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Connecticut Supreme Court Defines Bankruptcy Effect on Contracts
January 01, 2018
Bankruptcy “does not constitute a per se breach of contract and does not excuse performance by the other party in the absence of some further indication that the [debtor] either cannot, or does not, intend to perform,” held the Supreme Court of Connecticut in a lengthy opinion on Nov. 21, 2017. This article presents an analysis of the ruling.
Third Circuit's Paid Breaks Ruling a Bright Line, But Not an Open Door
January 01, 2018
A federal appeals court offered a clear rule earlier in 2017, in holding that employees must be paid for breaks lasting 20 minutes or less, but private suits on that issue have been few, and appear poised to remain so, practitioners say.
Surviving the Retail Shift
January 01, 2018
<b><i>Looking Ahead: Lessons Learned.</i></b><p><i><b>Part Five of a Five-Part Series.</i></b><p>As Mark Twain quipped, "The reports of my death are greatly exaggerated." So too is the reported retail "apocalypse" and "death" of the shopping center. In fact, U.S. retailers opened 1,326 more locations in 2017 than they closed. When restaurants are added to the mix, there were a total of 4,080 new openings in 2017 and another 5,050 openings planned this year.
Development
January 01, 2018
Analysis of a case in which a moratorium was invalidated.
DE Courts Uphold Strict Limitations on Liability for Oversight Claims
January 01, 2018
In 2017, two cases illustrated that Delaware courts continue to impose exacting pleading burdens on <i>Caremark</i> claims, especially when plaintiffs say that they are excused from making a demand on the board before suing derivatively.
<i>Online Extra:</i><br>Social Media: Questions of Admissibility And Ethics
January 01, 2018
Social media evidence can be acquired both informally — through an attorney's own investigation or from the client — or more formally through the use of discovery and the rules of discovery. While each gives rise to practical and ethical issues, this section will focus on informal methods of acquisition.
In the Courts
January 01, 2018
Analysis of a case involving an embezzling attorney.
Genetic Labeling: Legal Uncertainty for Pharma Product Liability
January 01, 2018
The FDA's recent approval of 23andMe's direct-to-consumer genetic test to identify genes associated with 10 common diseases and disorders could result in a widespread expansion of patients armed with individualized health information. This expansion of genetic information in the hands of consumers potentially impacts regulatory and litigation issues for pharmaceutical companies.
Do Mergers Increase Profitability?
January 01, 2018
<b><i>The Numbers Say Yes, But Not for the Reasons Many May Think</b></i><p>Conventional wisdom has it that mergers enhance profitability through increased revenues and reduced costs. However, the numbers contradict this view: post-merger revenues are lower relative to competitor firms than are the sum of the predecessor firms' revenues, and costs per lawyer increase markedly.
Supreme Court Considers Sports Betting Law
January 01, 2018
The U.S. Supreme Court seemed ready to strike down — though not by a unanimous vote — the federal law that bans most states from licensing sports betting.

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  • Private Equity Valuation: A Significant Decision
    Insiders (and others) in the private equity business are accustomed to seeing a good deal of discussion ' academic and trade ' on the question of the appropriate methods of valuing private equity positions and securities which are otherwise illiquid. An interesting recent decision in the Southern District has been brought to our attention. The case is <i>In Re Allied Capital Corp.</i>, CCH Fed. SEC L. Rep. 92411 (US DC, S.D.N.Y., Apr. 25, 2003). Judge Lynch's decision is well written, the Judge reviewing a motion to dismiss by a business development company, Allied Capital, against a strike suit claiming that Allied's method of valuing its portfolio failed adequately to account for i) conditions at the companies themselves and ii) market conditions. The complaint appears to be, as is often the case, slap dash, content to point out that Allied revalued some of its positions, marking them down for a variety of reasons, and the stock price went down - all this, in the view of plaintiff's counsel, amounting to violations of Rule 10b-5.
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