Delaware Business Litigation Report

Delaware Business Litigation Report "provides summaries of the recent decisions of those courts in business-related litigation. It also permits keyword searches to find those decisions."

Author: The blawg is sponsored by Delaware law firm Morris James, which handles corporate and bankruptcy litigation, and gives companies advice in tax, estate planning and real estate matters.

Blawg Related Categories: Corporate Law • Corporate Compliance • Labor & Employment • States • Delaware • Business Law

Recent Posts from Delaware Business Litigation Report

Lead Plaintiff and Counsel Appointed
City of Roseville Employees’ Ret. Sys., v. Horizon Lines Inc., C.A. No. 08-969 (D. Del. June 18, 2009) In this putative class action, the plaintiffs allege that Horizon, a container shipping and logistics company, fraudulently…
Court of Chancery Awards Fees of 27.5%
In re TD Banknorth Shareholders Litigation, C.A. 2557-VCL (June 25, 2009) In this order, the Court awarded 27.5% of the class recovery of $964,086 to class counsel. This illustrates that sometimes, the smaller the pie,…
Court of Chancery Extends Claim Filing Deadline
CME Group Inc.v. Chicago Board Options Exchange Inc., C.A. 2369-VCN (June 25, 2009) Class action settlements often have a claim procedure that is complicated. Class members miss the deadlines and mess up their filings. However,…
Rales Test Applied to Allegation of Board Inaction
In re Intel Corp. Derivative Litig., C.A. No. 08-93-JJF (D. Del. June 4, 2009) This opinion discusses when a court will apply the Rales test rather than the Aronson test in deciding whether a derivative plaintiff…
Explicit Promise of Favorable Financing Not An Implied Obligation
Southern Track & Pump Inc. v. Terex Corp., C.A. No. 08-543-JJF (D. Del. June 9, 2009) By granting, in part, the defendant’s motion to dismiss its claim for breach of the implied covenant of good…
Court of Chancery Explains Limits on Offensive Advancement
Duthie v. CorSolutions Medical Inc., C.A. 3048-VCN (June 16, 2009) It is well known that directors with advancement rights may call on those rights even when acting as a plaintiff. This decision explains the limits…
Court of Chancery Signals Concern Over Fees to be Paid by the Benefited Company
Gatz v. Ponsoldt, C.A. 174-CC (June 12, 2009) This decision raises an interesting question over whether attorneys fees should be paid when the fees in a way that does not benefit the company for whom…
Court of Chancery Rejects Claim of Financial Support for Merger
James Cable LLC v. Millennium Digital Media Systems LLC, C.A. 3637-VCL (June 11, 2009) When a party to a merger agreement must rely on the financial support of a third party to complete the deal, that…
Licensor's Action to Recover Royalties Overcomes Motion to Dismiss in Superior Court
Boyce Thompson Institute For Plant Research v. MedImmune, Inc., C.A. No. 07C-11-217 JRS (Del. Super. May 19, 2009) (applying New York law per choice of law provision) This opinion discusses some interesting contractual interpretation and…
Superior Court: Action May Proceed Against Licensor Despite First-Filed Actions
STMicroelectronics N.V. v. Agere Sys., Inc., C.A. No. 08C-09-099 MMJ (Del. Super. May 19, 2009) (applying New York law per choice of law provision) This case illustrates the series of events that may arise when…