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
On May 26, 2022, the Supreme Court of the State of Delaware issued its decision in Wells Fargo Bank, N.A. and Berkshire Hathaway Life Insurance Company of Nebraska v. Estate of Phyllis M. Malkin (19-14689, 17-cv-23136, 172,...more
In a win for Wiley Rein’s client, the Delaware Supreme Court has affirmed the trial court’s decision that a securities class action and an opt-out case constitute related Claims, such that the opt-out case is excluded from...more
The Delaware Supreme Court recently decided that an agreement (sometimes referred to as a “drag along”) to waive prospectively statutory appraisal rights is fully enforceable against the common stockholders who made such...more
Delaware Court of Chancery Finds that Director’s Email on Outside Email System Remains Confidential; Delaware Supreme Court Overrules Longstanding Precedent Regarding Derivative Versus Direct Standing; SEC Files Crowdfunding...more
SCOTUS Grants Certiorari to Decide Whether Automatic Discovery Stay Applies to Securities Act Cases in State Court; Delaware Court of Chancery Dismisses Stockholder Suit Against FedEx for Failure to Make Pre-Litigation...more
Massachusetts Superior Court BLS Finds No Duty to Disclose Alleged Preliminary Merger Discussions, Northern District of California Declines to Dismiss Oracle Fraud Class Action Suit, SCOTUS Hears Oral Argument in Goldman...more
New York Federal Court Dismisses Securities Fraud Claims Against Alkermes for Lack of Fraudulent Intent; Fourth Circuit Affirms District Court’s Denial of Leave to File Amended Complaint Against Triangle Capital as Futile;...more
There were several important developments impacting private investment funds in 2020. The SEC continued to prioritize this area of the capital markets, and it issued important rules and guidance impacting private funds and...more
IN THIS ISSUE - Illinois Federal Judge Finds COVID-19, Not TD Ameritrade, Responsible for Losses; Supreme Court to Address Scope and Application of Basic Presumption of Classwide Reliance in Securities Class Actions;...more
In Borealis Power Holdings Inc. v. Hunt Strategic Utility Investment, L.L.C., the Delaware Supreme Court reversed the Court of Chancery and held the ROFR in an investor rights agreement was not applicable to an indirect...more
In the recent Delaware Supreme Court decision of Leaf Invenergy Co. v. Invenergy Renewables, LLC, No. 308, 2018 (Del. May 3, 2019), the High Court found that a nominal damages award of $1 by the Court of Chancery in a suit...more
On December 13, 2017, the Delaware Supreme Court issued a decision in In re Investors Bancorp, Inc. Stockholder Litigation, holding that director compensation awards made pursuant to an equity compensation plan that permits a...more