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  • Valley Joist BD Holdings, LLC v. EBSCO Indus., Inc.

    Publication Date: 2022-01-04
    Practice Area: Business Torts
    Industry: Manufacturing
    Court: Delaware Supreme Court
    Judge: Justice Montgomery-Reeves
    Attorneys: For plaintiff: Joseph B. Cicero, Aidan T. Hamilton, Chipman Brown Cicero & Cole, LLP, Wilmington, DE; Jeffrey H. Zaiger, Judd Lindenfeld, Zaiger LLC, Stamford, CT for appellant.
    for defendant: John P. DiTomo, Sara Toscano, Morris, Nichols, Arsht, & Tunnell LLP, Wilmington, DE for appellee.
    Case Number: D69664

    The court held that appellant pled fraud with sufficient particularity where it alleged that appellee's transition employee told appellant's employee that the structural problems with a building were known for months prior to closing on the sale of the building and that there were repair estimates consistent with that knowledge.

  • Noranda Aluminum Holding Corp. v. XL Ins. Am., Inc.

    Publication Date: 2021-12-28
    Practice Area: Insurance Litigation
    Industry: Insurance | Manufacturing
    Court: Delaware Supreme Court
    Judge: Justice Traynor
    Attorneys: For plaintiff: David J. Baldwin, Peter C. McGivney, Berger Harris LLP, Wilmington, DE; David B. Goodwin, Christine S. Haskett, Covington & Burling LLP, San Francisco, CA for appellant.
    for defendant: Matthew Denn, Kelly Freund, John L. Reed, DLA Piper LLP (US), Wilmington, DE; Rachel A.H. Horton, DLA Piper LLP (US), Philadelphia, PA; Aidan M. McCormack, DLA Piper (US), New York, NY for appellee.
    Case Number: D69658

    The court held that the Superior Court erred when it ruled that post-judgment interest and pre-judgment interest should be calculated using the same rate.

  • AB Stable VIII LLC v. MAPS Hotels & Resorts One LLC

    Publication Date: 2021-12-21
    Practice Area: Mergers and Acquisitions
    Industry: Hospitality and Lodging
    Court: Delaware Supreme Court
    Judge: Justice Seitz
    Attorneys: For plaintiff: Raymond J. DiCamillo, Kevin M. Gallagher, Sarah A. Clark, John M. O’Toole, Richards, Layton & Finger, P.A., Wilmington, DE; Theodore N. Mirvis, William Savitt, Sarah K. Eddy, Ryan A. McLeod, Wachtell, Lipton, Rosen & Katz, New York, NY; Theodore B. Olson, Amir C. Tayrani, Gibson, Dunn & Crutcher LLP, Washington, D.C.; Adam H. Offenhartz, Marshall R. King, Gibson, Dunn & Crutcher LLP, New York, NY for appellant.
    for defendant: A. Thompson Bayliss, Michael A. Barlow, April M. Kirby, Stephen C. Childs, Abrams & Bayliss LLP, Wilmington, DE; Kathleen M. Sullivan, Michael B. Carlinsky, William B. Adams, Christopher D. Kercher, Rollo C. Baker IV, Todd G. Beattie, Jonathan E. Feder, Quinn Emanuel Urquhart & Sullivan, LLP, New York, NY; Kap-You Kim, Peter & Kim Attorneys at Law, Seoul, South Korea for appellees.
    Case Number: D69651

    Seller of hotel businesses breached ordinary course covenant by making material changes to operations in response to the COVID-19 pandemic, where the covenant did not contain a material adverse event exception and where seller failed to obtain buyer's consent to the changes.

  • Dir. of Revenue v. Verisign, Inc.

    Publication Date: 2021-12-14
    Practice Area: Tax
    Industry: E-Commerce
    Court: Delaware Supreme Court
    Judge: Justice Traynor
    Attorneys: For plaintiff: Anthony J. Testa, Jr., Matthew M. Warren, Michael B. Cooksey, Delaware Department of Justice, Wilmington, DE; Tiffany R. Moseley, Steven S. Rosenthal, Loeb & Loeb, Washington, DC for appellant
    for defendant: Frank. J. Gallo, Kyle O. Sollie, Sebastian C. Watt, Benjamin P. Chapple, Reed Smith LLP, Wilmington, DE for appellee
    Case Number: D69643

    Division of revenue policy limiting the use of net operating loss to the amount claimed on a consolidated federal income tax return was inconsistent with operative state tax law which required each Delaware corporate taxpayer to calculate its income as if it had filed its federal return separately.

  • OptiNose AS v. Currax Pharm. LLC

    Publication Date: 2021-11-16
    Practice Area: Patent Licensing and Transactions
    Industry: Pharmaceuticals
    Court: Delaware Supreme Court
    Judge: Justice Seitz
    Attorneys: For plaintiff: Joseph B. Warden, Douglas E. McCann, Fish & Richardson P.C., Wilmington, DE for appellants.
    for defendant: Daniel A. O’Brien, Venable LLP, Wilmington, DE; Christopher P. Borello, Joshua D. Calabro, Venable LLP, New York, NY for appellee.
    Case Number: D69609

    The court affirmed the Court of Chancery ruling that the license agreement required appellant to provide a power of attorney to appellee for prosecution of product patents but held, contrary to the Court of Chancery, that the licensor/patent holder had advance approval rights for filings relating to its intellectual property incorporated into the subject product such that appellant was not required to give power of attorney for licensee to file a terminal disclaimer.

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  • Brookfield Asset Mgmt., Inc. v. Rosson

    Publication Date: 2021-10-06
    Practice Area: Corporate Entities
    Industry: Investments and Investment Advisory
    Court: Delaware Supreme Court
    Judge: Justice Valihura
    Attorneys: For plaintiff: Kevin G. Abrams, Eric A. Veres, Stephen C. Childs, Abrams & Bayliss LLP, Wilmington, DE; John A. Neuwirth, Stefania D. Venezia, Amanda K. Pooler, Weil, Gotshal & Manges LLP, New York, NY for appellants.
    for defendant: Ned Weinberger, Derrick Farrell, Mark Richardson, Labaton Sucharow LLP, Wilmington, DE; Peter B. Andrews, Craig J. Springer, David M. Sborz, Andrews & Springer LLC, Wilmington, Delaware; Steven J. Purcell, Douglas E. Julie, Robert H. Lefkowitz, Kaitlyn T. Devenyns, Purcell Julie & Lefkowitz LLP, New York, NY; Jeremy S. Friedman, David F.E. Tejtel, Friedman Oster & Tejtel PLLC, Bedford Hills, NY for appellees.
    Case Number: D69560

    Court overruled the Gentile carve-out doctrine where it created analytical tension with Tooley and other legal doctrines permitted stockholders to pursue direct claims for fiduciary breaches.

  • Manti Holdings, LLC v. Authentix Acquisition Co., Inc.

    Publication Date: 2021-09-29
    Practice Area: Corporate Entities
    Industry: E-Commerce | Investments and Investment Advisory | Technology Media and Telecom
    Court: Delaware Supreme Court
    Judge: Justice Davis
    Attorneys: For plaintiff: John L. Reed, Peter H. Kyle, Kelly L. Freund, DLA Piper LLP (US), Wilmington, DE for petitioners.
    for defendant: Samuel A. Nolen, Richards, Layton & Finger, P.A., Wilmington, DE; Andrew Hammond, Michelle Letourneau-Belock, Bryan Beaudoin, White & Case LLP, New York, NY for respondent.
    Case Number: D69551

    The Delaware Supreme court held that stockholders could waive their statutory appraisal rights.

  • Country Life Homes, LLC v. Gellert Scali Busenkell & Brown, LLC

    Publication Date: 2021-09-01
    Practice Area: Legal Malpractice
    Industry: Financial Services and Banking | Legal Services | Real Estate
    Court: Delaware Supreme Court
    Judge: Justice Vaughn
    Attorneys: For plaintiff: Patrick K. Gibson, Ippoliti Law Group, Wilmington, DE for appellants.
    for defendant: Carol A. Vanderwoude, Marshall Dennehey Warner Coleman & Goggin, P.C., Philadelphia, PA, Art C. Aranilla, Marshall Dennehey Warner Coleman & Goggin, P.C., Wilmington, DE for appellee.
    Case Number: D69520

    Former clients sufficiently pled legal malpractice cause of action by alleging that legal counsel negligently advised clients to pursue litigation strategy that had no merit, resulting in clients incurring unnecessary litigation expense.

  • Coster v. UIP Co., Inc.

    Publication Date: 2021-07-21
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory
    Court: Delaware Supreme Court
    Judge: Justice Seitz
    Attorneys: For plaintiff: Max B. Walton, Kyle Evans Gay, Connolly Gallagher LLP, Wilmington, DE; Michael K. Ross, Thomas Shakow, Serine Consolino, Sean Roberts, Aegis Law Group LLP, Washington, DC for plaintiff.
    for defendant: Stephen B. Brauerman, Elizabeth A. Powers, Bayard, P.A., Wilmington, DE; Deborah B. Baum, Pillsbury Winthrop Shaw Pittman LLP, Washington, DC for defendants.
    Case Number: D69471

    Chancery court erred in ruling that stock sale to break shareholder deadlock and avoid shareholder's action for appointment of a custodian for the company was permissible if the stock was sold at a fair price, as the company and its board and other shareholder were obligated to demonstrate a compelling justification for conducting the sale.

  • Concerned Citizens of the Estates of Fairway Vill. v. Fairway Cap, LLC

    Publication Date: 2021-07-14
    Practice Area: Real Estate
    Industry: Real Estate
    Court: Delaware Supreme Court
    Judge: Justice Montgomery-Reeves
    Attorneys: For plaintiff: Richard E. Berl, Jr., Hudson, Jones, Jaywork & Fisher, LLC, Lewes, DE for appellants.
    for defendant: Jeffrey M. Weiner, Law Offices of Jeffery M. Weiner, P.A., Wilmington, DE; Timothy Jay Houseal, William E. Gamgort, Young Conaway Stargatt & Taylor, LLP for appellees.
    Case Number: D69463

    Defendant's failure to move to lift preliminary injunction after co-plaintiff withdrew the security bond and the remaining plaintiff failed to post a replacement bond barred defendant from recovering wrongful injunction damages.