• Friddle v. Moehle

    Publication Date: 2024-02-19
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Thad J. Bracegirdle, Emily L. Skaug, Bayard, P.A., Wilmington, Delaware; Brian A. Katz, John G. Moon, Olshan Frome Wolosky LLP, New York, NY for plaintiffs.
    for defendant: Steve L. Caponi, Matthew B. Goeller, K&L Gates LLP, Wilmington, DE; Christopher M. Verdini, K&L Gates LLP, Pittsburgh, PA for defendants.

    Case Number: 2021-0306-SG

    Court interpreted the scope of the parties' joint waiver of their contractual mandatory arbitration provision to include only those claims the parties had asserted in their pleadings at the time they executed the waiver, so as to avoid an unintended waiver of bargained-for rights.

  • 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.

  • Conte v. Greenberg

    Publication Date: 2024-02-19
    Practice Area: Corporate Governance
    Industry: Consumer Products | Manufacturing
    Court: Court of Chancery
    Judge: Vice Chancellor Zurn
    Attorneys: For plaintiff: Thomas A. Uebler, Terisa A. Shoremoun, McCollom D’Emilio Smith Uebler LLC, Wilmington, DE; Melinda A. Nicholson, Nicolas Kravitz, Kahn Swick & Foti, LLC, New Orleans, LA; Roger A. Sachar, Newman Ferrara LLP, New York, NY; Domenico Minerva, Labaton Sucharow LLP, New York, NY for plaintiff.
    for defendant: A. Thompson Bayliss, E. Wade Houston, Eliezer Y. Feinstein, Daniel G. Paterno, Abrams & Bayliss LLP, Wilmington, DE; Brad D. Brian, John M. Gildersleeve, Abraham B. Dyk, Munger, Tolles & Olson LLP, Los Angeles, CA; Kenneth J. Nachbar, Susan W. Waesco, Miranda N. Gilbert, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Abby F. Rudzin, O’Melveny & Myers LLP, New York, NY; Matthew F. Davis, Tyler J. Leavengood, Potter Anderson & Corroon LLP, Wilmington, DE; Kenneth A. O’Brien, Jr., Sheppard Mullin Richter & Hampton LLP, Los Angeles, CA for defendants.

    Case Number: 2022-0633-MTZ MEMORANDUM OPINION

    Plaintiff failed to plead demand futility due to the lack of directors' personal liability for oversight and corporate waste claims, as the failure to implement a formal policy governing executives' personal use of corporate aircraft did not, by itself, amount to bad faith, and any financial loss from personal use constituted a fraction of a percentage of the company's expenses and profits.

  • DiDonato v. Campus Eye Mgmt., LLC

    Publication Date: 2024-02-12
    Practice Area: Corporate Governance
    Industry: Health Care | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Mary F. Dugan, Emily V. Burton, Tanner C. Jameson, Young Conaway Stargatt & Taylor LLP, Wilmington, DE for plaintiff.
    for defendant: Ethan H. Townsend, Daniel T. Menken, Ryan D. Konstanzer, McDermott Will & Emery LLP, Wilmington, DE for defendant.

    Case Number: 2023-0671-LWW

    Manager and member of LLC remained the manager of the company where the LLC agreement required his involvement and approval for any amendment, such that the other investors in the company could not unilaterally amend the agreement to remove the manager.

  • Klein v. Sussman

    Publication Date: 2024-02-12
    Practice Area: Corporate Governance
    Industry: Construction | Real Estate
    Court: Court of Chancery
    Judge: Vice Chancellor Fioravanti
    Attorneys: For plaintiff: Gary E. Junge, Scott E. Chambers, Schmittinger & Rodriguez, P.A., Dover, DE for plaintiff.
    for defendant: Donald L. Gouge, Jr., Donald L. Gouge, Jr., LLC, Wilmington, DE for defendants.

    Case Number: 2020-0189-PAF

    Court found that parties agreed to LLC agreement naming them equal members and co-managers, based on the parties' course of conduct following agreement that was consistent with the material terms of the agreement.

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  • Labyrinth, Inc. v. Urich

    Publication Date: 2024-02-05
    Practice Area: Mergers and Acquisitions
    Industry: Software
    Court: Court of Chancery
    Judge: Vice Chancellor Zurn
    Attorneys: For plaintiff: Blake Rohrbacher, John D. Hendershot, Sandy Xu, Morgan R. Harrison, Richards, Layton & Finger, P.A., Wilmington, DE; Kira N. Lum, Royer Cooper Cohen Braunfeld LLC, Philadelphia, PA for plaintiffs.
    for defendant: Jesse L. Noa, Tyler E. Cragg, Andrew Moshos, Hannah L. Paxton, Potter Anderson & Corroon LLP, Wilmington, DE for defendants.

    Case Number: 2023-0327-MTZ

    Buyers in corporate acquisition adequately pled fraud claims where acquisition agreement expressly stated that seller had not changed its accounting practices even though seller's owners expressly accelerated the collection of accounts receivable, which made attached financials inaccurate.

  • Doubleline Capital GP LLC v. Barach

    Publication Date: 2024-02-05
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Fioravanti
    Attorneys: For plaintiff: Thomas W. Briggs, Jr., Morris Nichols Arsht & Tunnell LLP, Wilmington, DE; Laura D. Smolowe, John M. Gildersleeve, Sara H. Worth, Munger, Tolles & Olson LLP, Los Angeles, CA for plaintiffs.
    for defendant: Michael A. Barlow, Quinn, Emanuel, Urquhart & Sullivan, LLP, Wilmington, DE; Steven G. Madison, Joseph Sarles, William Pilon, Quinn, Emanuel, Urquhart & Sullivan, LLP, Los Angeles, CA for defendants.

    Case Number: 2022-0415-PAF

    Court affirmed arbitration award where defendants failed to present evidence sufficient to show that the arbitral panel's interpretation of the parties' agreements was palpably incorrect.

  • Goldstein v. Denner

    Publication Date: 2024-02-05
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Kevin H. Davenport, John G. Day, Jason W. Rigby, Prickett, Jones & Elliot P.A., Wilmington, DE; R. Bruce McNew, Cooch & Taylor P.A., Wilmington, DE; Christopher H. Lyons, Robbins Geller Rudman & Dowd LLP, Wilmington; DE; Randall J. Baron, Rick T. Atwood, Robbins Geller Rudman & Dowd LLP, San Diego, CA; Brett Middleton, Johnson Fistel, LLP, New York, NY for plaintiff.
    for defendant: Stephen E. Jenkins, Richard D. Heins, Ashby & Geddes, P.A., Wilmington, DE; Tariq Mundiya, Sameer Advani, Richard Li, M. Annie Houghton-Larsen, Willkie Farr & Gallagher LLP, New York, NY for defendants.

    Case Number: 2020-1061-JTL

    Court imposed sanctions in the form of a factual presumption on a key issue, which defendants could only rebut with clear and convincing evidence, after defendants admittedly took no action to preserve electronically stored information in response to litigation hold notices.

  • Perik v. Student Res. Ctr., LLC

    Publication Date: 2024-01-29
    Practice Area: Corporate Entities
    Industry: Education
    Court: Court of Chancery
    Judge: Vice Chancellor Zurn
    Attorneys: For plaintiff: Kevin M. Coen, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE for plaintiff.
    for defendant: Jeffrey J. Lyons, Baker & Hostetler LLP, Wilmington, DE for defendant.

    Case Number: 2023-0813-MTZ

    Court declined to enter summary judgment where there was a genuine issue of material fact as to whether plaintiffs had provided valid consent to the elimination/revocation of their vested advancement rights under the companies' operating agreements upon the amendment/restatement of those agreements.

  • Icahn Partners LP v. deSouza

    Publication Date: 2024-01-29
    Practice Area: Mergers and Acquisitions
    Industry: Biotechnology | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Fioravanti
    Attorneys: For plaintiff: C. Barr Flinn, M. Paige Valeski, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; Peter J. Walsh, Jr., Michael A. Pittenger, Justin T. Hymes, Potter Anderson & Corroon LLP, Wilmington, DE for plaintiffs.
    for defendant: A. Thompson Bayliss, Eric A. Veres, Michael T. Manuel, Abrams & Bayliss LLP, Wilmington, DE for defendants.

    Case Number: 2023-1045-PAF

    Court struck pleadings based on confidential corporate information where information was supplied by director nominated by stockholder although the stockholder did not have a contractual right to designate the director and the director did not serve as the stockholder's fiduciary on the board.