Delaware

Good News for Deal Lawyers: Carl Icahn Mulls Yahoo Proxy Fight

In a slow season for corporate deals, renowned activist investor Carl Icahn has provided some good news for mergers and acquisitions lawyers. He reportedly has purchased as many as 50 million shares of Yahoo Inc. stock and, in the wake of Microsoft Corp.’s failed bid for the Internet giant, is…

May 13, 2008 9:09 PM CDT

Yahoo Director’s Honeymoon to Delay Deposition in Pension Fund Suit

Delaware Chancellor William Chandler III says he is “a bit mystified” why a Yahoo director can’t find time for a deposition before he begins a delayed honeymoon on May 4, but the judge has refused to order the official to appear for the proceeding. Director Arthur Kern says he’ll be…

Apr 30, 2008 12:45 PM CDT

Wolf Block Acquires Five-Lawyer White-Collar Crime Firm in Delaware

East Coast law firm Wolf Block has acquired a five-lawyer law firm in Delaware that includes the state’s former attorney general, Charles Oberly III. The Delaware firm, Oberly Jennings & Rhodunda, will add white-collar and corporate investigations expertise to Wolf Block’s Wilmington office, the Legal Intelligencer reports. One of the…

Apr 29, 2008 11:50 AM CDT

To Delete or Not to Delete? Not Doing So Puts Deal Lawyer on Hot Seat

In Peter Ehrenberg’s 34-year legal career, testifying in December in a Georgetown, Del., courtroom was clearly a low point for the Lowenstein Sandler partner. Like other M&A lawyers, he had found the second half of 2007 a difficult time to try to close deals. But Ehrenberg got particularly unlucky. Contested…

Apr 25, 2008 8:17 PM CDT

Ex-Saul Ewing Partner Loses New Trial Bid in Killing of Mistress

A federal judge has refused to grant a new trial to Thomas Capano, a former partner at Saul Ewing in Delaware who was convicted of murdering his mistress in 1996. Thomas Capano had argued he deserved a new trial because jurors were never given the option of convicting him of…

Apr 16, 2008 1:19 PM CDT

Two Pension Funds Seek TRO Against Bear Stearns Stock Sale

Two Michigan-based pension funds are asking a Delaware court to issue a temporary restraining order to block a stock arrangement that facilitates JPMorgan Chase’s takeover of Bear Stearns. The funds want to stop JPMorgan’s plan to buy 95 million newly issued shares in Bear Stearns, report the Wall Street Journal…

Mar 26, 2008 1:02 PM CDT

Elvis Memorabilia Has Not Left the Building

The Delaware Supreme Court has upheld a ruling giving a California businessman the right to sell Elvis Presley memorabilia once owned by the singer’s personal physician. The collection includes a device used to irrigate Presley’s sinuses, a laryngeal scope used to examine his throat, prescription bottles, jewelry and guns, the…

Nov 8, 2007 3:41 PM CST

Parties Lawyer Up in Sallie Mae Case

As litigation looms between the now-reluctant buyer of a student loan provider and the willing bride, spectators are looking to see who weighs in as lead counsel in a lawsuit to enforce the $25 billion deal—or at least obtain a promised $900 million breakup fee. In Sallie Mae’s corner, heavyweight…

Oct 9, 2007 11:04 PM CDT

Stents Help Patients’ Hearts, Lawyers’ Bottom Line

Coronary artery stents are big business—not only for the companies that make them but also for lawyers. Litigation over patent rights may be hindering development of new products and forcing small companies to sell out to bigger competitors, experts told the New York Times. “The stent business is an unusually…

Oct 4, 2007 2:07 PM CDT

In-House DuPont Lawyers Post Profit

Like many corporations, DuPont Co. spends a lot of money on its in-house law department. The department’s annual budget was about $230 million last year. However, unlike most corporations, the Wilmington, Del.-based chemical giant has been getting more than it pays for. The company’s in-house counsel brought in $290 million…

Oct 2, 2007 7:50 PM CDT

Delaware State U. on Lockdown After Shooting

Delaware State University is on lockdown after a gunman shot and wounded two students early today. Students have been directed to stay in their dorms, university spokesman Carlos Holmes told the Associated Press. “We don’t know where the shooter’s at.” One of the students suffered “potentially life-threatening” injuries, Holmes said.…

Sep 21, 2007 1:40 PM CDT

Judge Delays Private Buyouts

Two deals to sell public companies to private investors have hit a wall in the form of Delaware Judge Leo E. Strine Jr. In two recent opinions, the chancery court judge required companies to disclose more information to shareholders about provisions of buyout deals that favored company managers, the Wall…

Jul 12, 2007 5:51 PM CDT

Penn. Attorney Disbarred in Delaware

A Pennsylvania attorney has been disbarred in Delaware, even though she was never admitted to practice there and maintains a law office in Pennsylvania. That’s because Valerie J. Glover, who lives in Delaware, “did everything short of appearing in Delaware courts, and engaged Delaware attorneys as co-counsel only if she…

Jun 4, 2007 8:44 PM CDT