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Results: 1-10 of 373

Delaware Supreme Court interprets contractual fiduciary duties of LLC manager as requiring entire fairness review

  • Paul, Weiss, Rifkind, Wharton & Garrison LLP
  • -
  • USA
  • -
  • November 9 2012

In Gatz Properties, LLC v. Auriga Capital Corp., the Delaware Supreme Court affirmed the Court of Chancery's decision that a limited liability company's controlling member-manager breached his contracted-for fiduciary duties when he refused to negotiate with a third party bidder and caused the company to sell itself to him at an unfair price via a faulty auction process

Third quarter 2012 U.S. legal and regulatory developments

  • Paul, Weiss, Rifkind, Wharton & Garrison LLP
  • -
  • USA
  • -
  • October 16 2012

As required by the Dodd-Frank Act and related SEC rules, both the NYSE and Nasdaq have issued their proposed rule amendments related to compensation committee independence and responsibilities

Supreme Court rejects appeal of law granting telecom firms immunity from electronic surveillance claims

  • Paul, Weiss, Rifkind, Wharton & Garrison LLP
  • -
  • USA
  • -
  • October 12 2012

On Tuesday, the Supreme Court allowed to stand a 2008 law that grants the U.S. Attorney General the power to grant retroactive immunity to telecom carriers that cooperate with federal intelligence agencies in conducting electronic surveillance

Effectuation or alteration? Court of Chancery finds preferred stock did not have separate vote on automatic conversion eliminating the series

  • Paul, Weiss, Rifkind, Wharton & Garrison LLP
  • -
  • USA
  • -
  • October 3 2012

A recent Delaware Court of Chancery case, Greenmont Capital Partners I, LP v. Mary’s Gone Crackers, Inc., C.A. No. 7265-VCP (Del. Ch. Sept. 28, 2012), again highlights the contractual nature of preferred stock rights and that, when reviewing whether corporate actions may conflict with any of those rights, the court will generally uphold the independent legal significance of each action taken as it occurs, rather than looking at the ultimate consequence of multiple related corporate actions

Appellate panel questions verizon on data roaming requirement

  • Paul, Weiss, Rifkind, Wharton & Garrison LLP
  • -
  • USA
  • -
  • September 28 2012

During oral arguments on an appeal brought by Verizon Wireless, members of the D.C. Circuit Court appeared to sympathize with the FCC’s claim that the Commission acted within its authority in adopting data roaming rules, as they voiced doubts about Verizon’s contention that the FCC’s order improperly subjects mobile operators to common carrier regulation

FCC defends open Internet rules in appellate court brief

  • Paul, Weiss, Rifkind, Wharton & Garrison LLP
  • -
  • USA
  • -
  • September 14 2012

In a brief filed with the D.C. Circuit court on Monday, the FCC defended its 2010 open Internet order, arguing that the net neutrality rules adopted in that order correspond with the FCC’s directive in Section 706 of the Communications Act to “encourage the deployment on a reasonable and timely basis of advanced telecommunications capability to all Americans.”

Appeals court remands San Francisco ordinance on cell phone labeling

  • Paul, Weiss, Rifkind, Wharton & Garrison LLP
  • -
  • USA
  • -
  • September 14 2012

Wireless association CTIA was handed a legal victory on Tuesday by the Ninth Circuit Court of Appeals, which remanded a district court ruling that permitted the City of San Francisco to revise and enforce an ordinance that requires cell phone retailers to include labels on handsets specifying the level of radio frequency (RF) emissions

Second Circuit issues new opinion regarding class action standing and damages under the Securities Act

  • Paul, Weiss, Rifkind, Wharton & Garrison LLP
  • -
  • USA
  • -
  • September 11 2012

On September 6, 2012, the United States Court of Appeals for the Second Circuit issued an important decision in NECA-IBEW Health & Welfare Fund v. Goldman Sachs & Co., 11-02762-cv (Sept 6, 2012) (“NECA-IBEW”), vacating in part the dismissal of a putative class action brought under 11, 12(a)(2) and 15 of the Securities Act by an RMBS purchaser

Tokyo court rules in Samsung's favor in Apple patent dispute

  • Paul, Weiss, Rifkind, Wharton & Garrison LLP
  • -
  • Japan
  • -
  • September 7 2012

One week after a California jury found Samsung liable for $1 billion in damages for alleged infringement of smart phone patents held by Apple, Inc., the Korean handset manufacturer scored a legal victory as a Japanese court rejected various patent claims that Apple had made against Samsung in that country

Second Circuit holds that Christian Louboutin’s use of a red sole on women’s footwear is eligible for trademark protection

  • Paul, Weiss, Rifkind, Wharton & Garrison LLP
  • -
  • USA
  • -
  • September 5 2012

On September 5, 2012, the United States Court of Appeals for the Second Circuit issued an important decision in Christian Louboutin S.A. v. Yves Saint Laurent America, Inc., No. 11-3303-cv (2d Cir. Sep. 5, 2012), holding that a single color may serve as a legally protected trademark in the fashion industry and, in particular, as the mark for a particular style of high fashion women’s footwear

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