Page 4 - Under Delaware News Today

Corporate boards are subject to a duty of oversight, as part of their duty of loyalty to their company.  As outlined by Delaware’s famously stringent Caremark standard, pleading a...

Those with ownership stakes in privately held businesses, partnerships, or family offices need to closely collaborate with and trust others. When disagreements and disputes over rights and responsibilities arise, individual emotions and personalities can complicate matters.

Wednesday, June 23, 2021 During a recent discussion hosted virtually by Mintz, corporate attorney and former CEO Benjamin Stone invited Professor Christopher Marquis of the Cornell University SC Johnson College of Business to discuss his new book,  Better Business: How the B Corp Movement Is Remaking Capitalism, and provide an overview of the emerging concepts and trends that are rapidly reshaping the social innovation landscape. Drawing upon professional experience and academic rese...

Under Delaware law, limited liability company agreements are interpreted like other contracts; they are read as a whole in light of the commercial context, in a manner that gives effect to and harmonizes all of their terms. In this expedited control dispute, the Court of Chancery applied those canons to consider whether certain of the plaintiff’s purchases of units from other members complied with transfer restrictions. Specifically, under the LLC operating agreement for an ethanol and biodie...

To embed, copy and paste the code into your website or blog: This case arises from an insurance coverage dispute between an insured and multiple insurance providers in a policy tower for defense fees and settlement costs from two securities class action lawsuits. In the Complex Commercial Litigation Division of the Superior Court, the insurers argued that they were not obligated to reimburse losses arising from the two securities lawsuits because of, inter alia, an exclusion regarding the “r...

Tuesday, February 9, 2021 In  Juul Labs, Inc. v. Daniel Grove, C.A. No. 2020-0005-JTL (Del. Ch. August 13, 2020), defendant and e-cigarette maker Juul Labs, Inc. (“Juul”) is a privately held Delaware corporation with its principal place of business in California. The Delaware Court of Chancery (the “Court”) granted in part Juul’s motion for declaratory judgment, which sought confirmation that a stockholder seeking inspection rights was limited to rights and remedies under t...

By Memorandum Order and Amended Judgment by The Honorable Maryellen Noreika in Cignex Datamatics, Inc. v. Lam Research Corporation, Civil Action No. 17-320-MN (D.Del. January 21, 2021), the Court granted with modification Plaintiff’s motion to alter or amend the judgment by adding to the original judgment of $232,039.71 in favor of Plaintiff in the breach of contract action (1) an additional amount of pre-judgment interest in the amount of $60,564.56, calculated as simple interest based on t...

A Delaware state court struck down as unconstitutional a longstanding policy of the state’s taxing authority limiting NOL deductions of corporate taxpayers who file federal consolidated...

Barnhill Receives Requisite Number of Written Consents to Refresh TESSCO Board and Amend Bylaws Dec 18, 2020 1:06 PM ET Legal Newswire POWERED BY LAW.COM Robert B. Barnhill, Jr. (together with the other participants of the consent solicitation, the "Barnhill Participants"), one of the largest stockholders of TESSCO Technologies Incorporated, delivered written consents to the Company on December 11, 2020 from the holders of at least 67% of the Companys outstanding common stock to remove Jo...