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Delaware Business Court Insider

Delaware Court Again Strikes Down Restrictive Covenant in the Sale of Business

The Delaware Court of Chancery again declined to blue-pencil the restrictive covenant sending a clear reminder to buyers that they must narrowly tailor noncompete and nonsolicitation provisions in purchase agreements and related sale documentation under Delaware law.
5 minute read

New York Law Journal

Prior or Pending Litigation Exclusion Bars Coverage for Natural Resource Damages Claim

In the case of prior or pending litigation exclusions, the policyholder-insurer dispute is typically over whether a later filed claim arises out of the same subject matter or alleged activities as a prior or pending litigation.
7 minute read

The American Lawyer

Strength in Disputes, Middle-Market M&A Helped Bryan Cave Leighton Paisner Offset Russia Losses

The global law firm finished 2022 down 3.8% on gross revenue and 12.8% on profits per equity partner after separating from 17 partners and more than 200 personnel in Russia.
4 minute read

Delaware Business Court Insider

Recent Decisions Further Define Treatment of SPACs in Delaware

The Delaware Court of Chancery recently issued two decisions addressing claims arising out of so-called "de-SPAC" mergers. Each decision is quickly becoming required reading for SPAC sponsors, boards and transactional planners.
7 minute read

New York Law Journal

Accrual Principles for Breach of Fiduciary Duty in Delaware

In a recent decision by Vice Chancellor J. Travis Laster of the Delaware Court of Chancery, the former is called the "Red-Flags Theory" of liability, as set forth in In re Caremark International Derivative Litigation, 698 A.2d 959 (Del. Ch. 1996), while the latter is called the "Massey Theory" of In re Massey Energy, 2011 WL 2176479 (Del. Ch. May 31, 2011
7 minute read

Delaware Business Court Insider

Court of Chancery Denies Bid to Make Records of Arbitration Materials Presumptively Confidential Under Rule 5.1

A recent case, Soligenix v. Emergent Product Development Gaithersburg, called upon the Court of Chancery to answer the related questions of whether arbitration materials automatically qualify for confidential treatment under Court of Chancery Rule 5.1.
6 minute read

The Legal Intelligencer

Breaking Down the Updates to Pennsylvania's Associations Code

Through this legislation, the "Associations Code"—Title 15 of the Pennsylvania Consolidated Statues—was updated to account for certain changes in connection therewith. The most notable is the annual reporting requirements for certain entities, which we will break down here, along with other major changes.
4 minute read

The American Lawyer

Following a Record Year in 2021, Cadwalader Sees Double-Digit Declines as Market Cools

Gross revenue fell 10.5% in 2022 after rising 34.5% in 2021 as demand for structured products work plummeted in the second half of the year.
4 minute read

Delaware Business Court Insider

Court Issues Reminder of Potentially Harsh Consequences for Failure to Preserve Evidence in Anticipation of Litigation

Chancellor Kathaleen St. Jude McCormick, sitting by designation on the Delaware Superior Court, recently issued an opinion that should serve as a reminder of the harsh consequences that a party may suffer if it fails to properly preserve evidence in the lead-up to litigation.
9 minute read

The American Lawyer

Boosting Head Count and Profitability, O'Melveny & Myers Became a $1 Billion Firm in 2022

The global law firm increased gross revenue by 12.4% and head count by 10.7% without reducing RPL or PEP.
6 minute read

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