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Turns out Vice-Chancellor Laster, who last month blocked a shareholder vote on Del Monte's LBO because of its financial adviser's conflict of interest, isn't the only Delaware jurist siding with shareholders. Vice-Chancellor Noble on Friday called a temporary halt to a shareholder vote on Qualcomm's acquisition of Atheros. And once again, the financial adviser's fee is at issue.
The chief judge of the U.S. Court of Appeals for the Ninth Circuit handed plaintiffs securities lawyers a partial victory Wednesday, while one of his protégés handed them a flat-out defeat.
Nonequity partners may be casualties
Forget associate layoffs. The most precarious position for attorneys in big law firms right now may well be among the nonequity partner ranks. Although two-tier partnerships have existed in some law firms for decades, more recently many firms have drastically boosted their nonequity numbers as a way to transition associates into full-partner status and to determine which attorneys can cut it as a firm owner in the future.The fight over the validity of so-called unfinished business claims in law firm bankruptcies is heating up in courts on both coasts this week.
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