• Patel v. Duncan

    Publication Date: 2021-10-13
    Practice Area: Corporate Governance
    Industry: Energy | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Zurn
    Attorneys: For plaintiff: Stephen E. Jenkins, F. Troup Mickler IV, Ashby & Geddes, P.A., Wilmington, DE; Eduard Korsinsky, Gregory M. Nespole, Daniel Tepper, Levi & Korsinsky, LLP, New York, NY for plaintiff.
    for defendant: Kevin R. Shannon, Matthew F. Davis, Justin T. Hymes, Potter Anderson & Corroon LLP, Wilmington, DE; David M. Zensky, Brian Carney, Akin Gump Strauss Hauer & Feld LLP, New York, NY; Scott Barnard, Akin Gump Strauss Hauer & Feld LLP, Dallas, TX; David E. Ross, Ross Aronstam & Moritz LLP, Wilmington, DE; Andrew B. Clubok, J. Christian Word, Stephen P. Barry, Latham & Watkins, LLP, Washington, DC; Rudolf Koch, Matthew D. Perri, Richards Layton & Finger, P.A., Wilmington, DE; Bruce Birenboim, Susanna M. Buergel, Christopher L. Filburn, Paul, Weiss, Rifkind, Wharton & Garrison, LLP, New York, NY; William B. Chandler, III, Andrew D. Cordo, Wilson Sonsini Goodrich & Rosati, Wilmington, DE; Mark A. Kirsch, Randy M. Mastro, Gibson Dunn & Crutcher, New York, NY for defendants.

    Case Number: D69573

    The court dismissed plaintiff's derivative claims because he failed to adequately plead the existence of a control group, and plaintiff also failed to demonstrate demand futility.

  • Intel Corp. v. Fortress Inv. Group, LLC

    Publication Date: 2021-10-13
    Practice Area: Patent Litigation
    Industry: Software
    Court: Court of Chancery
    Judge: Vice Chancellor Zurn
    Attorneys: For plaintiff: Jack B. Blumenfeld, Kenneth J. Nachbar, Ryan D. Stottmann, Elizabeth A. Mullin, Miranda N. Gilbert, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE for plaintiff.
    for defendant: Jeffrey L. Moyer, Kelly E. Farnan, Blake Rohrbacher, Valerie A. Caras, Richards, Layton & Finger, P.A., Wilmington, DE; Brian E. Farnan, Michael J. Farnan, Farnan LLP, Wilmington, DE; Ben Hattenbach, Iian D. Jablon, Irell & Manella LLP, Los Angeles, CA for defendants.

    Case Number: D69572

    The court dismissed this action for declaratory relief because plaintiff had an adequate remedy at law in other pending patent lawsuits.

  • In re The Boeing Co. Derivative Litig.

    Publication Date: 2021-09-22
    Practice Area: Corporate Entities
    Industry: Aerospace | Investments and Investment Advisory | Manufacturing
    Court: Court of Chancery
    Judge: Vice Chancellor Zurn
    Attorneys: For plaintiff: Joel Friedlander, Jeffrey M. Gorris, Christopher M. Foulds, Friedlander & Gorris, P.A., Wilmington, DE; Richard M. Heimann, Katherine Lubin Benson, Lieff Cabraser Heimann & Bernstein, LLP, San Francisco, CA; Steven E. Fineman, Nicholas Diamond, Sean Petterson, Rhea Ghosh, Kartik S. Madiraju, Lieff Cabraser Heimann & Bernstein, LLP, New York, NY for plaintiffs.
    for defendant: Blake Rohrbacher, Kevin M. Gallagher, Ryan D. Konstanzer, Richards, Layton & Finger, P.A., Wilmington, DE; Joshua Z. Rabinovitz, Kirkland & Ellis LLP, Chicago, IL for defendants.

    Case Number: D69544

    Demand futility sufficiently pled by alleging that directors could face substantial likelihood of liability for failure to establish reporting systems and for ignoring warning signs regarding product safety.

  • Kihm v. Mott

    Publication Date: 2021-09-15
    Practice Area: Mergers and Acquisitions
    Industry: Pharmaceuticals
    Court: Court of Chancery
    Judge: Vice Chancellor Zurn
    Attorneys: For plaintiff: Joel Friedlander, Jeffery M. Gorris, Friedlander & Gorris, P.A., Wilmington, DE; R. Bruce McNew, Cooch & Taylor, P.A., Wilmington, DE; Randall J. Baron, David Wissbroecker, Robbins Geller Rudman & Dowd LLP, San Diego, CA; Christopher H. Lyons, Robbins Geller Rudman & Dowd LLP, Nashville, TN; Peretz Bronstein, Bronstein, Gewirtz & Grossman, LLC, New York, NY for plaintiff.
    for defendant: A. Thompson Bayliss, April M. Kirby, Abrams & Bayliss LLP, Wilmington, DE; Peter L. Welsh, Elena Weissman Davis, Ropes & Gray LLP, Boston, MA; Timothy R. Farrell, Ropes & Gray LLP, Chicago, IL; Christian Reigstad, Ropes & Gray LLP, New York, NY; Paul D. Brown, Joseph B. Cicero, Chipman Brown Cicero & Cole, LLP, Wilmington, DE; Roger A. Lane, Courtney Worcester, Holland & Knight LLP, Boston, MA; Daniel A. Mason, Paul, Weiss, Rifkind, Wharton & Garrison LLP, Wilmington, DE; Bruce Birenboim, Susanna M. Buergel, Christopher L. Filburn, Paul, Weiss, Rifkind, Wharton & Garrison, LLP, New York, NY for defendants.

    Case Number: D69534

    Post-closing fiduciary claims against directors failed where none of the alleged omissions from the board's disclosure statement to stockholders rendered the statement deficient, such that the approval of the transaction by a majority of informed, uncoerced stockholders relieved the directors from any liability for fiduciary claims arising from the sale of the company.

  • Optimis Corp v. Atkins

    Publication Date: 2021-07-28
    Practice Area: Corporate Governance
    Industry: Health Care
    Court: Court of Chancery
    Judge: Vice Chancellor Zurn
    Attorneys: For plaintiff: Theodore A. Kittila, James G. McMillan, III, William E. Green, Halloran Farkas + Kittila LLP, Wilmington, DE for plaintiff.
    for defendant: Stephen B. Brauerman, Sarah T. Andrade, Bayard, P.A., Wilmington, DE for defendants.

    Case Number: D69483

    A company adequately alleged claims for unjust enrichment and breach of fiduciary duty against former di-rectors who obtained a derivative award in favor of the company, but then failed to turn over the funds.

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  • Largo Legacy Group, LLC v. Charles

    Publication Date: 2021-07-21
    Practice Area: Business Torts
    Industry: Hospitality and Lodging | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Zurn
    Attorneys: For plaintiff: Steven T. Margolin, Lisa Zwally Brown, Samuel L. Moultrie, Greenberg Traurig, LLP, Wilmington, DE for plaintiff.
    for defendant: Jason Jowers, Bayard, P.A., Wilmington, DE for defendants.

    Case Number: D69474

    Plaintiff stated claims for breach of an operating agreement, aiding and abetting, and breach of fiduciary duty, but the court rejected his fraud claims.

  • Cambria Equity Partners L.P. v. Relight Enter. S.A.

    Publication Date: 2021-06-23
    Practice Area: Mergers and Acquisitions
    Industry: Energy | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Zurn
    Attorneys: For plaintiff: John G. Harris, Richard I. G. Jones, Jr., Berger Harris LLP, Wilmington, DE; Lydia Ferrarese, Mark Weissman, Herzfeld & Rubin, P.C., New York, NY for plaintiffs.
    for defendant: Philip A. Rovner, Jonathan A. Choa, Potter Anderson & Corroon LLP, Wilmington, DE; John J. Kuster, Deborah R. Sands, Sidley Austin LLP, New York, NY for defendants.

    Case Number: D69440

    Aiding and abetting claim failed where third-party merely engaged in arms-length negotiation of purchase, and was not even initially aware of the existence of minority stockholders and simply negotiated protections for itself upon learning of their existence.

  • Lone Pine Resources, LP v. Dickey

    Publication Date: 2021-06-23
    Practice Area: Corporate Governance
    Industry: Energy
    Court: Court of Chancery
    Judge: Vice Chancellor Zurn
    Attorneys: For plaintiff: R. Karl Hill, Seitz, Van Ogtrop & Green, P.A., Wilmington, DE; Rochelle R. Koerbel, Maureen E. Sweeny, Blumling & Gusky, LLP, Pittsburg, PA for plaintiffs.
    for defendant: Samuel T. Hirzel, II, Gillian L. Andrews, Heyman Enerio Gattuso & Hirzel LLP, Wilmington, DE for defend-ants.

    Case Number: D69444

    The court granted motions to dismiss as to multiple defendants for lack of personal jurisdiction.

  • In re: SmileDirectClub, Inc. Derivative Litig.

    Publication Date: 2021-06-16
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Zurn
    Attorneys: For plaintiff: Blake A. Bennett, Cooch and Taylor, P.A., Wilmington, DE; P. Bradford deLeeuw, deLeeuw Law LLC, Wil-mington, DE; Lee Squitieri, Squitieri & Fearon, LLP, New York, NY; Jeffrey S. Abraham, Michael J. Klein, Abraham, Fruchter & Twersky LLP, New York, NY; Donald J. Enright, Elizabeth K. Tripodi, Jordan Cafritz, Levi & Korsinsky, LLP for plaintiffs.
    for defendant: Edward B. Micheletti, Jenness E. Parker, of Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington, DE; Scott D. Musoff, Skadden, Arps, Slate, Meagher & Flom LLP, New York, NY for defendants.

    Case Number: D69435

    The court granted defendants' motion to dismiss this derivative because plaintiffs failed to meet the con-temporaneous ownership requirement, so they lacked standing.

  • In re Pattern Energy Group Inc. Stockholders Litig.

    Publication Date: 2021-05-26
    Practice Area: Mergers and Acquisitions
    Industry: Energy | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Zurn
    Attorneys: For plaintiff: Ned Weinberger, Mark Richardson, Labaton Sucharow LLP, Wilmington, DE; David MacIsaac, John Vielandi, Labaton Sucharow LLP, New York, NY; Chad Johnson, Noam Mandel, Desiree Cummings, Robbins Geller Rudman & Dowd LLP, New York, NY; Brian Schall, Rina Restaino, The Schall Law Firm, Los Angeles, CA for plaintiff.
    for defendant: A. Thompson Bayliss, April M. Kirby, Abrams & Bayliss LLP, Wilmington, DE; Alan S. Goudiss, K. Mallory Brennan, Deke Shearon Shearman & Sterling LLP; Christina Urhausen, Shearman & Sterling LLP, San Francisco, CA; Rudolf Koch, Matthew D. Perri, Andrew L. Milam, Richards, Layton & Finger, P.A., Wilmington, DE; Matthew A. Schwartz, Y. Carson Zhou, John-Francis S. Flynn, Sullivan & Cromwell LLP, New York, NY for defendants.

    Case Number: D69408

    Stockholder could seek entire fairness review of company sale under controller theory where investor that had formed the company continued to exercise soft power over the company's management, which allegedly prioritized the investor's interests over shareholder value during the sales process.