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Delaware's chancellor approved on Tuesday an expedited but limited stockholder class probe into the pace of Sirius XM Holdings Inc. stock repurchases in support of a future minority squeeze-out by controlling investor Liberty Media Corp., with preliminary injunction arguments waiting in the wings. ....
Chancery Denies Fast-Track For Iconix Tender Offer Suit law360.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from law360.com Daily Mail and Mail on Sunday newspapers.
ADVERTISEMENT Gilead Must Foot $1.8M Bill For Egregious Litigation Conduct Law360 (July 22, 2021, 10:26 PM EDT) The Delaware chancellor on Thursday chastised Gilead Sciences Inc. for glaringly egregious litigation conduct, ordering the company to pay nearly $1.76 million in attorney fees for shareholders who battled Gilead s overly aggressive efforts to shut down investigations into its potential malfeasance regarding its AIDS drug development. Chancellor Kathaleen S. McCormick wrote in a letter that Gilead forced the five shareholders who were looking into Gilead s potentially problematic marketing and development of HIV drugs to litigate their records requests after refusing to produce a single document for any of them. The stockholders were after records they said were needed to investigate potential. ....
Chancellor McCormick Provides Helpful Guidance on Pre-Suit Litigation Demands Under Delaware Law | Wilson Sonsini Goodrich & Rosati jdsupra.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jdsupra.com Daily Mail and Mail on Sunday newspapers.
ADVERTISEMENT Stockholders Seek $900M MSG Merger Preliminary Injunction Law360 (July 1, 2021, 8:43 PM EDT) Attorneys for unaffiliated stockholders of Madison Square Garden (MSG) Entertainment and MSG Network urged Delaware s chancellor Thursday to issue a preliminary injunction to block an allegedly conflicted $900 million merger of the two, with different motivations but similar strategies. In both cases the stockholders told Chancellor Kathaleen S. McCormick that control of both companies by family members and interests of billionaire James L. Dolan triggered Delaware corporation law prohibitions against the tie-up without a super-majority vote of unaffiliated stockholders or a waiver of a three-year waiting period not present in the deal. ....