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ArentFox Schiff

Court Upholds Gilks’ Trade Secrets in Fly Boatworks Dispute

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This case is an important reminder that in trade secrets litigation, the specific business context is critically important and may be outcome determinative. Here, a closely held business was held to a much more lenient...more

Goodwin

In Management Equity Repurchases, Who Determines Fair Market Value?

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A majority of private equity firms prefer for their boards to value departing management’s equity, but approaches vary based on the applicable circumstances. When management equity holders leave a private equity-backed...more

Foley Hoag LLP

Choosing your State of Incorporation

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In the wake of headline-grabbing redomiciles many executives are reevaluating whether to form or maintain their companies in Delaware or to look instead to other jurisdictions such as Nevada and Texas. In this piece, we break...more

Morris James LLP

Chancery Upholds Expulsion of LLC Investor, Awards Fees and Expenses Caused by Breach

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PJT Holdings, LLC v. Costanzo, C.A. No. 2023-0665-JTL (Del. Ch. May 15, 2025) - In anticipation of launching a chain of restaurants, three restaurant operators joined an outside investor to form a four-member,...more

Wiley Rein LLP

Coverage Barred by Prior Acts Exclusion Under First Policy; No Coverage Under Second Policy Because Defendant did not Qualify as...

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The United States District Court for the District of New Mexico, applying New Mexico law, has held that a prior acts exclusion in a directors and officers policy barred coverage for an investor lawsuit alleging a scheme to...more

Cadwalader, Wickersham & Taft LLP

Court of Appeals Upholds Contract Merger Clause

In Behler v. Kai-Shing Tao, the New York Court of Appeals found that the merger clause contained in a limited liability company agreement governed by Delaware law superseded an alleged prior oral agreement between the...more

Wiley Rein LLP

Prior Demand for Books and Records Unrelated to Subsequent Arbitration Brought by Same Claimants

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Applying Illinois state law, the Appellate Court of Illinois has held that two lawsuits against insureds did not allege Related Wrongful Acts sufficient to render the two lawsuits a single, related claim under the D&O...more

Bradley Arant Boult Cummings LLP

Federal Appeals Court: Pay That Man His Money, Unless That Money Is Illegal Marijuana Money

Good news, bad news if you’re a cannabis operator that owes money to a creditor. But probably bad news for the rule of law. A federal appellate court has ruled that a cannabis operator is obligated to repay his debts to...more

Bradley Arant Boult Cummings LLP

My Partner Just Sued Me: Strategies Majority Owners Should Consider in Defending Claims Filed by Private Company Investors

Conflicts between co-owners in private companies are common, but the vast majority are worked out through dialogue and negotiation. When these internal conflicts cannot be resolved, however, minority investors may file suit...more

Foley & Lardner LLP

Private Company Compliance: Investigations, Regulations, and Litigation

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We recently co-hosted an NACD “Private Company Compliance” webinar on the issues that directors of private companies should care about. In this episode, we focused on the increasing importance of supervising the...more

Conyers

B2B, B2C, BVI – Crypto Disputes in the Caribbean

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In the crypto world, does it really matter where you are? Is there a sunny offshore paradise perspective on the click of a button and a fintech trade? The answer lies as usual in how to unravel a problem should it arise. Both...more

A&O Shearman

Conversion of shares, variation of class rights and interpretation of articles of association the Court of Appeal decision in the...

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The Court of Appeal has upheld a High Court decision regarding the interplay between potentially conflicting provisions in a company’s articles of association. The provisions in question related to the conversion of shares...more

Snell & Wilmer

Board Diversity Initiatives Falter in the Courts but Investor Interest Is Likely to Remain Strong

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Last year, Superior Courts in Los Angeles County invalidated two California statutes requiring specific diversity mandates for California public company boards (Senate Bill 826 “SB 826” and Assembly Bill 979 “AB 979”). The...more

Skadden, Arps, Slate, Meagher & Flom LLP

Court Finds Mindbody CEO Liable Under Revlon and That Buyer Aided and Abetted Disclosure Violations

In March 2023, the Delaware Court of Chancery issued a rare decision holding an officer personally liable for damages for breach of fiduciary duty under a post-closing Revlon enhanced scrutiny analysis. Specifically, the...more

Troutman Pepper Locke

Preserving the Corporate Attorney-Client Privilege as Against Investors

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In Hyde Park Venture Partners Fund III, L.P. v. FairXchange, LLC, the Delaware Court of Chancery provided a valuable reminder to corporations and their directors and officers that a corporation cannot assert a privilege, such...more

Bradley Arant Boult Cummings LLP

Has the Bloom Come Off the Rose? It May Be Time to Pull the Plug on Your Private Equity Investment

Private growth companies have ups and downs – only rocket ships tend to go straight up. Therefore, it can be difficult for an investor holding a minority stake in a private company to know whether a challenging time for the...more

Williams Mullen

[Webinar] Ideas for Businesses to Navigate Economic Uncertainty - October 25th, 8:30 am - 11:00 am ET

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...join us for Ideas for Businesses to Navigate Economic Uncertainty, a webinar comprised of brief - only 15 minutes each! - presentations tailored to meet the needs of senior executives and leaders of in-house legal...more

White & Case LLP

HP v Autonomy: The “fake it ‘till we make it” start-up culture on trial

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In its long-awaited judgment, the English High Court1 has found that the British software firm Autonomy defrauded the US tech giant Hewlett-Packard (HP) and induced its own acquisition for the price of US$11.1bn...more

McDermott Will & Schulte

The Significance of Recent Delaware Court of Chancery SPAC Opinions

Highlighted below are several recent opinions from the Delaware Court of Chancery relating to special purpose acquisition companies (SPACs) that provide helpful guidance to sponsors, investors and practitioners. These cases...more

Goodwin

Massachusetts Superior Court BLS Finds No Duty To Disclose Alleged Preliminary Merger Discussions

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Massachusetts Superior Court BLS Finds No Duty to Disclose Alleged Preliminary Merger Discussions, Northern District of California Declines to Dismiss Oracle Fraud Class Action Suit, SCOTUS Hears Oral Argument in Goldman...more

UB Greensfelder LLP

Lessons From the First Dismissal of a COVID-19 Related Securities Class Action Lawsuit

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Despite a general decline in filings of securities class action litigation in 2020, the economic fallout from the coronavirus pandemic has led to an uptick of securities fraud cases alleging failure to disclose risks of the...more

Porter Hedges LLP

Business Litigation Alert: "Know the Terms of the Investment Deal Before You Sign"

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Getting all the information upfront is critical - A recent article in The New York Times reveals a story that could happen to any business person. Chip Tate, the owner of the Balcones distillery, was experiencing...more

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