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Corporate Communicator - Fall 2017

by Snell & Wilmer on

Recent changes to Nevada corporate law reaffirm Nevada’s commitment to providing directors and officers with maximum deference in the exercise of their fiduciary duties on behalf of Nevada corporations. Specifically, Nevada...more

Drafting Maryland Liability Releases

by Pessin Katz Law, P.A. on

The drafting of liability releases has always been complicated and recent legal developments in Maryland have made such drafting even more complicated. Some non-exhaustive things to think about when drafting liability...more

Houston Bankruptcy Court Splits With Third Circuit on “Statutory Impairment”

by Latham & Watkins LLP on

Ultra court clarifies the requirements for classifying a creditor as “unimpaired” under a plan of reorganization. Key Points: - Texas bankruptcy court splits from Third Circuit in finding that a creditor must receive...more

6 Key Considerations in China-related Arbitrations

by Latham & Watkins LLP on

Differences in enforcement and arbitral rules could cause difficulties for unwary parties engaged in or considering arbitration in mainland China. China’s economic growth has attracted significant foreign investment in...more

Delaware’s Restrictive Trulia Standard Gains Traction in California

Silicon Valley court signals increased scrutiny of disclosure-only settlements of merger objection litigation. Delaware Courts have become reluctant to approve settlements of merger objection lawsuits based on...more

Third Circuit Affirms Dismissal of Plaintiffs’ Challenge to Risk Factors and Earnings Projections, in Williams v. Globus Medical,...

A recent Third Circuit opinion demonstrates the high bar that plaintiffs face when attempting to plead the falsity of two categories of statements: (1) risk factors alleged to be misleading because the warned-of risk had...more

Further ESOP Transaction Guidance Set Forth in Latest DOL Settlement Agreement

by Holland & Knight LLP on

On the heels of a recent settlement agreement with an institutional employee stock ownership plan (ESOP) trustee, the U.S. Department of Labor (DOL) and individual trustee James F. Joyner III (Joyner) entered into a...more

Amazon and Apple Issued Rulings from the European Commission

by King & Spalding on

The EC concludes that Luxembourg provided illegal tax benefits to Amazon of €250 million and refers Ireland to the European Court for failure to recover illegal tax benefits from Apple of €13 billion - On 4 October 2017,...more

Global Private Equity Newsletter - Fall 2017 Edition: Recent Developments in Acquisition Finance

by Dechert LLP on

A delicate balance has evolved over time in leveraged acquisitions with respect to the nature of the contractual relationship between a target and its owners, on the one hand, and the debt financing sources of the buyer, on...more

SC Supreme Court Says Insurers Can’t Cloud Allocation of Covered and Non-Covered Damages

The South Carolina Supreme Court’s decision in Harleysville Insurance Co. v. Heritage Communities, Inc., modified July 27, 2017, continues a trend of decisions aimed at preventing an insurer from acting in its own interest to...more

EU Retail News - September 2017

by Bryan Cave on

UK Competition Authority Warns Creative Sector About Price Fixing and Information Sharing - On 12th September 2017 the UK Competition Authority,the Competition and Markets Authority ("CMA") sent an open letter to...more

Global Private Equity Newsletter - Fall 2017 Edition: The Dangers of Undefined Fraud Carve-Outs and “Inelegant Drafting”

by Dechert LLP on

Crucial to any private equity seller is certainty: the certainty that a sale will be consummated at an agreed price and that any potential post-closing liability is fully understood in advance of distributing proceeds to...more

DOL Settlement Agreement Provides ESOP Transaction Guidance

by Holland & Knight LLP on

• The U.S. Department of Labor (DOL) and First Bankers Trust Services Inc. (FBTS) have entered into a settlement agreement filed in U.S. District Court for the Southern District of New York, resolving a case challenging FBTS'...more

Answer the Phone, Win a Trip to New York?

by Farrell Fritz, P.C. on

If you live in the Western Hemisphere, then you already know that New York courts may exercise personal jurisdiction over a nondomiciliary who transacts business in New York if the plaintiff’s claim arises from the...more

"Common Sense Prevails": Northern Ireland Housing Executive v. Healthy Buildings (Ireland) Limited [2017] NIQB 43

by Dentons on

Where a compensation event has occurred and additional costs have been incurred, can a contractor claiming compensation rely on forecast costs to assess the effect of the compensation event? Common sense dictates no....more

7 Business Cases to Follow in the Supreme Court's Fall Term

by Bennett Jones LLP on

The Supreme Court of Canada’s fall term begins on October 2. Scheduled hearings that may interest the business community are described below...more

The Economic Loss Rule And Misrepresentation-Based Section 75-1.1 Claims

by Ellis & Winters LLP on

We’re not alone in our interest in how the economic-loss doctrine applies to alleged violations of N.C. Gen. Stat. § 75-1.1. In a recent case in the North Carolina Business Court involving section 75-1.1 claims, Judge...more

Funding Arrangements in Private Litigation Are Private Matters—Not to Be Scrutinized by the Federal Court or the Defendant

by Bennett Jones LLP on

Equip: IP Litigation Case of the Week - The cost of litigation can be a non-starter for an intellectual property owner with a strong infringement case. Litigation funding enterprises can help where the cost of litigation...more

Court Rejects Cap on FCA Damages for Allegations of Subcontracting Plan Fraud

by Bass, Berry & Sims PLC on

Last month, the U.S. District Court for the Eastern District of Washington denied a motion to limit damages against a government contractor, United States ex rel. Savage v. Washington Closure Hanford LLC, where the government...more

Federal Circuit Upholds $112 Million Win for Knobbe Martens Client CardiAQ

by Knobbe Martens on

On September 1, the U.S. Court of Appeals for the Federal Circuit affirmed a $112 million win for Knobbe Martens client CardiAQ in its trade secret misappropriation case against former service provider Neovasc. A three-judge...more

Beware of Prior Act Exclusions and Retroactive Dates When Procuring or Renewing Coverage

An 11th Circuit decision issued earlier this year serves as a reminder of the importance of carefully evaluating time-based exclusions and retroactive dates when procuring or renewing coverage. Liability policies such as...more

Update on The CFPB’s Enforcement Case against Ocwen Financial Corporation

by Nexsen Pruet, PLLC on

Ocwen Financial Corporation (Ocwen) is one of the country’s largest nonbank mortgage loan servicers, and it has had its hands full the last six months. On April 20, the Consumer Financial Protection Bureau (CFPB) filed an...more

Nevada Supreme Court Adopts Delaware’s Tooley Test to Determine Whether Shareholder Claims are Direct or Derivative

In Parametric Sound Corp. v. The Eighth Judicial District Court of the State of Nevada, ___ P.3d ___, 2017 WL 4078845 (Nev. Sept. 14, 2017), the Nevada Supreme Court addressed the circumstances under which breach of fiduciary...more

S.D.N.Y. Grants in Part and Denies in Part Trustee Bank of New York Mellon’s Motion for Summary Judgment in Suit Brought by...

On September 7, 2017, Judge Valerie Caproni in the United States District Court for the Southern District of New York granted the majority of RMBS trustee Bank of New York Mellon’s (“BNYM“) summary judgment motion and denied...more

Delaware Court Of Chancery Orders Specific Performance, Finding Plaintiff Did Not Breach Its Contractual Obligation To "Reasonably...

by Shearman & Sterling LLP on

On September 11, 2017, Chancellor Andre G. Bouchard of the Delaware Court of Chancery ordered defendant, Comdata, Inc. (“Comdata”), to specifically perform under, and pay damages for its termination of, its merchant agreement...more

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