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Publication Date: 2024-04-15
Practice Area: Mergers and Acquisitions
Industry: E-Commerce | Investments and Investment Advisory | Technology Media and Telecom
Court: Delaware Supreme Court
Judge: Justice Seitz
Attorneys: For plaintiff: Michael Hanrahan, J. Clayton Athey, Corinne Elise Amato, Kevin H. Davenport, Stacey A. Greenspan, Jason W. Rigby, Prickett, Jones & Elliott, P.A., Wilmington, DE; Lee D. Rudy, Eric L. Zagar, J. Daniel Albert, Maria T. Starling, Kessler Topaz Meltzer & Check, LLP, Radnor, PA; Robert D. Klausner, Klausner, Kaufman, Jensen & Levinson, Plantation, FL for appellants.
for defendant: William M. Lafferty, John P. DiTomo, Elizabeth A. Mullin, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Theodore N. Mirvis, Jonathan M. Moses, Ryan A. McLeod, Alexandra P. Sadinsky, Canem Ozyildirim, Wachtell, Lipton, Rosen & Katz, New York, NY; Blake Rohrbacher, Matthew W. Murphy, Sandy Xu, Richards, Layton & Finger, P.A., Wilmington, DE; Maeve O’Connor, Susan R. Gittes, Amy C. Zimmerman, Debevoise & Plimpton LLP, New York, NY; David E. Ross, Adam D. Gold, Ross Aronstam & Moritz LLP, Wilmington, DE; Joshua G. Hamilton, Meryn C.N. Grant, Latham & Watkins LLP, Los Angeles, CA; Blair Connelly, Latham & Watkins LLP, New York, NY; Michele D. Johnson, Latham & Watkins LLP, Costa Mesa, CA for appellees.
Case Number: 368, 2022
Chancery court erroneously applied business judgment rule to review transaction where controlling stockholder stood on both sides and received a non-ratable benefit where not all members of the company's separation committee were independent from the controller.
Publication Date: 2024-01-29
Practice Area: Corporate Governance
Industry: Investments and Investment Advisory | Technology Media and Telecom
Court: Delaware Supreme Court
Judge: Justice Seitz
Attorneys: For plaintiff: Gregory V. Varallo, Daniel E. Meyer, Bernstein Litowitz Berger & Grossmann LLP, Wilmington, DE; Mark Lebovitch, Edward G. Timlin, Bernstein Litowitz Berger & Grossmann LLP, New York, NY for appellants.
for defendant: William B. Chandler III, Brad D. Sorrels, Amy L. Simmerman, Daniyal M. Iqbal, Nora M. Crawford, Wilson Sonsini Goodrich & Rosati, P.C., Wilmington, DE; Mark R. Yohalem, Wilson Sonsini Goodrich & Rosati, P.C., Los Angeles, CA; William M. Lafferty, Susan W. Waesco, Alexandra M. Cumings, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE for appellees.
Case Number: 2022-1007
Ability to sue corporate officers for fiduciary violations was not a "power, preference, or special right" of a class of stock and thus a proposed amendment to add an officer exculpation clause did not require a separate class vote under the Delaware General Corporation Law.
Publication Date: 2024-01-15
Practice Area: Damages
Industry: Construction | Hospitality and Lodging | Real Estate
Court: Delaware Supreme Court
Judge: Justice Seitz
Attorneys: For plaintiff: Matthew J. Rifino, Kate R. Buck, Shannon D. Humiston, McCarter & English, LLP, Wilmington, DE for appellants.
for defendant: Colin M. Shalk, Kenneth M. Doss, Casarino Christman Shalk Ransom & Doss, P.A., Wilmington, DE for appellee.
Case Number: 94, 2023
Trial court properly granted remittitur where jury verdict including inflated repair costs was based on testimony from witnesses unqualified to testify about inflation and increased expenses.
Publication Date: 2023-09-25
Practice Area: Insurance Litigation
Industry: Financial Services and Banking | Insurance
Court: Delaware Supreme Court
Judge: Justice Seitz
Attorneys: For plaintiff: Thomas E. Hanson, Jr., William J. Burton, Barnes & Thornburg LLP, Wilmington, DE; Lilit Asadourian, Alice Kyureghian, Barnes & Thornburg LLP, Los Angeles, CA; Aaron D. Lindstrom, Barnes & Thornburg LLP, Grand Rapids, MI, for plaintiff below, appellee and cross-appellant.
for defendant: John L. Reed, DLA Piper LLP (US), Wilmington, DE; David Newmann, Courtney Devon Taylor, Victoria A. Joseph, Brittany Armour, Hogan Lovells US LLP, Philadelphia, PA; Robert J. Katzenstein, Smith Katzenstein & Jenkins LLP, Wilmington, DE for defendant below, appellant and cross-appellee.
Case Number: 360, 2022
Ruling that appellee's alleged violation of the False Claims Act arose out of false certifications that the loans it endorsed were eligible for government insurance, not the professional services it provided to borrowers through mortgage banking, mortgage underwriting, and loan servicing; the court concluded that the FCA charges and eventual settlement did not fall within the professional services exclusion in appellant's management liability policy.
Publication Date: 2023-07-10
Practice Area: Corporate Governance
Industry: Real Estate
Court: Delaware Supreme Court
Judge: Justice Seitz
Attorneys: For plaintiff: Max B. Walton, Kyle Evans Gay, Connolly Gallagher LLP, Newark, DE; Michael K. Ross, Serine Consolino, Aegis Law Group LLP, Washington, DC for appellant.
for defendant: Deborah B. Baum, Pillsbury Winthrop Shaw Pittman LLP, Washington, DC; Stephen B. Brauerman, Elizabeth A. Powers, Bayard, P.A., Wilmington, DE for appellees.
Case Number: 163, 2022
Stock issuance that diluted interest of stockholder with one-half interest who had filed a custodian action to break board election deadlock was not inequitable where issuance was reasonably calculated to prevent default under company's key contracts and had the benefit of retaining a key employee, while stockholder was not coerced as she retained a swing vote.
Law Journal Press | Digital Book
Authors: George Bochetto, David P. Heim, John A. O’Connell, Robert S. Tintner
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Publication Date: 2023-06-06
Practice Area: Administrative Law
Industry: Automotive | Retail | State and Local Government
Court: Delaware Supreme Court
Judge: Justice Seitz
Attorneys: For plaintiff: Kelly E. Farnan, Tyler E. Cragg, Richards, Layton & Finger, P.A., Wilmington, DE; Felicia H. Ellsworth, Sofie C. Brooks, Wilmer Cutler Pickering Hale and Dorr LLP, Boston, MA; Ari Holtzblatt, Leon T. Kenworthy, Wilmer Cutler Pickering Hale and Dorr LLP, Washington, D.C. for appellant.
for defendant: George T. Lees III, Delaware Department of Transportation, Dover, DE for appellee.
Case Number: 375, 2022
DMV erred in interpreting Franchise Act to include a ban on the direct sales model, and vehicle manufacturer with no third-party dealers did not qualify as a "manufacturer" under the Act's definition.
Publication Date: 2023-01-31
Practice Area: Insurance Litigation
Industry: Insurance | Mining and Resources
Court: Delaware Supreme Court
Judge: Justice Seitz
Attorneys: For plaintiff: David J. Baldwin, Peter C. McGivney, Berger Harris LLP, Wilmington, DE; Martha Sheehy, Sheey Law Firm, Billings, MT; Kyle A. Gray, Holland & Hart LLP, Billings, MT for appellant.
for defendant: Kurt M. Heyman, Aaron M. Nelson, Heyman Enerio Gattuso & Hirzel, LLP, Wilmington, DE; Scott B. Schreiber, William C. Perdue, Andrew T. Tutt, Samuel I. Ferenc, Arnold & Porter Kaye Scholer LLP, Washington, D.C.; John C. Phillips Jr., David A. Bilson, Phillips, Mclaughlin & Hall, P.A., Wilmington, DE; Geoffrey W. Heineman, Jung H. Park, John J. Iacobucci Jr., Ropers Majeski, PC, New York, NY; John L. Reed, DLA Piper LLP, Wilmington, DE; Gregory F. Fischer, Cozen O’Connor, Wilmington, DE; Angelo G. Savino, Cozen O’Connor, New York, NY for appellees.
Case Number: 24, 2022
Superior court did not err in applying law of state of incorporation to resolution of directors' and officers' insurance coverage dispute where the policy applied to D&O liability across multiple jurisdictions, as state of incorporation had the strongest connection to the dispute.
Publication Date: 2023-01-03
Practice Area: Corporate Governance
Industry: Energy | Investments and Investment Advisory | Transportation
Court: Delaware Supreme Court
Judge: Justice Seitz
Attorneys: For plaintiff: William Savitt, Sarah K. Eddy, Adam M Gogolak, Wachtell, Lipton, Rosen & Katz, New York, NY; Daniel A. Mason, Paul, Weiss, Rifkind, Wharton & Garrison LLP, Wilmington, DE; Stephen P. Lamb, Andrew G. Gordon, Harris Fischman, Robert N. Kravitz, Carter E. Greenbaum, Paul, Weiss, Rifkind, Wharton & Garrison LLP, New York, NY; Srinivas M. Raju, Blake Rohrbacher, Matthew D. Perri, John M. O’Toole, Richards, Layton & Finger, P.A., Wilmington, DE; Rolin P. Bissell, Young Conaway Stargatt & Taylor LLP, Wilmington, DE for appellants.
for defendant: A. Thompson Bayliss, J. Peter Shindel, Jr., Daniel G. Paterno, Eric A. Veres, Samuel D. Cordle, Abrams & Bayliss LLP, Wilmington, DE for appellees.
Case Number: 2021-0700-PWG
Member controlling general partner in Master Limited Partnership was correct party to determine whether opinion of counsel to exercise call right was acceptable, meaning that general partner and related entities were exculpated from liability to limited partners due to the presumption of good faith in reliance on opinion of counsel imposed by the limited partnership agreement.
Publication Date: 2022-09-06
Practice Area: Deals and Transactions
Industry: Investments and Investment Advisory
Court: Delaware Supreme Court
Judge: Justice Seitz
Attorneys: For plaintiff: Anthony A. Rickey, Margrave Law LLC, Wilmington, DE; Raffi Melkonian, Wright Close & Bargar, LLP, Houston, TX for appellant.
for defendant: Brian Farnan, Michael Farnan, Rosemary Piergiovanni, Farnan LLP, Wilmington, DE; A. Arnold Gershon, Michael A. Toomey, Barrack, Rodos & Bacine, New York, NY; Kevin G. Abrams, J. Peter Shindel, Jr., Matthew L. Miller, Abrams & Bayliss LLP, Wilmington, DE; Robert J. Giuggra, Jr., David M.J. Rein, Sullivan & Cromwell LLP, New York, NY; Kevin M. Gallagher, Richards, Layton & Finger, P.A., Wilmington, DE for appellees.
Case Number: D69949
Court reversed the chancery court's decision approving a litigation settlement which included forward-looking statements that bound absent interested parties from bringing claims in the future, in violation of the Due Process Clause.
Publication Date: 2022-08-09
Practice Area: Land Use and Planning
Industry: Chemicals and Materials | Manufacturing | State and Local Government
Court: Delaware Supreme Court
Judge: Justice Seitz
Attorneys: For plaintiff: Richard A. Forsten, Pamela J. Scott, Elizabeth S. Fenton, Saul Ewing Arnstein & Lehr LLP, Wilmington, DE; Stephen A. Swedlow, Athena D. Dalton, Quinn Emanuel Urquhart & Sullivan, LLP, Chicago, IL for appellant.
for defendant: Mary A. Jacobson, Nicholas J. Brannick, New Castle County Office of Law, New Castle, DE for appellee.
Case Number: D69910
Lack of proper notice of zoning amendment could not render challenge to county ordinance timely under statute of repose where tolling was not applicable to statutes of repose.
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