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  • In re Carvana Co. Stockholders Litig.

    Publication Date: 2024-04-08
    Practice Area: Corporate Entities
    Industry: Automotive | E-Commerce | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Chancellor McCormick
    Attorneys: For plaintiff: Christine M. Mackintosh, Rebecca A. Musarra, Grant & Eisenhofer, P.A., Wilmington, DE; Kimberly A. Evans, Robert Erikson, Irene R. Lax, Block & Leviton LLP, Wilmington, DE; Jason M. Leviton, Amanda R. Crawford, Block & Leviton LLP, Boston, MA; Ned Weinberger, Mark Richardson, Jiahui (Rose) Wang, Labaton Keller Sucharow LLP, Wilmington, DE; Domenico Minerva, John Vielandi, Labaton Keller Sucharow LLP, New York, NY for plaintiffs.
    for defendant: Joseph R. Slights III, Brad D. Sorrels, Shannon E. German, Leah E. León, Wilson Sonsini Goodrich & Rosati, P.C., Wilmington, DE; David E. Ross, Adam D. Gold, R. Garrett Rice, Ross Aronstam & Moritz LLP, Wilmington, DE; Brian M. Lutz, Gibson, Dunn & Crutcher LLP, San Francisco, CA; Colin B. Davis, Katie Beaudin, Gibson, Dunn & Crutcher LLP, Irvine, CA; John L. Reed, Ronald N. Brown, III, Peter H. Kyle, Kelly L. Freund, DLA Piper LLP (US), Wilmington, DE for defendants.
    Case Number: 2020-0415-KSJM

    Court granted special litigation committee's motion to dismiss derivative action where members were sufficiently independent and disinterested and conducted a seven-month-long investigation that uncovered sufficient evidence to support the decision to move to dismiss.

  • AP-fonden v. Activision Blizzard, Inc.

    Publication Date: 2024-04-01
    Practice Area: Mergers and Acquisitions
    Industry: Technology Media and Telecom
    Court: Court of Chancery
    Judge: Chancellor McCormick
    Attorneys: For plaintiff: Michael Hanrahan, Corinne Elise Amato, Kevin H. Davenport, Stacey A. Greenspan, Christine N. Chappelear, Prickett, Jones & Elliott, P.A., Wilmington, DE; Lee D. Rudy, Eric L. Zagar, J. Daniel Albert, Kessler Topaz Meltzer & Check, LLP, Radnor, PA for plaintiff.
    for defendant: Edward B. Micheletti, Lauren N. Rosenello, Michelle L. Davis, Peyton V. Carper, Claire K. Atwood, Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington, DE; Elena C. Norman, Daniel M. Kirshenbaum, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; Stephen P. Blake, Laura Lin, Simpson Thacher & Bartlett LLP, Palo Alto, CA; Sareen K. Armani, Simpson Thacher & Bartlett LLP, Los Angeles, CA for defendants.
    Case Number: 2022-1001-KSJM

    Although the Delaware General Corporation Law only required a corporate board to approve and recommend an essentially complete version of a merger agreement, the draft version approved by defendants failed to meet this standard by omitting key terms and ancillary documents repeatedly referenced throughout the agreement.

  • Javice v. JPMorgan Chase Bank. N.A.

    Publication Date: 2024-02-26
    Practice Area: Labor Law
    Industry: Financial Services and Banking | Legal Services
    Court: Court of Chancery
    Judge: Chancellor McCormick
    Attorneys: For plaintiff: Peter J. Walsh, Jr., Michael A. Pittenger, Hayden J. Driscoll, Potter Anderson & Corroon LLP, Wilmington, DE; Michael A. Barlow, Quinn Emanuel Urquhart & Sullivan, LLP, Wilmington, DE for plaintiff.
    for defendant: Samuel D. Cordle, Peter C. Cirka, Abrams & Bayliss LLP, Wilmington, DE for defendant.
    Case Number: 2022-1179-KSJM

    Court sustained objection to request for advancement of two categories of fees where plaintiff failed to seek advancement of those fees in her original complaint and could not raise them in a subsequent motion for payment.

  • In re Mindbody, Inc., Stockholder Litig.

    Publication Date: 2023-11-27
    Practice Area: Mergers and Acquisitions
    Industry: E-Commerce | Investments and Investment Advisory | Software
    Court: Court of Chancery
    Judge: Chancellor McCormick
    Attorneys: For plaintiff: Joel Friedlander, Jeffrey M. Gorris, Christopher M. Foulds, Friedlander & Gorris, P.A., Wilmington, DE; Gregory V. Varallo, Andrew E. Blumberg, Bernstein Litowitz Berger & Grossmann LLP, Wilmington, DE; Jeroen van Kwawegen, Bernstein Litowitz Berger & Grossmann LLP, New York, NY for plaintiffs.
    for defendant: Lisa A. Schmidt, Robert L. Burns, Matthew D. Perri, John M. O’Toole, Richards, Layton & Finger, P.A., Wilmington, DE; Matthew Solum, P.C., John Del Monaco, Jeffrey R. Goldfine, Jacob M. Rae, Kirkland & Ellis LLP, New York, NY for defendants.
    Case Number: 2019-0442-KSJM

    Stockholders in fiduciary class action who also petitioned for appraisal were entitled to elect between continuing with appraisal or taking the class remedy, even though the law required the corporation's approval for withdrawal of the petition for appraisal.

  • Crispo v. Musk

    Publication Date: 2023-11-13
    Practice Area: Mergers and Acquisitions
    Industry: Technology Media and Telecom
    Court: Court of Chancery
    Judge: Chancellor McCormick
    Attorneys: For plaintiff: Michael Hanrahan, Samuel L. Closic, John G. Day, Robert B. Lackey, Prickett, Jones & Elliott, P.A., Wilmington, DE; Max Huffman, Joseph A. Pettigrew, Scott+Scott Attorneys at Law LLP, San Diego, CA; Justin O. Reliford, Jing-Li Yu, Scott+Scott Attorneys at Law LLP, New York, NY for plaintiff.
    for defendant: Edward B. Micheletti, Lauren N. Rosenello, Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington, DE for defendants.
    Case Number: 2022-0666-KSJM

    Stockholder lacked standing to enforce merger agreement, and the agreement did not confer stockholders with third-party beneficiary status to pursue lost-premium damages while the target company pursued specific performance of the merger.

  • Law Journal Press | Digital Book

    Wrongful Use of Civil Proceedings and Related Torts in Pennsylvania, Second Edition

    Authors: George Bochetto, David P. Heim, John A. O’Connell, Robert S. Tintner

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  • Anderson v. Magellan Health, Inc.

    Publication Date: 2023-07-17
    Practice Area: Mergers and Acquisitions
    Industry: Health Care | Investments and Investment Advisory | Legal Services
    Court: Court of Chancery
    Judge: Chancellor McCormick
    Attorneys: For plaintiff: Ryan M. Ernst, Bielli & Klauder, LLC, Wilmington, DE; Michael A. Rogovin, Weiss Law, Atlanta, GA for plaintiff
    for defendant: Paul J. Lockwood, Arthur R. Bookout, Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington, DE for defendant.
    Case Number: 2021-0202-KSJM

    Supplemental proxy disclosures that were only marginally helpful to shareholders and were not clearly material to their analysis only supported a minimal award of legal fees and costs to plaintiff stockholder.

  • City of Coral Springs Police Officers' Pension Plan v. Dorsey

    Publication Date: 2023-05-23
    Practice Area: Mergers and Acquisitions
    Industry: Financial Services and Banking | E-Commerce | Entertainment and Leisure
    Court: Court of Chancery
    Judge: Chancellor McCormick
    Attorneys: For plaintiff: Thomas Curry, Tayler D. Bolton, Saxena White P.A., Wilmington, DE; David Wales, Sara DiLeo, Saxena White P.A., White Plains, NY; Adam Warden, Jonathan Lamet, Saxena White P.A., Boca Raton, FL for plaintiff.
    for defendant: Raymond J. DiCamillo, Kevin M. Gallagher, Richards, Layton & Finger, P.A., Wilmington, DE; Colin B. Davis, Katie Beaudin, Gibson Dunn & Crutcher LLP, Irvine, CA; Brian M. Lutz, Gibson Dunn & Crutcher LLP, San Francisco, CA; Lissa M. Percopo, Gibson Dunn & Crutcher LLP, Washington, DC for defendants.
    Case Number: 2022-0091-KSJM

    Stockholder failed to plead demand futility where transaction committee who approved acquisition of failing company did not act in bad faith and therefore would not be subject to a substantial risk of personal liability for the acquisition.

  • LPPAS Representative, LLC v. ATH Holding Co., LLC

    Publication Date: 2023-05-16
    Practice Area: Mergers and Acquisitions
    Industry: Federal Government | Health Care | Insurance
    Court: Court of Chancery
    Judge: Chancellor McCormick
    Attorneys: For plaintiff: Kelly L. Freund, Michelle Morgan, DLA Piper LLP, Wilmington, DE; A. Thompson Bayliss, E. Wade Houston, Peter C. Cirka, Abrams & Bayliss LLP, Wilmington, DE for plaintiffs.
    for defendant: Kevin M. Coen, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Thomas Uebler, McCollum D’Emilio Smith Uebler LLC, Wilmington, DE; Glenn M. Kurtz, Elizabeth Stainton, White & Case LLP, New York, NY for defendants.
    Case Number: 2020-0241-KSJM

    Where indemnification provision in company purchase agreement gave sellers the right to participate in the defense of third-party claims brought by government regulators, purchasers breached those rights by unilaterally negotiating a tolling agreement with regulators.

  • Mehra v. Teller

    Publication Date: 2023-03-14
    Practice Area: Corporate Entities
    Industry: Consumer Products
    Court: Court of Chancery
    Judge: Chancellor McCormick
    Attorneys: For plaintiff: John L. Reed, Peter H. Kyle, Kelly L. Freund, DLA Piper LLP, Wilmington, DE; Patrick J. Smith, Brian T. Burns, Smith Zillazor LLP, New York, NY for plaintiffs.
    for defendant: Jon E. Abramczyk, D. McKinley Measley, Alexandra Cumings, Elizabeth A. Mullin, Sebastian Van Oudenallen, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE for defendants.
    Case Number: 2019-0812-KSJM

    Although LLC agreement entitled member to continued economic distribution rights after Holdco distributed the shares it held in its subsidiary, the subsidiary was not an indispensable party where its manager and preferred members were already parties to the action and had authority to amend the subsidiary's LLC agreement.

  • Crispo v. Musk

    Publication Date: 2022-10-25
    Practice Area: Mergers and Acquisitions
    Industry: E-Commerce | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Chancellor McCormick
    Attorneys: For plaintiff: Michael Hanrahan, Samuel L. Closic, John G. Day, Robert B. Lackey, Prickett, Jones & Elliott, P.A., Wilmington, DE; Max Huffman, Joseph A. Pettigrew, Scott+Scott Attorneys at Law LLP, San Diego, CA; Scott R. Jacobsen, Jing-Li Yu, Scott+Scott Attorneys at Law LLP, New York, NY for plaintiff.
    for defendant: Edward B. Micheletti, Lauren N. Rosenello, Ryan M. Lindsay, Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington, DE; Alex Spiro, Andrew J. Rossman, Christopher D. Kercher, Silpa Maruri, Quinn Emanuel Urquhart & Sullivan, LLP, New York, NY for defendants.
    Case Number: 2022-0666-KSJM

    Stockholder could not assert breach of merger agreement seeking specific performance where stockholder was not a party to the merger agreement and the terms of the agreement expressly disclaimed any third-party beneficiary status for stockholder.