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Publication Date: 2024-06-11
Practice Area: Labor Law
Industry: Energy
Court: Court of Chancery
Judge: Vice Chancellor Fioravanti
Attorneys: For plaintiff: Michael C. Heyden, Jr., Gordon Rees Scully Manskuhani, LLP, Wilmington, DE; Peggy A. Tomsic, Bryant L. Watson, Magleby, Cataxinos & Greenwood, Salt Lake City, UT for plaintiff.
for defendant: Timothy R. Dudderar, Potter Anderson & Corroon LLP, Wilmington, DE; Alan C. Bradshaw, Chad R. Derum, Mitch M. Longson, Manning Curtis Bradshaw & Bednar PLLC, Salt Lake City, UT for defendant.
Case Number: 2020-0988-PAF
Company breached equity incentive agreement by cancelling employee's award when they transferred to another company under common control with the employer and thus continued in service to the "company group."
Publication Date: 2024-06-11
Practice Area: Damages
Industry: Technology Media and Telecom
Court: Court of Chancery
Judge: Vice Chancellor Will
Attorneys: For plaintiff: Joseph L. Christensen, Meghan M. Dougherty, Michael D. Bell, Christensen & Dougherty LLP, Wilmington, DE; Edward D. Totino, Benjamin W. Turner, Baker McKenzie LLP, Los Angeles, CA; Conal Doyle, Doyle Law APC, Beverly Hills, CA for plaintiff.
for defendant: Robert L. Burns, Kyle H. Lachmund, Nicole M. Henry, Richards, Layton & Finger, P.A., Wilmington, DE; Jennifer Selendy, Joshua S. Margolin, David A. Coon, Selendy Gay PLLC, New York, NY for defendants.
Case Number: 2021-0595-LWW
Court rejected use of highest intermediate price method to calculate former employee's losses from improperly applied lockup where there was an adequate record to calculate the average stock price over a reasonable trading period.
Publication Date: 2024-06-11
Practice Area: Corporate Governance
Industry: Insurance
Court: Court of Chancery
Judge: Vice Chancellor Laster
Attorneys: For plaintiff: Peter B. Andrews, Craig J. Springer, David M. Sborz, Andrew J. Peach, Jackson E. Warren, Jacob D. Jeifa, Andrews & Springer LLC, Wilmington, DE; Steven J. Purcell, Robert H. Lefkowitz, Purcell & Lefkowitz LLP, New York, NY for plaintiff.
for defendant: S. Mark Hurd, Lauren K. Neal, Alec F. Hoeschel, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE for defendant.
Case Number: 2023-0150-JTL
Although founder pre-approval requirements violated provisions of the Delaware General Corporation Law, founders' post-lawsuit agreement to defer to unanimous approval of independent director committee was a sufficient mechanism to defeat facial challenges to the requirements.
Publication Date: 2024-06-11
Practice Area: Corporate Governance
Industry: Automotive | Manufacturing | Technology Media and Telecom
Court: Court of Chancery
Judge: Vice Chancellor McCormick
Attorneys: For plaintiff: Gregory V. Varallo, Glenn R. McGillivray, Bernstein Litowitz Berger & Grossmann LLP, Wilmington, DE; Peter B. Andrews, Craig J. Springer, David M. Sborz, Andrew J. Peach, Jackson E. Warren, Andrews & Springer LLC, Wilmington, DE; Catherine A. Gaul, Ashby & Geddes, P.A., Wilmington, DE; John L. Reed, Ronald N. Brown, III, Caleb G. Johnson, Daniel P. Klusman, DLA Piper LLP (US), Wilmington, DE for plaintiff.
for defendant: David E. Ross, Garrett B. Moritz, Thomas C. Mandracchia, Ross Aronstam & Moritz LLP, Wilmington, DE; William M. Lafferty, Susan W. Waesco, Ryan D. Stottmann, Miranda N. Gilbert, Jacob M. Perrone, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Rudolf Koch, John D. Hendershot, Kevin M. Gallagher, Andrew L. Milam, Richards, Layton & Finger, P.A., Wilmington, DE for defendants.
Case Number: 2018-0408-KSJM
Court denied plaintiff's motions to expedite resolution of post-trial issues based on defendants' assertion that an upcoming shareholder proxy vote would not affect the litigation.
Publication Date: 2024-06-11
Practice Area: Mergers and Acquisitions
Industry: Education | Investments and Investment Advisory | Technology Media and Telecom
Court: Court of Chancery
Judge: Vice Chancellor Glasscock
Attorneys: For plaintiff: Thaddeus J. Weaver, Dilworth Paxson LLP, Wilmington, DE; Thomas S. Biemer, Patrick M. Northen, Dilworth Paxson LLP, Philadelphia, PA for plaintiff.
for defendant: Robert L. Burns, Kyle H. Lachmund, Richards Layton & Finger, P.A., Wilmington, DE; Thomas A. Uebler, McCollom D’Emilio Smith Uebler LLC, Wilmington, DE; Steven M. Hecht, Rolnick Kramer Sadighi LLP, New York, NY for defendants.
Case Number: 2022-0719-SG
Investor's contractual claims arising from company's acquisition failed where investor failed to adequately plead a frustration of its contractual rights by defendants or the existence of such rights under the parties' agreements.
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Publication Date: 2024-06-11
Practice Area: Corporate Entities
Industry: Electronics | Investments and Investment Advisory | Software
Court: Court of Chancery
Judge: Vice Chancellor Glasscock
Attorneys: For plaintiff: Thaddeus J. Weaver, Dilworth Paxson LLP, Wilmington, DE for plaintiff.
for defendant: Robert L. Burns, Kyle H. Lachmund, Craig K. Ferrere, Naseeba Saeed, Richards Layton & Finger, P.A., Wilmington, DE for defendant.
Case Number: 2023-0768-SG
Court declined to grant petition for appointment of receiver where petitioners potentially lacked standing and failed to demonstrate circumstances warranting a receivership.
Publication Date: 2024-06-03
Practice Area: Consumer Protection
Industry: E-Commerce | Entertainment and Leisure
Court: Court of Chancery
Judge: Vice Chancellor Zurn
Attorneys: For plaintiff: Ryan D. Stottmann, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE for plaintiff.
for defendant: Robert J. Kriner, Jr., Chimicles, Schwartz Kriner & Donaldson-Smith LLP, Wilmington, DE for defendant.
Case Number: 2024-0040-MTZ
Court denied confidentiality of litigation record motion where parties could not rely on a contractual provision to demand confidentiality and movant failed to overcome the presumption in favor of public access.
Publication Date: 2024-06-03
Practice Area: Securities Litigation
Industry: Health Care | Investments and Investment Advisory | Software
Court: Court of Chancery
Judge: Judge Wallace
Attorneys: For plaintiff: Kevin M. Coen, Miranda N. Gilbert, Morris, Nichols, Arsht & Tunnell, Wilmington, DE; Joseph P. Rockers, Justin D. Ward, Goodwin Procter, Boston, MA for plaintiffs.
for defendant: Shannon E. German, Jeremy W. Gagas, Emmanuel J. Burrell, Wilson Sonsini Goodrich & Rosati, Wilmington, DE for defendant.
Case Number: 2023-1253-PRW
Investor adequately pled fraud claim by alleging that entrepreneur intentionally misappropriated a third party's intellectual property despite making contractual representations as to the validity of their ownership of their IP.
Publication Date: 2024-06-03
Practice Area: Contracts
Industry: Biotechnology | Distribution and Wholesale
Court: Court of Chancery
Judge: Vice Chancellor Cook
Attorneys: For plaintiff: Ethan H. Townsend, Daniel T. Menken, Ryan D. Konstanzer, McDermott Will & Emery LLP, Wilmington, DE for plaintiff.
for defendant: Kelly A. Green, Jason Z. Miller, Smith, Katzenstein & Jenkins LLP, Wilmington, DE for defendant.
Case Number: 2023-1189-NAC
Court denied reargument on cross-motions for injunctive relief where movant advanced implausible interpretation of the parties' contract and where the court reasonably declined to impose the implied covenant of good faith in exercising contractual discretion between sophisticated parties.
Publication Date: 2024-06-03
Practice Area: Mergers and Acquisitions
Industry: Energy | Investments and Investment Advisory
Court: Court of Chancery
Judge: Vice Chancellor Laster
Attorneys: For plaintiff: Ned Weinberger, Brendan W. Sullivan, Labaton Keller Sucharow LLP, Wilmington, DE; Gregory V. Varallo, Bernstein Litowitz Berger & Grossmann LLP, Wilmington, DE; Stephen E. Jenkins, Marie M. Degnan, Ashby & Geddes, P.A., Wilmington, DE; Jeroen van Kwawegen, Lauren A. Ormsbee, Thomas G. James, Margaret Sanborn-Lowing, Bernstein Litowitz Berger & Grossmann LLP, New York, NY for plaintiffs.
for defendant: Martin S. Lessner, James M. Yoch, Jr., Kevin P. Rickert, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; Brian J. Massengill, Michael Olsen, Matthew C. Sostrin, Linda X. Shi, Mayer Brown LLP, Chicago, IL for defendant.
Case Number: 2018-0484-JTL
Court held buyer equally liable for seller's officers' breaches of fiduciary duties where buyer's culpability arose from its breaches of its contractual obligations under a standstill agreement with the seller.
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