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Corporate Counsel

Hertz Adds GC and Ex-GC as Directors, Signaling Appreciation for Insights Attorneys Bring to Boardroom

"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 former AbVie legal chief Laura Schumacher, a director of General Dynamics and CrowdStrike.
3 minute read

New York Law Journal

Resolving an Open Question on Diversity Jurisdiction

"The Second Circuit's holding that state domicile is relevant to the diversity jurisdiction analysis in cases involving an unincorporated association with permanent resident members resolves a disagreement among district courts on this question," write Martin Flumenbaum and Brad S. Karp.
8 minute read

New York Law Journal

Caring for the Closely Held Business: Zeroing Out Profits

"Adopting a decision structure which allows for consideration of an independent voice and credible comparability studies should go a long way to building the necessary record," writes Jeffrey A. Galant.
8 minute read

Delaware Business Court Insider

In Wake of 'Purdue Pharma,' Del. Bankruptcy Court Clarifies That Preliminary Injunctions of Claims Against Nondebtors Remain Permissible

In the wake of the U.S. Supreme Court's landmark decision this June in Harrington v. Purdue Pharma, the U.S. Bankruptcy Court for the District of Delaware recently addressed a question left open by the Supreme Court—whether a bankruptcy court may still issue a preliminary (i.e., temporary) injunction of a creditor's claims against a nondebtor.
7 minute read

International Edition

Carrots vs. Sticks: How Companies Are Using Corporate Compliance Strategies to Fight Corruption in Latin America

Corruption in Latin America remains widespread, despite government efforts to curtail it, but businesses operating in the region are rising to the challenge. Data from a recent survey reveals that corporations are increasingly responding to elevated corruption risks and low levels of trust in state institutions by adopting sophisticated compliance strategies that mitigate risks and protect legitimate business operations. (Part 2)
5 minute read

International Edition

Carrots vs. Sticks: Corporate Compliance, Not Enforcement, Is Driving the Fight Against Corruption in Latin America

Corruption in Latin America remains widespread despite government efforts to curtail it, but businesses operating in the region are rising to the challenge. Data from a recent survey reveals that corporations are increasingly responding to elevated corruption risks and low levels of trust in state institutions by adopting sophisticated compliance strategies that mitigate risks and protect legitimate business operations.
5 minute read

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

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