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  • Wildfire Prods., LP v. Team Lemieux LLC

    Publication Date: 2022-07-12
    Practice Area: Corporate Governance
    Industry: Entertainment and Leisure
    Court: Court of Chancery
    Judge: Vice Chancellor Fioravanti
    Attorneys: For plaintiff: Jon E. Abramczyk, Sabrina M. Hendershot, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Daniel H. Shapira, Robert M. Barnes, Daniel J. Stuart, Marcus & Shapira LLP, Pittsburgh, PA for plaintiff.
    for defendant: Kurt M. Heyman, Jamie L. Brown, Heyman Enerio Gattuso & Hirzel LLP, Wilmington, DE; Patricia L. Glaser, Craig H. Marcus, Nathaniel Wright, Glaser Weil Howard Avchen & Shapiro LLP, Los Angeles, CA for defendants.
    Case Number: D69882

    Professional sports league constitution required arbitration of ownership interest disputes before the league commissioner, and was not superseded by the team owners' partnership agreement since the league was not a party to that partnership agreement.

  • Parseghian v. Frequency Therapeutics, Inc.

    Publication Date: 2022-07-05
    Practice Area: Corporate Governance
    Industry: Biotechnology | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Fioravanti
    Attorneys: For plaintiff: Samuel T. Hirzel, II, Jamie L. Brown, Heyman Enerio Gattuso & Hirzel LLP, Wilmington, DE; Adam C. Ford, Matthew A. Ford, Ford O’Brien, LLP, New York, NY for plaintiffs.
    for defendant: Elena C. Norman, Young Conaway Stargatt & Taylor LLP, Wilmington, DE; Deborah S. Birnbach, Jennifer Burns Luz, Matthew T. White, Goodwin Proctor LLP, Boston, MA; Kevin R. Shannon, Jaclyn C. Levy, Callan R. Jackson, Potter Anderson & Corroon LLP, Wilmington, DE; Seth Goldman, Jacob H. Hupart, Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C., New York, NY for defendants.
    Case Number: D69871

    Breach of fiduciary duty claim against company CEO dismissed where there were no factual allegations regarding the actual steps the CEO purportedly took to block plaintiff stockholders' efforts to sell their shares or that the CEO was even aware plaintiffs were seeking to transfer their stock.

  • In re Vaxart, Inc. Stockholder Litig.

    Publication Date: 2022-06-21
    Practice Area: Corporate Governance
    Industry: Pharmaceuticals
    Court: Court of Chancery
    Judge: Vice Chancellor Fioravanti
    Attorneys: For plaintiff: Stephen E. Jenkins, F. Troupe Mickler, IV, Ashby & Geddes, P.A., Wilmington, DE; Gregory V. Varallo, Bernstein Litowitz Berger & Grossmann LLP, Wilmington, DE; Jeroen van Kwawegen, Daniel E. Meyer, Margaret Sanborn-Lowing, Bernstein Litowitz Berger & Grossmann LLP, New York, NY; Gustavo F. Bruckner, Samuel J. Adams, Daryoush Behbood, Pomerantz LLP, New York, NY; Sascha N. Rand, Rollo C. Baker, IV, Silpa Maruri, Jesse Bernstein, Charles H. Sangree, Quinn Emanuel Urquhart & Sullivan, LLP, New York, NY; Stanley D. Bernstein, Matthew Guarnero, Bernstein Liebhard LLP, New York, NY; William J. Fields, Christopher J. Kupka, Samir Shukurov, Fields Kupka & Shukurov LLP, New York, NY for plaintiffs.
    for defendant: Brock E. Czeschin, Andrew L. Milam, Richards Layton & Finger, P.A., Wilmington, DE; Riccardo DeBari, Renee Zaytsev, Thompson Hine, New York, NY; Matthew F. Davis, Abraham C. Schneider, Potter Anderson & Corroon LLP, Wilmington, DE; Douglas A. Rappaport, Kaitlin D. Shapiro, Elizabeth C. Rosen, Madeleine R. Freeman, Akin Gump Strauss Hauer & Feld LLP, New York, NY for defendants.
    Case Number: D69856

    Company's selection to a primate study of its proposed vaccine did not constitute material information to the stockholders' approval of amendments to the equity incentive plan that allowed directors to issue themselves options.

  • Centene Corp. v. Acellion, Inc.

    Publication Date: 2022-04-12
    Practice Area: Contractual Disputes
    Industry: Health Care | Software
    Court: Court of Chancery
    Judge: Vice Chancellor Fioravanti
    Attorneys: For plaintiff: Paul J. Lockwood, Ryan M. Lindsay, Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington, DE; William E. Ridgway, Skadden, Arps, Slate, Meagher & Flom LLP, Chicago, IL; Peter B. Morrison, Zachary M. Faigen, Skadden, Arps, Slate, Meagher & Flom LLP, Los Angeles, CA for plaintiffs.
    for defendant: Raymond J. DiCamillo, Richards, Layton & Finger, P.A., Wilmington, DE; Michael Rubin, Melanie Blunschi, Latham & Watkins LLP, San Francisco, CA; Serrin Turner, Latham & Watkins LLP, New York, NY for defendant.
    Case Number: D69775

    The court held plaintiffs' claims were subject to a forum selection clause for venue in three California counties.

  • Gower v. Trux, Inc.

    Publication Date: 2022-03-08
    Practice Area: Corporate Governance
    Industry: Software
    Court: Court of Chancery
    Judge: Vice Chancellor Fioravanti
    Attorneys: For plaintiff: Brandon W. McCune, Blank Rome LLP, Wilmington, DE; Patrick J. Hannon, Hartley Michon Robb Hannon, LLP, Boston, MA for plaintiff.
    for defendant: Richard M. Beck, Sean M. Brennecke, Klehr Harrison Harvey Branzburg LLP, Wilmington, DE; Lawrence P. Murray, Gregory Paonessa, Burns & Levinson LLP, Boston, MA; Kevin J. Mangan, Womble Bond Dickinson (US) LLP, Wilmington, DE; Hayden J. Silver, III, Womble Bond Dickinson (US) LLP, Raleigh, NC; S. Michael Sirkin, R. Garrett Rice, Ross Aronstam & Moritz LLP, Wilmington, DE; Scott C. Ford Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, P.C., Boston, MA; Samuel T. Hirzel, Elizabeth A. DeFelice, Heyman Enerio Gattuso & Hirzel LLP, Wilmington, DE; Kevin T. Peters, Michael D. Brier, Gesmer Updegrove LLP, Boston, MA for defendants.
    Case Number: D69734

    The court held that plaintiff adequately pled a breach of contract claim where he alleged the applicable agreement contained an unambiguous requirement that notice of share sales be given to all stockholders.

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    District of Columbia Legal Malpractice Law 2024

    Authors: Shari L. Klevens, Alanna G. Clair

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  • Harcum v. Lovoi

    Publication Date: 2022-01-18
    Practice Area: Corporate Governance
    Industry: Energy | Mining and Resources
    Court: Court of Chancery
    Judge: Vice Chancellor Fioravanti
    Attorneys: For plaintiff: Blake A. Bennett, Cooch and Taylor, P.A., Wilmington, DE; Michael J. Palestina, Kahn Swick & Foti, LLC, New Orleans, LA; Juan E. Monteverde, Miles D. Schreiner, Monteverde & Associates PC, New York, NY for plaintiff.
    for defendant: Rolin P. Bissell, James M. Yoch, Jr., Alberto E. Chávez, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; Michael C. Holmes, Virginia DeBeer, Vinson & Elkins L.L.P., Dallas, TX for defendants.
    Case Number: D69678

    The court held that plaintiffs' complaint failed to state causes of action against alleged controlling and conflicted stockholders and directors for breach of fiduciary duties when they approved a merger.

  • Rummel Klepper & Kahl, LLP v. Delaware River & Bay Auth.

    Publication Date: 2022-01-18
    Practice Area: Dispute Resolution
    Industry: Construction
    Court: Court of Chancery
    Judge: Vice Chancellor Fioravanti
    Attorneys: For plaintiff: Patrick M. McGrory, Tighe & Contrell, P.A., Wilmington, DE for plaintiff.
    for defendant: Donna L. Culver, Morris, Nichols, Arsht & Tunnel LLP, Wilmington, DE; Richard W. Hunt, Ashley H. Buono, Parker Mccay P.A., Mt. Laurel, NJ for defendant.
    Case Number: D69680

    The court held that the agreement made between the parties clearly called for arbitration.

  • In Re Vaxart Inc. Stockholder Litig.

    Publication Date: 2021-12-14
    Practice Area: Corporate Governance
    Industry: Biotechnology | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Fioravanti
    Attorneys: For plaintiff: Stephen E. Jenkins, F. Troupe Mickler, IV, Ashby & Geddes, P.A., Wilmington, DE; Gregory V. Varallo, Bernstein Litowitz Berger & Grossmann LLP, Wilmington, DE; Jeroen van Kwawegen, Daniel E. Meyer, Margaret Sanborn-Lowing, Bernstein Litowitz Berger & Grossmann LLP, New York, NY; Gustavo F. Bruckner, Samuel J.Adams, Daryoush Behbood, Pomerantz LLP, New York, NY; Sascha N. Rand, Rollo C. Baker, IV , Silpa Maruri, Jesse Bernstein, Charles H. Sangree, Quinn Emanuel Urquhart & Sullivan, LLP, New York, NY; Stanley D. Bernstein, Matthew Guarnero, Bernstein Liebhard LLP, New York, NY; William J. Fields, Christopher J. Kupka, Samir Shukurov, Fields Kupka & Shukurov LLP, New York, NY for plaintiffs.
    for defendant: Brock E. Czeschin, Andrew L. Milam, Richards Layton & Finger, P.A., Wilmington, DE; Riccardo DeBari, Renee Zaytsev, Mendy Pie-karski, Thompson Hine, New York, NY; Matthew F. Davis, Abraham C. Schneider, Potter Anderson & Corroon LLP, Wilmington, DE; Douglas A. Rappaport, Kaitlin D. Shapiro, Elizabeth C. Rosen, Madeleine R. Freeman, Akin Gump Strauss Hauer & Feld LLP, New York, NY for defendants.
    Case Number: D69639

    The court held that plaintiff shareholders were required to make a demand on the board prior to filing suit. Because they did not make a demand, their claims failed. Motion to dismiss granted.

  • InTeam Assocs. v. Heartland Payment Sys., LLC

    Publication Date: 2021-11-16
    Practice Area: Contracts
    Industry: Financial Services and Banking | Consulting | Software
    Court: Court of Chancery
    Judge: Vice Chancellor Fioravanti
    Attorneys: For plaintiff: Thad J. Bracegirdle, Bayard, P.A., Wilmington, DE; David A. Battaglia, Gibson, Dunn & Crutcher LLP, Los Angeles, CA for plaintiff.
    for defendant: Jeffrey L. Moyer, Travis S. Hunter, Nicole K. Pedi, Richards Layton & Finger, P.A., Wilmington, DE for defendant.
    Case Number: D69608

    The court held that plaintiff failed to show that defendant engaged in contemptuous conduct constituting a violation of a previously issued court order under the preponderance of the evidence standard for contempt claims.

  • Pacira Biosciences, Inc. v. Fortis Advisors LLC

    Publication Date: 2021-11-09
    Practice Area: Mergers and Acquisitions
    Industry: Biotechnology | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Fioravanti
    Attorneys: For plaintiff: Lisa A. Schmidt, Raymond J. DiCamillo, Megan E. O’Connor, Richards, Layton & Finger, P.A., Wilmington, DE; Randy M. Mastro, Declan T. Conroy, Gibson, Dunn & Crutcher LLP, New York, NY for plaintiffs.
    for defendant: R. Judson Scaggs, Jr., Lauren K. Neal, Sarah P. Kaboly, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Christopher J. Marino, Davis Malm & D’agostine, P.C., Boston, MA; Henry E. Gallagher, Jr., Shaun Michael Kelly, Jarrett W. Horowitz, Connolly Gallagher LLP, Wilmington, DE for defendants.
    Case Number: D69603

    Claims that former owners and employees of acquired company improperly interfered with acquirer's operation of the business were dismissed where the parties' merger agreement contained no express non-compete/non-interference language and defendants' cited actions did not rise to the level of bad faith interference or communication with the acquirer's employees.