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An already hot case just got a little hotter. Huntsman is suing the banks that backed out of financing its merger with Hexion for billions. Hexion's parent, Apollo, is supposed to be helping Huntsman. But now the banks have roped Apollo's founders in as third-party defendants. We can't wait til the June trial date!
Pepsi's rejected $6 billion offer to buy up two big bottlers has now spawned a suit alleging that the target held a secret meeting and adopted an invalid poison pill to ward off the soda giant. Sounds a lot like Broadcom's recent suit against Emulex. Is there a trend in M&A land?
Law Students/Aspiring Filmmakers Bringing 'Brown' to Big Screen
If you want to be in the movies -- a business short on rules and precedents but full of opportunities for the zealously confident -- being a lawyer's not a bad thing. Columbia Law School students John Sarason Saroff and Michael Bogner plan to do both, as they earn their J.D.s while shepherding the story of law professor Jack Greenberg's involvement in Brown v. Board of Education through the Hollywood maze to a theater near you.Pennsylvania has now joined New Jersey in ruling that auditors aren't always protected by the common law doctrine. Will New York be next?
For the second time in less than a week, a Delaware Chancery Court judge had harsh words for a CEO seeking to sell his company in a multibillion-dollar deal, but stopped short of blocking the proposed sale.
Two new California state court suits filed by Grais were the subject of a Sunday New York Times column that noted his strategy of steering clear of hard-to-prove fraud allegations. But there are still a raft of defense firms standing between Grais and a big payday.
Will Majority Rule Prevail in Electing Corporate Boards?
Majority voting is the big issue of proxy season 2006, dividing businesses and their outside counsel as well. This year more than 140 businesses faced proposals from shareholder activists wanting to alter methods of electing board members. Activists seeking the change hope to increase board members' accountability. Those opposed say it will destabilize companies, letting parties with short-term interests sway board composition. But both sides agree majority voting marks a shift in corporate power dynamics.AOL, DOJ Talks In Question in Microsoft Case
Microsoft Corp. attorneys on Friday grilled America Online Inc. chief executive Steve Case about how closely the company worked with the Justice Department last fall to keep merger negotiations between Netscape Communications Corp. and AOL secret at the height of the software giant's antitrust trial. At issue is a conversation between AOL's then-general counsel George Vradenburg III and David Boies, the government's lead attorney.Trending Stories
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