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Delaware Supreme Court Endorses Exclusive Federal Forum Charter Provisions for Federal Securities Act Claims

USA - March 23 2020 On March 17, 2020, the Delaware Supreme Court ruled that federal forum selection clauses in corporate charters and by-laws for claims under the…

Bill Sushon, Matthew W. Close, Shelly Heyduk.

US Supreme Court Grants Certiorari to Resolve Circuit Split on Scienter Requirement for § 14(e) Claims Regarding Tender Offers

USA - January 16 2019 On April 20, 2018, the Ninth Circuit in Varjabedian v. Emulex, 888 F.3d 399 (2018), held that plaintiffs seeking to recover under § 14(e) of the…

Anton Metlitsky, Edward Moss, William K. Pao, Yaira Dubin.

Delaware Supreme Court Upholds Rare Ruling That Material Adverse Event Allowed Purchaser to Negate Merger

USA - December 20 2018 On December 7, 2018, the Delaware Supreme Court upheld Delaware Chancery Court Vice Chancellor Travis Laster’s rare finding in Akorn, Inc. v…

David Schultz, Edward Moss, Patrick D. McKegney, Sherri Snelson, Valerie Cohen.

California Court Interprets “Affecting a Financial Institution” for FIRREA Purposes “Broadly”

USA - July 9 2018 On July 2, 2018, a federal district court in California held that the alleged misconduct of a former bank employee “affected” the bank for purposes…

Ben Singer, Howard E. Heiss.

Ninth Circuit Creates Circuit Split by Holding that Plaintiffs Asserting Section 14(e) Claims for Material Misstatements or Omissions in Tender Offer Documents Need Plead Only Negligence, Not Intent to Defraud

USA - April 24 2018 On April 20, 2018, the Ninth Circuit in Varjabedian v. Emulex, No. 16-55088 (9th Cir. Apr. 20, 2018), split from five of its sister circuits, holding…

Anton Metlitsky, Edward Moss, John Brent Hill, William K. Pao.