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Delaware Business Court Insider

Icahn Stockholders Not Entitled to Privileged Info Based on Stockholders' Nomination and Employment Relationship With Company Director

In the court's recent decision, Icahn Partners v. Francis deSouza, the plaintiff Icahn stockholders sought to use privileged and confidential information shared with them by their designated director in a complaint, asserting direct and derivative fiduciary claims against other directors.
5 minute read

Law.com

Siemens Industry Agrees to $1M Settlement for Misrepresenting Energy Data Prior to Public Housing Renovations

"These misrepresentations also ensured that Siemens was always on the 'right side' of its guarantees (falsely reflecting cost savings) to the HHC, which ensured that Siemens would not be held responsible for failing to deliver the energy savings that it promised when it sought HUD approval," according to the plaintiffs' complaint.
3 minute read

The Recorder

Suits Alleged JPMorgan Chase Committed Elder Abuse in Allowing 'Pig Butchering,' Fake IRS Scams

A pair of lawsuits filed against JPMorgan Chase in Los Angeles and San Mateo superior courts alleged that the bank committed elder abuse by facilitating the theft of a combined $2 million from two elderly women's life savings through "pig butchering" schemes and fake Internal Revenue Service agent scams.
4 minute read

National Law Journal

Real Estate Pressure Likely to Keep Chapter 11 Filings Flowing in 2024

Bankruptcy experts are now expecting to see a steady stream of Chapter 11 filings continue throughout 2024, though not with a year-over-year jump like 2023's.
3 minute read

Delaware Business Court Insider

Tesla Shareholder Wins Challenge to Elon Musk's Tesla Comp Package

Chancellor Kathaleen McCormick concluded Musk was a controller of Tesla under Delaware law, putting the burden of entire fairness on his defense team from Cravath, Swain & Moore and Ross Aronstam & Moritz.
3 minute read

Law.com

DC-Area Walmart Stores Accused of Mispricing Items, Charging More at Check Out in Class Action Lawsuit

According to the class action suit, more than 400 items were mispriced throughout store locations in D.C., many of which are alleged to have been mispriced and left uncorrected for months.
3 minute read

New Jersey Law Journal

Knockoff Air Jordans Prompt Nike Trademark Infringement Suit Against 'Bootlegger,' Designer

This suit was surfaced by Law.com Radar, ALM's source for immediate alerting on just-filed cases in state and federal courts. Law.com Radar now offers state court coverage nationwide. Sign up today and be among the first to know about new suits in your region, practice area or client sector.
3 minute read

The Legal Intelligencer

Cybersecurity Lessons and Practical Tips to Implement Them

Implementation of practices has become especially crucial considering the newly required cybersecurity incident reporting and cybersecurity risk management and governance disclosure for public companies passed by the SEC last year.
7 minute read

Daily Report Online

'Or They Could Have Fired Deloitte': Embattled CFO Appeals Case, Arguing Auditor Pressed Company Into Firing Him

"The evidence is there that she was angry about the shifting responsibilities from her to [the plaintiff] and that could be a motive to destroy his career," said plaintiff-appellant counsel Randolph Mayer.
5 minute read

Corporate Counsel

Bell Tolls on Mandatory Retirement for Exxon Mobil GC

Exxon Mobil's mandatory retirement age of 65 forced the oil giant's prior two general counsel into retirement. Will current GC Craig Morford be next when he turns 65 on Feb. 10?
7 minute read

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