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Delaware Business Court Insider

'Faithless Fiduciaries': Live Nation Faces Chancery Litigation Amid Anticompetition Allegations

Live Nation shareholders, in a complaint, said they were misled about anti-competitive practices as well as Live Nation's compliance with government investigations, placing the company at financial and reputational risk.
2 minute read

International Edition

'Firms Fear the PR Hit, Not the Sanction': Big Law on Edge After Simpson Thacher AML Prosecution

The London office of another prestigious New York-headquartered law firm has expressed concern over the news this week that Simpson Thacher will face a U.K. tribunal for alleged AML shortcomings.
5 minute read

New York Law Journal

Amending New York's Franchise Law to Promote Franchise Growth

"New York businesses, and those who would like to do business in New York, should not have to conduct themselves under the cloud and uncertainty of New York's NYFSA," write Marc A. Lieberstein, David T. Azrin and Thomas M. Pitegoff.
6 minute read

Delaware Business Court Insider

Minority Stockholder Was Not a Controller Because Plaintiff Did Not Adequately Plead Actual Control of the Company's Business Affairs

The actual control theory is "not easy to satisfy." In its recent decision, Scianella v. AstraZeneca UK Limited, C.A. No. 2023-0125-PAF (Del. Ch. July 8, 2024), the Delaware Court of Chancery emphasized that plaintiffs have a steep burden even at the pleadings stage to demonstrate actual control.
5 minute read

Delaware Business Court Insider

People of Bikini Claim 'No Questions Asked' Practices Resulted in Trusts' Depletion

Trusts created for persons from the Pacific island that became a nuclear test site have been drained, according to a lawsuit filed in Delaware Chancery Court.
3 minute read

Corporate Counsel

AIG's Lucy Fato Goes in New Direction With Latest Legal Chief Post

Fato has joined Seaport Entertainment Group, which is backed by billionaire hedge fund manager Bill Ackman and is pursuing opportunities that combine entertainment and real estate.
3 minute read

Corporate Counsel

Mitigating Off-Channel Communications: A Guide for In-House Counsel and Compliance Professionals

Off-channel communications—those that occur outside of approved corporate systems—can pose a considerable challenge for regulatory compliance, data security and overall business integrity.
12 minute read

Delaware Business Court Insider

Nikola Sued for Delayed Production 'Inherited' Through Subsidiary

A newly-filed complaint alleges that Romeo, a California-based company that designs and produces lithium-ion battery packs for electric vehicles, overstated its ability to meet production goals, earning a fraction of its anticipated revenue.
3 minute read

Delaware Business Court Insider

Upholding $266.7M Fee Award, Del. Supreme Court Rejects Diminishing-Returns Curb on Bigger Wins

The opinion by Chief Justice Collins J. Seitz Jr. states Delaware precedent doesn't support requiring a declining percentage fee model like the one used in federal courts.
4 minute read

Corporate Counsel

Financial Firms Hit With Another $470M in 'Off-Channel' Communications Fines

The 3-year-old crackdown now has yielded more than $3 billion in penalties, and regulators show no signs of letting up.
2 minute read

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