News & Analysis as of

Nextel

Eversheds Sutherland (US) LLP

No loss: Stricken by the Pennsylvania Supreme Court, the NOL deduction nevertheless is allowed 

In General Motors Corporation v. Commonwealth, the Pennsylvania Supreme Court held that the state’s prior flat $2 million cap on a corporate taxpayer’s net operating loss (NOL) deduction violated the state constitution’s...more

Morgan Lewis

Supreme Court Won’t Hear Nextel’s Challenge to PA’s Cap on Net Operating Loss Carryforwards

Morgan Lewis on

Following the US Supreme Court’s denial of cert in Nextel, taxpayers with protective refund claims held pending the ultimate outcome of Nextel will need to re-evaluate their claims as Pennsylvania begins to address them...more

Tucker Arensberg, P.C.

Pennsylvania Supreme Court Declares $3,000,000 Net Loss Carryover Deduction Unconstitutional

Tucker Arensberg, P.C. on

On October 18, 2017 the Pennsylvania Supreme handed down its decision in Nextel Communications of the Mid Atlantic v. Commonwealth of Pennsylvania No. 6 EAP 2016. The tax provision at issue gave taxpayers with a net...more

Ballard Spahr LLP

Pennsylvania Supreme Court Declares Dollar-Based NOL Cap Unconstitutional

Ballard Spahr LLP on

In a unanimous decision in Nextel Communications of the Mid-Atlantic, Inc. v. Commonwealth, the Pennsylvania Supreme Court affirmed the Commonwealth Court's holding that Pennsylvania's dollar-based cap on corporate net income...more

A&O Shearman

Delaware Chancery Court Finds No Fiduciary Duty Breach, Notwithstanding Entire Fairness Review, And Determines Appraisal Value To...

A&O Shearman on

On July 21, 2017, Vice Chancellor J. Travis Laster of the Delaware Court of Chancery (i) entered judgment in favor of defendants Sprint Nextel Corporation (“Sprint”) and Softbank Corp. (“Softbank”) on claims of breaches of...more

McGuireWoods LLP

The Ten Most Significant Class Action Cases of 2015

McGuireWoods LLP on

Some years are exciting in class action practice; others are tamer. In general, in any established area of the law, precedent accumulates only incrementally. And, with the modern Rule 23 entering its 50th anniversary year, it...more

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