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Delaware Supreme Court Holds Tooley Direct vs. Derivative Rule Is No Bar to Parent Corporation’s Contract Claim

As previously reported, in NAF Holdings, LLC v. Li & Fung (Trading) Limited, 772 F.3d 740 (2d Cir. 2014), the Second Circuit certified to the Delaware Supreme Court an unusual question regarding whether the direct vs....more

Insurance Recovery Law - July 2015

In the Context of a Bad Faith Claim, Insurer’s Defense That Coverage Denial Was Reasonable Put at Issue Otherwise Protected Attorney-Client and Work Product Communications - Why it matters: Recognizing the “conflicting...more

July Antitrust Bulletin

On June 29, 2015, Sysco Corp. announced that it was pulling the plug on its $3.5 billion proposed merger with US Foods Inc. The news comes less than a week after a Washington, D.C., federal judge concluded that the Federal...more

FCA Publishes Decision Notices In Respect Of Three Former Members Of Keydata’s Senior Management

In this decision report, we consider the FCA’s decision notices issued to the former chief executive, sales director and compliance officer of Keydata Investment Services Ltd in connection with the sale of structured...more

Eleventh Circuit Holds No Duty to Defend Directors Serving in Mixed Capacities

On June 22, 2015, the 11th Circuit affirmed a Georgia federal court decision that there was no coverage under a director’s and officer’s (D&O) insurance policy for claims asserted by beneficiaries of a family trust against a...more

Recent DOJ and OIG Actions Show Growing Federal Scrutiny of Physician Financial Arrangements

Over the last month the Office of Inspector General (OIG) of the Department of Health and Human Services and the Department of Justice (DOJ) have each taken actions that suggest an increasing appetite to examine the financial...more

Eleventh Circuit Denies Coverage for Wrongful Acts of Directors and Officers That Arose Out of Their Wrongful Acts as Trustees, an...

On Monday, June 22, 2015, the Eleventh Circuit, in The Langdale Company v. National Union Fire Insurance Company of Pittsburgh, PA, No. 14-12723 (11th Cir. 2015), ruled for the insurer on a “capacity” exclusion in a director...more

Superior Court Extends Jurisdiction Under The Director Long Arm Statute

It is conventional wisdom that the director long arm statute only confers jurisdiction for breaches of fiduciary duty. Yet as this decision points out, that limitation is not firmly grounded in the words of the statute....more

Eleventh Circuit Affirms Summary Judgment for Insurer Based on "Other Capacity" Exclusion

On June 22, the Eleventh Circuit affirmed the grant of summary judgment in favor of National Union Insurance Company of Pittsburgh, Pa., in an action where the insured sought $10 million in coverage under a D&O policy. The...more

King Drug Co. of Florence, Inc. v. SmithKline Beecham Corp. (3rd Cir. 2015)

Ever since the Supreme Court's decision in FTC v. Actavis in 2013, courts (predominantly district courts) have grappled with the scope of the decision. It was evident that the presence of a large cash payment from the...more

Ontario Expands Scope of Prohibited Insider Trading

The Ontario government has amended Ontario’s Securities Act (Act) to expand the scope of prohibited insider trading and enhance the record-keeping requirements imposed upon capital market participants in the province. This...more

One Step Closer: European Parliament Legal Affairs Committee Approves Trade Secret Directive

As Trade Secrets Watch has previously reported, new rules regarding the protection of trade secrets are on the horizon for the European Union. In November 2013, the European Commission announced a proposed Directive on trade...more

Delaware Bars Fee-Shifting Bylaws Provisions but Allows Delaware Forum Selection Clauses in Intracorporate Litigation

On June 24, 2015, Delaware Governor Jack Markell signed into law Senate Bill No. 75, “An Act to Amend Title 8 of the Delaware Code Relating to the General Corporation Law.” The law prohibits a Delaware stock corporation from...more

[Webinar] Antitrust and Competition - June 30, 1:00 CDT

Join us as Robins Kaplan attorneys Meegan Hollywood and William Reiss provide an introduction to the fundamentals of federal antitrust and competition law. The program will focus on the basic statutory framework of antitrust...more

Uncertain Future for Non-Compete Agreements in Massachusetts: Legislators Seek Compromise

Hearing Overview: On June 23rd, the Massachusetts Joint Committee on Labor and Workforce Development met to consider legislation relating to the legality and enforcement of non-compete agreements. The committee...more

Second Circuit Refuses to Stay Injunction During American Express Appeal

On Tuesday, the U.S. Court of Appeals for the Second Circuit rejected American Express Co.’s request to stay an injunction ordered by a judge in the Eastern District of New York which prevented Amex from imposing certain...more

Counts v. Meriwether - USDC, C.D. California, June 12, 2015

District court dismisses breach of contract and conversion claims in lawsuit brought by two screenwriters who alleged defendants used script to create television series "New Girl," holding breach of contract claim was...more

To Be or Not to Be – an Insured Contract: Coverage for Breach of Warranty Claims

In Bituminous Casualty Corporation v. Plano Molding Company, 2015 IL App (2d) 140292, the Illinois Appellate Court tackled one of the most misunderstood issues in the commercial general liability policy: does an obligation to...more

A Sign of Things to Come: Securities and Futures Trends Analysis: Greater Corporate and Individual Accountability for Regulatory...

2008 marked the height of the global financial crisis. The intervening years have seen criticism of financial regulators, a variety of enforcement activities and a raft of regulatory reforms. Hong Kong and its Securities and...more

Court Arrives at Fair Market Value of Gas Property

In Texas, lost profits can’t be recovered as damages unless proven to a “reasonable certainty”. Question 1: What does that mean? Question 2: Does it matter if the deal is in Bulgaria? Let’s get rid of the...more

Connecticut Court Possesses Personal Jurisdiction Over “Demonologist” Publisher

In the District of Connecticut, an out of state publisher with no alleged direct contacts with Connecticut recently lost its bid to have a case against it dismissed for lack of personal jurisdiction. Gerald Brittle sued...more

Florida Supreme Court Holds Insurer Immune from Bad Faith Claims

On May 14, 2015, the Florida Supreme Court held that a government-created insurance company, Citizens Property Insurance Corporation, was immune from statutory first-party bad faith claims. The Florida Legislature created...more

[Webinar] How and Why California is Different When it Comes to Trade Secrets and Non-Competes - June 23, 1:00 EDT

Seyfarth attorneys will present the fifth installment in our 2015 Trade Secrets Webinar Series. They will focus on recent legal developments in California trade secret and non-compete law and how it is similar to and diverse...more

When $16.5 Million Is Not Enough: Insurer And Reinsurer Battle Over Fronting Arrangement

Lincoln General Insurance Company (“Lincoln”) appealed a district court judgment, despite it having won a $16.5 million dollar tortious interference verdict, to the Fifth Circuit Court of Appeals. Lincoln alleged that the...more

Competing After Employment (Part 2)

A few weeks ago, Jawbone, a fitness tracking hardware and software maker, sued its arch-rival Fitbit, alleging that Fitbit lured its employees away to obtain access Jawbone’s confidential information and product plans. How...more

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