Bill on Bankruptcy: What's in the $83M ResCap Examiner's Report?
Imagine for a moment that you’re a shareholder in a closely held corporation. In most jurisdictions, that status as a shareholder obligates you to a heightened fiduciary duty to your fellow shareholders. Now imagine that your...more
New Jersey courts recognize that every contract contains an implied covenant of good faith and fair dealing, which requires that neither party to the contract shall do anything which will have the effect of destroying or...more
Plaintiffs often allege an insurer breached the duty of good faith and fair dealing by conducting an unreasonable and/or an inadequate investigation. But, Arizona courts have held for over 30 years that an insurer’s...more
In Porcupine Opportunities Program Inc. v Cooper, 2020 SKCA 33 (Porcupine), the Saskatchewan Court of Appeal affirmed, among other things, that a trial court appropriately decided to award $20,000 in moral damages to an...more
A Massachusetts state court ruled that real estate franchisor, Re/Max of New England (Franchisor), breached its franchise agreements, the implied covenant of good faith and fair dealing and violated Massachusetts’ consumer...more
I recently had occasion to read through the Illinois Surplus Line Law in detail when I noticed something interesting: surplus lines insurance companies may not be subject to the cap on bad faith damages usually applied to...more
The Court of Appeal for Ontario recently rendered a decision in Ruston v. Keddco MFG. (2011) Ltd., 2019 ONCA 125, which serves as a cautionary tale for employers whose termination conduct reveals that they do not take their...more
This month’s key California employment law cases involve wage and hour issues. Donohue v. AMN Servs., 29 Cal. App. 5th 1068, 241 Cal. Rptr. 3d 111 (2018) - Summary: Policy rounding employees’ time worked is legal if...more
On July 6, 2018, the Delaware Court of Chancery imposed $20.3 million in damages on Georgetown Basho Investors, LLC (Georgetown), an investment fund, its President and Managing Member, Chester Davenport, and Board member...more
Late last year, a federal trial court in New York awarded a solar development company $11.6 million in damages against Suffolk County arising out of a dispute on a multi-site carport solar construction project. The basis for...more
Notwithstanding the ascendency of the limited liability company, the Delaware limited partnership continues to serve as an important, tax-advantaged vehicle for certain capital-intensive ventures — especially in the energy...more
Federal Court of Appeal opines on the framework for analyzing obviousness-type double-patenting - On November 4, 2016, the Federal Court of Appeal dismissed Apotex’s appeal in Apotex Inc v Eli Lilly Canada Inc, 2016 FCA...more
The D.C. Court of Appeals (the Court) recently issued a decision covering some important public construction contract principles, most notably notice, cost and pricing data requirements, and the implied duty of good faith and...more
Insurance practice in Texas has become somewhat rote. Typically, a petition is filed against both an insurance company (that is often not based or incorporated in Texas) and a local adjuster. In addition to a breach of...more
2015 and 2016 saw a wave of transactions among cable, satellite, and other linear programming distributors: AT&T & DirecTV, Altice and Suddenlink, etc. That transactional wave is beginning to spawn a litigation wave,...more
In one of the largest ever M&A-related recoveries for shareholders, Vice Chancellor J. Travis Laster ordered Dole Food Company, Inc.’s Chairman and CEO, David Murdock, and Dole’s former President, COO and General Counsel, C....more
Aside from the very large damage award, this decision should be noted for its thorough analysis of the duties of a controlling stockholder and his aides in the way they act to carry out a going private transaction....more
Late last month, the Ninth Circuit Court of Appeals issued its much-anticipated decision in Microsoft v. Motorola, a breach of contract action brought by Microsoft alleging that Motorola violated its commitment to license its...more
Appellate Court Advance Release Opinions - AC36506 - Sidorova v. East Lyme Board of Education - Due to budget cuts, the Board of Education laid off the plaintiff who was a tenured French teacher. She sued for...more
In Kelly v. State Farm Fire & Casualty Co., the Supreme Court of Louisiana recently held that an insurer can be liable for bad faith failure to settle a claim even if it has not received a firm offer to settle the claim. The...more
A recent Seventh Circuit opinion written by Judge Posner addresses both the covenant of good faith and fair dealing and some issues of damages proof in a particularly appropriate Wisconsin context: dairy-equipment...more
In almost all corporate transactions, the first piece of written documentation the parties exchange and execute (after a non-disclosure agreement) is a letter of intent or term sheet (“LOI”), which is intended to summarize...more
As many of you know, we serve as litigation counsel for PharmAthene, which recently received a favorable Delaware Supreme Court decision in SIGA Technologies, Inc. v. PharmAthene, Inc., 2013 WL 2303303 (Del. Supr., May 24,...more
In a recent case before the Delaware Supreme Court, SigaTechnologies v. PharmAthene, the court upheld a Delaware Chancery Court’s ruling that an express agreement between parties to negotiate in good faith, even if the...more