• In re: Forum Mobile, Inc.

    Publication Date: 2021-04-07
    Practice Area: Securities Litigation
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Jeremy D. Anderson, Fish & Richardson, P.C., Wilmington, DE for petitioner.
    for defendant: N/A

    Case Number: D69353

    Delaware had a public policy interest in preventing the use of Delaware entities to circumvent federal se-curities laws, so the court appointed an amicus curiae to provide an independent review before ruling on the pending petition.

  • Scott v. Vantage Corp.

    Publication Date: 2021-02-24
    Practice Area: Securities Litigation
    Industry: Investments and Investment Advisory | Software
    Court: U.S. Court of Appeals for the Third Circuit
    Judge: Judge Shwartz
    Attorneys: For plaintiff:
    for defendant:

    Case Number: D69307

    Plaintiffs failed to establish their claims for misrepresentation or breach of fiduciary duty in connection with the sale of unregistered securities, and the trial court did not err in denying a motion for substitution of parties.

  • Well Thrive Ltd. v. SemiLEDs Corp.

    Publication Date: 2021-01-06
    Practice Area: Securities Litigation
    Industry: Investments and Investment Advisory | Manufacturing
    Court: U.S. District Court of Delaware
    Judge: District Judge Noreika
    Attorneys: For plaintiff: David S. Eagle, Sean M. Brennecke, Klehr Harrison Harvey Branzburg LLP, Wilmington, DE; Robert D. We-ber, Sheppard, Mullin, Richter & Hampton LLP, Los Angeles, CA for plaintiff.
    for defendant: Henry E. Gallagher, Jr., Lauren P. DeLuca, Connolly Gallagher LLP, Wilmington, DE; Dan Woods, Musick, Peeler & Garrett LLP, Los Angeles, CA for defendant.

    Case Number: D69253

    Plaintiff was not entitled to relief on its unjust enrichment claim because a contract governed the parties' relationship, but the court awarded declaratory relief in plaintiff's favor.

  • In re Advance Auto Parts, Inc. Sec. Litig.

    Publication Date: 2020-11-25
    Practice Area: Securities Litigation
    Industry: Investments and Investment Advisory | Retail
    Court: U.S. District Court of Delaware
    Judge: District Judge Andrews
    Attorneys: For plaintiff: P. Bradford deLeeuw, Deleeuw Law LLC, Wilmington, DE; Sharan Nirmul, Jonathan F. Neumann, Raphael Janove, Kessler Topaz Meltzer & Check, LLP, Radnor, PA; Stacey M. Kaplan, Kessler Topaz Meltzer & Check, LLP, San Francisco, CA for plaintiff.
    for defendant: Samuel A. Nolen, Katharine L. Mowery, Richards Layton & Finger, P.A., Wilmington, DE; Douglas P. Baumstein, Claudine Columbres, Susan L. Grace, Camille M. Shepherd, Sequoia Kaul, White & Case LLP, New York, NY for defendant.

    Case Number: D69200

    Certification of class counsel in securities action granted where establishment of all but one of the Cammer and Krogman factors supported a presumption of market efficiency in defendant company's publicly-traded stock.

  • SLF Holdings, LLC v. Uniti Fiber Holdings, Inc.

    Publication Date: 2020-11-18
    Practice Area: Securities Litigation
    Industry: E-Commerce | Technology Media and Telecom
    Court: U.S. District Court of Delaware
    Judge: District Judge Stark
    Attorneys: For plaintiff: Stephen B. Brauerman, Emily A. Letcher, Bayard, P.A., Wilmington, DE; Edward S. Sledge IV, Dylan C. Black, Zachary A. Madonia, Emily M. Ruzic, Stanley E. Blackmon, Bradley Arant Boult Cummings LLP, Bir-mingham, AL for plaintiff.
    for defendant: John P. DiTomo, Sabrina M. Hendershot, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Jerome E. Speegle, Anthony M. Hoffman, Speegle, Hoffman, Holman & Holifield, LLC, Mobile, AL; Blake Rohrbacher, Kelly E. Farnan, Richards, Layton & Finger, P.A., Wilmington, DE; Edmund Polubinski III, Brian M. Burnovski, Davis Polk & Wardwell LLP, New York, NY for defendants.

    Case Number: D69196

    The court granted defendants' motions to dismiss plaintiff's federal securities and state law claims.

  • Keystone Assoc. LLC v. Fulton

    Publication Date: 2020-07-08
    Practice Area: Securities Litigation
    Industry:
    Court: U.S. District Court of Delaware
    Judge: District Judge Noreika
    Attorneys: For plaintiff: Timothy R. Dudderar and Jonathan A. Choa, Potter Anderson & Corroon LLP, Wilmington, DE; David J. Jordan and Michael R. Menssen, Stoel Rives LLP, Salt Lake City, UT for plaintiffs.
    for defendant: Robert J. Katzenstein, Smith, Katzenstein & Jenkins LLP, Wilmington, DE; Steven S. Scholes and Peter B. Allport, McDermott Will & Emery LLP, Chicago, IL; John R. Gerstein, Clyde & Co. US LLP for defendants.

    Case Number: D69044

    Plaintiffs failed to adequately allege a misrepresentation or omission by defendants, so the court dismissed all claims for securities violations.

  • In re: Keryx Biopharmaceuticals, Inc.

    Publication Date: 2020-04-29
    Practice Area: Securities Litigation
    Industry: Biotechnology | Investments and Investment Advisory
    Court: U.S. District Court of Delaware
    Judge: District Judge Connolly
    Attorneys: For plaintiff: Ryan M. Ernst, O’Kelly Ernst & Joyce, LLC, Wilmington, DE; Alexandra B. Raymond, Bragar Eagel & Squire, P.C., New York, NY; Richard A. Acocelli, Michael A. Rogovin and Kelly K. Moran, Weiss Law LLP, New York, NY for plaintiffs.
    for defendant: David E. Ross, Ross, Aronstam & Moritz LLP, Wilmington, DE; Peter L. Welsh and Christian Reigstad, Ropes & Gray LLP, New York, NY for defendants.

    Case Number: D68962

    A proxy statement contained a disclaimer about certain financial projections, so the court dismissed plaintiffs' claims for viola-tions of securities law.

  • 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.

  • Salzberg v. Sciabacucchi

    Publication Date: 2020-04-01
    Practice Area: Securities Litigation
    Industry: E-Commerce
    Court: Delaware Supreme Court
    Judge: Justice Valihura
    Attorneys: For plaintiff: Jason M. Leviton, Joel A. Fleming, Lauren Godles Milgroom and Amanda R. Crawford, Block & Leviton LLP, Boston, MA for plaintiff.
    for defendant: William B. Chandler, III, Bradley D. Sorrels, Lindsay Kwoka Faccenda, Andrew D. Berni, Wilson Sonsini Goodrich & Rosati, P.C., Wilmington, DE; Boris Feldman and David J. Berger. Wilson Sonsini Goodrich & Rosati, P.C., Palo Alto, CA for defend-ants Lake, Anderson, Gurley, Hansen, McCollam, Wood, Ahuja, Carolan, Hastings, Hendricks, Hunt, Leff, Rothrock, Stitch Fix, Inc and Roku, Inc. Catherine G. Dearlove, Anthony M. Calvano and Tyre Tindall, Richards Layton & Finger, P.A., Wil-mington, DE; Michael T. Bongiorno, Wilmer Cutler Pickering Hale & Dorr, LLP, New York, NY; Timothy J. Perla, Wilmer Cutler Pickering Hale & Dorr, LLP, Boston, MA for defendants Salzberg, Bradley, Cool, Fox, Goodman, Hirshberg, Kelley and Blue Apron Holdings, Inc. Kurt M. Heyman, Melissa N. Donimirski and Aaron M. Nelson, Heyman Enerio Gattuso & Hirzel LLP, Wilmington, DE.

    Case Number: Valihura

    Federal forum provisions contained in corporate charters that required actions arising under federal securities law to be filed in a federal court were facially valid. Reversed.

  • Keystone Assoc. LLC v. Barclays Bank PLC

    Publication Date: 2020-01-29
    Practice Area: Securities Litigation
    Industry: Financial Services and Banking | Investments and Investment Advisory
    Court: U.S. District Court of Delaware
    Judge: District Judge Noreika
    Attorneys: For plaintiff: Timothy R. Dudderar and Jonathan A. Choa, Potter Anderson & Corroon LLP, Wilmington, DE; David J. Jordan and Michael R. Menssen, Stoel Rives LLP, Salt Lake City, UT for plaintiff.
    for defendant: Robert S. Saunders and Jeffrey Geier, Skadden, Arps, Slate, Meagher & Flom, LLP, Wilmington, DE and New York, NY for defendant.

    Case Number: D68858

    Plaintiffs failed to satisfy the heightened pleading standard with respect to their fraud and securities claims, and they did not allege a fiduciary relationship in connection with the negligent representation claim.