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Court of Appeals to Decide Controversial Partnership Dissolution Case

In a controversial ruling last year in Congel v Malfitano, the Appellate Division, Second Department, affirmed and modified in part a post-trial judgment against a former 3.08% partner in a general partnership that owns an...more

Brownstein Victory Demonstrates Value of Vigorously Challenging Materiality Allegations in Securities Fraud Trials

The materiality of misrepresentations and omissions in securities fraud litigation is a complex but critical issue. For several reasons, defendants sometimes give this element of a securities claim less at tention than it...more

Do Outsiders Have Standing?

One of the essential elements of a contract is the consent of the parties. Cal. Civ. Code § 1550(2). When a party is not a corporation, there is always a question of whether the person or persons signing the contract have...more

To Be or Not To Be: The SEC Administrative Court — Are They Constitutional or Not

Seyfarth Synopsis: What, if any, steps the government will take to appeal the Tenth Circuit’s Bandimer’s decision remains to be seen. The government may elect to petition the entire Tenth Circuit to hear the case en banc. Or...more

Litigation Update: Plaintiffs Survive Motion to Dismiss in Case Involving Claims of Forced Labor in Corporate Supply Chains

January 11 2017 is National Human Trafficking Awareness Day, and therefore a good time to revisit some recent litigation developments. On November 9, a date on which most of the American media was focused on the Presidential...more

Do You Blur the Lines Between Your Separate Companies? The Courts Might Too.

Is your business divided into separate entities? It isn’t an uncommon practice. Business owners often establish separate legal entities to manage different aspects of their business. One reason for doing so is to prevent the...more

High Court Rules That Witness Interview Notes Are Not Covered by Legal Advice Privilege

In December 2016, the English High Court ruled that transcripts, notes and other records of witness interviews prepared by in-house and external counsel in the course of an internal investigation were not covered by either...more

Blog: Data Points from Recent Appraisal Decisions

As concerns over the potential exercise of appraisal rights are increasingly being factored into deal price, data points from recent Delaware appraisal decisions may help inform a party of its appraisal risks and, if an...more

Solak v. Sarowitz et al., C.A. No. 12299-CB (Del. Ch. Dec. 27, 2016) (Bouchard, C.)

In this opinion, the Court of Chancery held that Section 109(b) of the Delaware General Corporation Law (the “DGCL”) prohibits a bylaw shifting to a stockholder plaintiff the attorneys’ fees and other expenses incurred by the...more

"Delaware Supreme Court Addresses Limited Partnership Drop-Down Transactions and Conflicts Committees"

The Delaware Supreme Court recently ruled on two appeals from Court of Chancery decisions involving "conflicts committees" of Delaware limited partnerships. Both decisions arise out of challenges to "drop-down" transactions...more

Court Of Chancery Explains Limits On Stockholder Challenges To Short-Form Mergers

It is well understood that minority stockholders have limited rights to object to a short-form merger under Delaware law. This decision affirms that minority stockholders cannot challenge the merger on fairness grounds...more

Delaware Chancery Court Confirms the Invalidity of Fee-Shifting Bylaws for Stock Corporations

In Solak v. Sarowitz, C.A. No. 12299-CB (Del. Ch. Dec. 27, 2016), the Delaware Court of Chancery held that plaintiff stated a claim that a stock corporation’s fee-shifting bylaw was facially invalid under Section 109(b) of...more

Foreign Companies (India) Establishing U.S. Subsidiaries – Some Jurisdictional Considerations (New Jersey)

Last week, a first level appellate court in New Jersey issued an opinion for publication discussing the potential grounds for finding jurisdiction over a foreign parent corporation when its wholly-owned subsidiary has its...more

Despite Privilege, GC May Pursue Whistleblower Retaliation Suit under SOX and Dodd–Frank

California’s USDC–ND ruled that Bio-Rad Laboratories’ former General Counsel may use privileged communications to prove his retaliatory-discharge case prosecuted under Sarbanes–Oxley and Dodd–Frank’s whistleblower...more

Court Of Chancery Strikes Down New Fee-Shifting Bylaw

After the enactment of Section 109(b) of the Delaware General Corporation Law, one would have thought that fee-shifting bylaws were invalid. However, this decision deals with another attempt to shift fees, this time when a...more

Lawsuit filed to set aside IRS Notice 2016-66

Two months ago, without any prior warning or public notice, the IRS issued Notice 2016-66 which defined a number of common captive insurance transactions as “transactions of interest.” The Notice is limited to captive...more

Delaware Supreme Court Provides Guidance on Director Independence

Seyfarth Synopsis: The Delaware Supreme Court recently reversed the dismissal of a derivative complaint for failure to plead demand excusal because it found that certain directors of Zynga Inc. were not independent due to...more

Joint accounts - The new shield? - A case review on One Investment and Consultancy Limited and another v Cham Poh Meng (DBS Bank...

Although the sum involved was small, the High Court’s decision in One Investment and Consultancy Limited and another v Cham Poh Meng (DBS Bank Ltd, garnishee) [2016] SGHC 208 is one which would have a great impact in the area...more

The Texas Supreme Court Will Review A Breach Of Fiduciary Duty Claim Against Directors For Allegedly Usurping A Corporate...

The Texas Supreme Court granted the petition for review in Longview Energy Co. v. The Huff Energy Fund, 482 S.W.3d 184 (Tex. App.—San Antonio 2015, pet granted). In this case, the plaintiff asserted a breach of fiduciary duty...more

In Real Life the Bad Guy Sometimes Gets Away: Adding Judgment Debtors to a Judgment

As most litigators will tell you a plaintiff in a civil lawsuit needs to be able to prove both liability and damages to win a case. That is, you need to show both that the defendant is liable under the law and that you have...more

Recent developments of court practice concerning the documentary support for deductibility of expenses attributable to a permanent...

On 21 December 2016 the Commercial Court of Moscow delivered the Decision in case No. ?40-121559/16-20-1035. In this case the court considered a dispute between ZAB Zementanlagenbau GmbH Dessau (Germany), which carries...more

Jury Verdict in Declined Civil FCA Action Need Not Bar Criminal Prosecution for Same Conduct

The qui tam provisions of the False Claims Act allow private citizens to file FCA claims on behalf of the government. The government may elect to intervene in the action—or it may not. The United States District Court for...more

Top 10 Business Divorce Cases of 2016

I’m pleased to present my 9th annual list of this past year’s ten most significant business divorce cases. The list includes important appellate rulings by the First and Second Departments on dissolution of foreign business...more

The Year in Review

As 2016 comes to a close, we again thank you, our readers, for your continued interest, support, and ideas. Decisions from the past year have confirmed the powerful role that N.C. Gen. Stat. § 75-1.1 plays in North Carolina...more

Family Law: Corporate and Trust Challenges to Service of Process and Jurisdiction

The president of a corporation, manager of a limited liability company, trustee of a family trust, or principal of another business entity receives a summons in a Florida divorce case. One spouse contends the other’s control,...more

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