• ITG Brands, LLC v. Reynolds Am., Inc.

    Publication Date: 2023-10-16
    Practice Area: Mergers and Acquisitions
    Industry: Consumer Products | Manufacturing
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Stephen C. Norman, Matthew F. Davis, Tyler J. Leavengood, Potter Anderson & Corroon LLP, Wilmington, DE; Elizabeth B. McCallum, Gilbert S. Keteltas, Carey S. Busen, Evan M. Mannering, Baker & Hostetler, LLP, Washington, D.C.; Jim W. Phillips, Jr., Kimberly M. Marston, Brooks, Pierce, McLendon, Humphrey & Leonard, LLP, Greensboro, NC; Charles E. Coble, Brooks, Pierce, McLendon, Humphrey & Leonard, LLP, Raleigh, NC for plaintiff.
    for defendant: Gregory P. Williams, Rudolf Koch, Robert L. Burns, Matthew D. Perri, Richards, Layton & Finger, P.A., Wilmington, DE; Noel J. Francisco, C. Kevin Marshall, William D. Coglianese; Jones Day, Washington, D.C.; Stephanie E. Parker, Katrina L.S. Caseldine, Jones Day, Atlanta, GA; David B. Alden, Kevin P. Riddles; Jones Day, Cleveland, OH; Elli Leibenstein, Greenberg Traurig, LLP, Chicago, IL; Stephen L. Saxl, Greenberg Traurig, LLP, New York, NY; Andrea Shwayri Ferraro, Greenberg Traurig, P.A., West Palm Beach, FL for defendants.

    Case Number: 2017-0129-LWW

    Although seller was entitled to recover compensation for settlement payments it made based on post-closing sales of various acquired brands, trial was necessary to determine acquirers' entitlement to offsets and the availability of specific performance for future settlement payments.

  • Zohar III Ltd. v. Stila Styles, LLC

    Publication Date: 2022-06-14
    Practice Area: Corporate Entities
    Industry: Consumer Products | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: C. Barr Flinn, Emily V. Burton, Lauren Dunkle Fortunato, Alberto E. Chávez, Kevin P. Rickert, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE for plaintiff.
    for defendant: Patricia R. Urban, Elizabeth Wilburn Joyce, Megan Ix Brison, Pinckney, Weidinger, Urban & Joyce LLC, Wilmington, DE; Kathleen M. Miller, Robert K. Beste, III, Smith, Katzenstein & Jenkins LLP, Wilmington, DE; Monica K. Loseman, Gibson, Dunn & Crutcher LLP, Denver, CO for defendants.

    Case Number: D69848

    Transaction authorized by LLC manager solely within her capacity that issued new class of equity in and amending the rights of the new class and existing classes was void as a matter of contract where the LLC's operating agreement expressly granted the right to amend to certain existing classes of members.

  • Ryan v. Buckeye Partners, L.P.

    Publication Date: 2022-02-22
    Practice Area: Mergers and Acquisitions
    Industry: Distribution and Wholesale | Energy | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Blake A. Bennett, Dean R. Roland, Cooch and Taylor, P.A., Wilmington, DE; Clinton A. Krislov, Kenneth T. Goldstein, Christopher M. Hack, Krislov & Associates, Ltd., Chicago, IL; Samuel B. Edwards, Ryan Cook, Shepherd, Smith, Edwards & Kantas, LLP, Houston, TX for plaintiff.
    for defendant: William M. Lafferty, Ryan D. Stottmann, Sabrina M. Hendershot, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Gary A. Bornstein, Rory A. Leraris, Cravath, Swaine & Moore LLP, New York, NY; Jeffrey L. Moyer, Srinivas M. Raju, Tyler E. Cragg, Richards, Layton & Finger, P.A., Wilmington, DE; Andrew W. Hammond, Steven A. Levy, White & Case LLP, New York, NY for defendants.

    Case Number: D69718

    The court held in this class action that plaintiffs failed to plead sufficient facts to support their breach of contract and breach of implied covenant claims relating to a merger that was approved by a majority of unitholders.

  • SphereCommerce, LLC v. Caulfield

    Publication Date: 2022-02-15
    Practice Area: Contracts
    Industry: Software | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: William M. Lafferty, Kevin M. Coen, Sarah P. Kaboly, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Timothy W. Knapp, P.C., Howard M. Kaplan, Aleschia D. Hyde, Kirkland & Ellis LLP, Chicago, IL for plaintiffs/counterclaim defendants.
    for defendant: Tammy L. Mercer, M. Paige Valeski, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; Evan C. Borges, Matthew S. Ingles, Greenberg Gross LLP, Costa Mesa, CA for defendants and counterclaim/third party plaintiffs.

    Case Number: D69713

    The court held that the non-disparagement clause contained in the restrictive covenant agreement between the parties was clearly a restrictive covenant.

  • Levy Family Investors, LLC v. Oars + Alps LLC

    Publication Date: 2022-02-08
    Practice Area: Contracts
    Industry: Consumer Products | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Rudolf Koch, Matthew D. Perri, Richards, Layton & Finger, P.A., Wilmington, DE; Greg Shinall, Michael G. Dickler, Sperling & Slater, P.C., Chicago, IL for plaintiffs.
    for defendant: Robert S. Saunders, Sarah R. Martin, Michelle L. Davis, Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington, DE; Ryan D. Stottmann, Miranda N. Gilbert, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Tamir Young, Studin Young PC, Hauppauge, NY; Peter B. Ladig, Elizabeth A. Powers, Sarah T. Andrade, Bayard, P.A., Wilmington, DE for defendants.

    Case Number: D69703

    The court held that because there were two competing and reasonable interpretations of certain contract language, the contract was ambiguous, and the ambiguity barred a motion to dismiss as a matter of law or on the pleadings.

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  • Erisman v. Zaitsev

    Publication Date: 2022-01-11
    Practice Area: Corporate Entities
    Industry: Software
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Richard Jones, Peter C. McGivney, Berger Harris LLP, Wilmington, DE; Brian M. Gottesman, Gabell Beaver LLC, Wilmington, DE for plaintiffs.
    for defendant: Daniel A. Griffith, Quinn Griffith, Whiteford Taylor & Preston LLC, Wilmington, DE; William F. Ryan, Jr., Whiteford Taylor & Preston LLP, Baltimore, MD for defendant.

    Case Number: D69671

    The court held that plaintiffs' claims against two directors for breach of contract and breach of fiduciary duties failed to ad-equately state the elements of the claims.

  • SPay, Inc. v. Stack Media Inc.

    Publication Date: 2022-01-04
    Practice Area: Mergers and Acquisitions
    Industry: Software
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: John A. Sensing, Clarissa R. Chenoweth-Shook, Potter Anderson & Corroon LLP, Wilmington, DE; Dylan P. Kletter, Anthony J. Boccamazzo, Kelsey D. Bond, Brown Rudnick LLP, Hartford, CT for plaintiff.
    for defendant: William D. Sullivan, William A. Hazeltine, Sullivan Hazeltine Allinson LLC, Wilmington, DE; Peter Skinner, Duane Loft, David Barillari, Lindsey Ruff, Anastasia Cembrovska, Boies Schiller Flexner LLP, New York, NY; Donna L. Culver, Derek C. Abbott, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Sean D. Malloy, Jennifer D. Armstrong, McDonald Hopkins LLC, Cleveland, Ohio; Geoffrey G. Grivner, Kody M. Sparks, Buchanan Ingersoll & Rooney PC. Wilmington, DE; Sidney S. Liebesman, Fox Rothschild LLP, Wilmington, DE; Stephanie Resnick, John C. Fuller, Fox Rothschild LLP, Philadelphia, PA for defendants.

    Case Number: D69663

    The court held it had subject matter jurisdiction over all claims though some were common law rather than equitable claims.

  • Amgine Tech. (US), Inc. v. Miller

    Publication Date: 2021-12-21
    Practice Area: Corporate Entities
    Industry: Software
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Emily V. Burton, Alberto E. Chávez, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE for plaintiff.
    for defendant: Srinivas M. Raju, Angela Lam, Richards, Layton & Finger, P.A., Wilmington, DE; Michael C. Holmes, Margaret Dunlay Terwey, Meredith S. Jeanes, Vinson & Elkins LLP, Dallas, TX; Christopher E. Duffy, David A. Hoffman, W. Logan Lewis, Vinson & Elkins LLP, New York, NY for defendants.

    Case Number: D69646

    The court held that 1) defendant's challenge to venue was not persuasive, 2) plaintiff did indeed state a claim for inversion under rules for notice pleading, and 3) plaintiff failed to state a claim for voiding the stock agreement under §205.

  • Feurer v. Zuckerberg

    Publication Date: 2021-10-20
    Practice Area: Corporate Governance
    Industry: E-Commerce | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Daniel K. Astin, Ciardi Ciardi & Astin, Wilmington, DE; Richard D. Greenfield, Marguerite R. Goodman, Ann M. Caldwell, Greenfield & Goodman LLC, Philadelphia, PA; Albert A. Ciardi III, Walter W. Gouldsbury III, Ciardi, Ciardi & Astin, Philadelphia, PA; Kevin H. Davenport, Samuel L. Closic, John G. Day, Elizabeth Wang, Prickett, Jones & Elliott, P.A., Wilmington, DE; Peter B. Andrews; Craig J. Springer, David M. Sborz, Andrews & Springer, LLC; Geoffrey M. Johnson, Scott+Scott Attorneys At Law LLP, Cleveland Heights, OH; Donald A. Broggi, William C. Fredericks, Scott R. Jacobsen, Jing-Li Yu, Scott+Scott Attorneys At Law LLP, New York, NY; Daniel B. Rehns, Frank R. Schirripa, Kurt M. Hunciker, Kathryn Hettler, Hach Rose Schirripa & Cheverie LLP, New York, NY; Brian J. Robbins, Stephen J. Oddo, Gregory E. Del Gaizo, Rob-bins LLP, San Diego, CA; Thomas J. McKenna, Gregory M. Egleston, Gainey McKenna & Egleston, New York, NY; Joseph J. Tabacco, Jr., Daniel E. Barenbaum, Berman Tabacco, San Francisco, CA; Joseph W. Cotchett, Mark Molumphy, Julia Peng, Cotchett Pitre & McCarthy LLP; Thaddeus J. Weaver, Dilworth Paxson LLP, Wilmington, DE; Frederic S. Fox, Laurence D. King, Hae Sung Nam, Donnie Hall, Aaron Schwartz, Kaplan Fox & Kilsheimer LLP, New York, NY; Kathleen A. Herkenhoff, Kaplan Fox & Kilsheimer LLP, Oakland, CA; Catherine Pratsinakis, Dilworth Paxson LLP, Philadelphia, PA; Nathan A. Cook, Mae Oberste, Block & Leviton LLP, Wilmington, DE; Kurt M. Heyman, Melissa N. Donimirski, Aaron M. Nelson, Heyman Enerio Gattuso & Hirzel LLP, Wilmington, DE; Jason M. Leviton, Joel Fleming, Lauren G. Milgroom, Block & Leviton LLP, Boston, MA for plaintiffs.
    for defendant: David E. Ross, R. Garrett Rice, Ross Aronstam & Moritz LLP, Wilmington, DE; Orin Snyder, Gibson, Dunn & Crutcher LLP, New York, NY; Brian M. Lutz, Gibson, Dunn & Crutcher LLP, San Francisco, CA; Paul J. Collins, Gibson, Dunn & Crutcher LLP, Palo Alto, CA; Joshua S. Lipshutz, Gibson, Dunn & Crutcher LLP, Washington, DC for defendants.

    Case Number: D69574

    The court held that consolidation of cases was not appropriate where one case's derivative plaintiffs made no demand on the corporate board and the other case's single plaintiff chose to make a demand that was subsequently refused.

  • Genworth Fin., Inc. Consol. Derivative Litig.

    Publication Date: 2021-10-13
    Practice Area: Corporate Governance
    Industry: Insurance | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: P. Bradford deLeeuw, deLeeuw Law LLC, Wilmington, DE; David R. Scott, Scott+Scott Attorneys at Law LLP, Colchester, CT; Thomas L. Laughlin IV, Scott Jacobsen, Scott+Scott Attorneys at Law LLP, New York, NY; Robert C. Schubert, Willem F. Jonckheer, Dustin L. Schubert, Schubert Jonckheer & Kilbe LLP, San Francisco, CA; Robert B. Weiser, James M. Ficaro, The Weiser Law Firm P.C., Berwyn, PA; Brett D. Stecker, Shuman, Glenn & Stecker, Ardmore, PA; Michael I. Fistel, Jr., Johnson & Weaver, LLP, Marietta, GA; Corey D. Holzer, Holzer & Holzer, LLC, Atlanta, GA for plaintiffs.
    for defendant: Srinivas M. Raju, Richards, Layton & Finger, P.A., Wilmington, DE; Greg A. Danilow, Caroline Hickey Zalka, John A. Neuwirth, Evert J. Christensen, Jr., Amanda K. Pooler, Weil, Gotshal & Manges LLP, New York, NY for defendants.

    Case Number: D69571

    Plaintiffs in this derivative action failed to adequately plead demand futility and they also failed to allege claims for breach of fiduciary duty against officers and directors, so the court granted defendants' motions to dismiss.