Mike Leonard

Chicago, Washington, D.C., United States

Reporter for @BLaw's Legal Intelligence desk, covering mainly Delaware's Chancery Court. Views (about Covid) are my own.

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Articles

Dan Gilbert Affiliate Defeats Rocket Cos. Insider Trading Claims

3 days ago | news.bloomberglaw.com | Mike Leonard

Affiliates of Cleveland Cavaliers owner Dan Gilbert prevailed in court Monday against insider trading claims targeting their move to sell $500 million worth of shares in Gilbert’s mortgage lender Rocket Cos. A Delaware judge threw out claims against the Gilbert-linked conglomerate that controls Rocket, saying the timeline undermined the lawsuit’s main theory. Although Rock Holdings Inc.
Dan Gilbert Affiliate Defeats Rocket Insider Trading Claims (1)

3 days ago | news.bloombergtax.com | Mike Leonard

Affiliates of Cleveland Cavaliers owner Dan Gilbert prevailed in court Monday against insider trading claims over their move to sell $500 million worth of shares in Gilbert’s mortgage lender Rocket Cos. A Delaware judge threw out claims against the Gilbert-linked conglomerate that controls Rocket, saying the timeline undermined the lawsuit’s main theory. Although Rock Holdings Inc.
Delaware Governor Moves to Defend Corporate Overhaul in Court

6 days ago | news.bloomberglaw.com | Mike Leonard

Delaware Gov. Matt Meyer (D) moved Friday to enter a brewing court fight over the legal overhaul he spearheaded earlier this year shifting corporate power toward influential insiders like Elon Musk and Mark Zuckerberg. Meyer sought permission to join litigation in Delaware’s Chancery Court challenging Dropbox Inc.'s relocation to Nevada, one of several high-profile “DExits” that led him to introduce state Senate Bill 21 on an aggressive fast track.
SpaceX Fights to Keep Files Under Seal in Chinese Investor Case

1 week ago | news.bloomberglaw.com | Mike Leonard

May 29, 2025, 5:55 PM UTC Mike Leonard Legal Reporter SpaceX headquarters in Hawthorne, Calif. on April 19, 2022. Alisha Jucevic/Bloomberg SpaceX executive, major investor deposed in Delaware caseJudge weighing Pro Publica’s motion for unsealed documentsSpaceX is locked in a legal battle over its effort to shield court filings from Pro Publica, which has been investigating secretive offshore deals between Elon Musk’s rocket venture and Chinese investors.
SpaceX Fights to Keep Files Under Seal in Chinese Investor Case

1 week ago | news.bloombergtax.com | Mike Leonard

SpaceX is locked in a legal battle over its effort to shield court filings from Pro Publica, which has been investigating secretive offshore deals between Elon Musk’s rocket venture and Chinese investors. A judge said Wednesday he’s weighing the news outlet’s bid for sealed documents, including video and transcripts of testimony from SpaceX chief financial officer, Bret Johnsen, and a major investor, Iqbaljit Kahlon.
Checkpoint Investor Sues for Info on Sale From Fortress to Sun

1 week ago | news.bloomberglaw.com | Mike Leonard

May 28, 2025, 5:23 PM UTC Mike Leonard Legal Reporter Signage outside the Sun Pharmaceutical Industries Ltd. headquarters in Mumbai, India, on May 2, 2019. Photographer: Kanishka Sonthalia/Bloomberg COURT: Del. Ch.TRACK DOCKET: No. 2025-0587Checkpoint Therapeutics Inc.'s planned $355 million sale to Sun Pharmaceuticals Inc. will likely siphon value from public investors and steer it to Fortress Biotech Inc., according to a lawsuit filed Wednesday.
Checkpoint Investor Sues for Info on Sale From Fortress to Sun

1 week ago | news.bloombergtax.com | Mike Leonard

Checkpoint Therapeutics Inc.'s planned $355 million sale to Sun Pharmaceuticals Inc. will likely siphon value from public investors and steer it to Fortress Biotech Inc., according to a lawsuit filed Wednesday. A shareholder sued Checkpoint for deal-related documents, saying public information suggests the transaction was designed to favor Fortress, which owns a majority of the clinical-stage oncology company.
Push for Swift Review of Corporate Law Overhaul Gains Momentum

1 week ago | news.bloombergtax.com | Mike Leonard

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Push for Swift Review of Corporate Law Overhaul Gains Momentum

1 week ago | news.bloomberglaw.com | Mike Leonard

Shareholder efforts to swiftly challenge a major corporate law overhaul in Delaware’s top court gained momentum after one of the state’s leading judges signaled support for the fast track. The investor leading a lawsuit against Clearway Energy Group LLC—a joint venture between TotalEnergies SE and a affiliate—moved Thursday for immediate Delaware Supreme Court review of his claims targeting state Senate Bill 21. The request came a day after Chancellor Kathaleen St. J.
London Stock Exchange Sued by Analytics Firm Founder for Fraud

1 week ago | news.bloomberglaw.com | Mike Leonard

COURT: Del. Ch.TRACK DOCKET: No. 2025-0547 (Bloomberg Law subscription)London Stock Exchange Group Plc defrauded MayStreet Inc.'s corporate leaders into accepting a deferred-payments deal structure when the financial markets giant bought the analytics firm, according to an unsealed lawsuit. Maystreet founder Patrick Flannery is suing LSEG over the 2022 acquisition, saying the operator of Europe’s largest capital market based the transaction on promises it never meant to keep.