Commercial Courtwatch | Week of 7/1/24

Chronicling business litigation from the Federal Courts of Appeals and Delaware

Appellate | Interlocutory appeal of stay in PG&E securities litigation appropriate because district court’s sua spent stay both “lengthy and indefinite.”  Ninth Circuit. 

Arbitration | FAA not give federal courts jurisdiction to adjudicate petition to vacate arbitration award—need independent basis like diversity or federal question, but “a claim of manifest disregard of federal law doesn’t present a federal question.”  Fourth Circuit. 

Contract | Electronically “acknowledging” PIIA enough to make terms binding on employee as a matter of contract law in later copyright dispute. D.C. Circuit.  

Contract | No enforceable requirements contract without clear quantity, even with evidence of past purchase orders.  Sixth Circuit.  

Damages | Post-judgment interest accrues on total of judgment + pre-judgment interest.  Delaware Supreme Court. 

Injunctions | Irreparable harm no less important when movement shows likelihood of success on the merits.  Federal Circuit.  

M&A | Chancery court dismissal of BitGo’s claim for repudiation of merger agreement with Galaxy reversed  because meaning of “Company 2021 Audited Financial Statements” ambiguous, necessitating consideration of extrinsic evidence. Delaware Supreme Court.  

M&A | All members of special committee must be independent to cleanse spin-out transaction and avoid entire-fairness review.  Delaware Supreme Court. 

Patent | The same conditions for patentability that apply to utility patents apply to design patents, going back to applying 1966 Graham v. John Deere Co. SCOTUS decision.  En banc Federal Circuit.  

Patent | Section 284 damages for foreign infringement permitted if patentee shows "causal relationship" between the infringing act within the country, overruling Power Integrations.  Federal Circuit. 

Patent | Prior appeal revering district court’s grant of enhanced damages after jury verdict kept patents susceptible to attack before a “final judgment,” and interim patent invalidity ruling nullifies jury verdict of infringement.  Federal Circuit.  

Patent | Art. III standing not lost based on loan agreement agreement that provided patentee option to assign patents to lender upon default.  Federal Circuit. 

Securities | Anonymous criticism of management’s disclosures regarding acquisition insufficient to plead scienter for valid 10(b) claim.  Ninth Circuit. 

Summary Judgment | District court’s denial of summary judgment is not appealable after a trial on the merits.  Federal Circuit. 

Trademark | Lanham Act not preclude judicial review of PTO’s trademark grant.  Fourth Circuit.