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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

Corporate Counsel

Former GC and CEO of Merck Joins Harvard Governing Board, Jumping Into Fray

"Academic excellence and academic freedom lie at the heart of Harvard's essential mission of teaching, learning and scholarship," Kenneth Frazier said in a statement.
4 minute read

Corporate Counsel

Stinging Musk Defeat Throws Spotlight on Role of Tesla GC Todd Maron

Chancellor Kathaleen McCormick found Maron was "totally beholden" to the billionaire and that three of Tesla's eight board members were as well.
4 minute read

Corporate Counsel

Exxon Investors Yanking Contentious Shareholder Proposal, Averting Court Showdown

The energy giant had sued Arjuna Capital and Follow This last month, saying they were abusing the shareholder-proposal process to try to "shrink" the company.
3 minute read

Litigation Daily

Litigators of the Week: Rolling Back Elon Musk's $56B Tesla Compensation Package

A team led by Greg Varallo and Jeroen van Kwawegen of Bernstein Litowitz Berger & Grossmann and David Tejtel of Friedman Oster & Tejtel secured a post-trial ruling from Delaware Chancellor Kathaleen McCormick finding that when it came to the Tesla CEO's pay package "Musk launched a self-driving process, recalibrating the speed and direction along the way as he saw fit."
10 minute read

International Edition

Milbank Leaders Praise Non-Equity Partnership Tier Amid London Growth

In an interview with Law.com International, London co-managing partner Andrej Wolf said the firm's famously high NQ pay is "indirectly demanded" by clients.
4 minute read

Delaware Business Court Insider

Here's How Elon Musk's $56B Executive Comp Loss Could Reverberate

Shortly after Chancellor Kathaleen St. J. McCormick issued her post-trial opinion finding Elon Musk's $56 billion compensation agreement with Tesla should be rescinded, Musk posted one possible takeaway: "Never incorporate your company in the state of Delaware."
5 minute read

Corporate Counsel

'Caught in the Middle': ESG-Related Risks Soar for Legal Departments

Ten percent of legal departments faced ESG-related litigation last year, up from 2% a year earlier, Norton Rose said in a new study.
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

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

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