• Soleimani v. Hakkak

    Publication Date: 2024-04-29
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Brian C. Ralston, T. Brad Davey, Charles P. Wood, Abraham C. Schneider, Potter Anderson & Corroon LLP, Wilmington, DE; Douglas P. Baumstein, Ellen Shapiro, Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C., New York, NY for plaintiffs.
    for defendant: Blake Rohrbacher, Mari Boyle, Morgan R. Harrison, Richards, Layton & Finger, P.A., Wilmington, DE; Anthony M. Candido, Clifford Chance US LLP, New York, NY for defendants.

    Case Number: 2023-0948-LWW MEMORANDUM OPINION Date Submitted:

    Plaintiff's removal as an employee and manager of LLCs was ineffective where the operating agreements established payment of the fair market value of plaintiff's revenue share as a condition precedent to removal.

  • Wright v. Silver Creek Pharm., Inc.

    Publication Date: 2024-04-08
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Pharmaceuticals
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Kevin M. Gallagher, Andrew L. Milam, Richards, Layton & Finger, P.A., Wilmington, DE, attorneys for plaintiff.
    for defendant: Lisa M. Zwally, Greenberg Traurig, LLP, Wilmington, DE, attorney for defendant.

    Case Number: 2023-1044-LWW

    Purported written consent in lieu of a meeting could not moot stockholders' request for an annual meeting where the law required the removal of incumbent directors before a non-unanimous written consent could fill the vacancies.

  • Murdick Capital Mgmt. L.P. v. QuarterNorth Energy Inc.

    Publication Date: 2024-03-11
    Practice Area: Mergers and Acquisitions
    Industry: Energy | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Bradley R. Aronstam, Roger S. Stronach, Benjamin M. Whitney, Ross Aronstam & Moritz LLP, Wilmington, DE; Jordan A. Goldstein, Lauren J. Zimmerman, Babak Ghafarzade, Selendy Gay PLLC, New York, NY for plaintiffs.
    for defendant: Blake Rohrbacher, Matthew W. Murphy, John M. O’Toole, Edmond S. Kim, Spencer V. Crawford, Margaret Rockey, Richards, Layton & Finger, P.A., Wilmington, DE; Harry P. Susman, Susman Godfrey L.L.P., Houston, TX; Thomas W. Briggs, Jr., Kirk Andersen, Morris Nichols Arsht & Tunnell LLP, Wilmington, DE; Andrew K. Glenn, Glenn Agre Bergman & Fuentes LLP, New York, NY for defendants.

    Case Number: 2024-0106-LWW

    Court declined to preliminarily enjoin invocation of drag-along rights where the invocation was not inconsistent with the terms of the proposed merger agreement or the minority securityholders' agreements and the minority could obtain monetary relief if the court ultimately found an improper invocation.

  • Clem v. Skinner

    Publication Date: 2024-03-04
    Practice Area: Corporate Governance
    Industry: Pharmaceuticals | Retail | Software
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Blake A. Bennett, Dean R. Roland, Cooch and Taylor, P.A., Wilmington, DE; Brian J. Robbins, Stephen J. Oddo, Eric M. Carrino, Robbins LLP, San Diego, CA; Leo Kandinov, Aaron T. Morris, Andrew W. Robertson, Morris Kandinov LLP, San Diego, CA for plaintiffs.
    for defendant: A. Thompson Bayliss, Samuel D. Cordle, Caleb Volz, Abrams & Bayliss LLP, Wilmington, DE; Robert G. Jones, Jessica M. Bergin, Sara A. Bellin, Ropes & Gray LLP, Boston, MA; Martin J. Crisp, Ropes & Gray LLP, New York, NY for defendants.

    Case Number: 2021-0240-LWW

    Caremark claims failed where board of directors promptly responded to whistleblower action regarding the company's billing practices by overseeing the response to the DOJ's civil investigation demands and fixing the billing software to eliminate the improper practices.

  • DiDonato v. Campus Eye Mgmt., LLC

    Publication Date: 2024-02-12
    Practice Area: Corporate Governance
    Industry: Health Care | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Mary F. Dugan, Emily V. Burton, Tanner C. Jameson, Young Conaway Stargatt & Taylor LLP, Wilmington, DE for plaintiff.
    for defendant: Ethan H. Townsend, Daniel T. Menken, Ryan D. Konstanzer, McDermott Will & Emery LLP, Wilmington, DE for defendant.

    Case Number: 2023-0671-LWW

    Manager and member of LLC remained the manager of the company where the LLC agreement required his involvement and approval for any amendment, such that the other investors in the company could not unilaterally amend the agreement to remove the manager.

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  • Kellner v. AIM Immunotech Inc.

    Publication Date: 2024-01-15
    Practice Area: Corporate Governance
    Industry: Biotechnology | Pharmaceuticals
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: John M. Seaman, Eliezer Y. Feinstein, Abrams & Bayliss LLP, Wilmington, DE for plaintiff.
    for defendant: Michael A. Pittenger, William R. Denny, Matthew F. Davis, Nicholas D. Mozal, Potter Anderson & Corroon LLP, Wilmington, DE for defendants.

    Case Number: C.A. No. 2023-0879-LWW

    Court denied injunction of corporate annual meeting pending appeal where delaying the meeting could be inequitable to the company and any prejudice plaintiff might suffer in the absence of injunctive relief was partially self-inflicted.

  • Paragon Tech., Inc. v. Cryan

    Publication Date: 2023-12-11
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Technology Media and Telecom | Transportation
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Stephen E. Jenkins, Richard D. Heins, Ashby & Geddes, P.A., Wilmington, DE; Renee M. Zaytsev, Constance M. Boland, Ned Babbitt, Thompson Hine LLP, New York, NY; Thomas Palmer, Thompson Hine LLP, Columbus, OH; Ryan Blackney, Thompson Hine LLP, Chicago, IL for plaintiff.
    for defendant: Michael A. Pittenger, Christopher N. Kelly, Tyler J. Leavengood, David A. Seal, Callan R. Jackson, Christopher D. Renaud, Ryan M. Ellingson, Potter Anderson & Corroon LLP, Wilmington, DE for defendants.

    Case Number: 2023-1013-LWW

    Court denied stockholder's motion for a preliminary injunction to require company to allow stockholder's nominees to stand for election to the board and to grant the stockholder's request for exemption from a rights plan, where stockholder failed to present sufficient evidence to demonstrate its likelihood of prevailing on its breach of fiduciary duty claims against the board.

  • Maginn v. Maginn

    Publication Date: 2023-10-30
    Practice Area: Corporate Governance
    Industry: Software
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Neil R. Lapinski, Phillip A. Giordano, Madeline R. Silverman, Gordon, Fournaris & Mammarella, P.A., Wilmington, DE for plaintiff.
    for defendant: Garrett B. Moritz, Ross Aronstam & Moritz LLP, Wilmington, DE; Thad J. Bracegirdle, Bayard, P.A., Wilmington, DE for defendants. Albert H. Manwaring, IV & Kirsten A. Zeberkiewicz, Morris James LLP, Wilmington, DE for nominal defendant.

    Case Number: 2023-0805-LWW

    Reasoning that the master's report in the parties' divorce proceeding had not yet been adopted by the probate court and the defendant had not been removed as a general partner of the Family LP, plaintiff, acting alone, lacked the authority to direct the Family LP through a written consent to remove another board member of nominal defendant.

  • In re ProAssurance Corp. Stockholder Derivative Litig.

    Publication Date: 2023-10-16
    Practice Area: Corporate Governance
    Industry: Insurance
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Thomas A. Uebler, McCollom D’Emilio Smith Uebler LLC, Wilmington, DE; Blake A. Bennett, Cooch and Taylor, P.A., Wilmington, DE; Melinda A. Nicholson, Nicolas Kravitz, Kahn Swick & Foti, LLC, New Orleans, LA; Benjamin I. Sachs-Michaels, Glancy Prongay & Murray LLP, New York, NY; Robert V. Prongay, Pavithra Rajesh, Glancy Prongay & Murray LLP, Los Angeles, CA for plaintiffs.
    for defendant: Raymond J. DiCamillo, Kevin M. Gallagher, Nicholas F. Mastria, Richards, Layton & Finger, P.A., Wilmington, DE; Jonathan Youngwood, Janet A. Gochman, Jacob Lundqvist, Simpson Thacher & Bartlett LLP, New York, NY for defendants.

    Case Number: 2022-0034-LWW

    Court dismissed shareholders' derivative complaint for failure to plead demand futility where plaintiffs' fiduciary claims against the company's directors and officers failed to set forth a prima facie case of personal liability such that the board could not independently consider a litigation demand.

  • Rem OA Holdings, LLC v. Northern Gold Holdings, LLC

    Publication Date: 2023-10-02
    Practice Area: Corporate Entities
    Industry:
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Thomas W. Briggs, Jr., Alexandra Cumings, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Michael C. Holmes, Jeffrey Crough, Thomas Mitsch, Vinson & Elkins LLP, Dallas, TX; Matthew R. Freidenberg, Vinson & Elkins LLP, New York, NY; Scott B. Czerwonka, D. Charles Vavala, III, Wilks Law, LLC, Wilmington, DE for plaintiffs.
    for defendant: Martin S. Lessner, Elisabeth S. Bradley, M. Paige Valeski, Young Conaway Stargatt & Taylor LLP, Wilmington, DE for defendant. John D. Hendershot, Matthew W. Murphy, Angela Lam, Richards, Layton & Finger, P.A., Wilmington, DE for nominal defendant.

    Case Number: 2022-0582-LWW

    Noting that a contracting party is obligated to read any contract it signs including any documents incorporated by reference, the court denied defendant relief because it could have discovered the challenged loan terms by exercising ordinary care.