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Publication Date: 2024-04-15
Practice Area: Contracts
Industry: Construction | Real Estate
Court: Court of Chancery
Judge: Vice Chancellor Zurn
Attorneys: For plaintiff: Nathan D. Barillo, Fox Rothschild LLP, Wilmington, DE for plaintiffs.
for defendant: Edward J. Fornias, III, Law Office of EJ Fornias, P.A., Wilmington, DE for defendants.
Case Number: 2020-0745-MTZ
Court declined to enforce a settlement against defendants' affiliates who were non-parties to the underlying action, as Ct. Ch. R. 71 could not supply an independent basis to extend jurisdiction over non-parties in the absence of due process.
Publication Date: 2024-04-08
Practice Area: Corporate Governance
Industry: Investments and Investment Advisory | Pharmaceuticals
Court: Court of Chancery
Judge: Vice Chancellor Will
Attorneys: For plaintiff: Kevin M. Gallagher, Andrew L. Milam, Richards, Layton & Finger, P.A., Wilmington, DE, attorneys for plaintiff.
for defendant: Lisa M. Zwally, Greenberg Traurig, LLP, Wilmington, DE, attorney for defendant.
Case Number: 2023-1044-LWW
Purported written consent in lieu of a meeting could not moot stockholders' request for an annual meeting where the law required the removal of incumbent directors before a non-unanimous written consent could fill the vacancies.
Publication Date: 2024-04-08
Practice Area: Corporate Entities
Industry: Investments and Investment Advisory | Software
Court: Court of Chancery
Judge: Vice Chancellor Glasscock
Attorneys: For plaintiff: Sean J. Bellew, Bellew LLC, Wilmington, DE; Scott C. McAdam, Law Office of Scott C. McAdam, Henderson, NV for plaintiffs.
for defendant: Sean A. Meluney, William M. Alleman, Jr., Stephen A. Spence, Meluney Alleman & Spence, LLC, Lewes, DE for defendants.
Case Number: 2022-0861-SG
Court declined to dismiss declaratory judgment and breach of contract claims where plaintiff adequately alleged that defendants failed to fulfill their contractual obligations to provide plaintiff with his creditor and equity rights.
Publication Date: 2024-04-08
Practice Area: Corporate Governance
Industry: E-Commerce | Investments and Investment Advisory | Software
Court: Court of Chancery
Judge: Vice Chancellor Fioravanti
Attorneys: For plaintiff: A. Thompson Bayliss, Eric A. Veres, Abrams & Bayliss LLP, Wilmington, DE for plaintiff.
for defendant: Catherine A. Gaul, Samuel M. Gross, Ashby & Geddes, Wilmington, DE; Bruce L. Silverstein, Malibu, CA for defendants.
Case Number: 2022-0261-PAF
Litigation demand not futile where directors who would give plaintiff a majority lacked any personal or professional connection to the interested controller sufficient to call the directors' independence into question.
Publication Date: 2024-04-08
Practice Area: Corporate Entities
Industry: Automotive | E-Commerce | Investments and Investment Advisory
Court: Court of Chancery
Judge: Chancellor McCormick
Attorneys: For plaintiff: Christine M. Mackintosh, Rebecca A. Musarra, Grant & Eisenhofer, P.A., Wilmington, DE; Kimberly A. Evans, Robert Erikson, Irene R. Lax, Block & Leviton LLP, Wilmington, DE; Jason M. Leviton, Amanda R. Crawford, Block & Leviton LLP, Boston, MA; Ned Weinberger, Mark Richardson, Jiahui (Rose) Wang, Labaton Keller Sucharow LLP, Wilmington, DE; Domenico Minerva, John Vielandi, Labaton Keller Sucharow LLP, New York, NY for plaintiffs.
for defendant: Joseph R. Slights III, Brad D. Sorrels, Shannon E. German, Leah E. León, Wilson Sonsini Goodrich & Rosati, P.C., Wilmington, DE; David E. Ross, Adam D. Gold, R. Garrett Rice, Ross Aronstam & Moritz LLP, Wilmington, DE; Brian M. Lutz, Gibson, Dunn & Crutcher LLP, San Francisco, CA; Colin B. Davis, Katie Beaudin, Gibson, Dunn & Crutcher LLP, Irvine, CA; John L. Reed, Ronald N. Brown, III, Peter H. Kyle, Kelly L. Freund, DLA Piper LLP (US), Wilmington, DE for defendants.
Case Number: 2020-0415-KSJM
Court granted special litigation committee's motion to dismiss derivative action where members were sufficiently independent and disinterested and conducted a seven-month-long investigation that uncovered sufficient evidence to support the decision to move to dismiss.
Law Journal Press | Digital Book
Authors: George Bochetto, David P. Heim, John A. O’Connell, Robert S. Tintner
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Publication Date: 2024-04-01
Practice Area: Mergers and Acquisitions
Industry: Technology Media and Telecom
Court: Court of Chancery
Judge: Chancellor McCormick
Attorneys: For plaintiff: Michael Hanrahan, Corinne Elise Amato, Kevin H. Davenport, Stacey A. Greenspan, Christine N. Chappelear, Prickett, Jones & Elliott, P.A., Wilmington, DE; Lee D. Rudy, Eric L. Zagar, J. Daniel Albert, Kessler Topaz Meltzer & Check, LLP, Radnor, PA for plaintiff.
for defendant: Edward B. Micheletti, Lauren N. Rosenello, Michelle L. Davis, Peyton V. Carper, Claire K. Atwood, Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington, DE; Elena C. Norman, Daniel M. Kirshenbaum, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; Stephen P. Blake, Laura Lin, Simpson Thacher & Bartlett LLP, Palo Alto, CA; Sareen K. Armani, Simpson Thacher & Bartlett LLP, Los Angeles, CA for defendants.
Case Number: 2022-1001-KSJM
Although the Delaware General Corporation Law only required a corporate board to approve and recommend an essentially complete version of a merger agreement, the draft version approved by defendants failed to meet this standard by omitting key terms and ancillary documents repeatedly referenced throughout the agreement.
Publication Date: 2024-04-01
Practice Area: Corporate Governance
Industry: E-Commerce | Technology Media and Telecom
Court: Court of Chancery
Judge: Vice Chancellor Laster
Attorneys: For plaintiff: Gregory V. Varallo, Andrew E. Blumberg, Mae Oberste, Daniel E. Meyer, Bernstein Litowitz Berger & Grossmann LLP, Wilmington, DE; Kimberly A. Evans, Lindsay K. Faccenda, Irene R. Lax, Robert Erickson, Block & Leviton LLP, Wilmington, DE; Jeroen van Kwawegen, Bernstein Litowitz Berger & Grossmann LLP, New York, NY; Jeremy Friedman, David Tejtel, Christopher Windover, Lindsay La Marca, Friedman Oster & Tejtel PLLC, Bedford Hills, NY; Jason Leviton, Block & Leviton LLP, Boston, MA; D. Seamus Kaskela, Adrienne Bell, Kaskela Law LLC, Newtown Square, PA for plaintiffs.
for defendant: Kevin R. Shannon, J. Matthew Belger, Jaclyn C. Levy, Christopher D. Renaud, Justin T. Hymes, Potter Anderson & Corroon LLP, Wilmington, DE; Matthew W. Close, Jonathan B. Waxman, O’Melveny & Myers LLP, Los Angeles, CA; Abby F. Rudzin, Asher Rivner, O’Melveny & Myers LLP, NY, New York; Bradley R. Aronstam, S. Michael Sirkin, Ross Aronstam & Moritz LLP, Wilmington, DE; John A. Neuwirth, Evert J. Christensen, Jr., Stefania D. Venezia, Weil, Gotshal & Manges LLP, New York, NY for defendants.
Case Number: 2023-0449-JTL
Court declined to certify order denying motion to dismiss where the order did not decide novel legal issues or issues of substantial importance and where interlocutory review was unlikely to materially advance the resolution of the litigation.
Publication Date: 2024-03-26
Practice Area: Creditors' and Debtors' Rights
Industry: Biotechnology
Court: Court of Chancery
Judge: Vice Chancellor Fioravanti
Attorneys: For plaintiff: Adam Hiller, Hiller Law, LLC, Wilmington, DE
for defendant: Patrick Costello, Vectis Law, Redwood City, CA for assignee.
Case Number: 2023-1294-PAF
Court denied assignee's motion to appoint appraisers and fix a bond where assignee failed to file a timely inventory and obtained appraisers without court approval.
Publication Date: 2024-03-18
Practice Area: Mergers and Acquisitions
Industry: Health Care
Court: Court of Chancery
Judge: Vice Chancellor Glasscock
Attorneys: For plaintiff: Christopher J. Day, Day Law Group, LLC, Wilmington, DE for plaintiff.
for defendant: Michael J. Maiomone, Gabriella Mouriz, Barnes & Thornburg LLP, Wilmington, DE for defendants.
Case Number: 2022-0728-SG
Chancery court lacked jurisdiction over complaint seeking specific performance where the relief sought by plaintiff was legal in nature and the parties' contract could not confer jurisdiction.
Publication Date: 2024-03-18
Practice Area: Mergers and Acquisitions
Industry: Chemicals and Materials | Energy | Manufacturing
Court: Court of Chancery
Judge: Vice Chancellor Glasscock
Attorneys: For plaintiff: Paul D. Brown, Joseph B. Cicero, Chipman Brown Cicero & Cole, LLP, Wilmington, DE; Janet A. Hendrick, Michele C. Spillman, Angela M. Buchanan, Phillips Murrah P.C., Dallas, TX for plaintiffs.
for defendant: P. Clarkson Collins, Jr., K. Tyler O’Connell, Kirsten Zeberkiewicz, Morris James, Wilmington, DE; Sean D. Walsh, Scott R. Schillings, Matthew K. Holcomb, Hinkle Law Firm, Wichita, KS for defendants.
Case Number: 2021-0659-SG
Contractual limitations period rendered breach of asset purchase agreement facially untimely, and there were no allegations of misconduct by defendants that would warrant tolling the limitation period.
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