A Delaware vice chancellor released what could become a landmark ruling on liquidating or rehabilitating struggling insurance companies, yet another call surfaced for greater clarity on the detail required for the increasingly common books and records suits, and three law firms got a rare hat tip from the bench for going the extra mile. Here's your weekly roundup from Delaware's Chancery Court.
A Delaware vice chancellor on Monday tossed a derivative stockholder suit filed against Camping World Holdings Inc. directors that alleged $530 million of insider trading, saying the stockholders didn't show that they shouldn't have first demanded that the company's board pursue litigation.
Shareholders of Block Inc., the financial technology company formerly known as Square Inc., sued its CEO and founder Jack Dorsey on Wednesday over Square's multimillion-dollar acquisition of music streaming company Tidal, alleging that it was an unfair deal driven by Dorsey's friendship with recording artist Shawn "Jay-Z" Carter.
A group of policyholders who allege that Genworth Financial Inc. sabotaged the value of their long-term care policies through fraudulent asset transfers has asked the insurance company to set aside $1.55 billion for damages they are seeking in a Delaware Chancery Court class action.
A recent ruling from a Delaware bankruptcy judge that eliminated a debtor's near $100,000 student loan debt has energized consumer bankruptcy attorneys who say it pulls a harshly interpreted standard for "undue hardship" back to its origins and could pave the way for wider student debt relief.