• Richardson v. Clark

    Publication Date: 2021-01-27
    Practice Area: Corporate Governance
    Industry: Financial Services and Banking
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Kevin H. Davenport, Samuel L. Closic, Jason W. Rigby, Prickett, Jones & Elliott, P.A., Wilmington, DE; Frank R. Schirripa, Daniel B. Rehns, Hach Rose Schirripa & Cheverie LLP, New York, NY for plaintiff.
    for defendant: A. Thompson Bayliss, Joseph A. Sparco, Abrams & Bayliss LLP, Wilmington, DE; Scott P. Drake, Norton Rose Fulbright US LLP, Dallas, TX; Peter A. Stokes, Norton Rose Fulbright US LLP, Austin, TX for defend-ants.

    Case Number: D69273

    A company's directors failed to adequately address problems identified by federal regulators, but their conduct did not amount to bad faith.

  • Mack v. Rev Worldwide, Inc.

    Publication Date: 2021-01-20
    Practice Area: Corporate Entities
    Industry: Financial Services and Banking
    Court: Court of Chancery
    Judge: Vice Chancellor Zurn
    Attorneys: For plaintiff: William M. Kelleher, Phillip A. Giordano, Gordon, Fournaris & Mammarella, P.A., Wilmington, DE; Robert A. Giacovas, Lainie E. Cohen, Jacob A. Englander, Lazare Potter Giacovas & Moyle LLP, New York, NY for plaintiff.
    for defendant: Raymond W. Cobb, O’Hagan Meyer LLP, Wilmington, DE; Kevin M. O’Hagan, Shane M. Bradwell, O’Hagan Meyer LLP, Chicago, IL for defendant.

    Case Number: D69268

    Delaware was an improper forum for plaintiff's claims, because the parties' agreements contained forum selection clauses in favor of other states.

  • Pascal v. Czerwinski

    Publication Date: 2020-12-30
    Practice Area: Corporate Governance
    Industry: Financial Services and Banking | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: David A. Jenkins, Neal C. Belgam, Smith Katzenstein & Jenkins LLP, Wilmington, DE for plaintiff.
    for defendant: Kenneth J. Nachbar, Zi-Xiang Shen, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Susan M. Han-nigan, Richards Layton & Finger, P.A., Wilmington, DE for defendants.

    Case Number: D69242

    A proxy statement involving an equity incentive plan did not contain materially deficient language, so the court granted defendants' motion to dismiss plaintiff's direct claim for breach of fiduciary duty.

  • TitleMax of Delaware, Inc. v. Weissman

    Publication Date: 2020-12-23
    Practice Area: Banking and Finance Laws
    Industry: Financial Services and Banking
    Court: U.S. District Court of Delaware
    Judge: District Judge Thynge
    Attorneys: For plaintiff:
    for defendant:

    Case Number: D69234

    A Pennsylvania agency's attempt to enforce the usury laws of its state with respect to transactions that oc-curred entirely outside its jurisdiction violated the commerce clause.

  • PacNet Capital v. Skye Mineral Partners, LLC

    Publication Date: 2020-12-09
    Practice Area: Bankruptcy
    Industry: Financial Services and Banking | Mining and Resources
    Court: U.S. District Court of Delaware
    Judge: District Judge Connolly
    Attorneys: For plaintiff:
    for defendant:

    Case Number: D69218

    The bankruptcy court did not abuse its discretion in dismissing a petition for involuntary bankruptcy, because the party who filed the petition acted in bad faith. Affirmed.

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  • Focus Fin. Partners, LLC v. Holsopple

    Publication Date: 2020-11-18
    Practice Area: Business Torts
    Industry: Financial Services and Banking
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Travis S. Hunter, Dorronda R. Bordley, Richards, Layton & Finger, P.A., Wilmington, DE; Michael V. Rella, Murphy & McGonigle, New York, NY for plaintiff.
    for defendant: Daniel M. Silver, Travis J. Ferguson, Alexandra M. Joyce, McCarter & English, LLP, Wilmington, DE for defendants.

    Case Number: D69190

    Tortious interference and misappropriation case against competitor who employed former worker dismissed on forum non conveniens grounds where the parties were already engaged in litigation in California, whose law was more likely to govern the issues in the matter.

  • In re WeWork Litig.

    Publication Date: 2020-11-18
    Practice Area: Deals and Transactions
    Industry: Financial Services and Banking | Investments and Investment Advisory | Real Estate
    Court: Court of Chancery
    Judge: Chancellor Bouchard
    Attorneys: For plaintiff: William M. Lafferty, Kevin M. Coen, Sabrina M. Hendershot, Sara Toscano, Morris Nichols Arsht & Tunnell LLP, Wilmington, DE; Eric Seiler, Philippe Adler, Mala Ahuja Harker, Friedman Kaplan Seiler & Adelman LLP, New York, NY; William Christopher Carmody, Shawn J. Rabin, Arun Subramanian, Susman Godfrey L.L.P., New York, NY for plaintiffs.
    for defendant: William B. Chandler, III, Brad D. Sorrels, Lori W. Will, Lindsay Kwoka Faccenda, Leah E. Brenner, Jeremy W. Gagas, Wilson Sonsini Goodrich & Rosati, P.C., Wilmington, DE; David J. Berger, Steven M. Gugen-heim, Dylan G. Savage, Wilson Sonsini Goodrich & Rosati, P.C., Palo Alto, CA; Michael S. Sommer, Wilson Sonsini Goodrich & Rosati, P.C., New York, NY for the special committee of the board of directors of The We Co. Robert S. Saunders, Sarah R. Martin, Arthur R. Bookout, Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington, DE; George A. Zimmerman, Skadden, Arps, Slate, Meagher & Flom LLP, New York, NY for The We Co. Elena C. Norman, Rolin P. Bissell, Nicholas J. Rohrer, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; Erik J. Olson, Morrison & Foerster LLP, Palo Alto, CA; James Bennett, Jordan Eth, Morri-son & Foerster LLP, San Francisco, CA for defendant SoftBank Group Corp. Michael A. Barlow, E. Wade Houston, Abrams & Bayliss LLP, Wilmington, DE; John B. Quinn, Molly Stephens, Quinn Emanuel Urquhart & Sullivan, LLP, Los Angeles, CA for defendant SoftBank Vision Fund.

    Case Number: D69193

    Plaintiff stated a claim against defendants for breach of contract, but his breach of fiduciary duty claim was duplicative of the contract claim.

  • In re: NNN 400 Capital Ctr. 16, LLC

    Publication Date: 2020-11-04
    Practice Area: Bankruptcy
    Industry: Financial Services and Banking | Investments and Investment Advisory | Real Estate
    Court: U.S. Bankruptcy Court
    Judge: Judge Dorsey
    Attorneys: For plaintiff:
    for defendant:

    Case Number: D69176

    Prevailing party's motion for costs incurred in adversary proceedings granted despite the procedural irregularity of the prevailing party's request.

  • Windsor I, LLC v. CWCapital Asset Mgmt. LLC

    Publication Date: 2020-09-23
    Practice Area: Deals and Transactions
    Industry: Financial Services and Banking | Real Estate
    Court: Delaware Supreme Court
    Judge: Justice Valihura
    Attorneys: For plaintiff:
    for defendant:

    Case Number: D69133

    Plaintiff failed to state claims for promissory estoppel and unjust enrichment in connection with a proposed transaction which never materialized. Affirmed.

  • In re Nat'l Collegiate Student Loan Trusts Litig.

    Publication Date: 2020-09-16
    Practice Area: Corporate Governance
    Industry: Financial Services and Banking
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Garrett B. Moritz, Benjamin Z. Grossberg, and S. Reiko Rogozen, Ross Aronstam & Moritz LLP, Wilmington, DE; Kimberly A. Evans and Rebecca A. Musarra, Grant & Eisenhofer P.A., Wilmington, DE; Lance Gotthoffer, Chaitman, LLP, New York, NY; Catherine A. Gaul, Ashby & Geddes, P.A., Wilmington, DE; Michael Hanin and Uri Itkin, Kasowitz Benson Torres LLP, New York, NY; John W. Shaw and Jeffrey T. Castellano, Shaw Keller LLP, Wilmington, DE; Matthew A. Martel, Joseph B. Sconyers, Keith M. Kollmeyer, and Anthony M. Masero, Jones Day, Boston, MA for plaintiffs.
    for defendant: Kurt M. Heyman and Melissa N. Donimirski, Enerio Gattuso & Hirzel LLP, Wilmington, DE; Erik Haas, Joshua Kipnees, George A. LoBiondo, Jared Buszin, Peter Shakro, Devon Hercher, and Jonah Wacholder, Patterson Belknap Webb & Tyler LLP, New York, NY; Jason C. Jowers, Stephen B. Brauerman, Brett M. McCartney, and Elizabeth A. Powers, Bayard, P.A., Wilmington, DE; Rebecca L. Butcher and Jennifer L. Cree, Landis Rath & Cobb LLP, Wilmington, DE; John P. Doherty and William Hao, Alston & Bird LLP, New York, NY; Stacey A. Scrivani, Stevens & Lee, P.C., Wilmington, DE for defendants.

    Case Number: D69120

    Because a precautionary security interest could be created simultaneously with the assignment of pledged collateral, indentured parties who received the assignment granted them the beneficial interests of the property, such that the owners of the trusts that acquired the property owed the indentured parties fiduciary duties through the owners' control over the trusts.