Former Allegro Development Corp. CEO Eldon Klaassen accused his company's board of scheming with two venture capital firms to depose him. Delaware Vice Chancellor J. Travis Laster ruled that Klaasen couldn't use a lawsuit to claw his way back to the top.
With legal battles forcing JPMorgan Chase & Co. to set aside an eye-popping $23 billion for litigation costs, several Am Law 100 firms are reaping hefty legal fees for their work representing the bank, including Sullivan & Cromwell, Wilmer Cutler Pickering Hale and Dorr, and Paul Weiss Rifkind Wharton & Garrison.
The Delaware Supreme Court on Thursday approved the video game publisher Activision Blizzard's massive share buyback from Vivendi SA, handing a big come-from-behind victory to lawyers at Wachtell, Lipton, Rosen, & Katz and Skadden, Arps, Slate, Meagher & Flom.
In five years, Sirius XM Radio has gone through a major merger, a near-bankruptcy and a creeping takeover by Liberty Media. If you think that sounds like a recipe for shareholder litigation, you're absolutely right. But the company's defense lawyers keep spoiling the fun.
Siding with lawyers at Paul Hastings, Wachtell, and Gibson Dunn, a divided California Court of Appeal rejected an attempt to punish a public company for ignoring a shareholder vote on executive compensation, in the latest test of Dodd-Frank "Say on Pay" legislation.
A state court judge in New York slammed plaintiffs lawyers for their conduct in a shareholder M&A class action and warned them not to bet on a big payday in the case.
Stuart Grant of Grant & Eisenhofer called the Delaware Supreme Court's ruling "incomprehensible," saying it's both unjust and at odds with the court's earlier statements related to Countrywide and Bank of America.
3M Company didn't dupe Sweden's Meda AB into overpaying for its European drug business, according to a ruling by Manhattan U.S. District Judge Alison Nathan. The decision is a victory for Bickel & Brewer.
In one of the few "bank-on-bank" cases arising from the financial crisis, JP Morgan Chase & Co. has emerged the winner in a $3 billion battle with Bank of America. Manhattan U.S. District Judge Alison Nathan issued summary judgment for Bear Stearns Asset Management Inc., which is owned by J.P. Morgan, in a dispute over an enormous failed collateralized debt obligation.