• CHC Inv., LLC v. FirstSun Capital Bancorp

    Publication Date: 2020-04-08
    Practice Area: Securities Litigation
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor McCormick
    Attorneys: For plaintiff: John G. Day, Prickett, Jones & Elliott, P.A., Wilmington, DE; Michael C. Manning, Jeffrey J. Goulder, Stefan M. Palys, and Christy M. Milliken, Stinson Leonard Street LLP, Phoenix, AZ for plaintiff.
    for defendant: Jon E. Abramczyk, William M. Lafferty, and Sabrina M. Hendershot, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Lawrence Portnoy, Julia Kiechel, M. Nicholas Sage, and Caroline Stern, Davis Polk & Wardwell LLP, New York, NY for defendants.

    Case Number: D68934

    Securities fraud claim dismissed pursuant to the statute of limitations, where court applied Delaware's shorter limitations period, where plaintiff was not forced to file in Delaware pursuant to an agreed-upon forum selection clause.

  • Neurvana Med., LLC v. Balt USA, LLC

    Publication Date: 2020-03-11
    Practice Area: Corporate Governance
    Industry: Health Care
    Court: Court of Chancery
    Judge: Vice Chancellor McCormick
    Attorneys: For plaintiff: Jason A. Cincilla, Amaryah K. Bocchino, Ryan W. Browning and Tye C. Bell, Manning Gross + Massenburg LLP, Wilmington, DE; John M. Pierce, Michael M. Pomerantz, Elizabeth C. DeGori and Matthew J. Kokot, Pierce Bainbridge Beck Price & Hecht LLP, New York, NY for plaintiff.
    for defendant: Lori W. Will, Phillip R. Sumpter, Daniyal M. Iqbal, Jeremy W. Gagas, Dylan J. Liddiard, Charles A. Talpas and Brian J. Levy, Wilson Sonsini Goodrich & Rosati, P.C., Wilmington, DE, Palo Alto, CA and New York, NY for defendants.

    Case Number: D68907

    The court denied a motion to dismiss regarding a director's pre-resignation conduct, but it dismissed the remainder of plain-tiff's contract and tort claims.

  • O'Gara v. Coleman

    Publication Date: 2020-03-04
    Practice Area: Business Torts
    Industry: Food and Beverage
    Court: Court of Chancery
    Judge: Vice Chancellor McCormick
    Attorneys: For plaintiff: Stephen C. Norman, Christopher N. Kelly and Tyler J. Leavengood, Potter Anderson & Corroon LLP, Wilmington, DE; James Clough, William L. Prickett and Andrew T. Stark, Seyfarth Shaw LLP, Los Angeles, CA and Boston, MA for plaintiffs.
    for defendant: Kelly E. Farnan, Susan M. Hannigan and Anthony M. Calvano, Richards, Layton & Finger, P.A., Wilmington, DE; Bradley Chapin, Rutan & Tucker LLP, Costa Mesa, CA for defendants.

    Case Number: D68899

    The court granted defendants' motion to dismiss, because plaintiff failed to adequately allege their claims for breach of fiduciary duty, conspiracy, tortious interference with contract and business relations, and libel.

  • Alliance Compressors LLC v. Lennox Indus. Inc.

    Publication Date: 2020-01-22
    Practice Area: Contracts
    Industry: Manufacturing
    Court: Court of Chancery
    Judge: Vice Chancellor McCormick
    Attorneys: For plaintiff: Jon E. Abramczyk, D. McKinley Measley, Alexandra M. Cumings, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; James F. Bennett, John D. Comerford, Dowd Bennett LLP, St. Louis, MO for plaintiff.
    for defendant: Richard P. Rollo, Travis S. Hunter, Alexandra M. Ewing, Richards, Layton & Finger, P.A., Wilmington, DE; Eric B. Halper, Virginia I. Weber, McKool Smith P.C., New York, NY for defendant.

    Case Number: D68846

    Court lacked subject matter jurisdiction over plaintiff's contract claim where plaintiff had an adequate remedy at law in the form of monetary damages to compensate plaintiff for defendants' past breaches and in the form of a declaratory judgment establishing defendants' contractual purchase obligations.

  • Garfield v. Blackrock Mortgage Ventures, LLC

    Publication Date: 2020-01-08
    Practice Area: Corporate Entities
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor McCormick
    Attorneys: For plaintiff: Kurt M. Heyman, Aaron M. Nelson, Heyman Enerio Gattuso & Hirzel LLP, Wilmington, DE; Jason M. Leviton, Joel A. Fleming, Amanda R. Crawford, Block & Leviton LLP, Boston, MA for plaintiff.
    for defendant: Kenneth J. Nachbar, Morris Nichols Arsht & Tunnell, Wilmington, DE; Deborah S. Birnbach, Jennifer B. Luz, Katherine B. Dacey, Goodwin Procter LLP, Boston, MA; Kevin R. Shannon, Berton W. Ashman, Jr., Callan R. Jackson, Potter Andersoon & Corroon LLP, Wilmington, DE; John P. Coffey, Adina C. Levine, Kramer Levin Naftalis & Frankel LLP, New York, NY; David E. Ross, S. Michael Sirkin, Ross Aronstam & Moritz LLP, Wilmington, DE for defendant.

    Case Number: D68832

    Corporate restructuring transaction was subject to entire fairness review rather than receiving the benefit of the business judgment rule where two large stockholders formed controller group who received special benefits from the reorganization that ordinary stockholders did not receive.

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  • AlixPartners, LLP v. Mori

    Publication Date: 2019-12-11
    Practice Area: Labor Law
    Industry: Consulting
    Court: Court of Chancery
    Judge: Vice Chancellor McCormick
    Attorneys: For plaintiff: Bradley R. Aronstam and Eric D. Selden, Ross Aronstam & Moritz LLP, Wilmington, DE; Nicholas J. Pappas, Robert S. Berezin, and Justin Michael DiGennaro, Weil Gotshal & Manges LLP, New York, NY for plaintiffs.
    for defendant: John A. Sensing, Clarissa R. Chenoweth, and Jesse L. Noa, Potter Anderson & Corroon, LLP, Wilmington, DE for defendant.

    Case Number: D68800

    Court was not divested of subject matter jurisdiction under foreign law and regulation where plaintiffs' rights and remedies did not arise out of and were not inseparably related to foreign statutory law as to warrant their exclusive enforcement in a foreign tribunal.

  • Solak v. Welch

    Publication Date: 2019-11-13
    Practice Area: Corporate Governance
    Industry: Pharmaceuticals
    Court: Court of Chancery
    Judge: Vice Chancellor McCormick
    Attorneys: For plaintiff: Blake A. Bennett, Cooch and Taylor, P.A., Wilmington, DE; Jeffrey M. Norton, Newman Ferrara LLP, New York, NY; Werner R. Kranenburg, London, United Kingdom for plaintiff.
    for defendant: Edward B. Micheletti, Lilianna Anh P. Townsend and Mary T. Reale, Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington, DE for defendants.

    Case Number: D68773

    A stockholder who made a pre-suit demand on the board could not allege that demand would have been futile in a subsequent complaint concerning the subject matter of the demand.

  • In re LendingClub Corp. Derivative Litig.

    Publication Date: 2019-11-13
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor McCormick
    Attorneys: For plaintiff: Seth D. Rigrodsky, Brian D. Long and Gina M. Serra, Rigrodsky &7 Long, P.A., Wilmington, DE; Robert I. Harwood and Matthew M. Houston, Harwood Feffer LLP, New York, NY; Brett D. Stecker and James M. Ficaro, The Weiser Law Firm, P.C., Berwyn, PA for lead plaintiffs.
    for defendant: Raymond J. Dicamillo and Eliezer Y. Feinstein, Richards, Layton & Finger, P.A., Wilmington, DE; Adam S. Paris, Sullivan & Cromwell LLP, Los Angeles, CA for defendants Morris, Ciporin, Crowe, Meeker, Sanborn, Summers and Williams. Raymond J. DiCamillo, Eliezer Y. Feinstein, Richards, Layton & Finger, P.A., Wilmington, DE; Jonathan D. Polkes, Weil, Gotshal & Manges LLP, New York, NY for defendant Mack. Myron T. Steele, T. Brad Davey and Callan R. Jackson, Potter Anderson & Corroon LLP, Wilmington, DE; Robert J. Liubicic, Scott A. Edelman, Adam Fee and Andrew Lichtenberg, Milbank LLP, Los Angeles, CA and New York, NY for defendant Laplanche. Jody C. Barillare, Charlene S. Shimada, Susan D. Resley, Lucy Wang and Marc J. Sonnenfeld, Morgan, Lewis & Bockius LLP, Wilmington, DE, San Francisco, CA and Philadelphia, PA for defend-ant Dolan. William M. Lafferty, Susan W. Waesco and Sabrina M. Hendershot, Morris, Nichols, Arsht & Tunnell LLP, Wil-mington, DE; Diane M. Doolittle, David M. Grable, Jospeh C. Sarles, Jordan E. Alexander and John Potter, Quinn Emanuel Urquhart & Sullivan LLP, Redwood Shores, CA, Los Angeles, CA and San Francisco, CA for nominal defendant LendingClub Corp.

    Case Number: D68771

    Stockholders in this derivative suit failed to establish that a majority of the demand board faced a substantial likelihood of personal liability.

  • JJS, Ltd. v. Steelpoint CP Holdings, LLC

    Publication Date: 2019-10-30
    Practice Area: Deals and Transactions
    Industry: Consumer Products | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor McCormick
    Attorneys: For plaintiff: Stamatios Stamoulis, Stamoulis & Weinblatt LLS, Wilmington, DE; William J. Caldarelli, Caldarelli Hejmanowski Page & Leer LLP, San Diego, CA for plaintiffs.
    for defendant: Matthew W. Murphy and Nicole M. Henry, Richards, Layton & Finger, P.A., Wilmington, DE for defendants Pro Performance Sports LLC, Caccavo, Potter, Broadhead and Wiseman. Bradley R. Araonstam and R. Garrett Rice, Ross Aronstam & Moritz LLP, Wilmington, DE for defendant Steelpoint CP Holdings, LLC.

    Case Number: D68756

    Plaintiffs alleged sufficient facts to support a breach of fiduciary duty claim due to a conflicted sale transaction, but the court dismissed the remainder of plaintiffs' claims.

  • Kosinski v. GGP Inc.

    Publication Date: 2019-09-11
    Practice Area: Mergers and Acquisitions
    Industry: Investments and Investment Advisory | Real Estate
    Court: Court of Chancery
    Judge: Vice Chancellor McCormick
    Attorneys: For plaintiff: Seth D. Rigrodsky, Brian D. Long and Gina M. Serra, Rigrodsky & Long, P.A, Wilmington, DE; Carl L. Stine and Adam J. Blander, Wolf Popper LLP, New York, NY for plaintiff.
    for defendant: Kevin G. Abrams, John M. Seaman and Matthew L. Miller, Abrams & Bayliss LLP, Wilmington, DE; John A. Neuwirth, Evert J. Christensen, Jr., Seth Goodchild and Matthew S. Connors of Weil, Gotshal & Manges LLP for defendant.

    Case Number: D68697

    A stockholder established a proper purpose, so he was entitled to inspect books and records regarding the value of his shares and possible corporate wrongdoing.