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  • Parties in Nortel Appeals Seek Fast Track to Third Circuit

    A ruling by two judges in two different countries over the disbursement of $7.3 billion in Nortel Networks assets has resulted in at least 11 appeals that promise to lengthen a case that has already gone on for six years and generated more than $1.3 billion in legal fees.

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  • Chancery Court Scrutiny of Nonmonetary Settlements Continues

    At a July 8 hearing in Delaware Court of Chancery Vice Chancellor J. Travis Laster declined to approve a proposed settlement of shareholder litigation challenging the acquisition of Aeroflex by Cobham PLC, a Great Britain-based manufacturing company.

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  • Orbitz Shareholder Can't Prove Demand Futility in Travelport Suit

    Board directors for travel company Orbitz did not breach their fiduciary duties when they approved a services agreement in which the corporation promised to pay a shortfall to entities affiliated with its controlling shareholder if it does not process a guaranteed minimum of air, car and hotel reservations through the controlling shareholder, Delaware Court of Chancery Chancellor Andre G. Bouchard has ruled.

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  • Dell Shareholders Denied Appraisal Bid

    A 45-year-old law aimed at easing the "paperwork crisis" surrounding increased stock trading in the 1960s has created a legal gray area and a string of court precedent that Delaware Court of Chancery Vice Chancellor J. Travis Laster said forced him to deny a group of Dell shareholders an appraisal of the company's going-private merger.

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  • Shareholder Derivative Suit Over AbbVie Spinoff Axed

    AbbVie shareholders cannot bring a derivative suit against individual directors for the transfer of liabilities when AbbVie was spun off by Abbott Laboratories, the Delaware Court of Chancery has ruled.

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  • Delaware Expands Jurisdiction Over Directors

    A recent but little-known decision by a Delaware court may have substantially expanded the state's jurisdiction over the directors of a Delaware corporation.

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  • 'Offensive' Conduct Weighed in Fight Over Website Ownership

    One of the business owners of NewYork.com could have damaged his company's reputation by acting offensively in front of other employees, Delaware Court of Chancery Vice Chancellor Donald F. Parsons Jr. has ruled in a fight over the future ownership of the website domain.

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  • Chancery Court Looks Beyond Deal Price to Determine 'Fair Value'

    In Delaware Court of Chancery Chancellor Andre G. Bouchard's first opinion in an appraisal action, he awarded the stockholder plaintiff nearly $16 million more for his shares than the merger consideration.

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  • Fiduciary Duties in LLC Acquisition Vehicles

    In most private equity and other leveraged buyout transactions, the acquiring group will create a new legal entity to serve as the acquisition vehicle.

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  • Superior Ct. Dismisses 11-Year-Old Fraud Case Against AstraZeneca

    Almost 11 years after the suit was filed, a Delaware court has dismissed a class action against AstraZeneca over its alleged consumer fraud in the marketing of heartburn medication Nexium.

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