With the rise in inflation and downturn in economies, spin-offs have become an increasingly popular method of unlocking shareholder value in a down market. Often, the ability to obtain tax-free treatment in the U.S. for the...more
Two Recent Decisions Throw Cold Water on Investors’ Ability to Get Their Premiums Back on Policies Deemed Void Ab Initio -
In the latter half of 2022, the Seventh Circuit Court of Appeals and the Delaware Supreme Court—two...more
Vice Chancellor Laster Extends This Fiduciary Duty, Previously Recognized only as to Corporate Directors -
On January 25, 2023, the Delaware Court of Chancery answered an important question of officer liability, holding...more
1/31/2023
/ Class Action ,
Compliance ,
Corporate Misconduct ,
Corporate Officers ,
DE Supreme Court ,
Delaware ,
Derivatives ,
Duty of Loyalty ,
Duty of Oversight ,
Fiduciary Duty ,
Harassment ,
Motion to Dismiss ,
Shareholders
Numerous multinationals allow their employees globally to elect whether to take their equity award grants as stock options and/or restricted stock units (RSUs). These “choice programs” provide employees with autonomy in their...more
In Cost of Insurance Litigation, Courts Continue to Disagree Over the Meaning of the Key Contractual Provision -
If you see a movie that is “based on a true story,” how close to the story are you expecting the movie to be?...more
On Monday, November 22, 2021, the United States Court of Appeals for the Second Circuit affirmed a district court ruling that “umbrella” plaintiffs—i.e., antitrust class action claimants who purchase from a non-conspirator a...more
On November 30, 2020, parties to legacy LIBOR contracts breathed a collective sigh of relief as LIBOR’s administrator Intercontinental Exchange, Inc. (“ICE”) announced that US Dollar LIBOR would continue to be published until...more
2/18/2021
/ Adjustable-Rate Mortgage ,
Alternative Reference Rates Committee (ARRC) ,
Class Action ,
Enforcement Actions ,
EU ,
HELOC ,
Interest Rates ,
ISDA ,
Libor ,
Secured Overnight Funding Rate (SOFR) ,
Securities and Exchange Commission (SEC) ,
Shareholders ,
UK
This alert covers the current law on stranger-originated life insurance (“STOLI”) policies in 14 different states and includes updates concerning the following developments:
• A 2020 decision applying New York law which...more
On August 27, 2020, Judge George B. Daniels of the U.S. District Court for the Southern District of New York granted a Rule 12(c) motion for judgment on the pleadings made by financial institutions facing benchmark-rigging...more
On July 23, 2020, Judge Paul A. Englemayer of the U.S. District Court for the Southern District of New York denied a motion to certify a proposed class of direct purchasers of aluminum in a decision that may signal a trend...more
8/7/2020
/ Aluminum Sales ,
Anticompetitive Behavior ,
Antitrust Violations ,
Burden of Proof ,
Civil Conspiracy ,
Class Action ,
Class Certification ,
Direct Purchasers ,
Expert Testimony ,
FRCP 23 ,
Market Manipulation ,
Multidistrict Litigation ,
Predominance Requirement ,
Price-Fixing ,
Putative Class Actions ,
Statistical Sampling