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  • Jaroslawicz v. M&T Bank Corp.

    Publication Date: 2023-09-11
    Practice Area: Securities Litigation
    Industry: Financial Services and Banking | Investments and Investment Advisory
    Court: U.S. District Court of Delaware
    Judge: District Judge Wallach
    Attorneys: For plaintiff: Francis J. Murphy, Jr., Jonathan L. Parshall, Murphy, Spadaro & Landon, Wilmington, DE; Steven M. Coren, Benjamin M. Mather, Matthew R. Williams, Kauffman, Coren & Ress, P.C, Philadelphia, PA for plaintiffs.
    for defendant: Brian M. Rostocki, Anne M. Steadman, Justin M. Forcier, Reed Smith LLP, Wilmington, DE; Jonathan K. Youngwood, Janet A. Gochman, Tyler A. Anger, Katherine A. Hardiman, Simpson, Thacher & Bartlett, New York, NY; Kevin R. Shannon, Jonathan A. Choa, Daniel Rusk, Potter Anderson & Corroon LLP, Wilmington, DE; Tracy Richelle High, Scott A. Foltz, Sullivan & Cromwell LLP, New York, NY for defendants.
    Case Number: 15-00897-EJW

    Court declined to exclude expert report in support of class certification where unreliability of trading model was not fatal to the reliability and admissibility of the report's event study, but plaintiffs' theories of damages in their expert report did not encompass some damages experienced by certain sophisticated investors.

  • Beautycon Media ABC Trust v. New General Market Partners, LLC

    Publication Date: 2023-08-28
    Practice Area: Contracts
    Industry: Investments and Investment Advisory | Technology Media and Telecom
    Court: Delaware Superior Court
    Judge: Judge Adams
    Attorneys: For plaintiff: Counsel: Kevin M. Capuzzi, Benesch, Friedlander, Coplan & Aronoff, LLP, Wilmington, DE for plaintiff.
    for defendant: Paul D. Brown, Mark L. Desgrosseilliers, Chipman Brown Cicero & Cole, LLP, Wilmington, DE; F. Maximilian Czernin, Peter R. Morrison, Squire Patton Boggs, LLP, Cincinnati, OH for defendant.
    Case Number: N22C-12-143 MAA CCLD

    Plaintiff, in its capacity as trustee of plaintiff's company, filed suit against the company's investor for breach of contract, fraudulent inducement, and tortious interference with prospective contractual relations, as well as other claims that had been dismissed. Plaintiff alleged that, when its company had been in a precarious financial situation which had been known by defendant, defendant had intentionally interfered with a prospective deal the company was negotiating with another investor by actively discouraging the deal within

  • Blue Valley, LLC v. Klein

    Publication Date: 2023-08-14
    Practice Area: Contracts
    Industry: Investments and Investment Advisory | Pharmaceuticals
    Court: Delaware Superior Court
    Judge: Judge Rennie
    Attorneys: For plaintiff: John Harris, Esquire, Harry Shenton IV, Berger Harris LLP, Wilmington, DE for plaintiff.
    for defendant: John Klein, Tampa, FL, pro se defendant.
    Case Number: N20C-03-300 SKR CCLD

    The court ruled that it did not need to reach an offensive collateral estoppel analysis because plaintiff had carried its burden of proof for summary judgment on the merits demonstrating a breach of the indemnification agreement at issue.

  • Evolve Growth Initiatives, LLC v. Equilibrium Health Solutions LLC

    Publication Date: 2023-08-07
    Practice Area: Mergers and Acquisitions
    Industry: Health Care | Investments and Investment Advisory | Recruitment and Staffing
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Kenneth J. Nachbar, Alexandra M. Cumings, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Andrew Z. Schwartz, Euripides Dalmanieras, Christian A. Garcia, Foley Hoag LLP, Boston, MA for plaintiffs.
    for defendant: Rudolf Koch, Travis S. Hunter, and Sara M. Metzler, Richards, Layton & Finger, P.A., Wilmington, DE; Motty Shulman, Centricity Law PLLC, New York, NY; Robin A. Henry, Fried, Frank, Harris, Shriver & Jacobson LLP, New York, NY for defendants.
    Case Number: 2022-1113-SG

    Although arbitral panel did not expressly address claims against one defendant in its award imposing joint and several liability against all defendants, that oversight did not rise to the level of significant error necessary to overturn an arbitration award where those theories of liability against the defendant were pled by claimants and thus before the panel for its consideration.

  • SARN SD3, LLC v. Czechoslovak Group A.S.

    Publication Date: 2023-08-07
    Practice Area: Contractual Disputes
    Industry: Energy | Investments and Investment Advisory
    Court: Delaware Superior Court
    Judge: Judge Davis
    Attorneys: For plaintiff: Mackenzie M. Wrobel, Coleen W. Will, Duane Morris LLP, Wilmington, DE; Ryan E. Borneman, Duane Morris LLP, Philadelphia, PA for plaintiff.
    for defendant: Philip Trainer, Jr., Tiffany Geyer Lydon, Ashby & Geddes, Wilmington, DE; Kenneth J. Pfaehler, Dentons US LLP, Washington, DC for defendant.
    Case Number: N17C-12-185 EMD CCLD

    Post-judgment interest did not begin accruing in a case where the court had not granted a final appealable judgment on a partial summary judgment motion.

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  • Atallah v. Malone

    Publication Date: 2023-07-31
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: F. Troupe Mickler IV, Stephen E. Jenkins, Ashby & Geddes, P.A., Wilmington, DE; William J. Fields, Christopher J. Kupka, Samir Shukurov, Fields Kupka & Shukurov LLP, New York, NY; Gustavo F. Bruckner, Samuel J. Adams, Daryoush Behbood, Pomerantz LLP, New York, NY; Brian Schall, The Schall Law Firm, Los Angeles, CA for plaintiffs.
    for defendant: Kevin R. Shannon, Tyler J. Leavengood, Jaclyn C. Levy, Michael C. Gorski, Jr., Lucille E. Wiesner, Potter Anderson & Corroon LLP, Wilmington, DE; Richard B. Harper, Vern Cassin, Thomas E. O’Brien, Alyssa M. Pronley, Kristina Wenner, Baker Botts LLP, New York, NY; Bradley R. Aronstam, S. Reiko Rogozen, Roger S. Stronach, Ross Aronstam & Moritz LLP, Wilmington, DE; Joseph O. Larkin, Matthew P. Majarian, Rupal K. Joshi, Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington, DE; James R. Carroll, Skadden, Arps, Meagher & Flom LLP, Boston, MA for defendants.
    Case Number: 2021-1116-SG

    The court denied defendants' motion to dismiss plaintiffs' derivative complaint which alleged that one defendant had made a sham offer to purchase another defendant's high vote stock to trigger a call right, which in turn resulted in significant monetary benefits to both defendants and harm to nominal defendant.

  • CCSB Fin. Corp. v. Totta

    Publication Date: 2023-07-31
    Practice Area: Corporate Governance
    Industry: Financial Services and Banking | Investments and Investment Advisory
    Court: U.S. District Court of Delaware
    Judge: District Judge Seitz
    Attorneys: For plaintiff: Kevin J. Connors, Aaron E. Moore, Marshall Dennehey Warner Coleman & Goggin, Wilmington, DE; Michael H. McGinley, Rick S. Horvath, Stuart T. Steinberg, Dechert LLP, Philadelphia, PA; Brett A. Scher, Patrick M. Kennell, Kaufman Dolowich & Voluck, LLP, New York, NY for appellant.
    for defendant: Kevin H. Davenport, Eric J. Juray, John G. Day, Prickett, Jones & Elliott, P.A., Wilmington, DE for appellees.
    Case Number: 2021-0173

    Chancery court correctly disregarded corporate charter provision deeming board action "conclusive and binding" where the provision had the effect of exculpating directors from liability for breaching their duty of loyalty to the corporation.

  • Henry v. Wilmington Trust NA

    Publication Date: 2023-07-24
    Practice Area: Labor Law
    Industry: Investments and Investment Advisory | Manufacturing
    Court: U.S. Court of Appeals for the Third Circuit
    Judge: Judge Chagares
    Attorneys: For plaintiff: Sarah M. Adams, Michael J. Prame, Groom Law Group Chartered, Washington, DC; Mark A. Nebrig, Moore & Van Allen, Charlotte, NC; Kevin J. Connors, Marshall Dennehey Warner Coleman & Goggin, P.C., Wilmington, DE for appellants.
    for defendant: Daniel Feinberg, Feinberg Jackson Worthman & Wasow, Berkeley, CA; David A. Felice, Bailey & Glasser LLP, Wilmington, DE. Ryan T. Jenny, Gregory Y. Porter, Bailey & Glasser LLP, Washington, D.C.; Peter K. Stris, Rachana A. Pathak, John R. Stokes, Stris & Maher LLP, Los Angeles, CA; Tillman J. Breckenridge, Stris & Maher LLP, Washington, DC for appellee.
    Case Number: 21-2801

    Nonseverable class action waiver in ESOP plan's arbitration provision rendered provision unenforceable where waiver barred plan participants from pursuing remedies authorized by ERISA.

  • City of Warren Police & Fire Ret. Sys. v. Prudential Fin., Inc.

    Publication Date: 2023-07-17
    Practice Area: Securities Litigation
    Industry: Insurance | Investments and Investment Advisory
    Court: U.S. Court of Appeals for the Third Circuit
    Judge: Judge Phipps
    Attorneys: For plaintiff: Joseph D. Daley, Robbins Geller Rudman & Dowd, San Diego, CA; Peter S. Pearlman, Cohn Lifland Pearlman Herrmann & Knopf, Saddle Brook, NJ; Daniel J. Pfefferbaum, Shawn A. Williams, Robbins Geller Rudman & Dowd, San Francisco, CA; Douglas Wilens, Robbins Geller Rudman & Dowd, Boca Raton, FL for appellant.
    for defendant: David D. Cramer, Tricia B. O’Reilly, Walsh Pizzi O’Reilly & Falanga, Newark, NJ; Maeve L. O’Connor, Susan R. Gittes, Aasiya F.M. Glover, Debevoise & Plimpton, New York, NY for appellees.
    Case Number: 21-1147

    Stockholder sufficiently alleged false or misleading corporate statements where life insurance company reported normal or slightly negative mortality experience only weeks prior to announcing massive increase in reserves, and stockholder had confidential internal information indicating the company had already been contemplating increasing reserves.

  • Restanca, LLC v. House of Lithium, Ltd.

    Publication Date: 2023-07-17
    Practice Area: Mergers and Acquisitions
    Industry: E-Commerce | Investments and Investment Advisory | Transportation
    Court: Court of Chancery
    Judge: Vice Chancellor Fioravanti
    Attorneys: For plaintiff: Daniel A. Mason, Paul, Weiss, Rifkind, Wharton & Garrison LLP, Wilmington, DE; Bruce Birenboim, Jaren Janghorbani, Paul A. Paterson, Kristina A. Bunting, Jonathan C. Day, Paul, Weiss, Rifkind, Wharton & Garrison LLP, New York, NY for plaintiffs.
    for defendant: Daniel M. Silver, Sarah E. Delia, Travis J. Ferguson, Shannon D. Humiston, McCarter & English, LLP for defendant.
    Case Number: 2022-0690-PAF

    Although parties entered binding acquisition agreement, buyer was not obligated to close where seller had yet to meet condition precedent to obtain agreements from all its stockholders to tender their equity.