• Lentz v. Mathias

    Publication Date: 2022-07-26
    Practice Area: Securities Litigation
    Industry: Construction | Investments and Investment Advisory | Transportation
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Andrew W. Lentz, plaintiff pro se
    for defendant: Shah Mathias, defendant pro se; Debra Mathias, defendant pro se; Robert Choiniere, defendant pro se; Bryan Elicker, defendant pro se; Robert Todd Reynold, defendant pro se; James Becker, defendant pro se; Steve Trout, defendant pro se; John W. Thompson, defendant pro se; Shahjahan C. Mathias, defendant pro se; Donald E. Williams, Jr., defendant pro se; Keith Doyle, defendant pro se; Suhail Matthias, defendant pro se; James Kingsborough, defendant pro se; Joseph Silbaugh, defendant pro se; Kevin Eisenhart, defendant pro se; Kurt Bauer, defendant pro se.

    Case Number: D69894

    Court issued temporary injunction barring tender offer after finding that controllers provided misleading and false disclosures in connection with the offer and had made coercive threats to induce non-tendering stockholders to tender.

  • Innovate 2 Corp. v. Motorsport Games Inc.

    Publication Date: 2022-04-12
    Practice Area: Securities Litigation
    Industry: Entertainment and Leisure | Investments and Investment Advisory
    Court: U.S. District Court of Delaware
    Judge: District Judge Bibas
    Attorneys: For plaintiff: Joseph Benedict Cicero, Aidan T. Hamilton, Gregory Erich Stuhlman, Chipman Brown Cicero & Cole, LLP, Wilmington, DE; Matthew J. Reynolds, Sara G. Wilcox, Huth Reynolds LLP, New York, NY & Denver, CO; Ned C. Weinberger, Labaton Sucharow LLP, Wilmington, DE for plaintiffs.
    for defendant: Daniel A. O’Brien, Brian L. Schwalb, Venable LLP, Wilmington, DE for defendants.

    Case Number: D69779

    Minority stockholders plausibly alleged that controlling shareholder used insider knowledge to mislead the minority stockholders into being bought out for an unfair price where the now wholly owned company represented almost all the attributed value of the controlling shareholder, which soon after went public for a much higher price than the minority stockholders sold out for.

  • In re Pattern Energy Group Inc. Sec. Litig.

    Publication Date: 2022-04-12
    Practice Area: Securities Litigation
    Industry: Energy | Investments and Investment Advisory
    Court: U.S. District Court of Delaware
    Judge: District Judge Noreika
    Attorneys: For plaintiff: Sue L. Robinson, Brian E. Farnan, Michael J. Farnan, Farnan LLP, Wilmington, DE; Andrew J. Entwistle, Entwistle & Cappucci LLP, Austin, TX; Vincent R. Cappucci, Arthur V. Nealon, Brendan J. Brodeur, Jonathan H. Beemer, Jessica A. Margulis, Entwistle & Cappucci LLP, New York, NY; Marc M. Seltzer, Krysta Kauble Pachman, Susman Godfrey L.L.P., Los Angeles, CA for plaintiffs.
    for defendant: A. Thompson Bayliss, April M. Kirby, Abrams & Bayliss LLP, Wilmington, DE; Alan S. Goudiss, K. Mallory Brennan, Shearman & Sterling LLP, New York, NY; Christina E. Myrold, Shearman & Sterling LLP, San Francisco, CA for defendants.

    Case Number: D69781

    Motion to dismiss Exchange Act violations denied where plaintiffs plausibly alleged that defendant board had acknowledged that a competing merger offer constituted a better value and would provide stockholders with a higher price, and knew at the time of voting to approve another offer that the competing bidder was willing to continue discussing more favorable terms of merger.

  • In re The Chemours Company Sec. Litig.

    Publication Date: 2022-03-08
    Practice Area: Securities Litigation
    Industry: Chemicals and Materials | Investments and Investment Advisory | Manufacturing
    Court: U.S. District Court of Delaware
    Judge: District Judge Connolly
    Attorneys: For plaintiff: Bruce E. Jameson, Marcus E. Montejo, Stephen D. Dargitz, Prickett, Jones & Elliott, P.A., Wilmington, DE, liaison counsel for the class. Mary Sikra Thomas, Bruce E. Jameson Prickett, Jones & Elliott, P.A., Wilmington, DE; Maya S. Saxena, Joseph E. White, III, Lester R. Hooker, Dianne M. Pitre, Saxena White P.A., Boca Raton, FL; Steven B. Singer, Kyla Grant, Saxena White P.A., White Plains, NY; David R. Kaplan, Saxena White P.A., San Diego, CA for lead plaintiff and for the class.
    for defendant: Joel Friedlander, Jeffrey Gorris, Christopher Foulds, Christopher P. Quinn, Friedlander & Gorris P.A., Wilmington, DE for de-fendant.

    Case Number: D69736

    The court held that plaintiff met its pleading requirements when he alleged that defendant made false statements in annual and quarterly reports about maximum remediation liabilities

  • Adams v. Klein

    Publication Date: 2021-10-13
    Practice Area: Securities Litigation
    Industry: Investments and Investment Advisory | Pharmaceuticals
    Court: U.S. District Court of Delaware
    Judge: District Judge Andrews
    Attorneys: For plaintiff: Gregory Fischer, Cozen O'Connor, Wilmington, DE; Martin S. Bloor, Michael B. de Leeuw, Matthew L. Elkin, Cozen O'Connor, New York, NY for plaintiffs.
    for defendant: John Klein, Alpine, New Jersey, pro se defendant.

    Case Number: D69566

    Plaintiffs proved securities fraud under Section 10(b) and Rule 10b-5 and a violation of N.J.S.A. §49:3-71(a)(2) and common law fraud where defendant committed multiple misrepresentations during the sale of securities.

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    New Jersey Estate Litigation 2014

    Authors: Michael R. Griffinger, Paul F. Cullum III

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  • Henry v. Wilmington Trust, N.A.

    Publication Date: 2021-09-29
    Practice Area: Securities Litigation
    Industry: Investments and Investment Advisory
    Court: U.S. District Court of Delaware
    Judge: District Judge Noreika
    Attorneys: For plaintiff: David A. Felice, Bailey & Glasser, LLP, Wilmington, DE; Gregory Y. Porter, Ryan T. Jenny, Patrick O. Muench, Bailey & Glasser, LLP, Washington, DC; Daniel Feinberg, Todd Jackson, Feinberg, Jackson, Worthman & Wasow LLP, Berkeley, CA for plaintiff.
    for defendant: Albert H. Manwaring, Kristen A. Zeberkiewicz, Morris James LLP; Michael J. Prame, Sarah M. Adams, Elizabeth L. Woods, Groom Law Group, Chartered, Washington, DC; Art C. Arnailla, Marshall Dennehey Warner Coleman & Goggin, P.C., Wilmington, DE; Mark A. Nebrig, Kristen J. Kenley, Moore & Van Allen PLLC, Charlotte, NC for defendants.

    Case Number: D69557

    Court declined to enforce arbitration clause in ERISA employee stock plan where there was a genuine issue of material fact as to whether employee had affirmatively assented to the arbitration clause.

  • Diep v. Sather

    Publication Date: 2021-08-18
    Practice Area: Securities Litigation
    Industry: Food and Beverage | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Chancellor McCormick
    Attorneys: For plaintiff: Peter B. Andrews, Craig J. Springer, David M. Sborz, Andrews & Springer LLC, Wilmington, DE; Hung G. Ta, Joo Yun Kim, Natalia D. Williams, Hung G. Ta, Esq, PLLC, New York, NY; Peter Safirstein, Elizabeth S. Metcalf, Safirstein Metcalf LLP, New York, NY for plaintiff.
    for defendant: Kurt M. Heyman, Elizabeth A. DeFelice, Jamie L. Brown, Heyman Enerio Gattuso & Hirzel LLP, Wilmington, DE; Adam H. Offenhartz, Gibson, Dunn & Crutcher LLP, New York, NY; Tyler H. Amass, Gibson, Dunn & Crutcher LLP, Denver, CO for the Special Litigation Committee.

    Case Number: D69505

    A special litigation committee conducted a fair and extensive evaluation of the insider trading claims in this case, so the court granted the committee's motion to dismiss this action.

  • Cont'l Investors Fund LLC v. TradingScreen Inc.

    Publication Date: 2021-08-18
    Practice Area: Securities Litigation
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Kevin G. Abrams, John M. Seaman, Stephen C. Childs, Abrams & Bayliss LLP, Wilmington, DE for plaintiff.
    for defendant: Brian C. Ralston, Jaclyn C. Levy, Callan R. Jackson, Potter Anderson & Corroon LLP, Wilmington, DE for defendants.

    Case Number: D69503

    Company did not breach its obligations under stock redemption agreement when it initially declined to redeem all of participating stockholders' shares, where company's directors engaged in reasonable, good faith analysis that led the directors to conclude that redeeming all participating shares could jeopardize company's status as going concern.

  • In re: Forum Mobile, Inc.

    Publication Date: 2021-04-07
    Practice Area: Securities Litigation
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Jeremy D. Anderson, Fish & Richardson, P.C., Wilmington, DE for petitioner.
    for defendant: N/A

    Case Number: D69353

    Delaware had a public policy interest in preventing the use of Delaware entities to circumvent federal se-curities laws, so the court appointed an amicus curiae to provide an independent review before ruling on the pending petition.

  • Scott v. Vantage Corp.

    Publication Date: 2021-02-24
    Practice Area: Securities Litigation
    Industry: Investments and Investment Advisory | Software
    Court: U.S. Court of Appeals for the Third Circuit
    Judge: Judge Shwartz
    Attorneys: For plaintiff:
    for defendant:

    Case Number: D69307

    Plaintiffs failed to establish their claims for misrepresentation or breach of fiduciary duty in connection with the sale of unregistered securities, and the trial court did not err in denying a motion for substitution of parties.