by The Delaware Counsel Group, LLC | Jul 31, 2012 | Law Updates, LU12
Document: Keyser v. Curtis, C.A. No. 7109-VCN (Del. Ch. July 31, 2012) The Delaware Court of Chancery held invalid the creation and issuance of super-voting preferred stock by the sole director of Ark Financial Services, Inc. (“Ark”), an affiliate of...
by The Delaware Counsel Group, LLC | Jul 27, 2012 | Law Updates, LU12
Document: Tang Capital Partners, LP v. Norton, C.A. No. 7476-VCG (Del. Ch. July 27, 2012) The Delaware Court of Chancery held that a creditor could contractually waive its statutory right to bring an action for the appointment of a receiver under Section 291 of the...
by The Delaware Counsel Group, LLC | Jul 18, 2012 | Law Updates, LU12
Document: In re Appraisal of The Orchard Enterprises, Inc., C.A. No. 5713-CS (Del. Ch. July 18, 2012) The Delaware Court of Chancery rejected respondent’s argument that the value of the liquidation preference of its preferred stockholders should be deducted from...
by The Delaware Counsel Group, LLC | Jun 25, 2012 | Law Updates, LU12
On June 25, 2012, the Governor of the State of Delaware signed a bill into law that will make a number of amendments to the General Corporation Law of the State of Delaware (the “DGCL”) effective August 1, 2012. The amendments will enhance the...
by The Delaware Counsel Group, LLC | Jun 11, 2012 | Law Updates, LU12
Document: Louisiana Municipal Police Retirement Sys., et al. v. Pyott, et al., C.A. No. 5795-VCL (Del. Ch. June 11, 2012) The Delaware Court of Chancery found that plaintiffs’ allegations that the board of directors of Allergan, Inc. (“Allergan”)...
by The Delaware Counsel Group, LLC | Jun 7, 2012 | Law Updates, LU12
Document: Pryor v. IAC/InterActiveCorp, C.A. No. 6884-CS (Del. Ch. June 7, 2012) The Delaware Court of Chancery held that the delivery of notice of an arbitral award to a person appointed as a stockholder representative under a stockholders’ agreement was...
