• Seokoh, Inc. v. Lard-PT, LLC

    Publication Date: 2021-04-21
    Practice Area: Corporate Entities
    Industry: Consumer Products
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Jacob R. Kirkham, Kobre & Kim LLP, Wilmington, DE; Robin J. Baik, Leif T. Simonson, S. Nathan Park, Kobre & Kim LLP, New York, NY for petitioner.
    for defendant: John G. Harris, Peter C. McGivney, Berger Harris LLP, Wilmington, DE; Stuart Kagen, Russell Bogart, Ka-gen, Caspersen & Bogart PLLC, New York, NY for respondent.

    Case Number: D69373

    The court found that petitioner had alleged a reasonably conceivable basis upon which judicial dissolution was warranted, so it denied respondent's motion to dismiss.

  • Giesecke+Devrient Mobile Security Am., Inc. v. NXT-ID, Inc.

    Publication Date: 2021-03-31
    Practice Area: Corporate Entities
    Industry: Financial Services and Banking
    Court: Court of Chancery
    Judge: Vice Chancellor Fioravanti
    Attorneys: For plaintiff: Lewis H. Lazarus, K. Tyler O’Connell, Bryan Townsend, Morris James LLP, Wilmington, DE; Aryeh S. Portnoy, Emily Alban, Crowell & Moring LLP, Washington, DC for plaintiff.
    for defendant: S. Mark Hurd, Alexandra M. Cummings, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Michael T. Sullivan, David E. Danovitch, Clark A. Freeman, Sullivan & Worcester LLP, New York, NY for defendant.

    Case Number: D69345

    The plain language of a contract provided that a holder of preferred stock was entitled to dividends at a higher rate in perpetuity.

  • Jacob v. Bloom Energy Corp.

    Publication Date: 2021-03-10
    Practice Area: Corporate Entities
    Industry: Energy | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Blake A. Bennett, Cooch and Taylor, P.A., Wilmington, DE; Sam Bonderoff, James Ostaszewski, Matthew Hendrickson, Zamansky LLC, New York, NY for plaintiffs.
    for defendant: Kevin G. Abrams, John M. Seaman, Eliezer Y. Feinstein, Abrams & Bayliss LLP, Wilmington, DE for defendant.

    Case Number: D69321

    Stockholder established a proper purpose for the inspection of corporate books and records, but the court limited the scope of some of the requests.

  • Mehra v. Teller

    Publication Date: 2021-02-17
    Practice Area: Corporate Entities
    Industry: Consumer Products
    Court: Court of Chancery
    Judge: Vice Chancellor McCormick
    Attorneys: For plaintiff: John L. Reed, Peter H. Kyle, Kelly L. Freund, DLA Piper LLP (US), Wilmington, DE; Patrick J. Smith, Brian T. Burns, Nicholas J. Karasimas, Smith Villazor LLP, New York, NY for plaintiffs.
    for defendant: Jon E. Abramczyk, D. McKinley Measley, Alexandra M. Cumings, Elizabeth A. Mullin, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE for defendants.

    Case Number: D69300

    Although one member of a limited liability company contrived circumstances leading to a deadlock, the facts established that the parties had an irreconcilable disagreement which warranted dissolution of the com-pany.

  • AluminumSource, LLC v. LLFlex, LLC

    Publication Date: 2021-02-03
    Practice Area: Corporate Entities
    Industry: Manufacturing
    Court: Delaware Superior Court
    Judge: Judge Davis
    Attorneys: For plaintiff: Thad J. Bracegirdle, Bayard, P.A., Wilmington, DE; Elliot Richardson, Michele D. Dougherty, Ryan D. Gibson, Korey Richardson LLC, Chicago, IL for plaintiff.
    for defendant: Benjamin A. Smyth, McCarter & English, LLP, Wilmington, DE; Andrew Gold, Erica Gomer, Akerman LLP, Fort Lauderdale, FL for defendant.

    Case Number: D69279

    Fraudulent inducement claim failed where plaintiff had merely asserted dispute over calculation of the price adjustment to the contract purchase price, which was more appropriately characterized as a breach of contract claim rather than a fraud claim.

  • Lenois v. Lawal

    Publication Date: 2021-01-27
    Practice Area: Corporate Entities
    Industry: Energy
    Court: Court of Chancery
    Judge: Vice Chancellor Fioravanti
    Attorneys: For plaintiff: Michael J. Barry, Rebecca Musarra, Grant & Eisenhofer, P.A., Wilmington, DE; Gordon Z. Novod, Grant & Eisenhofer, P.A., New York, NY; Peter B. Andrews, Craig J. Springer, Jessica Zeldin, David M. Sborz, Andrews & Springer LLC, Wilmington, DE; Jeremy Friedman, Spencer Oster, David Tejtel, Friedman Oster & Tejtel PLLC, New York, NY for plaintiff.
    for defendant: Myron T. Steele, Matthew F. Davis, Jaclyn C. Levy, Potter, Anderson & Corroon LLP, Wilmington, DE; David T. Moran, Christopher R. Bankler, Jackson Walker L.L.P., Dallas, TX; David J. Teklits, Kevin M. Coen, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Mark Oakes and Ryan Meltzer, Norton Rose Fulbright US LLP, Austin, TX; John Byron, Norton Rose Fulbright US LLP, Houston, TX; Srinivas M. Raju, Robert L. Burns, Matthew D. Perri, Richards, Layton & Finger, P.A., Wilmington, DE; Greg Waller, Hunton Andrews Kurth L.L.P., Houston, TX for defendants.

    Case Number: D69272

    Bankruptcy trustee could not substitute for derivative plaintiff and assert claims subject to final judgment on behalf of the company where the "newly discovered evidence" in support of relief from judgment was in the company's possession and therefore knowledge of the evidence would be imputed to the trustee.

  • Harris v. Harris FRC Corp.

    Publication Date: 2021-01-20
    Practice Area: Corporate Entities
    Industry: Consulting
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Joel Friedlander, Christopher M. Foulds, Christopher Quinn, Friedlander & Gorris, P.A., Wilmington, DE for petitioner.
    for defendant: Maura L. Burke, Courtney A. Emerson, Katelyn M. Crawford, Fox Rothschild LLP, Wilmington, DE; Emily A. Kaller, Greenbaum, Rowe, Smith & Davis LLP, Woodbridge, NJ for respondent.

    Case Number: D69264

    Confidentiality order in appraisal action could be modified to allow for additional plenary claims that came to light during discovery in the appraisal proceedings.

  • Mack v. Rev Worldwide, Inc.

    Publication Date: 2021-01-20
    Practice Area: Corporate Entities
    Industry: Financial Services and Banking
    Court: Court of Chancery
    Judge: Vice Chancellor Zurn
    Attorneys: For plaintiff: William M. Kelleher, Phillip A. Giordano, Gordon, Fournaris & Mammarella, P.A., Wilmington, DE; Robert A. Giacovas, Lainie E. Cohen, Jacob A. Englander, Lazare Potter Giacovas & Moyle LLP, New York, NY for plaintiff.
    for defendant: Raymond W. Cobb, O’Hagan Meyer LLP, Wilmington, DE; Kevin M. O’Hagan, Shane M. Bradwell, O’Hagan Meyer LLP, Chicago, IL for defendant.

    Case Number: D69268

    Delaware was an improper forum for plaintiff's claims, because the parties' agreements contained forum selection clauses in favor of other states.

  • Alexandria Venture Invs., LLC v. Verseau Therapeutics, Inc.

    Publication Date: 2021-01-06
    Practice Area: Corporate Entities
    Industry: Biotechnology | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Fioravanti
    Attorneys: For plaintiff: Raymond J. DiCamillo, Megan E. O’Connor, Richards, Layton & Finger, P.A., Wilmington, DE; Luke Cadigan, Cooley LLP, Boston, MA; Patrick Gunn, Cooley LLP, San Francisco, CA for plaintiffs
    for defendant: David J. Teklits, Thomas P. Will, Morris, Nichols, Arsht, & Tunnell LLP, Wilmington, DE for defendant.

    Case Number: D69246

    Stockholder whose financing proposal was rejected by the board was entitled to limited inspection of books and records after raising reasonable inferences that directors' decision to reject the proposal may have been motivated by conflicts and self-interest.

  • AmerisourceBergen Corp. v. Lebanon County Employees Ret. Fund

    Publication Date: 2020-12-23
    Practice Area: Corporate Entities
    Industry: Distribution and Wholesale | Investments and Investment Advisory | Pharmaceuticals
    Court: Delaware Supreme Court
    Judge: Justice Traynor
    Attorneys: For plaintiff: Stephen C. Norman, Jennifer C. Wasson, Tyler J. Leavengood, Potter Anderson & Corroon LLP, Wilmington, DE; Michael D. Blanchard, Amelia G. Pennington, Morgan, Lewis & Bockius LLP, Boston, MA for appellant.
    for defendant: Samuel L. Closic, Eric J. Juray, Prickett, Jones & Elliott, P.A., Wilmington, DE; Gregory V. Varallo, Bernstein Litowitz Berger & Grossman LLP, Wilmington, DE; Eric L. Zagar, Michael C. Wagner, Christopher M. Windover, Kessler Topaz Meltzer & Check, LLP, Radnor, PA; Frank R. Schirripa, Daniel B. Rehns, Hillary Nappi, Hach Rose Schirripa & Cheverie LLP, New York, NY; David Wales, Andrew Blumberg, Bernstein Litowitz Berger & Grossmann LLP, New York, NY for appellees.

    Case Number: D69232

    Stockholders could file inspection demand after asserting credible circumstantial evidence that corporate directors and managers had engaged in wrongdoing.