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No Bad Faith Found In Tidal Streaming Service Investment
Block Inc.'s board may have made a bad deal when it acquired music-streaming company Tidal, but that's its right without evidence of bad faith, Delaware Chancery Chancellor Kathaleen McCormick decided. City of Coral Springs Police Officers' Pension Plan v. Dorsey, 2022-0091.
Chancellor McCormick's opinion dismissed derivative claims brought against Block and its board by the plaintiff shareholder, a pension fund for the city of Coral Springs, FL, which was represented by Saxena White. It's a win for the Richards, Layton & Finger and Gibson Dunn & Crutcher team that represented Block; founder, chairman and CEO Jack Dorsey, and 10 other board members.
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New York's Latest Cybersecurity Commitment
On Aug. 9, 2023, Gov. Kathy Hochul introduced New York's inaugural comprehensive cybersecurity strategy. In sum, the plan aims to update government networks, bolster county-level digital defenses, and regulate critical infrastructure.
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Bit Parts
Summary Judgment Denied Defendant in Declaratory Action by Producer of To Kill a Mockingbird Broadway Play Seeking Amateur Theatrical Rights
Risks of “Baseball Arbitration” in Resolving Real Estate Disputes
“Baseball arbitration” refers to the process used in Major League Baseball in which if an eligible player's representative and the club ownership cannot reach a compensation agreement through negotiation, each party enters a final submission and during a formal hearing each side — player and management — presents its case and then the designated panel of arbitrators chooses one of the salary bids with no other result being allowed. This method has become increasingly popular even beyond the sport of baseball.