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  • Saba Capital CEF Opportunities 1 LLC v. Nuveen Floating Rate Income Fund

    Publication Date: 2023-12-08
    Practice Area: Securities Litigation
    Industry: Investments and Investment Advisory
    Court: U.S. Court of Appeals for the Second Circuit
    Judge: Circuit Judge Richard C. Wesley
    Attorneys: For plaintiff: For Plaintiffs-Appellees: Jacob W. Buchdahl, Susman Godfrey LLP, New York, NY, on the brief, Mark P. Musico, Susman Godfrey LLP, New York, NY.
    for defendant: For Defendants-Appellants Nuveen Floating Rate Income Fund, Nuveen Floating Rate Income Opportunity Fund, Nuveen Short Duration Credit Opportunities Fund, Nuveen Global High Income Fund, and Nuveen Senior Income Fund: Parker Rider-Longmaid, Kyser Blakely, Skadden, Arps, Slate, Meagher & Flom LLP, Washington, DC; Scott Musoff, Boris Bershteyn, Skadden, Arps, Slate, Meagher & Flom LLP, New York, NY; Eben Colby, Emily Jennings, Skadden, Arps, Slate, Meagher & Flom LLP, Boston, MA, on the Brief, Shay Dvoretzky, Skadden, Arps, Slate, Meagher & Flom LLP, Washington, DC. For Defendants-Appellants Terence J. Toth, Jack B. Evans, William C. Hunter, Albin F. Moschner, John K. Nelson, Judith M. Stockdale, Carole E. Stone, Margaret L. Wolff, Robert L. Young, and Matthew Thornton III, in their capacity as Trustees of the Nuveen Trusts: Robert A. Skinner, Douglas Hallward-Driemeier, Amy D. Roy, Ropes & Gray LLP, Boston, MA. For Amicus Curiae The Investment Company Institute in Support of Defendants-Appellants: Susan Olson, Dorothy Donohue, Kenneth Fang, The Investment Company Institute, Washington, DC; Steven A. Engel, David A. Kotler, Michael H. McGinley, Dechert LLP, New York, NY. For Amicus Curiae Bulldog Investors, LLP in Support of Plaintiffs-Appellees: Aaron T. Morris, Andrew W. Robertson, Morris Kandinov LLP, New York, NY.
    Case Number: 22-407

    Firm's Bylaws Amendment Violates ICA as Restriction on Shareholders, Not on Shares

  • November 22, 2023 | Delaware Business Court Insider

    Del. High Court Further Clarifies Standard for Confidentiality of Books and Records Produced Under DGCL Section 220

    In the Hauppauge Digital case, the court affirmed the Court of Chancery's discretion to reject the parties' proposed confidentiality restrictions, and held that the decision regarding confidentiality restrictions is "a context-driven balancing exercise, the result of which will not be disturbed on appeal unless clearly unreasonable or capricious."

    5 minute read

  • Appellate Division, First Department: September 25, 2023

    Publication Date: 2023-09-25
    Practice Area: Civil Appeals | Criminal Appeals
    Industry:
    Court: Appellate Division, Second Department, Appeals & Motions
    Judge: Unsigned
    Attorneys: For plaintiff:
    for defendant:
    Case Number: DOCKET

    Appeals & Motions List released on:September 21, 2023

  • September 19, 2023 | Insurance Coverage Law Center

    Recent Developments In D&O Claims

    This article summarizes many of the more important recent legal developments involving D&O claims. During these uncertain times, it is especially important for those who advise and insure directors and officers to carefully monitor and react to these and other developments.

    35 minute read

  • Horizon Servs., Inc. v. Henry

    Publication Date: 2023-09-18
    Practice Area: Labor Law
    Industry: Insurance
    Court: Delaware Supreme Court
    Judge: Justice LeGrow
    Attorneys: For plaintiff: H. Garrett Baker, Francis D. Nardo, Elzufon Austin & Mondell, P.A., Wilmington, DE for appellants.
    for defendant: Jonathan B. O’Neill, Amanda K. Dobies, Kimmel, Carter, Roman, Peltz & O’Neill, P.A., Christiana, DE; William A. Crawford, Franklin & Prokopik, Newark, DE for appellees.
    Case Number: N21C-10-044

    Employer and its workers' compensation insurer could assert a lien against compensation obtained from the employer's underinsured motorist coverage.

  • City of Newark v. Donald M. Durkin Contracting, Inc.

    Publication Date: 2023-09-11
    Practice Area: Contracts
    Industry: Construction | Legal Services | State and Local Government
    Court: Delaware Supreme Court
    Judge: Justice LeGrow
    Attorneys: For plaintiff: Max B. Walton, Shaun Michael Kelly, Erica K. Sefton, Connolly Gallagher LLP, Newark, DE for appellant.
    for defendant: Paul A. Logan, Post & Schell, P.C., Wilmington, DE for appellee.
    Case Number: N21C-12-039

    Although declaratory judgment action did not breach the parties' settlement, the fact that the action was related to litigation nonetheless triggered defendants' indemnification obligations under the settlement to reimburse plaintiff for its legal costs incurred in the action.

  • August 23, 2023 | Delaware Business Court Insider

    Court of Chancery Holds 'Corwin' Inapplicable to Claims Governed by 'Unocal' Standard

    In In re Edgio Stockholders Litigation, the Delaware Chancery Court was asked to apply the same cleansing effect to a claim for injunctive relief analyzed under Unocal, but Vice Chancellor Morgan Zurn found that Corwin was inapplicable.

    6 minute read

  • Coster v. UIP Co. Inc.

    Publication Date: 2023-07-10
    Practice Area: Corporate Governance
    Industry: Real Estate
    Court: Delaware Supreme Court
    Judge: Justice Seitz
    Attorneys: For plaintiff: Max B. Walton, Kyle Evans Gay, Connolly Gallagher LLP, Newark, DE; Michael K. Ross, Serine Consolino, Aegis Law Group LLP, Washington, DC for appellant.
    for defendant: Deborah B. Baum, Pillsbury Winthrop Shaw Pittman LLP, Washington, DC; Stephen B. Brauerman, Elizabeth A. Powers, Bayard, P.A., Wilmington, DE for appellees.
    Case Number: 163, 2022

    Stock issuance that diluted interest of stockholder with one-half interest who had filed a custodian action to break board election deadlock was not inequitable where issuance was reasonably calculated to prevent default under company's key contracts and had the benefit of retaining a key employee, while stockholder was not coerced as she retained a swing vote.

  • Total Energies EP USA v. MP Gulf of Mexico

    Publication Date: 2023-06-26
    Practice Area: Civil Appeals | Contractual Disputes | Dispute Resolution
    Industry:
    Court: Supreme Court
    Judge: Justice Boyd
    Attorneys: For plaintiff:
    for defendant:
    Case Number: 21-0028

    Respondent MP Gulf of Mexico, as two-thirds owner of some oil and gas leases called Chinook Unit made two contracts with petitioner Total Energies E&P USA, Inc. as one-third owner of the same unit.

  • June 22, 2023 | Delaware Law Weekly

    Meet the Judge and Lawyers in Hunter Biden's Federal Criminal Case in Delaware

    Biden's defense counsel Christopher Clark is no stranger to high profile litigation: he's defended both Elon Musk and Mark Cuban in SEC actions. His client is set to plead guilty in July.

    4 minute read