Westlaw Journals weekly round-up

July 10, 2013

Westlaw Journals Weekly RoundupThe new Westlaw Journals blog brings you litigation headlines in over 30 substantive areas of law. In case you were too busy trying to stay cool while barbecuing, here are some highlights from the past week:

Delaware court upholds ‘forum selection’ bylaws at Chevron, FedEx: The directors of Chevron, FedEx and most U.S. companies have the power to adopt “forum selection” bylaws without shareholder consent, the Delaware Chancery Court’s chief judge has decided in a landmark ruling that could effectively herd most stockholder suits into the state. Since the majority of the country’s corporations are chartered in Delaware, Chancellor Leo Strine’s issue-of-first-impression opinion means most directors can now unilaterally adopt bylaw amendments that require all shareholder suits brought in the name of the company to be filed in the state the directors select. (Delaware Corporate)

Trustee sues Deutsche Bank over $113 million MBS losses: HSBC, the acting trustee for a $323 million mortgage-backed securities offering, is suing a Deutsche Bank subsidiary for allegedly failing to buy back defective loans the bank sold bundled together as securities. HSBC, which serves as securitization trustee for the offering, filed the complaint in the New York County Supreme Court, alleging the Deutsche Bank subsidiary, DB Structured Products, sold the loans knowing they were overvalued and would cause investor losses. (Bank & Lender Liability)

Polar bear ‘sport’ trophies can’t be brought into U.S.: A federal appeals court has ruled that polar bear “sport hunting” trophies cannot be imported into the United States because the bears are listed as “threatened” on the Endangered Species Act. In a June 18 opinion, a three-judge panel of the District of Columbia U.S. Circuit Court of Appeals affirmed a federal court’s grant of summary judgment for the U.S. Fish and Wildlife Service, which barred the import of display items composed of any part of a polar bear taken during a hunt for personal, noncommercial use. (Environmental)