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Chancery Sends Back Snap Settlement Over Class Concerns

Law 360

Delaware's Court of Chancery on Thursday rejected a proposed settlement between Snapchat parent Snap Inc. and a would-be class of shareholders that challenged changes to the company's voting control capital structure, deeming notice of the settlement inadequate and a last-minute expansion of the proposed class unexplained.

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Stockholders Fight Fox, Snap Officer Liability Shield In Del.

Law 360

and Snap Inc. stockholders urged a Delaware vice chancellor on Monday to declare void charter amendments shielding the two companies' corporate officers from damages for "duty of care" violations, saying the companies improperly excluded common stockholders from the decision. Attorneys for Fox Corp.

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$6.7M Atty Fee Sought In Del. For Snap Inc. Charter Reforms

Law 360

Directors of instant image-and-message sharing venture Snap Inc. and class attorneys have tentatively settled a stockholder class suit challenging charter amendments that benefited two company co-founders and shielded their control without a vote by or benefits for common shareholders.

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Promising ‘Cruelty-Free’ E-Discovery, Beagle Raises $3M Seed Funding Round

LawSites

Beagle , a company that says it is harnessing the power of native AI to make e-discovery “cruelty free,” has raised $3 million in a seed funding round. Beagle’s cofounder and CEO, Sergey Demyanov , was formerly manager of machine learning at Snap Inc. It expects a broader commercial release later this quarter.

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Snap, Fox Urge Del. Court To Uphold Shareholder Power Laws

Law 360

and Snap Inc. shareholders to unsettle long-standing interpretations, an attorney for the two companies told state's justices Wednesday. Delaware's shareholder power laws have worked for more than 80 years, and the state's Supreme Court should resist the call from Fox Corp.

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FTC orders social media companies to report on data collection practices

JURIST

The US Federal Trade Commission (FTC) voted Monday to issue an order requiring nine major social media and video streaming companies to report on their use of consumer data. He also noted that the investigation does not extend to all major video streaming companies, with Apple being one notable absence. Facebook, Inc.,

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Del. Justices OK Snap And Fox Clearing Officers Of Liability

Law 360

and Snap Inc. claiming the companies are required to let shareholders vote on proposed charter amendments to exculpate officers, thereby clearing them of certain liabilities The Delaware Supreme Court on Wednesday affirmed a lower court ruling that tossed shareholder lawsuits against Fox Corp.