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SPAC Redemption Rights—Panacea Or Achilles Heel? Delaware Court Denies Defendants' Motion To Dismiss In MultiPlan Litigation - Corporate/Commercial Law

On January 3, 2022, the Delaware Chancery Court declined to dismiss breach of fiduciary duty claims in In re MultiPlan Stockholders Litigation against a SPAC sponsor and its board of directors in connection...
United States Cayman Islands Chancery Court Churchill Capital Corp Court Decision Transkaryotic Therapies Inc
Source: mondaq.com

California Lifts Suspension of the Use of NOLs

In June 2020, California lawmakers passed legislation that limited use of net operating losses (NOLs) for California taxpayers with net business income of $1 million or more for the tax years 2020, 2021, and 2022. In addition, the amount of business tax credits that could be used in a year to offset California tax was limited to $5 million for the same tax years. (See related Wilson Sonsini…
United States Greg Broome Wilson Sonsini Myra Sutanto Shen W Sgr Ilson Sonsini Goodrich Amp Rosati
Source: wsgr.com

Northern District Of Illinois Dismisses BIPA Suit Against Canadian App Maker For Lack Of Personal Jurisdiction - Privacy

The Illinois Biometric Information Privacy Act ("BIPA") provides a cause of action to a person who believes their biometric information is obtained or disclosed without an individual's consent.
United States Illinois Biometric Information Privacy Act Northern District Federal Rule Civil Procedure Northern District Of Illinois Dismisses Bipa Suit Against Canadian App Maker For Lack Personal Jurisdiction
Source: mondaq.com

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Court upholds sanction vs. law firm in State Street Bank class action

San Francisco’s Lieff, Cabraser, Heimann & Bernstein has hit a brick wall in its bid to set aside a sanction imposed by a federal judge in Boston who found that the law firm had misrepresented class counsel’s reasonable fee percentage from a $300 million settlement against State Street Bank. On Feb. 9, a panel of ...
United States Francisco Lieff Heimann Bernstein San Francisco State Street Attorneys 039 Fees

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