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  • Wayne County Employees' Ret. Sys. v. Mavenir, Inc.

    Publication Date: 2019-08-21
    Practice Area: Class Actions | Securities Litigation
    Industry: Legal Services | State and Local Government | Technology Media and Telecom
    Court: U.S. District Court of Delaware
    Judge: District Judge Fallon
    Attorneys: For plaintiff:
    for defendant:
    Case Number: D67672

    The court granted an order appointing the lead plaintiff in this class action suit and approving the plaintiff's choice of counsel, despite defendants' objections due to a conflict of interest involving the law firm that filed the complaint.

  • Keystone Assocs. LLC v. Fulton

    Publication Date: 2019-08-21
    Practice Area: Securities Litigation
    Industry: Investments and Investment Advisory
    Court: U.S. District Court of Delaware
    Judge: District Judge Noreika
    Attorneys: For plaintiff: Timothy R. Dudderar and Jonathan A. Choa, Potter Anderson & Corroon LLP, Wilmington, DE; David J. Jordan and Michael R. Menssen, Stoel Rivers LLP, Salt Lake City, UT for plaintiffs.
    for defendant: Robert J. Katzenstein, Smith Katzenstein & Jenkins LLP, Wilmington, DE; Steven S. Scholes and Peter B. Allport, McDermott Will & Emery LLP, Chicago, IL; John R. Gerstein, Clyde & Co. US LLP, Washington, DC for defendants.
    Case Number: D67677

    Securities fraud claim dismissed where there was no express assignment of a securities fraud claim to confer standing and where the complaint expressly alleged that investment was based on a statement that was not a false representation.

  • AG Oncon, LLC v. Ligand Pharm. Inc.

    Publication Date: 2019-06-05
    Practice Area: Securities Litigation
    Industry: Investments and Investment Advisory | Pharmaceuticals
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Elena C. Norman and Daniel M. Kirshenbaum, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; Keith N. Sambur, Martin G. Durkin, and Andrew T. Gillespie, Holland & Knight, LLP, New York, NY for plaintiffs
    for defendant: David E. Ross, Jr. and R. Garrett Rice, Ross Aronstam & Moritz LLP, Wilmington, DE; Blair Connelly and Zachary L. Rowen, Latham & Watkins LLP, New York, NY for defendant.
    Case Number: D68582

    Convertible note issuer could amend indenture's conversion formula where indenture expressly authorized issuer to conform to the terms of the offering memorandum.

  • Duncan v. Vantage Corp.

    Publication Date: 2019-04-17
    Practice Area: Securities Litigation
    Industry: Investments and Investment Advisory
    Court: U.S. District Court of Delaware
    Judge: District Judge Noreika
    Attorneys: For plaintiff: Catherine A. Gaul and Aaron P. Sayers, Ashby & Geddes, Wilmington, DE; Raymond L. Moss and Michael P. Gilmore, Moss & Gilmore LLP for plaintiff.
    for defendant: Philip A. Rovner and Jonathan A. Choa, Potter Anderson & Corroon LLP, Wilmington, DE; J. Allen Maines, Gregory J. Digel and Caroline Johnson Tanner, Holland & Knight LLP, Atlanta, GA for defendants Askew and Finegold.
    Case Number: D68530

    The court proceeded to consider a motion to dismiss as to individual defendants, even though the corporate defendants filed for bankruptcy.

  • Heritage Handoff Holdings, LLC v. Fontanella

    Publication Date: 2019-03-20
    Practice Area: Business Torts | Securities Litigation
    Industry: Automotive | Manufacturing
    Court: U.S. District Court of Delaware
    Judge: District Judge Andrews
    Attorneys: For plaintiff: John A. Sensing, Potter Anderson & Corroon LLP, Wilmington, DE; Dylan P. Kletter and Kelsey D. Bond, Brown Rudnick LLP, Hartford, CT for plaintiff.
    for defendant: Dominick T. Gattuso and Aaron M. Nelson, Heyman Enerio Gattuso & Hirzel LLP, Wilmington, DE; Marc J. Kurzman; Peter M. Nolin and Damian K. Gunningsmith, Carmody Torrance Sandak & Hennessey LLP, Stamford, CT and New Haven, CT for defendant.
    Case Number: D68501

    Purchaser was entitled to recover on its securities fraud claim based on evidence of misrepresentations and omissions, but its common law fraud claim was precluded by the bootstrapping doctrine.

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  • Lord Abbett Affiliated Fund v. Navient Corp.

    Publication Date: 2019-02-20
    Practice Area: Securities Litigation
    Industry: Financial Services and Banking | Investments and Investment Advisory
    Court: U.S. District Court of Delaware
    Judge: District Judge Noreika
    Attorneys: For plaintiff: Patrick F. Morris, Karen L. Morris and R. Michael Lindsey, Morris and Morris LLC, Wilmington, DE; Ste-ven E. Fineman, Daniel P. Chiplock, Michael J. Miarmi, Richard M. Heimann, Bruce W. Leppla and Sha-ron M. Lee, Liefe Cabraser Heimann & Bernstein, New York, NY for plaintiffs.
    for defendant: Kelly E. Farnan, Richards Layton & Finger, P.A., Wilmington, DE; Peter A. Wald, Abid R. Qureshi, Christopher S. Turner and Christopher R. Harris, Latham & Watkins LLP, Washington, DC for Navient Corp. and individual defendants. Kevin G. Abrams and John M. Seaman, Abrams & Bayliss LLP, Wil-mington, DE; Adam S. Hakki, Daniel C. Lewis and Anthony D. Marinello of Shearman & Sterling LLP for underwriter defendants.
    Case Number: D68465

    Plaintiffs adequately stated claims for securities violations, except with regard to statements that were mere puffery and where plaintiffs failed to demonstrate scienter.

  • Sheldon v. Pinto Tech. Ventures, L.P.

    Publication Date: 2019-02-06
    Practice Area: Corporate Governance | Securities Litigation
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Zurn
    Attorneys: For plaintiff: Thad J. Bracegirdle and Scott B. Czerwonka, Wilks, Lukoff & Bracegirdle, LLC, Wilmington, DE; Jeff Joyce, Joyce & McFarland LLP, Houston, TX for plaintiffs.
    for defendant: Brian C. Ralston and Jacqueline A. Rogers, Potter Anderson Corroon LLP, Wilmington, DE; Danny Da-vid and Rebecca Huddle, Baker Botts LLP, Houston, TX for defendants Terry and Walker. Bruce E. Jameson and Samuel L. Closic, Prickett, Jones & Elliott, P.A., Wilmington, DE; B. Russell Horton, George Brothers Kincaid & Horton, L.L.P., Austin, TX for Pinto Tech., RiverVest and Bay City Capital defendants.
    Case Number: D68451

    Defendants' successful effort to enforce a forum selection clause in the court of another state did not preclude them from arguing that a shareholder action was derivative.

  • Applied Energetics, Inc. v. Farley

    Publication Date: 2019-02-06
    Practice Area: Corporate Entities | Securities Litigation
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Montgomery-Reeves
    Attorneys: For plaintiff: Jason C. Jowers, Meghan A. Adams, and Ian D. McCauley, Morris James LLP, Wilmington, DE; David A. Robinson, Benjamin P. Pugh, and Michael S. Wilde, Enterprise Counsel Group, a Law Corporation, Irvine, CA for plaintiff.
    for defendant: Kathleen M. Miller and Clarissa R. Chenoweth, Smith, Katzenstein & Jenkins LLP, Wilmington, DE; Ryan J. Whalen, Gusrae Kaplan Nusbaum PLLC, New York, NY for defendants.
    Case Number: D68446

    Preliminary injunction restricting transfer of stock allegedly issued in a director's breach of fiduciary duty was granted where company was likely to prove director lacked authority to issue the stock and director issued it at an unreasonably low price.

  • AR Capital, LLC v. XL Specialty Ins. Co.

    Publication Date: 2018-12-26
    Practice Area: Insurance Law | REITS | Securities Litigation
    Industry: Consulting | Insurance | Investments and Investment Advisory
    Court: Delaware Superior Court
    Judge: Judge Carpenter
    Attorneys: For plaintiff: Jennifer C. Wasson and Carla M. Jones, Potter Anderson & Corroon LLP, Wilmington, DE; Robin L. Cohen and Natasha Romagnoli, McKool Smith, PC, New York, NY for plaintiff
    for defendant: Stephen B. Brauerman and Sara E. Bussiere, Bayard, P.A., Wilmington, DE; Joseph D. Jean, Alexander D. Hardiman, and Benjamin D. Tievsky, Pillsbury Winthrop Shaw Pittman LLP, New York, NY for intervenor.
    Case Number: D68398

    Investment manager entitled to coverage under client's policy where endorsement on policy expressly defined manager under the definition of "company" entitled to coverage for securities claims.

  • In re Tangoe, Inc. Stockholders Litig.

    Publication Date: 2018-12-05
    Practice Area: Corporate Governance | Securities Litigation
    Industry: Investments and Investment Advisory | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Kurt M. Heyman and Melissa N. Donimirski, Heyman Enerio Gattuso & Hirzel LLP, Wilmington, DE; Jason M. Leviton and Joel A. Fleming, Block & Leviton LLP, Boston, MA; Jeremy S. Friedman, Spencer Oster, and David F.E. Tejtel, Friedman Oster & Tejtel PLLC, New York, NY for plaintiff
    for defendant: Catherine G. Dearlove and Sarah A. Galetta, Richards, Layton & Finger, P.A., Wilmington, DE; William H. Paine, Timothy J. Perla, Peter A. Spaeth, and Alexandra C. Bourdreau, Wilmer Cutler Pickering Hale and Dorr LLP, Boston, MA for defendants.
    Case Number: D68375

    Stockholder's derivative complaint not dismissed where he adequately pled company failed to inform stockholders prior to their approval and asserted a reasonable claim for breach of duty of loyalty.