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District Court Denies Apple's Request to Add Acacia into Patent Infringement Lawsuit as Alter Ego of Plaintiff

In this patent infringement action, Apple filed a motion to add additional Acacia entities as plaintiffs in the action. Apple's primary argue was that the Acacia entities were the alter egos of the plaintiff and that the...more

$3 Million Spoliation Sanction Despite Company’s Litigation Hold

Manufacturers involved in litigation must properly preserve electronically-stored information (“ESI”) or potentially face daunting sanctions. A recent antitrust case, however, demonstrates that lessons—multi-million dollar...more

Obeid v. Hogan, C.A. No. 11900-VCL (Del. Ch. June 10, 2016) (Laster,VC)

In this memorandum opinion, the Court of Chancery held that it was an improper abdication of authority for the board of directors of a Delaware limited liability company that had adopted the governance structure of a...more

BNA Insights: Statute of Limitations for Disgorgement Claims in SEC and CFPB Enforcement Actions

In a landmark May 26, 2016 decision, the U.S. Court of Appeals for the Eleventh Circuit became the first appellate court to rule that Securities and Exchange Commission (‘‘SEC’’) actions for disgorgement are subject to a...more

Fifth Circuit Rejects Misbehavior Challenge To Arbitration Award

Foundation Surgery Affiliate of Southwest Houston, LLC (“Southwest”), the owner of a surgical and imaging facility in Houston, entered into a purchase and sale agreement in 2008 with Rainier Capital Acquisitions, LP, which...more

Recent Developments in Petrobras Class Action Could Interfere with Trial Date

There have been several recent and interesting updates to the In re Petrobras Securities Litigation, 14-cv-9662 (S.D.N.Y.) that we have discussed several times on this blog. First, the Second Circuit has decided to accept...more

Homeowners Associations – Business Judgment Rule

Palm Springs Villa II Homeowners Association, Inc. v. Erna Parth - Court of Appeal, Fourth Appellate District (June 21, 2016) - The “business judgment rule” refers to a judicial policy of deference to the business...more

Federal Judge Dismisses Target Directors from Data Breached Related Derivative Suit After Special Litigation Committee Recommends...

The hurdles for claims against directors for failed oversight in connection with data breaches continue to increase. On July 7, 2016, District of Minnesota Judge Paul Magnuson released derivative claims against top Target...more

California's First District holding closes loophole for evading removal jurisdiction in insurance coverage declaratory relief...

California law has long held that the parent and controlling shareholder of an insured corporation has no standing to sue for breach of contract or bad faith under an insurance policy issued to the corporation. In a published...more

Texas Court of Appeals: Parties Cannot Recover Statutory Attorney's Fees from an LLC for Breach of Contract Claims

A recent decision from the Texas Court of Appeals in Houston closes the door to the recovery of attorney's fees from limited liability companies under Chapter 38 of the Texas Civil Practice and Remedies Code, one of the few...more

Maryland Court of Special Appeals Reaffirms Heightened Standard for Recovering Punitive Damages

On June 1, 2016, the Court of Special Appeals of Maryland issued an opinion in 1st Team Fitness, LLC, et al. v. Francesco Illiano, No. 0136, Sept. Term 2015 (Md. Ct. Spec. App. Jun. 1, 2016) reaffirming Maryland’s heightened...more

Middle East focus: the Dubai International Financial Centre as a conduit jurisdiction

In DNB Bank ASA v. Gulf Eyadah Corporation and Gulf Navigation Holdings PJSC CA 007/2015, the Dubai International Financial Centre (DIFC) Court of Appeal has delivered a landmark judgment which expands the jurisdiction of the...more

Eleventh Circuit Rules Disgorgement Subject to Five-Year Limitations Period, Ruling Against SEC

On May 26, 2016, a three-judge panel of the United States Court of Appeals for the Eleventh Circuit issued SEC v. Graham, a significant decision that, at least in the Eleventh Circuit, limits the ability of the Securities and...more

Delaware Chancery Court Grants Appraisal Petition After Finding Dell MBO Transaction Provided Stockholders Less Than Fair Value

Vice Chancellor Laster of the Delaware Chancery Court recently issued an important opinion in In Re: Appraisal of Dell Inc.C.A. No. 9322-VCL (May 31, 2016), holding that merger consideration offered to Dell, Inc’s common...more

A Recent Illinois Decision Explains How to Deal with Medical Staff Claims

The Illinois Supreme Court released a decision on May 19, 2016 that provides useful guidance in defending and protecting a claim by a medical staff member against a hospital for improperly failing to appoint or reappoint or...more

Texas appeals court: LLCs and partnerships are not "corporations" against which attorneys' fees can be awarded

The Fourteenth Court of Appeals in Alta Mesa Holdings, L.P. v. Ives, No. 14–14–00739–CV, 2016 WL 1534007 (Tex. App.—Houston [14th Dist.] Apr. 14, 2016) has reversed an award of attorneys’ fees granted by a trial court...more

Delaware Supreme Court Clarifies Standards in Corporate Takeovers

On May 6, 2016, the Delaware Supreme Court upheld a merger between Zale Corporation (“Zales”) and Signet Jewelers Limited (“Signet”) when it affirmed a lower court’s dismissal of a shareholder class action that sought to...more

FTC Records Two Wins as Staples-Office Depot Merger Abandoned for a Second Time

On May 10, Staples and Office Depot announced that they would be terminating their $6.3 billion merger in the wake of a federal judge’s decision to issue a preliminary injunction blocking the deal. This represents the second...more

Supreme Court Decides Merrill Lynch, Pierce, Fenner & Smith Inc. v. Manning

On May 16, 2016, the Supreme Court of the United States decided Merrill Lynch, Pierce, Fenner & Smith Inc. v. Manning, No. 14-1132, holding that that the “arising under” test for federal-question jurisdiction under 28 U.S.C....more

How to Win After You Lost: Examing "Trados"

Perhaps the longest-running litigation in recent Delaware Court of Chancery history has been settled, after the plaintiff class lost at trial. The Jan. 20 settlement hearing in In re Trados Shareholder Litigation, Con. C.A....more

Factors and stages: considerations in a scheme of arrangement - A case update of Re Punj Lloyd Pte Ltd and another matter [2015]...

A recent decision by the learned Judicial Commissioner Aedit Abdullah saw the Singapore High Court clarify the factors which ought to be considered in an application to set aside an order made by the court pursuant to section...more

New Federal Law to Require Immediate Change to Agreements Governing Trade Secrets

The new federal trade secret law will likely require immediate action for all businesses that use trade secrets or other confidential information. The Defend Trade Secrets Act of 2016 (DTSA), which is expected to be...more

SEC Files Offering Fraud Action Centered on Warrants From Private Firm

The SEC filed another offering fraud action, a current staple of the agency. This scheme centered on two former executives of a privately held software manufacturer and a marketer who sold investors interests in various...more

SEC Settles Insider Trading Action With Corporate Executive

Insider trading has long been a staple of SEC enforcement. The agency has brought a number of actions against corporate executives who have abused their position by using inside information entrusted to them for personal gain...more

South Dakota: The Next Frontier of Sales Tax Nexus

On April 29, 2016, a declaratory action was filed challenging the constitutionality of South Dakota’s sales and use tax economic nexus legislation, which took effect Sunday, May 1, 2016. In American Catalog Mailers...more

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