step in an ongoing legal battle for control of the mass media company.
Read moreTesla, Elon Musk Cannot Dismiss Shareholder Claims Over SolarCity Acquisition
The Delaware Chancery Court refused to dismiss shareholder claims stemming from Tesla’s controversial acquisition of SolarCity, finding it conceivable that CEO Elon Musk, a controlling stockholder of both companies, unduly influenced the board’s decision.
Read moreKentucky Retirement System Accused of Illegal Money Grab
A small San Francisco investment firm claims Kentucky is trying to unlawfully wrest control of funds the firm manages in the state’s troubled public pension system.
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