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International Edition

Climate Litigation Marked by Global Expansion and Strategic Filings

A new category of "transition risk" has emerged involving cases filed against corporate directors over management of climate risks.
4 minute read

Law.com

Lawsuit Says Nike Officers Misled Shareholders Over Direct-to-Consumer Sales Strategy

The shareholder proposes a class of those who purchased Nike Class B stock between March 2021, when Nike announced its third quarter financial results, and March 2024, when it was announced Nike would be scaling back on its direct-to-consumer strategy.
2 minute read

National Law Journal

Morrison Foerster, Gibson Dunn, DLA Piper, McGlinchey Bring on DC Lateral Partners

Law firms added laterals in their public company advisory and governance, white-collar, tax and energy groups.
3 minute read

Law.com

Inside Track: Elon Musk's Latest Tesla GC Showing Staying Power in Tricky Role

Chancellor Kathaleen McCormick of the Delaware Court of Chancery wrote in January that Tesla CEO Elon Musk "wields unusually expansive managerial authority, equaling or even exceeding the imperial CEOs of the 1960s."
3 minute read

New Jersey Law Journal

Appellate Division Gives Trial Courts Power to Rescind LLC Dissolution Certificates

"For the reasons that follow, we agree the LLC statutes do not empower the Department to rescind such certificates administratively, in the absence of a court order directing such relief," Presiding Appellate Division Judge Jack M. Sabatino said in his written opinion for the court.
4 minute read

Delaware Business Court Insider

Shareholder Primacy in Delaware Corporation Law: Court of Chancery Makes Clear That Delaware Law Assumes 'Single-Firm Model'

The Delaware Court of Chancery recently had the opportunity to weigh in on a plaintiff's unique theory of director and officer fiduciary duties arising out of the stakeholder capitalism model of corporate governance.
7 minute read

Delaware Business Court Insider

Chancery Reviews SPAC Precedents and Dismisses Complaint for Failure to Show Impairment of Stockholders' Redemption Rights

In the recent decision of In re Hennessy Capital Acquisition IV Shareholder Litigation, the Delaware Court of Chancery observed that the ensuing "abundance of SPAC fiduciary duty claims suggests that stockholder plaintiffs have taken notice," and that SPAC litigation had become "ubiquitous" in the court.
10 minute read

Delaware Business Court Insider

Rare Opposition to Proposed Del. Corporate Law Changes Is Voiced to House Committee

The current proposal has spurred pushback well beyond the norm, with 50 law professors sending a letter to legislators urging them to reconsider passing the bill and instead leave the questions raised by Moelis to be addressed on appeal by the Delaware Supreme Court.
5 minute read

Corporate Counsel

Judge Dismisses Exxon Suit Against Investor, Defusing Showdown That Sparked Outrage

Federal Judge Mark Pittman ruled the case became moot after Arjuna Capital promised to withdraw the climate change shareholder proposal that had spurred the lawsuit and to never submit anything similar again.
4 minute read

Corporate Counsel

More GCs Join Corporate Boards, but 'Legal Functionary' Stereotype Creates Headwind

"The law teaches us how to think about both sides of things, how to anticipate issues, how to see around the corner, and all of those skills are very, very important to be a valuable board member," said ex-AbbVie Chief Legal Officer Laura Schumacher, a director of two companies.
6 minute read

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