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  • Savient Had No Duty to Inform Shareholders of Active Plans to Sell

    A pharmaceutical maker that had stated in SEC filings it was no longer going to focus on selling the company but rather marketing its sole drug itself did not have a duty to tell shareholders when it hired Lazard Freres & Co. and began shopping around for prospective buyers, a federal judge has ruled.

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  • Chancery Dismisses Stockholder Class Action Against Kinder Morgan

    The Delaware Court of Chancery has scuttled a stockholder class action challenging an energy infrastructure company's reorganization of its publicly traded master limited partnership and limited liability companies in order to stave off financial collapse.

  • Non-Appearing Appraisal Claimants' Right to Settle Claims Affirmed

    The Delaware Court of Chancery recently addressed the right of individual dissenting shareholders to settle their appraisal demands.

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  • Hedge Fund Appeal Denied in Tribune Media Bankruptcy Case

    The U.S. Court of Appeals for the Third Circuit has denied the appeal of a hedge fund vying for litigation that could leave it with more money than it is on track to receive in the Tribune Media Co. bankruptcy case.

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  • Not All Unauthorized Computer Conduct May Violate Delaware Statute

    The plaintiff in (Del. Ch. May 29, 2015) asserted numerous claims against its former director and part owner arising from a series of agreements related to the operation of the company. In addition to claims for breach of contract and business torts, Base Optics Inc. alleged that defendant Yaping Liu committed computer-related offenses under Title 11, Sections 932-935 of the Delaware Code. Base Optics alleged Liu changed the passwords to certain email accounts, signed in and read certain emails and used her control of certain email accounts to forward emails and attachments to a different email account in her name.

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  • Advancement Upheld When Fees Applied Both to Civil, Criminal Tribunals

    A corporation's advancement obligation must be honored even when the ex-employee was the subject of criminal charges, if the fees incurred were intertwined with the defense of a civil enforcement action, a Delaware Court of Chancery judge has said in a letter opinion.

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  • In Rare Move, Bouchard Forces Sale in Business 'Divorce'

    After Elizabeth Elting and Philip R. Shawe were college roommates in business school, their brief engagement to be married swiftly came to an end. But they went on to found a global leader in supporting litigation, in translation services and in localizing websites.

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  • Chancery Clarifies Scope of 'Equitable Standing' in Derivative Actions

    In , 2015 Del. Ch. LEXIS 192 (Del. Ch. July 21, 2015), Vice Chancellor Sam Glasscock III rejected the plaintiffs' request that they be accorded "equitable standing" to pursue derivative claims and clarified that, absent well-pleaded facts reflecting a "wrong abhorrent to equity," there are no exceptions to the standing requirements for derivative actions set forth in 8 Del. C. Section 327.

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  • Al-Jazeera's Indemnification Claims for $100M in Ex-VP Gore Suit Survive

    An Al-Jazeera Media Network subsidiary has kept alive its indemnification claims against former Current TV owners, including former Vice President Al Gore, for more than $100 million.

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  • Investor Lacks Grounds to Displace Appointed Receiver

    A leading investor in a Silicon Valley startup incubator does not have grounds to displace the court-appointed receiver now in charge of the venture capital firm, Delaware Court of Chancery Vice Chancellor Donald F. Parsons Jr. has ruled.

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