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Top News & Analysis Delaware

  • WILMINGTON, Del., Feb 9- Sears Holding Corp's chairman and chief executive, Eddie Lampert, and the company's board agreed to a $40 million settlement of a shareholder lawsuit that alleged Lampert benefited from a deal to spin off 235 of the struggling chain's best stores. The settlement must be approved by Delaware's Court of Chancery. Seritage then paid $2.6...

  • WILMINGTON, Del., Feb 9- Sears Holding Corp's chairman and chief executive, Eddie Lampert, and the company's board agreed to a $40 million settlement of a shareholder lawsuit that alleged Lampert benefited from a deal to spin off 235 of the struggling chain's best stores. The settlement must be approved by Delaware's Court of Chancery. Seritage then paid $2.6...

  • WILMINGTON, Del, Feb 9- The longest-serving member of Delaware's Supreme Court, Randy Holland, announced his plan to retire at the end of March, according to a statement from the court on Thursday. The court recently dismissed a $171 million investor lawsuit against pipeline operator Kinder Morgan Inc and revived a lawsuit against Zynga Inc's controlling...

  • Regeneron general counsel Joseph LaRosa said in a statement the company would continue to defend its case through the appeal process. Sanofi spokeswoman Ashleigh Koss said in an email the company was pleased the order had been stayed, "giving patients in the U.S. continued access to this important medicine during the appeal process. Amgen spokeswoman Kristen...

  • Sanofi spokeswoman Ashleigh Koss said in an email the company was pleased the order had been stayed, "giving patients in the U.S. continued access to this important medicine during the appeal process. Amgen had sought to block Praluent sales in an October 2014 lawsuit against Paris- based Sanofi and Tarrytown, New York- based Regeneron. Thousand Oaks, California-...

  • HARRISBURG, Pa., Feb 7- Pennsylvania Gov. Tom Wolf on Tuesday proposed a $32.3 billion state budget for fiscal 2018 that seeks to reduce an estimated $3 billion structural deficit through $2 billion in spending cuts and $1 billion in revenue enhancements. Wolf also hopes to get $200 million from a leaseback deal for the Pennsylvania Farm Show Complex& Expo Center...

  • Feb 6- Eastern Outfitters LLC, the parent of discount chain Bob's Stores and outdoor retailer Eastern Mountain Sports, filed for bankruptcy protection on Sunday, the latest U.S. retailer to do so amid increased competitive pressure facing the sector. Eastern Outfitters listed assets and liabilities in the range of $100 million to $500 million, according to...

  • Feb 2- Wet Seal LLC filed for bankruptcy protection on Thursday, following reports last week that the struggling teen apparel retailer had closed all its stores after it was unable to find a buyer. The Irving, California- based company listed assets of $10 million- $50 million and liabilities of $50 million- $100 million in a filing with the U.S. bankruptcy court in...

  • WILMINGTON, Del., Feb 1- Financially distressed companies that file for U.S. bankruptcy are emerging from court proceedings more quickly than ever, lowering legal costs but also forcing junior creditors to scramble to protect their interests. "It used to be a roach motel," said Melissa Jacoby, a professor at the University of North Carolina School of Law.

  • WILMINGTON, Del., Feb 1- Financially distressed companies that file for U.S. bankruptcy are emerging from court proceedings more quickly than ever, lowering legal costs but also forcing junior creditors to scramble to protect their interests. "It used to be a roach motel," said Melissa Jacoby, a professor at the University of North Carolina School of Law.

  • Jan 31- Health insurer Aetna Inc said on Tuesday it lost more money than expected on the Obamacare individual insurance plans, one of the main pillars of the Affordable Care Act that President Donald Trump is working to "repeal and replace." Bertolini said in an interview that the Hartford, Connecticut, company will not enter any new markets with exchange...

  • WILMINGTON, Del., Jan 24- Judges in Delaware and Canada approved on Tuesday a plan to pay more than $7 billion to creditors of Nortel Networks, ending years of litigation over the former telecommunications company that filed for bankruptcy in 2009.. Bankruptcy Judge Kevin Gross in Wilmington, Delaware and Frank Newbould of the Superior Court of Justice in...

  • Jan 24- Plains All American Pipeline LP said it would buy a crude oil gathering system in the Permian Basin for about $1.22 billion, bolstering its presence in the top U.S. oil field. In a separate deal, Targa Resources Corp said it would buy Outrigger Energy's assets in the Delaware and Midland basins, two of the main portions of the Permian Basin, for up to $1.5...

  • WILMINGTON, Del., Jan 24- Judges in Delaware and Canada approved on Tuesday a plan to pay more than $7 billion to creditors of Nortel Networks, ending years of litigation over the former telecommunications company that filed for bankruptcy in 2009.. Bankruptcy Judge Kevin Gross in Wilmington, Delaware and Frank Newbould of the Superior Court of Justice in...

  • WILMINGTON, Del., Jan 24- The Canadian and U.S. judges overseeing Nortel Networks' 2009 bankruptcy proceeding said on Tuesday they would approve the plan by the former telecommunications company to repay its creditors, clearing the way for more than $7 billion to be distributed.

  • WILMINGTON, Del., Jan 24- The Canadian and U.S. judges overseeing Nortel Networks' 2009 bankruptcy proceeding said on Tuesday they would approve the plan by the former telecommunications company to repay its creditors, clearing the way for more than $7 billion to be distributed.

  • WILMINGTON, Del., Jan 24- The Canadian and U.S. judges overseeing Nortel Networks' 2009 bankruptcy proceeding said on Tuesday they would approve the plan by the former telecommunications company to repay its creditors, clearing the way for more than $7 billion to be distributed.

  • WILMINGTON, Del., Jan 23- A Delaware court revived an investor lawsuit against Energy Transfer Partners over its $11 billion acquisition of Regency Energy Partners in a case focused on protections for investors in master limited partnerships. The Delaware Supreme Court ruled on Friday that pipeline operators Energy Transfer Partners and its indirect...

  • Last Friday, the justices said they would decide a similar appeal by Texas- based BNSF Railway Co of a 2015 Montana Supreme Court ruling allowing out-of-state residents to sue there over injuries that occurred anywhere in BNSF's nationwide network. The California Supreme Court ruled in August 2016 that it could preside over the Plavix case because...

  • WASHINGTON, Jan 18- President-elect Donald Trump's choice to lead the U.S. Environmental Protection Agency expressed doubt about the science behind global climate change during a contentious Senate confirmation hearing on Wednesday, but added he would be obliged for now to uphold the EPA's finding carbon dioxide poses a public danger.