• Greenhouse v. Polychain Fund I LP

    Publication Date: 2019-06-12
    Practice Area: Corporate Entities
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Joseph H. Huston, Jr. and Stacey A. Scrivani, Stevens & Lee, P.C., Wilmington, DE; Todd C. Toral and AnnaMarie A. VanHoesen, Jenner & Block LLP, Los Angeles, CA for plaintiff.
    for defendant: Jeffrey M. Gorris and Christopher P. Quinn, Friedlander & Gorris, P.A., Wilmington, DE; J. Noah Hagey and Taylor Altman, Braunhagey & Borden LLP, New York, NY for defendants.

    Case Number: D68593

    A former limited partner no longer had standing to request books and records, because his interest in the company was fully redeemed at the time of the request.

  • Germaninvestments AG v. Allomet Corp.

    Publication Date: 2019-06-05
    Practice Area: Contractual Disputes
    Industry: Investments and Investment Advisory | Manufacturing
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: R. Craig Martin, Ethan H. Townsend and Peter H. Kyle, Wilmington, DE for plaintiffs
    for defendant: John P. DiTomo, Ryan D. Stottmann and Coleen Hill, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE for defendants

    Case Number: D68585

    A forum selection clause in the parties' agreement was mandatory. Motion to dismiss granted, without prejudice.

  • Forman v. CentrifyHealth, Inc.

    Publication Date: 2019-05-08
    Practice Area: Corporate Entities
    Industry: Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Michael A. Weidinger and Joanne P. Pinckney, Pinckney, Weidinger, Urban & Joyce LLC, Wilmington, DE for plaintiff.
    for defendant: William M. Lafferty, Susan W. Waesco, and Sabrina M. Hendershot, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Bruce C. Doeg, John S. Hicks, and Christopher E. Thorsen, Baker, Donelson, Bearman, Caldwell & Berkowitz, PC, Nashville, TN for defendants.

    Case Number: D68552

    Claim to company equity dismissed pursuant to laches where company repeatedly provided plaintiff over an 11-year period with documentation explicitly demonstrating that company did not acknowledge plaintiff's ownership of the equity at issue.

  • Winklevoss Capital Fund v. Shaw

    Publication Date: 2019-03-13
    Practice Area: Business Torts
    Industry: Investments and Investment Advisory | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: P. Clarkson Collins, Jr. and Albert J. Carroll, Morris James LLP, Wilmington, DE; Charles J. Harder, Harder LLP, Beverly Hills, CA for plaintiffs.
    for defendant: Richard G. Placey, McCracken Walker & Rhoads, LLP, Wilmington, DE; Carlos F. Gonzales and Matthew Pace of Rimon, P.C. , Coral Gables, FL and New York, NY for defendants.

    Case Number: D68492

    Defendants' counterclaims were time-barred, and defendants failed to demonstrate that tolling applied.

  • Hoeller v. Tempur Sealy Int'l, Inc.

    Publication Date: 2019-02-27
    Practice Area: Corporate Governance
    Industry: Consumer Products
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Thomas A. Uebler, McCollom D'Emilio Smith Uebler LLC, Wilmington, DE; Melinda A. Nicholson, Kahn Swick & Foti, LLC, New Orleans, LA; Roger Sachar, Newman Ferrara LLP, New York, NY for plaintiff.
    for defendant: Kenneth J. Nachbar and Sabrina Hendershot, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Jordan D. Hershman, Sarah Paige and Michael D. Blanchard, Morgan, Lewis & Bockius LLP, Boston, MA and Hartford, CT for defendant.

    Case Number: D68473

    Stockholder failed to establish a credible basis for demanding to inspect the company's books and records, because he made no showing of mismanagement or other wrongdoing.

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  • A&J Capital, Inc. v. Law Office of Krug

    Publication Date: 2019-02-13
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Kurt M. Heyman, Melissa N. Donimirski, and Elizabeth A. DeFelice, Heyman Enerio Gattuso & Hirzel, LLP, Wilmington, DE for plaintiff.
    for defendant: Stephen B. Brauerman and Sara E. Bussiere, Bayard, P.A., Wilmington, DE; Craig H. Marcus, Glaser Weil Fink Howard Avchen & Shapiro LLP, Los Angeles, CA for defendant.

    Case Number: D68454

    Members erred in removing manager where manager specifically bargained for a "for cause" removal standard and members lacked cause to remove manager.

  • In re Xura, Inc. Stockholder Litig.

    Publication Date: 2019-01-02
    Practice Area: Mergers and Acquisitions
    Industry: Investments and Investment Advisory | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: A. Thompson Bayliss and David A. Seal, Abrams & Bayliss LLP, Wilmington, DE for plaintiff.
    for defendant: Robert S. Saunders, Arthur R. Bookout, Matthew P. Majarian, and Haley S. Stern, Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington DE; John L. Reed, Ethan H. Townsend, Peter H. Kyle, and Harrison S. Carpenter, DLA Piper LLP, Wilmington, DE for defendants.

    Case Number: D68407

    Objecting shareholder could maintain parallel appraisal and breach of fiduciary duty claims where breach claims were based on failure to disclose material facts and shareholder sought traditional remedies for breach of fiduciary duty, such as rescission or disgorgement, rather than a quasi-appraisal remedy.

  • In re Fitbit, Inc. Stockholder Derivative Litig.

    Publication Date: 2018-12-26
    Practice Area: Corporate Governance
    Industry: Consumer Products | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Peter B. Andrews, Craig J. Springer and David M. Sborz, Andrews & Springer LLC, Wilmington, DE; Jessica Zeldin of Rosenthal, Monhait & Goddess, P.A., Wilmington, DE, Melinda A. Nicholson and Michael R. Robinson, Kahn Swick & Foti, LLC, Madisonville, LA; Robert C. Schubert of Schubert Jonckheer & Kolbe LLP, San Francisco, CA; Edward F. Haber of Shapiro Haber & Urmy LLP, Boston, MA for plaintiffs.
    for defendant: Elena C. Norman, Young Conaway Stargatt & Taylor, LLP; Wilmington, DE; Jordan Eth, Anna Erickson White and Ryan M. Keats, Morrison & Foerster LLP, San Francisco, CA for defendants.

    Case Number: D68405

    Plaintiffs demonstrated demand futility, and their allegations were sufficient to state a claim against the company's board of directors for breach of fiduciary duty.

  • Zayo Group, LLC v. Latisys Holdings, LLC

    Publication Date: 2018-12-19
    Practice Area: Contractual Disputes | Deals and Transactions
    Industry: Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Elizabeth S. Fenton and Scott W. Perkins, Saul Ewing Arnstein & Lehr LLP, Wilmington, DE for plaintiff.
    for defendant: Philip Trainer, Jr. and Marie M. Degnan, Ashby & Geddes, Wilmington, DE; Mark D. Cahill, Phoebe Fischer-Groban and Christina G.T. Lau, Choate Hall & Steward LLP, Boston, MA for defendant.

    Case Number: D68397

    Plaintiff did not establish that defendant breached the parties' sale agreement by failing to disclose non-renewals by some of its major customers, because the agreement did not require such notice.

  • In re Tangoe, Inc. Stockholders Litig.

    Publication Date: 2018-12-05
    Practice Area: Corporate Governance | Securities Litigation
    Industry: Investments and Investment Advisory | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Kurt M. Heyman and Melissa N. Donimirski, Heyman Enerio Gattuso & Hirzel LLP, Wilmington, DE; Jason M. Leviton and Joel A. Fleming, Block & Leviton LLP, Boston, MA; Jeremy S. Friedman, Spencer Oster, and David F.E. Tejtel, Friedman Oster & Tejtel PLLC, New York, NY for plaintiff
    for defendant: Catherine G. Dearlove and Sarah A. Galetta, Richards, Layton & Finger, P.A., Wilmington, DE; William H. Paine, Timothy J. Perla, Peter A. Spaeth, and Alexandra C. Bourdreau, Wilmer Cutler Pickering Hale and Dorr LLP, Boston, MA for defendants.

    Case Number: D68375

    Stockholder's derivative complaint not dismissed where he adequately pled company failed to inform stockholders prior to their approval and asserted a reasonable claim for breach of duty of loyalty.