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  • In Re Straight Path Commc'ns Inc. Consolidated Stockholder Litig.

    Publication Date: 2018-07-11
    Practice Area: Corporate Governance | Mergers and Acquisitions
    Industry: Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Ned Weinberger and Thomas Curry, Labaton Sucharow LLP, Wilmington, DE; March Lebovitch, Edward Timlin, John Vielandi, and David MacIsaac, Bernstein Litowitz Berger & Grossman LLP, New York, NY; Vincent R. Cappucci and Joshua K. Porter, Entwistle & Cappucci LLP, New York, NY, attorneys for plaintiffs
    for defendant: Rudolf Koch, Kevin M. Gallagher, Sarah A. Clark, and Anthony M. Calvano, Richards, Layton & Finger, P.A., Wilmington, DE; William Ohlemeyer, Edward Normand, and Jason Cyrulnik, Boies Schiller Flexner LLP, Armonk, NY; Kevin G. Abrams, Michael A. Barlow, and April M. Kirby, Abrams & Bayliss, Wilmington, DE; Greg A. Danilow, Seth Goodchild, and Thomas G. James, Weil, Gotshal & Manges LLP, New York, NY, attorneys for defendants.
    Case Number: D68207

    Claim that controlling stockholder improperly used influence to acquire company asset in exchange for approving sale of the company was a direct claim that could be brought by stockholders since they would have received consideration for the asset but for the controller's conduct.

  • In re Hansen Med., Inc.

    Publication Date: 2018-07-04
    Practice Area: Corporate Governance | Mergers and Acquisitions
    Industry: Biotechnology
    Court: Court of Chancery
    Judge: Vice Chancellor Montgomery-Reeves
    Attorneys: For plaintiff: Carmella P. Keenor, Carl L. Stine, Matthew Insley-Pruitt and Adam M. Blander for plaintiff
    for defendant: Stephen C. Norman, Brian C. Ralston, Jacqueline A. Rogers, Sara B. Brody and Matthew J. Dolan for defendants Vance and Lowe; Raymond J. DiCamillo, Sarah A. Clark, Ryan P. Durkin, Rocky C. Tsai, John D. Donovan, Jr. and Martin J. Crisp for defendant Auris Surgical Robotics, Inc.; C. Barr Flinn, Kathaleen S. McCormick, Richard J. Thomas, M. Paige Valeski, Tariq Mundiya, Benjamin P. McCallen and Casey Donnelly for remaining defendants.
    Case Number: D68201

    Minority stockholders in this merger case alleged reasonably conceivable claims for breach of fiduciary duty, but not for aiding and abetting.

  • Ashland LLC v. The Samuel J. Heyman 1981 Continuing Trust for Lazarus S. Heyman

    Publication Date: 2018-07-04
    Practice Area: Contracts | Environmental Law | Mergers and Acquisitions
    Industry: Chemicals and Materials
    Court: Delaware Superior Court
    Judge: Judge Davis
    Attorneys: For plaintiff: Christopher Viceconte, Gibbons P.C., Wilmington, DE; Michael R. Griffinger, William S. Hatfield, and Camille V. Otero, Gibbons P.C., Newark, NJ, attorneys for plaintiffs
    for defendant: Kevin G. Abrams, John M. Seaman, and April M. Ferraro, Abrams & Bayliss LLP, Wilmington, DE; Andrew J. Rossman, Jonathan B. Oblak, and Sylvia E. Simson, Quinn Emanuel Urquhart & Sullivan, LLP, New York, NY, attorneys for defendants.
    Case Number: D68198

    Motion to dismiss fraud claims denied where supported by allegations relating back to transaction pled in original complaint.

  • Edinburgh Holdings, Inc. v. Educ. Affiliates, Inc.

    Publication Date: 2018-06-20
    Practice Area: Contracts | Mergers and Acquisitions
    Industry: Education
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Ryan P. Newell and Kyle Evans Gay, Connolly Gallagher LLP, Wilmington, DE; Lee M. Whitman and Samuel A. Slater, Wyrick Robbins Yates & Ponton LLP, Raleigh, NC, attorneys for plaintiff
    for defendant: Douglas D. Herrmann and Christopher B. Chuff, Pepper Hamilton LLP, Wilmington, DE, attorneys for defendants.
    Case Number: D68183

    Breach of implied covenant of good faith and fair dealing, fraudulent inducement, and breach of fiduciary duty claims dismissed as improperly duplicative of breach of contract claim where alleged implied covenants, fiduciary duties, and fraudulent inducement solely involved opposing party's contractual obligations.

  • City of N. Miami Beach Gen. Emps.' Ret. Plan v. Dr Pepper Snapple Grp., Inc.

    Publication Date: 2018-06-13
    Practice Area: Mergers and Acquisitions
    Industry: Food and Beverage
    Court: Court of Chancery
    Judge: Chancellor Bouchard
    Attorneys: For plaintiff: Michael J. Barry, Jeff A. Almeida, and Laina M. Herbert, Grant & Eisenhofer P.A., Wilmington, DE; Mark Lebovitch and John Vielandi, Bernstein Litowitz Berger & Grossman LLP, New York, NY, attorneys for plaintiffs
    for defendant: S. Mark Hurd, Melissa A. DiVincenzo, Eric S. Klinger-Wilensky, and Alexandra Cumings, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Brian A. Herman, Morgan, Lewis & Bockius LLP, New York, NY; Jason H. Wilson, Morgan, Lewis & Bockius LLP, Philadelphia, PA; Paul J. Lockwood, Joseph O. Larkin, Sarah R. Martin, Alyssa S. O'Connell, and Michelle L. Davis, Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington, DE, attorneys for defendants.
    Case Number: D68175

    Stockholders were not entitled to statutory right of appraisal where their stock was not in a constituent corporation as the merger was being effected by a merger subsidiary and where stockholders would retain their shares following merger.

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  • In re Energy Transfer Equity, L.P. Unitholder Litig.

    Publication Date: 2018-05-30
    Practice Area: Class Actions | Mergers and Acquisitions | Securities Litigation
    Industry: Energy
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Michael Hanrahan, Paul A. Fioravanti, Jr., Kevin H. Davenport, Samuel L. Closic, and Eric J. Juray, Prickett, Jones & Elliott, P.A., Wilmington, DE; Marc A. Topaz, Lee D. Rudy, Eric L. Zagar, Michael C. Wagner, and Grant D. Goodhart, III, Kessler Topaz Meltzer & Check, LLP, Radnor, PA, attorneys for plaintiffs
    for defendant: Rolin P. Bissel, James M. Yoch, Jr., and Benjamin M. Potts, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; Michael C. Holmes, John C. Wander, Craig E. Zieminski, and Andrew E. Jackson, Vinson & Elkins LLP, Dallas, TX; David E. Ross and Benjamin Z. Grossberg, Ross Aronstam & Moritz LLP, Wilmington, DE; M. Scott Barnard, Michelle Reed, and Lauren E. York, Akin Gump Strauss Hauer & Feld LLP, Dallas, TX, attorneys for defendants.
    Case Number: D68160

    Unitholders' complaint challenging private issuance of securities to insiders established unfairness of transaction, but did not warrant equitable relief cancelling the transaction where partnership was not injured by transaction.

  • LVI Grp. Inv., LLC v. NCM Grp. Holdings, LLC

    Publication Date: 2018-04-18
    Practice Area: Business Torts | Civil Procedure | Mergers and Acquisitions
    Industry: Construction
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Rudolf Koch, Matthew W. Murphy, and Matthew D. Perri, Richards, Layton & Finger, P.A., Wilmington, DE; Steven C. Florsheim, Greg Shinall, Daniel A. Shmikler, Michael G. Dicker, and Trevor K. Scheetz, Sperling & Slater, P.C., Chicago, IL, attorneys for plaintiff
    for defendant: Richard D. Heins, Philip Trainer, Jr., and Hayley M. Lenahan, Ashby & Geddes, Wilmington, DE; Stephen Novack, Donald A. Tarkington, Andrew D. Campbell, Elizabeth C. Wolicki, and Yvette V. Mishev, Novack and Macey, LLP, Chicago, IL, attorneys for defendants.
    Case Number: D68112

    Fraud complaint against majority stakeholder of merged corporation, and the stakeholders principals, maintained where counterparty to merger pled that defendants intentionally directed falsification of merged corporations pre-merger financials.

  • In re Tesla Motors, Inc. Stockholders Litig.

    Publication Date: 2018-04-11
    Practice Area: Corporate Governance | Mergers and Acquisitions
    Industry: Automotive | Energy | Manufacturing
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Jay W. Eisenhofer, James J. Sabella, Michael Hanrahan, Paul A. Fioravanti, Jr., Samuel L. Closic, Ned Weinberger, Ryan T. Keating, Thomas, Curry, Joel Friedlander, Jeffrey M. Gorris, Justin S. Brooks, Randall J. Baron, David T. Wissbroecker, Maxwell R. Huffman, Lee D. Rudy, Eric L. Zagar, Robin Win-chester, Kristen L. Ross, Mark Lebovitch and Jeroen van Kwawegen for plaintiffs
    for defendant: David E. Ross, Garrett B. Moritz, Benjamin Z. Grossberg, William Savitt, Graham W. Meli, Steven Winter and David E. Kirk for defendants.
    Case Number: D68107

    Plaintiffs in this derivative action alleged sufficient facts to show that a minority stockholder was actually a controlling stockholder due to the amount of influence he had over the company and the board.

  • In re Rouse Prop. Inc., Fiduciary Litig.,

    Publication Date: 2018-03-21
    Practice Area: Corporate Governance | Mergers and Acquisitions
    Industry: Real Estate
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Stuart M. Grant, Cynthia A. Calder, Nathan A. Cook, and Michael T. Manuel, Grant & Eisenhofer P.A., Wilmington, DE; Jason M. Leviton and Bradley Vettraino, Block & Leviton LLP, Boston, MA, attorneys for plaintiffs;
    for defendant: Stephen C. Norman, Kevin R. Shannon, and Jaclyn C. Levin, Potter Anderson & Corroon LLP, Wilmington, DE; Andrew W. Stern, Jon W. Muenz, and Leah R. Milbauer, Sidley Austin LLP, New York, NY; Kevin G. Abrams, Daniel R. Ciarrocki, Matthew L. Miller, Abrams & Bayliss, LLP, Wilmington, DE; John A. Neuwirth, Seth Goodchild, Evert J. Christensen, Matthew S. Connors, Weil, Gotshal & Manges LLP, New York, NY, attorneys for defendants.
    Case Number: D68080

    Stockholders breach of fiduciary duty claims arising from merger transaction with alleged controlling minority stockholder brought against board and alleged controller failed where allegations insufficient to find that alleged controller exerted control or dominance over board or directors or special committee designated to negotiate merger.

  • In re ExamWorks Group, Inc.

    Publication Date: 2018-03-07
    Practice Area: Discovery | Mergers and Acquisitions
    Industry: Consulting | Health Care
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Stuart M. Grant, Michael J. Barry, Jeff A. Almeida, Kimberly A. Evans, Rebecca Musarra, Vincent R. Cappucci and Jordan A. Cortez for petitioners
    for defendant: Raymond J. DiCamillo, Kevin M. Gallagher, Ryan P. Durkin, Michele D. Johnson and Kristin N. Murphy for respondent.
    Case Number: D68068

    Parties who provided late discovery without adequate explanation engaged in discovery abuse.