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Court of Chancery Awards $690M+ in Damages Based on Controller's Reliance on Outside Counsel's "Contrived" Legal Opinion Boardwalk Pipeline

USA - November 18 2021 In Bandera Master Fund LP v. Boardwalk Pipeline Partners, LP (Nov. 12, 2021), the Delaware Court of Chancery ordered Loews Corporation to pay the…

Bret T. Chrisope, Andrew J. Colosimo, Steven Epstein, Christopher Ewan, Andrea Gede-Lange, David J. Greenwald, Erica Jaffe, Arthur Fleischer Jr., Randi Lally, Mark H. Lucas, Scott B. Luftglass, Brian T. Mangino, Shant P. Manoukian, Amber Meek, Philip Richter, Steven G. Scheinfeld, David L. Shaw, Matthew V. Soran, Steven J. Steinman, Roy Tannenbaum, Gail Weinstein, Warren S. de Wied, Maxwell Yim

Important Earnout/Milestone Drafting Points Arising from Recent Pacira and Shire Decisions

USA - November 8 2021 Earnout or milestone provisions in a merger agreement provide a framework for additional merger consideration to be paid, after the closing, if…

Bret T. Chrisope, Andrew J. Colosimo, Steven Epstein, Christopher Ewan, Andrea Gede-Lange, David J. Greenwald, Erica Jaffe, Randi Lally, Mark H. Lucas, Scott B. Luftglass, Brian T. Mangino, Shant P. Manoukian, Amber Meek, Philip Richter, Steven G. Scheinfeld, Robert C. Schwenkel, David L. Shaw, Matthew V. Soran, Steven J. Steinman, Roy Tannenbaum, Gail Weinstein, Warren S. de Wied, Maxwell Yim

Delaware Decision Highlights a Director May be Considered Non-Independent of a Controller Based on Having a Lower Income or Having Admired the Controller--BGC Partners

USA - October 7 2021 BGC Partners, Inc. Derivative Litigation (Sept. 20, 2021) involved a merger between entities that were controlled by the same person, Howard Lutnick…

Bret T. Chrisope, Andrew J. Colosimo, Steven Epstein, Christopher Ewan, Andrea Gede-Lange, David J. Greenwald, Erica Jaffe, Randi Lally, Mark H. Lucas, Scott B. Luftglass, Brian T. Mangino, Shant P. Manoukian, Amber Meek, Philip Richter, Steven G. Scheinfeld, Robert C. Schwenkel, David L. Shaw, Matthew V. Soran, Steven J. Steinman, Roy Tannenbaum, Gail Weinstein, Warren S. de Wied, Maxwell Yim

Boeing Decision Continues Delaware’s Recent Trend Rejecting Early Dismissal of Claims Against Directors for Inadequate Oversight of Critical Risks

USA - September 28 2021 The Boeing Company Derivative Litigation (Sept. 7, 2021) is another in a series of cases in recent years in which the Delaware Court of Chancery has…

Bret T. Chrisope, Andrew J. Colosimo, Steven Epstein, Christopher Ewan, Andrea Gede-Lange, David J. Greenwald, Erica Jaffe, Arthur Fleischer Jr., Randi Lally, Mark H. Lucas, Scott B. Luftglass, Brian T. Mangino, Shant P. Manoukian, Amber Meek, Philip Richter, Steven G. Scheinfeld, Robert C. Schwenkel, David L. Shaw, Matthew V. Soran, Steven J. Steinman, Roy Tannenbaum, Gail Weinstein, Warren S. de Wied, Maxwell Yim

Change in Approach by FTC Creates New Challenges for M&A Deals

USA - September 27 2021 In a memorandum issued to the Federal Trade Commission (FTC) staff last week, Lina Khan, the new Chair of the FTC, indicated that the agency's…

Nathaniel L. Asker, Tobias Caspary, Bret T. Chrisope, Andrew J. Colosimo, Steven Epstein, Christopher Ewan, Andrea Gede-Lange, David J. Greenwald, Erica Jaffe, Bernard (Barry) A. Nigro Jr., Arthur Fleischer Jr., Randi Lally, Aleksandr B. Livshits, Mark H. Lucas, Scott B. Luftglass, Brian T. Mangino, Shant P. Manoukian, Amber Meek, Philip Richter, Steven G. Scheinfeld, Robert C. Schwenkel, David L. Shaw, Matthew V. Soran, Steven J. Steinman, Roy Tannenbaum, Gail Weinstein, Warren S. de Wied, Maxwell Yim