Delaware was #1 in the first Lawsuit Climate Survey: Ranking the States in 2002 and has been #1 in every one of the 9 updates. It is in the top five rankings for all of the elements evaluated in the survey, sitting first in six of the ten key elements categories.
The Associated Press this weekend spotlighted the "increasingly aggressive" tactics of state governments to track down unclaimed property. Thanks to these aggressive tactics, a startup by two medical researchers who developed a Hepatitis B treatment was forced to sue the state of Delaware when the state aggressively took control of $1.7 million of the company's stock. The company took a big loss in the process. (Associated Press) Read More »
In rejecting the settlement of a shareholder lawsuit against Hewletter-Packard Co., a Delaware judge said "the welter of litigation challenging corporate mergers has become a systemic problem." (Wall Street Journal) Read More »
"After looking at the merits of civil justice issues in all states, Florida was ranked 44. Unfortunately, that's a decline," said Florida Justice Reform Institute's William Large, commenting in a story about ILR's 2015 Lawsuit Climate Survey. (WJNO Radio-Palm Beach, FL) Read More »
Business Insurance highlights recent Delaware legislation prohibiting corporate "fee shifting" bylaws and the impact in "addressing the rising costs of litigation associated with merger and acquisition activity." Read More »
There is growing "resistance" among Delaware Chancery Court judges to "M&A settlements in which plaintiffs grant defendants broad releases of shareholder claims in exchange for just additional disclosures in deal proxy materials." Last week, Delaware Vice-Chancellors John Noble and Travis Laster both refused to approve disclosure-only settlements, and a Fordham law professor recently filed an objection to the settlement of shareholder litigation over Thoma Bravo's $3.6 billion acquisition of Riverbed Technologies to "provoke debate" on this disclosure-only settlements. (Reuters) Read More »
Delaware Vice Chancellor Sam Glasscock dismissed a shareholder lawsuit against General Motors Co. over last year's ignition switch recalls, signaling a positive outlook for the company as it stares down hundreds more cases in connection with the recalls. Read More »
ILR President Lisa A. Rickard was quoted on Delaware's recent passage of a law banning fee-shifting corporate bylaws but permitting forum selection, a provision some say ensures the state's ability to filter out meritless lawsuits. "The business world will be watching carefully to see if that promise holds true," she said. (Insurance Journal) Read More »