• Bailey v. Tektronix, Inc.

    Publication Date: 2024-03-11
    Practice Area: Mergers and Acquisitions
    Industry: E-Commerce | Manufacturing | Technology Media and Telecom
    Court: U.S. District Court of Delaware
    Judge: District Judge Williams
    Attorneys: For plaintiff: Robert Karl Beste, III, Jason Z. Miller, Smith, Katzenstein, & Jenkins LLP, Wilmington, DE for plaintiff.
    for defendant: Anthony David Raucci, Donna Lynn Culver, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE for defendant.

    Case Number: 21-1268-GBW

    Retention holdback agreement breached where reasonable interpretation of definition of qualifying revenue meant that the acquiring company hit the revenue goals to trigger the payout.

  • Buck v. Viking Holding Mgmt. Co. LLC

    Publication Date: 2024-02-26
    Practice Area: Contractual Disputes
    Industry: Accounting | Consulting | Technology Media and Telecom
    Court: Delaware Superior Court
    Judge: Judge Adams
    Attorneys: For plaintiff: John M. LaRosa, LaRosa & Associates LLC, Wilmington, DE; Lawrence P. Schaefer, Bert Black, Mack H. Reed, Timothy S. Christensen, Anne C. Bolgert, Schaeffer Halleeen, LLC, Minneapolis, MN for plaintiff.
    for defendant: Peter H. Kyle, John L. Reed, Daniel P. Klusman, DLA Piper, LLP, Wilmington, DE for defendant.

    Case Number: N20C-08-249 MAA CCLD

    Court denied parties' cross-motions for summary judgment where finding cause for termination was a condition precedent to employer's option to repurchase employee's equity at original cost and where there were genuine issues of material fact as to whether cause existed.

  • Mercury Partners Mgmt., LLC v. Valo Health, Inc.

    Publication Date: 2024-02-19
    Practice Area: Mergers and Acquisitions
    Industry: Health Care | Investments and Investment Advisory | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Zurn
    Attorneys: For plaintiff: Brian E. Farnan, Farnan LLP, Wilmington, DE for plaintiff.
    for defendant: Rudolf Koch, Richards, Layton & Finger, P.A., Wilmington, DE for defendant.

    Case Number: 2023-0318-MTZ

    Court declined interlocutory review where appeal did not raise novel or conflicting issues of law regarding decision to decline specific performance on a best efforts clause.

  • In re: AMC Investors, LLC

    Publication Date: 2024-01-29
    Practice Area: Bankruptcy
    Industry: Electronics | Investments and Investment Advisory | Technology Media and Telecom
    Court: U.S. District Court of Delaware
    Judge: District Judge Andrews
    Attorneys: For plaintiff: Mark D. Collins, Marcos A. Ramos, Cory Kandestin, Richards, Layton & Finger, P.A., Wilmington, DE; Mitchell A. Karlan, Paul J. Kremer, Gibson, Dunn & Crutcher LLP for appellants.
    for defendant: Curtis Miller, Daniel B. Butz, Jonathan M. Weyland, Morris Nichols, Arsht & Tunnell LLP, Wilmington, DE; James A. Bombulie, Dustin B. Hillsley, Akerman, LLP, Miami, FL; Brian P. Miller, King & Spalding LLP, Miami, FL for appellees.

    Case Number: 22-179-RGA

    Statute of limitations barred adversary complaints filed on behalf of debtors by their creditor where creditor's prior lawsuit against debtors based on the same factual predicate put debtors on notice of the claims raised in the adversary proceeding.

  • In re Fox Corp.

    Publication Date: 2024-01-29
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Technology Media and Telecom
    Court: Delaware Supreme Court
    Judge: Justice Seitz
    Attorneys: For plaintiff: Gregory V. Varallo, Daniel E. Meyer, Bernstein Litowitz Berger & Grossmann LLP, Wilmington, DE; Mark Lebovitch, Edward G. Timlin, Bernstein Litowitz Berger & Grossmann LLP, New York, NY for appellants.
    for defendant: William B. Chandler III, Brad D. Sorrels, Amy L. Simmerman, Daniyal M. Iqbal, Nora M. Crawford, Wilson Sonsini Goodrich & Rosati, P.C., Wilmington, DE; Mark R. Yohalem, Wilson Sonsini Goodrich & Rosati, P.C., Los Angeles, CA; William M. Lafferty, Susan W. Waesco, Alexandra M. Cumings, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE for appellees.

    Case Number: 2022-1007

    Ability to sue corporate officers for fiduciary violations was not a "power, preference, or special right" of a class of stock and thus a proposed amendment to add an officer exculpation clause did not require a separate class vote under the Delaware General Corporation Law.

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  • Chordia v. Lee

    Publication Date: 2024-01-15
    Practice Area: Corporate Governance
    Industry: Electronics | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Cook
    Attorneys: For plaintiff: Bradley R. Aronstam, R. Garrett Rice, Holly E. Newell, Ross Aronstam & Moritz LLP, Wilmington, DE; Brian M. Burnovski, Andrew Ditchfield, Pascale Bibi, Nikolaus J. Williams, Marie Killmond, Danielle Mullery, Davis Polk & Wardwell LLP, New York, NY for plaintiffs.
    for defendant: William M. Lafferty, Ryan D. Stottmann, Lauren K. Neal, Alec Hoeschel, Grant E. Michl, Morris, Nichols, Arsht & Tunnel LLP, Wilmington, DE; Hallie B. Levin, Wilmer Cutler Pickering Hale & Dorr LLP, New York, NY; Timothy Perla, Wilmer Cutler Pickering Hale & Dorr LLP, Boston, MA; William Savitt, Jonathan M. Moses, Elaine Golin, Graham W. Meli, Ryan A. McLeod, Wachtell, Lipton, Rosen & Katz, New York, NY; Eric Seiler, Lance J. Gotko, Jason Rubinstein, David J. Ranzenhofer, Sofie Syed, Friedman Kaplan Seiler, Adelman & Robbins LLP, New York, NY; Kurt M. Heyman, Elizabeth A. DeFelice, Heyman Enerio Gattuso & Hirzel LLP, Wilmington, DE for defendants.

    Case Number: 2023-0382-NAC

    Majority owner's intentional acts to remove founders from the company to eliminate their right to designate board members materially interfered with those rights in violation of the parties' stockholders' agreement's "reasonable efforts" clause.

  • Patel v. Alphabet Inc.

    Publication Date: 2024-01-15
    Practice Area: Consumer Protection
    Industry: E-Commerce | Technology Media and Telecom
    Court: U.S. District Court of Delaware
    Judge: District Judge Noreika
    Attorneys: For plaintiff: Raj Patel, Indianapolis, IN, plaintiff pro se.
    for defendant:

    Case Number: 23-797 (MN)

    Court dismissed pro se complaint as unintelligible and barred by res judicata.

  • City of Hialeah Employees' Ret. Sys. v. Insight Venture Partners, LLC

    Publication Date: 2024-01-08
    Practice Area: Mergers and Acquisitions
    Industry: Financial Services and Banking | Investments and Investment Advisory | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Zurn
    Attorneys: For plaintiff: Thomas Curry, Tayler D. Bolton, Saxena White P.A., Wilmington, DE; David Wales, Saxena White P.A., White Plains, NY; Adam Warden, Saxena White P.A., Boca Raton, FL; Peter B. Andrews, Craig J. Springer, David M. Sborz, Andrew J. Peach, Jackson E. Warren, Jacob D. Jeifa, Wilmington, DE, Andrews & Springer LLC for plaintiff.
    for defendant: Garrett B. Moritz, S. Reiko Rogozen, Ross Aronstam & Moritz LLP, Wilmington, DE; Steven M. Farina, George A. Borden, Brian T. Gilmore, Williams & Connolly LLP, Washington, DC; William M. Lafferty, Ryan D. Stottmann, Rachel R. Tunney, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Tariq Mundiya, Jeffrey B. Korn, Richard Li, Ciara A. Sisco, Willkie Farr & Gallagher LLP, New York, NY for defendants.

    Case Number: 2022-0846-MTZ

    Plaintiff failed to plead demand futility for derivative complaint where controller's ability to remove board members by itself could not establish a lack of independence and a majority of the board's financial ties did not prevent them from exercising independent judgment.

  • In re Fox Corp. Derivative Litig.

    Publication Date: 2024-01-08
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Legal Services | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Joel Friedlander, Jeffrey M. Gorris, Christopher M. Foulds, Friedlander & Gorris, P.A., Wilmington, DE; Julie Goldsmith Reiser, Molly J. Bowen, Brendan Schneiderman, Cohen Milstein Sellers & Toll PLLC, Washington, DC; Katherine Lubin Benson, Lieff Cabraser Heimann & Bernstein, LLP, San Francisco, CA; Nicholas Diamond, Gabriel A. Panek, Lieff Cabraser Heimann & Bernstein, LLP, New York, NY; Ellen Rosenblum, Attorney General, Brian A. de Haan, Senior Assistant Attorney General, Oregon Department of Justice, Portland, OR; Andrew E. Blumberg, Daniel E. Meyer, Bernstein Litowitz Berger & Grossman LLP, Wilmington, DE; Ned Weinberger, Labaton Sucharow LLP, Wilmington, DE; Christopher H. Lyons, Tayler D. Bolton, Robbins Geller Rudman & Dowd LLP, Wilmington, DE; Randall J. Baron, David A. Knotts, Robbins Geller Rudman & Dowd LLP, San Diego, CA; Lee Rudy, Eric L. Zagar, Geoffrey C. Jarvis, Kessler Topaz Meltzer & Check, LLP, Radnor, PA; Jeremy Friedman, David Tejtel, Friedman Oster & Tejtel PLLC, Bedford Hills, NY for plaintiffs.
    for defendant:

    Case Number: 2023-0418-JTL

    Court granted the application of a plaintiff team to lead a consolidated derivative action where counsel had organized the stronger litigation team and the selected plaintiffs consistent of public agencies/officials with extensive financial experience.

  • In re FairPoint Ins. Coverage Appeals

    Publication Date: 2024-01-01
    Practice Area: Insurance Law
    Industry: Insurance | Investments and Investment Advisory | Technology Media and Telecom
    Court: U.S. District Court of Delaware
    Judge: District Judge Seitz
    Attorneys: For plaintiff: Kurt M. Heyman, Aaron M. Nelson, Kelly E. Rowe, Heyman Enerio Gattuso & Hirzel LLP, Wilmington, DE; Scott B. Schreiber, William C. Purdue, Samuel I. Ferenc, Matthew L. Farley, Arnold & Porter Kaye Scholer LLP, Washington, D.C.; Bruce E. Jameson, John G. Day, Prickett, Jones, & Elliott, P.A., Wilmington, DE; Tammy Yuen, Juan Luis Garcia, Skarzynski Marick & Black, LLP, New York, NY; Robert J. Katzenstein, Smith Katzenstein & Jenkins LLP, Wilmington, DE; Ronald P. Schiller, Daniel J. Layden, Hangley Aronchik Segal Pudlin & Schiller, Philadelphia, PA; Michael R. Goodstein, Bailey Cavalieri, Columbus, OH; Thomas J. Judge, Jason C. Reichlyn, Dykema Gossett, PLLC, Washington, D.C. for appellants.
    for defendant: Jennifer C. Wasson, Carla M. Jones, Potter Anderson & Corroon LLP, Wilmington, DE; Robin L. Cohen, Keith McKenna, Meredith Elkins, Cohen Ziffer Frenchman & McKenna LLP, New York, NY for appellees.

    Case Number: 478, 2022

    Superior court erred in finding fraudulent transfer claims filed by a bankruptcy litigation trust to be derivative and falling under the definition of a "securities" claim in a corporate insurance policy where such claims only benefitted creditors rather than the company and thus were direct in nature.