• Delman v. GigAcquisitions3, LLC

    Publication Date: 2023-01-17
    Practice Area: Corporate Governance
    Industry: Automotive | Investments and Investment Advisory | Manufacturing
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Michael J. Barry, Grant & Eisenhoffer, P.A., Wilmington, DE; Michael Klausner, Stanford, CA, for plaintiff.
    for defendant: John L. Reed, Ronald N. Brown, Kelly L. Freund, DLA Piper LLP (US), Wilmington, DE; Melanie E. Walker, Gaspard Rappoport, DLA Piper LLP (US), Los Angeles, CA for defendants.

    Case Number: 2021-0679-LWW

    Public stockholder in pre-merger special purpose acquisition company sufficiently stated breach of fiduciary claims under entire fairness review by alleging that sponsor and the SPAC board were conflicted as they stood to see a return on their investment even though the post-merger company would not succeed, and regardless of whether the public stockholders would be better served by liquidation.

  • Jorgl v. AIM Immunotech Inc.

    Publication Date: 2022-11-15
    Practice Area: Corporate Governance
    Industry: Biotechnology | Pharmaceuticals
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Jeffrey J. Lyons, Baker & Hostetler LLP. Wilmington, DE; Teresa Goody Guillén, Baker & Hostetler LLP, Washington D.C.; Marco Molina, Baker & Hostetler LLP, Costa Mesa, CA for plaintiff.
    for defendant: Michael A, Pittenger, William R. Denny, Matthew F. Davis, Nicholas D. Mozal, Laura G. Readinger, Carson R. Bartlett, Shelby M. Thornton, Potter Anderson & Corroon LLP, Wilmington, DE for defendants.

    Case Number: 2022-0669-LWW

    The court denied plaintiff stockholder's request for preliminary injunctive relief requesting that defendant board of directors recognize a candidate nomination.

  • ITG Brands, LLC v. Reynolds Am., Inc.

    Publication Date: 2022-10-18
    Practice Area: Mergers and Acquisitions
    Industry: Consumer Products
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Stephen C. Norman, Matthew F. Davis, Tyler J. Leavengood, Potter Anderson & Corroon LLP, Wilmington, DE; Elizabeth B. McCallum, Gilbert S. Keteltas, Carey S. Busen, Evan M. Mannering, Baker & Hostetler, LLP, Washington, D.C.; Jim W. Phillips, Jr., Kimberly M. Marston, Brooks, Pierce, McLendon, Humphrey & Leonard, LLP, Greensboro, NC; Charles E. Coble, Brooks, Pierce, McLendon, Humphrey & Leonard, LLP, Raleigh, NC for plaintiff.
    for defendant: Gregory P. Williams, Rudolf Koch, Robert L. Burns; Matthew D. Perri, Richards, Layton & Finger, P.A., Wilmington, DE; Noel J. Francisco, C. Kevin Marshall, William D. Coglianese, Jones Day, Washington, D.C.; Stephanie E. Parker, Katrina L.S. Caseldine, Jones Day, Atlanta, GA; David B. Alden, Kevin P. Riddles, Jones Day, Cleveland, OH; Elli Leibenstein, Greenberg Traurig, LLP, Chicago, IL; Stephen L. Saxl, Greenberg Traurig, LLP, New York, NY; Andrea Shwayri Ferraro, Greenberg Traurig, P.A., West Palm Beach, FL for defendants.

    Case Number: 2017-0129-LWW

    Judgment to recover unpaid settlement payments under settlement agreement with state government constituted an assumed liability under parties' asset purchase agreement where the settlement payments were based on buyer's sales of acquired cigarette brands in the state.

  • Oklahoma Firefighters Pension & Ret. Sys. v. Amazon.com, Inc.

    Publication Date: 2022-06-14
    Practice Area: Corporate Governance
    Industry: E-Commerce | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Blake A. Bennet, Cooch and Taylor, P.A., Wilmington, DE; Geoffrey M. Johnson, Scott+Scott Attorneys at Law LLP, Cleveland Heights, OH; Donald A. Broggi, Scott R. Jacobsen, Scott+Scott Attorneys at Law LLP, New York, NY for plaintiff.
    for defendant: Kevin R. Shannon, Berton W. Ashman, Jr., Mathew A. Golden, Potter Anderson & Corroon LLP, Wilmington, DE; William Savitt, Anitha Reddy, Adam M. Gogolak, Corey J. Banks, Zachary M. David, Wachtell, Lipton, Rosen & Katz, New York, NY for defendant.

    Case Number: D69849

    Plaintiff's request for additional books and records denied where it had failed to produce evidence permitting an inference that defendant corporation was engaged in antitrust and tax law violations, such that plaintiff's request merely constituted an improper fishing expedition.

  • Schwartz v. Cognizant Tech. Solutions Corp.

    Publication Date: 2022-04-12
    Practice Area: Litigation
    Industry: Consulting
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Bartholomew J. Dalton, Michael C. Dalton, Dalton & Associates, P.A., Wilmington, DE; Adam Balick, Michael Collins Smith, Balick & Balick, LLC, Wilmington, DE for plaintiff.
    for defendant: David E. Ross, Anthony Calvano, Ross Aronstam & Moritz LLP, Wilmington, DE; J. Christian Word, Latham & Watkins LLP, Washington, DC; Luke Nikas, Quinn Emanuel Urquhart & Sullivan, LLP, New York, NY; William A. Burck, Ben A. O’Neil, Quinn Emanuel Urquhart & Sullivan, LLP for defendant.

    Case Number: D69776

    The court held that plaintiff was not entitled to an anti-suit injunction because a state court cannot restrain federal court proceedings.

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  • Krauss v. 180 Life Sciences Corp.

    Publication Date: 2022-03-22
    Practice Area: Corporate Entities
    Industry: Biotechnology | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Kenneth J. Nachbar, S. Mark Hurd, Sara Toscano, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Aaron Miner, Arnold & Porter, New York, NY for plaintiff.
    for defendant: Matthew F. Davis, Aaron R. Sims, Callan R. Jackson, Potter Anderson & Corroon LLP, Wilmington, DE; Jeffrey W. Shields, Shields Law Offices, Irvine, CA for defendant.

    Case Number: D69754

    The court held that Krauss was entitled to advancement for fees associated with her response to the SEC subpoenas, her de-fense of the direct actions, and her prosecution of her affirmative defenses and compulsory counterclaims because those claims flowed from her position as a director and officer of KBL.

  • Deane v. Maginn

    Publication Date: 2022-03-15
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Software
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: David H. Holloway, Shlansky Law Group, LLP, Wilmington, DE; Colin R. Hagan, David J. Shlansky, Shlansky Law Group, LLP, Chelsea, MA for plaintiffs.
    for defendant: Jody C. Barillare, Amy M. Dudash, Morgan, Lewis & Bockius LLP, Wilmington, DE; Michael D. Blanchard, Morgan, Lewis & Bockius, Boston, MA for defendants

    Case Number: D69744

    The court held that plaintiffs' claim against defendant for allowing warrants to expire was time-barred.

  • Strategic Inv. Opportunities LLC v. Lee Enter., Inc.

    Publication Date: 2022-03-01
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: John D. Hendershot, Matthew W. Murphy, John T. Miraglia, Richards, Layton & Finger, P.A., Wilmington, DE; Adrienne Marie Ward, Lori Marks-Esterman, Peter M. Sartorius, Theodore J. Hawkins, Olshan Frome Wolosky LLP, New York, NY for plaintiff.
    for defendant: Michael A. Pittenger, Christopher N. Kelley, Daniel M. Rusk, IV, Justin T. Hymes, Potter Anderson & Corroon LLP, Wilmington, DE; Stefan Atkinson, Byron Pacheco, Brittney Nagle, Kirkland & Ellis LLP, New York, NY for defendants.

    Case Number: D69729

    The court held that the defendant company, through its board members, did not breach bylaw requirements when it rejected the proposed nomination to the board because the nomination notice was deficient, and the actions of the board were rea-sonable and equitable.

  • In Re Camping World Holdings, Inc.

    Publication Date: 2022-02-15
    Practice Area: Corporate Governance
    Industry: Automotive | Consumer Products | Retail
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Martin S. Lessner, Emily V. Burton, Kevin P. Rickert, Young Conaway Stargatt & Taylor LLP, Wilmington, DE; Brian J. Robbins, Stephen J. Oddo, Gregory E. Del Gaizo, Robbins LLP, San Diego, CA for plaintiffs.
    for defendant: Gregory P. Williams, Matthew D. Perri, Richards, Layton & Finger, P.A., Wilmington, DE; Andrew B. Clubok, Latham & Watkins LLP, Washington, DC; Eric R. Swibel, Latham & Watkins LLP, Chicago, IL for defendants.

    Case Number: D69711

    The court held that the complaint failed to plead particularized facts demonstrating that demand was futile as to a majority of the demand board members.

  • Brown v. Matterport, Inc.

    Publication Date: 2022-01-25
    Practice Area: Contracts
    Industry: Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Thomas A. Uebler, Joseph Christensen, McCollom D’Emilio Smith Uebler LLC, Wilmington, DE; Edward D. Totino, Benjamin W. Turner, Baker Mckenzie LLP, Los Angeles, CA for plaintiff.
    for defendant: Robert L. Burns, Daniel E. Kaprow, Richards, Layton & Finger, P.A., Wilmington, DE; Michele Johnson, Kristin Murphy, Lat-ham & Watkins LLP, Costa Mesa, CA; Colleen Smith, Latham & Watkins LLP, San Diego, CA for defendants.

    Case Number: D69686

    The court held that plaintiff's shares were not Lockup Shares as defined in the bylaws adopted prior to the business combination between the Special Purpose Acquisition Company and plaintiff's former company, such that plaintiff was free to trade them immediately upon receipt. Relief in Count I granted.