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Delaware Business Court Insider

Chancery Finds Expert Valuations Are Inadmissible as Hearsay Evidence

The Delaware Court of Chancery issued an important evidentiary ruling in Zohar II 2005-1 Ltd. v. FSAR Holdings, finding that expert valuation reports were inadmissible as hearsay.
3 minute read

Delaware Business Court Insider

The Virtue of Predictability: Delaware's Place in M&A Practice

As has been widely reported, for the first time in 15 years, Delaware has been dethroned as the nation's top court system according to a recent survey, which sought to explore “how fair and reasonable the states' liability systems are perceived to be by U.S. businesses.”
15 minute read

Delaware Business Court Insider

Chancery Declines Confidential Treatment to Nonparty's Claimed Sensitive Business Info

American courts have long recognized that the public enjoys a First Amendment right of access to judicial proceedings and records. While forceful, the right is only presumptive, and the public's interest in access may be overcome with an adequate showing of need.
8 minute read

Delaware Business Court Insider

Questions Raised on Required Clarity of Disclosures in SEC Filings

Two recent decisions of the Delaware Court of Chancery separated by only two weeks took seemingly contradictory positions regarding the extent to which corporate disclosures must be made clear in proxy statements and other SEC filings.
17 minute read

Delaware Business Court Insider

Thicker Than Water: Families, Fiduciary Duties and Controlling Stockholders

When is an extended family a control block? The Delaware Court of Chancery acknowledged that while familial relations among a group of stockholders are not per se sufficient to establish a controlling stockholder block, a family that regularly refers to itself as a single unit may constitute a controlling stockholder block.
6 minute read

Delaware Business Court Insider

Chancery Recommends Rule to Determine Preclusive Effect of Judgments in Prior Derivative Actions

The predominant approach in most jurisdictions to determine whether the dismissal of a derivative action based on the failure to adequately plead demand futility bars re-litigation of this issue in a subsequent derivative action brought by a different stockholder plaintiff is to apply the traditional legal test for issue preclusion.
18 minute read

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