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4 Oct 2021, 2:32 pm
With the SEC’s attention towards boardroom oversight of cybersecurity risk, C-suite executives and their legal counsel should be well versed in the following three guidelines given the dearth of regulatory oversight: first, the 2011 Staff SEC Cybersecurity Guidance; second, the 2018 full SEC Commission Cybersecurity Guidance; and third, Delaware jurisprudence on good faith. [read post]
4 Oct 2021, 12:38 pm
Luckily, select states offer no income tax or significantly lower income tax levels, including Florida, Wyoming, and Delaware. [read post]
4 Oct 2021, 12:11 pm
In September, over 100 law student interns, faculty, and advocates from all over the country gathered to attend the second annual boot camp for clinics serving veterans, hosted by the National Law School Veterans Clinic Consortium (NLSVCC). [read post]
4 Oct 2021, 6:33 am
By Joanne Cursinella, J.D.The Delaware Supreme Court adopted a chancery court standard establishing a new three-part test as the universal test for assessing whether demand should be excused as futile, finding as a result that demand was not excused on Facebook’s board in connection with an allegation of bias in the approval of a stock reclassification plan (United Food and Commercial Workers Union and Participating Food Industry Employers Tri-State Pension Fund v. [read post]
4 Oct 2021, 3:00 am
This Sidley memo explores some of the issues associated with the rise of “fraud on the board” claims in Delaware, including the potential culpability of the defrauded directors. [read post]
3 Oct 2021, 11:43 am
Two examples of this type of lawsuit were filed last week in the Delaware Court of Chancery. [read post]
2 Oct 2021, 5:19 pm
(“dmarcian”) was incorporated in Delaware in 2014, and, in 2017, registered with the California Secretary of State as a foreign corporation with its “principal executive office” in Burlingame, California. [read post]
2 Oct 2021, 2:33 pm
The "bad" states are West Virginia 11.1 Idaho 10 Alabama 9.1 Guam 8.5 South Carolina 8.4 Georgia 7.2 Wyoming 7.1 Montana 6.7 Texas 6.3 Alaska 5.9 Oklahoma 5.8 Tennessee 5.6 Louisiana 5.3 Arkansas 5.2 Nevada 4.9 North Carolina 4.7 Arizona 4.2 Connecticut 4.2 Kentucky 4 Ohio 3.9 Washington 3.6 Virginia 3.4 Oregon 3.2 Other states: Mississippi 3.1 Missouri 3.1 Hawaii 3 Kansas 3 Pennsylvania 2.9 Iowa 2.6 Indiana 2.4 New Mexico 2.3 South Dakota 2.3 Utah 2.3 Illinois 2.2 North Dakota 2.2… [read post]
2 Oct 2021, 6:58 am
The Delaware Court of Chancery’s recent decision in Yatra Online v. [read post]
1 Oct 2021, 5:15 pm
Zuckerberg, which set out Delaware's new-is demand futility standard. [read post]
1 Oct 2021, 3:18 pm
: This time in Delaware. [read post]
1 Oct 2021, 2:28 pm
Posted: October 1, 2021 2:55 PM ET In terms of Covid case rate: 7 DAY CASE RATE PER 100,000 220.7 Raw numbers, not normalized to 100,000 but per last seven days Texas 72,946 Ohio 40,697 Florida 37,706 North Carolina 32,316 Pennsylvania 32,185 California 29,175 Georgia 25,480 Michigan 25,156 Tennessee 24,590 New York* 23,975 Washington 20,259 Wisconsin 19,595 Virginia 19,463 Illinois 18,683 Indiana 18,100 South Carolina 17,794 Arizona 17,707 Minnesota 16,774 Kentucky 16,298 New Jersey 12,951 Missouri… [read post]
1 Oct 2021, 12:26 pm
The recent Delaware Court of Chancery decision in BGC Partners, Inc. [read post]
1 Oct 2021, 10:38 am
By reaffirming the primacy of the Tooley test, the Delaware Supreme Court will ensure that, unless a stockholder plaintiff can meet the heightened pleading standards necessary to assert derivative claims under Delaware law, the boards of directors of Delaware corporations remain in control of claims for wrongful equity dilution. [read post]
1 Oct 2021, 5:54 am
McLeod, and Anitha Reddy, Wachtell, Lipton, Rosen & Katz, on Tuesday, September 28, 2021 Tags: Boards of Directors, Delaware cases, Delaware law, Derivative suits, Dual-class stock, Facebook, Securities litigation, Shareholder suits Remarks by Commissioner Peirce Before the Small Business Capital Formation Advisory Committee Posted by Hester M. [read post]
30 Sep 2021, 5:10 pm
The Delaware District Court considered the overlap between OTDP and obviousness in In re Sitagliptin Phosphate (‘708 & ‘921) Patent Litigation. [read post]
30 Sep 2021, 1:43 pm
The plaintiff was a Pennsylvania-based entity incorporated in Delaware. [read post]
30 Sep 2021, 8:43 am
A very recent military leave ruling by the Third Circuit Court of Appeals (whose rulings directly control federal lawsuits in New Jersey, Pennsylvania, and Delaware), represents a significant victory for all uniformed service members in New Jersey. [read post]
29 Sep 2021, 7:47 pm
One explanation for this trend is the recent Delaware Supreme Court decision Salzberg v. [read post]
29 Sep 2021, 12:18 pm
Indeed, in Delaware, which still maintains a sharp law/equity distinction, the Court of Chancery held that Delaware's chancery courts generally lack jurisdiction over libel cases in the first instance, but expressly left open the possibility that, once the law court concludes—after a jury trial, if the parties opt for it—that a statement is libelous, an injunction could then be issued. [read post]
