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The American Lawyer

Commercial Bankruptcy Set to Rival 2020 If Current Trends Hold

Not since the global financial crisis have large corporate bankruptcies been as common as they are this year, according to a new report by New Generation Research.
3 minute read

The American Lawyer

Weil Continues Private Equity-Fueled Houston Energy Expansion With Pillsbury Hire

Irina Tsveklova is the fourth partner hired to the firm's Houston energy team since April.
3 minute read

Delaware Business Court Insider

Court of Chancery Sustains Derivative Complaint Based on Allegations That the Board Acted in Bad Faith

In IBEW Local Union 480 Defined Contribution Plan and Trust v. Winborne, the Court of Chancery provided guidance concerning the holistic inquiry that the court uses to assess good faith, holding that the plaintiff successfully had pleaded that a majority of the board acted in bad faith in approving a buyout of a liability for $850 million that the company contemporaneously valued at $175.3 million in its audited financial statements.
6 minute read

Delaware Business Court Insider

Court of Chancery Examines Director's Personal Relationship in Dismissing Duty of Loyalty Claim

Vice Chancellor Sam Glasscock III considered whether a personal relationship between an independent director and a conflicted director was sufficient to corrupt the independent director's loyalty in approving a cash only freeze-out merger.
7 minute read

The Legal Intelligencer

Faegre Drinker Nabs 4-Partner Team From Armstrong Teasdale, Led by Phila. Office Founder

Richard Scheff had been the executive chairman at Montgomery McCracken Walker & Rhodes before leading a group to the St. Louis-based firm in 2018.
4 minute read

The Legal Intelligencer

16 Attorneys Move to Dilworth Following Schnader Dissolution

The group does not include any associates. "We need to see what the demand looks like," Dilworth chairman Lawrence McMichael said. "We did offer a couple of associates positions, but they went elsewhere."
3 minute read

The American Lawyer

McDermott Hires Former EY GC From Gibson Dunn, as Accounting Firms Face More Scrutiny

Ron Hauben's arrival at McDermott coincides with increased regulatory activity from the SEC and PCAOB.
3 minute read

Delaware Business Court Insider

Court of Chancery Holds 'Corwin' Inapplicable to Claims Governed by 'Unocal' Standard

In In re Edgio Stockholders Litigation, the Delaware Chancery Court was asked to apply the same cleansing effect to a claim for injunctive relief analyzed under Unocal, but Vice Chancellor Morgan Zurn found that Corwin was inapplicable.
6 minute read

Delaware Business Court Insider

Recent Complaint Unsuccessfully Challenged 'Standard Plain Vanilla' Rights Plan

In Building Trades Pension Fund of Western Pennsylvania v. Desktop Metal, a stockholder plaintiff brought derivative claims against Desktop Metal, Inc., alleging that a provision of the company's rights plan, which was adopted in connection with a proposed merger transaction, impermissibly chilled the free exercise of stockholder voting with respect to the merger agreement at an upcoming stockholder meeting.
6 minute read

National Law Journal

Inside the 'Murder Board': How Big Law Prepares CEOs for Congressional Hearings

Simulated hearings are common at a small cadre of Big Law firms, including Wilmer, Hogan Lovells, Covington, Akin and Gibson Dunn.
6 minute read

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