TD Ameritrade Investor Seeks Halt Of $26B Schwab Deal

Create: 2020-03-26
Update: 2020-03-26
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TD Ameritrade and its directors have been hit with an investor suit in Delaware federal court seeking to halt the brokerage’s $26 billion merger with Charles Schwab, with the suing shareholder asserting that not enough financial detail about the deal has been publicly disclosed.
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TOP NEWS

TD Ameritrade Investor Seeks Halt Of $26B Schwab Deal

TD Ameritrade and its directors have been hit with an investor suit in Delaware federal court seeking to halt the brokerage’s $26 billion merger with Charles Schwab, with the suing shareholder asserting that not enough financial detail about the deal has been publicly disclosed.

Complaint attached | Read full article »

Dura Medic Investors Sue Private Equity Buyer

Independent investors in medical equipment supply manager Dura Medic Inc. launched a derivative suit in Delaware Chancery Court on Tuesday, accusing an affiliate of Comvest Partners of putting the business into a nosedive in order to recoup most of the private equity firm's $30 million merger cost in 2018.

Read full article »

Fed. Circ. Trims Galderma's Patent Win Over Oracea Generic

The Federal Circuit on Wednesday upheld a Delaware federal judge's ruling that Amneal infringed three patents covering Galderma's flagship rosacea drug Oracea, but said the generic-drug company didn't infringe two others.

Opinion attached | Read full article »

Novartis Wants Lupin's Generic Heart Failure Drug Blocked

Novartis has again accused Lupin of infringing patents covering the chronic heart failure drug Entresto by requesting U.S. Food and Drug Administration approval for a generic version of the blockbuster medication.

Complaint attached | Read full article »

BANKRUPTCY COURT

Laminates Maker API Americas Gets Nod For $6M Ch. 11 Sale

A Delaware bankruptcy judge on Wednesday gave his nod to the $6 million Chapter 11 sale of some assets of API Americas Inc., a Kansas-based company that makes laminate and foil products.

2 documents attached | Read full article »

Alaska Oil Biz Seeks New Deal After Ch. 11 Sale Goes Cold

Furie Operating Alaska LLC told a Delaware bankruptcy judge Wednesday that the oil and gas company's planned foreclosure sale agreement collapsed last week, sending the debtor scrambling toward a different deal with two of its three term loan lender groups.

Read full article »

THIRD CIRCUIT

3rd Circ. Says Post-Gazette, Teamsters Had No Implied Deal

A Pennsylvania federal judge was wrong to make the Pittsburgh Post-Gazette rehire laid-off union delivery drivers because the newspaper's publisher had properly disavowed the terms of its now-expired contract and repudiated the existence of any "implied" continuations of that deal, a Third Circuit panel ruled Wednesday.

Opinion attached | Read full article »

3rd Circ. Doubts Trade Group's Stake In Mazda Program Fight

The Third Circuit seemed mystified Tuesday about why the New Jersey Coalition of Automotive Retailers would have standing to launch a suit alleging a Mazda Motor of America dealership incentive program violates the state’s franchise practices law, since the coalition's 500-strong membership includes only 16 Mazda dealerships.

Read full article »

DISTRICT COURT

Tieks Shoes Copycat Can't Slip $3M IP Trial Loss

A defunct shoemaking startup found to have ripped off the design of the Tieks shoe brand can't shake a jury's $2.95 million verdict, a Delaware federal judge held on Tuesday, who also awarded Tieks maker Gavrieli Brands attorney fees and nearly $200,000 in prejudgment interest.

Opinion attached | Read full article »

EXPERT ANALYSIS

COVID-19 As A Material Adverse Change In M&A Agreements

Whether the COVID-19 pandemic may constitute a material adverse change under existing M&A agreements, such that any party has a right to terminate the contract or not perform certain obligations, will depend on the specific wording of the provision at issue and the effects on the particular company, say attorneys at Fried Frank.

Read full article »

Stay Home Orders Unlikely To Trigger Civil Authority Coverage

As authorities order Americans to stay at home, insurers may see a surge in civil authority claims, but insureds will likely struggle to prove the property damage standard necessary to trigger such coverage, say Adam Fleischer and Michael Passman at BatesCarey.

Read full article »

10 E-Discovery Challenges Caused By COVID-19

The COVID-19 crisis will continue to affect e-discovery long after we overcome this pandemic. When litigation and investigations reengage and courts start moving their schedules forward, these concerns will need to be addressed, say David Kessler and Andrea D'Ambra at Norton Rose.

Read full article »

LEGAL INDUSTRY

Analysis

Legal Community Rallies To Soften The Blow Of COVID-19

Amid the rapidly evolving COVID-19 outbreak, the legal community has stepped up to lend financial support and services to colleagues, vulnerable populations, first responders and medical staff. Here, Law360 looks at some of the ways lawyers are helping others during the global crisis.

Read full article »

Q&A

Coping With A Pandemic: Google's Mary Shen O'Carroll

As self-isolation and social distancing become the norm during the COVID-19 pandemic, Law360 is sharing reactions from people around the business and legal community. Today's perspective comes from Mary Shen O'Carroll, director of legal operations at Google and president of the Corporate Legal Operations Consortium.

Read full article »

ABA Says Gov't Should Declare Legal Workforce 'Essential'

The president of the American Bar Association on Tuesday called for the federal government to deem legal services "essential," so that lawyers are exempt from local shelter-in-place rules that prohibit employees from leaving their homes for work in order to prevent the spread of the coronavirus.

Read full article »

COVID-19 Relief Bill Would Expand Remote Court Hearings

The U.S. Department of Justice would receive an extra $1 billion and the federal courts would get $7.5 million as well as provisions allowing video or teleconferencing in some criminal hearings as part of the massive coronavirus relief bill, according to a draft of the bipartisan deal reached early Wednesday.

Read full article »

Delaying Bar Exam Amid COVID-19 Is A Risky Move, Profs Say

With the coronavirus pandemic expected to disrupt the bar exam this summer, U.S. courts and regulators need to act fast to come up with a new way to license lawyers, and simply postponing the exam for later this year isn't going to cut it, according to a group of law professors.

Read full article »

What Texas Patent Attys Need To Know For Remote Practice

Texas patent judges are working to adapt their pre-coronavirus pandemic courtroom procedures for the virtual world, even if that means conducting hearings with the occasional dog barking in the background or an attorney presenting argument in front of a backdrop designed by their children. Here, they break down what's been working for them.

Read full article »

Virtual Arraignments Raise Real Concerns In NY Courtroom

New York criminal courts carried out the first virtual arraignments on Wednesday, an unprecedented step in response to the COVID-19 outbreak that was beset with delays and concerns over hard-to-see defendants and protective equipment for remaining courtroom staff.

Read full article »

Old-School Mass. Courts Ill-Equipped For Pandemic, Attys Say

As Massachusetts state courts grapple with shutdowns and cancellations amid the COVID-19 pandemic, a lack of widespread online filing and limited use of video and phone conferencing could make an already-backlogged docket even worse.

Read full article »

Miffed Client Alleges Malpractice By Pot-Smoking Attorneys

A man who hired a Southern California law firm to help him acquire a cannabis dispensary license slapped the firm with a legal malpractice suit in California state court Wednesday that claimed the attorneys smoked pot during business meetings and overcharged him for "untimely incompetent legal services."

Read full article »

Andrus Wagstaff 401(k) Participant Ends Nationwide Fee Suit

Nationwide Life Insurance and a former employee at mass tort firm Andrus Wagstaff PC have agreed to settle her 401(k) suit, six months after a federal judge rejected a bid to certify sweeping classes that would have covered thousands of retirement plans and plan sponsors, according to a Wednesday filing.

Read full article »

Law Firm Leaders: Herrick Feinstein's Irwin Kishner

Irwin Kishner has served as executive chairman for midsize New York law firm Herrick Feinstein LLP for the last 12 years. Here, Kishner chats with Law360 about his firm’s strategy and goals, and how it is responding to the spread of COVID-19.

Read full article »

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