Leo E. Strine Jr.

Megyn Kelly

* Watch out, Biglaw, the tax man is coming for you. If this bill goes through, it could put a hurting on partners’ pocketbooks at law firms with more than $10 million in gross receipts. [Blog of Legal Times]

* International firms are just discovering Africa, and are moving quickly to set up shops there. Before opening up your firm, take a quick lesson from DLA Piper: Africa is a continent, not a country. [Am Law Daily]

* Juan Monteverde, one of our Lawyer of the Year nominees, received a very public spanking from Chancellor Leo Strine of the Delaware Court of Chancery over outsized attorneys’ fees in a “dubious” shareholder suit. Ouch, that’s really gotta sting. [WSJ Law Blog (sub. req.)]

* Oh mon dieu, BU Law set up an exchange program between a law school and a foreign management school. Students might not get jobs out of it, but at least they’ll get to go to Paris. [National Law Journal]

* Politico has put together a fun little list of the ten journalists to watch in 2014, and a few lawyers made the cut, including Glenn Greenwald, Ronan Farrow, and Megyn Kelly. Congratulations, everyone! [Politico]

Chancellor Leo E. Strine Jr.

We remind Delaware judges that the obligation to write judicial opinions on the issues presented is not a license to use those opinions as a platform from which to propagate their individual world views on issues not presented. …

To the extent Delaware judges wish to stray beyond those issues and, without making any definitive pronouncements, ruminate on what the proper direction of Delaware law should be, there are appropriate platforms, such as law review articles, the classroom, continuing legal education presentations, and keynote speeches.

– The Delaware Supreme Court, in an en banc decision, stepping away from the case at hand in Gatz Properties v. Auriga Capital to comment on Delaware Court of Chancery Chancellor Leo E. Strine’s tendency to make rather colorful comments and observations in his opinions.

(Continue reading for one of Chancellor Strine’s most recent greatest hits, which came in the form of an awesome courtroom digression.)

double red triangle arrows Continue reading “Benchslap of the Day: With All Due Respect, Please STFU”

Just look at those adorable, scheming, devious eyes.

* Jill and Kent Easter have pleaded not guilty to charges of planting drugs on a volunteer at their son’s school. Goddamn that pusher man! [Jezebel]

* Concussion litigation expert Paul D. Anderson discusses the nitty-gritty of all those football players suing because their job may have gave them brain damage. [Legal Blitz]

* In unnerving lawyer news, a Seattle litigator was arrested on accusations of sexually assaulting a masseuse at knifepoint. [Komo News]

* And on the other side of the country, a Pennsylvania attorney was specifically targeted in a home invasion that left him in the hospital with gunshot wounds. What is wrong with people this week? [Philadelphia Inquirer]

* This whole disastrous domestic dispute-turned-shooting could have been avoided by marrying a dog-lover instead of a cat lady. [Legal Juice]

* Casino magnate Sheldon Adelson explains why he’s putting all his chips on Mitt Romney. [Huffington Post]

* Here are some tips on acing your call-back interview. Seriously though, you really only need one item: a Trapper Keeper. [The Careerist]


Gotta have that entourage.

The world is diverse enough that it is conceivable that a mogul who needed to address an urgent debt situation at one of his coolest companies (say a sports team or entertainment or fashion business), would sell a smaller, less sexy, but fully solvent and healthy company in a finger snap (say two months) at 75% of what could be achieved if the company sought out a wider variety of possible buyers, gave them time to digest non-public information, and put together financing.

In that circumstance, the controller’s personal need for immediate cash to salvage control over the financial tool that allows him to hang with stud athletes, supermodels, hip hop gods, and other pop culture icons, would have been allowed to drive corporate policy at the healthy, boring company and to have it be sold at a price less than fair market value, subjecting the minority to unfairness.

– Delaware Court of Chancery Chancellor Leo E. Strine Jr., rejecting lawsuits claiming that Hansjoerg Wyss, the chairman of Synthes, shortchanged shareholders when he sold the company to Johnson & Johnson.