• Transperfect Global, Inc. v. Ross Aronstam & Moritz LLP

    Publication Date: 2022-03-29
    Practice Area: Corporate Governance
    Industry: Legal Services | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Chancellor McCormick
    Attorneys: For plaintiff: Frank E. Noyes, II, Offit Kurman, P.A., Wilmington, DE; Douglas Capuder, Capuder Fazio Giacoia LLP, New York, NY for plaintiff.
    for defendant: David E. Ross, Bradley R. Aronstam, Eric D. Selden, S. Michael Sirkin, Adam D. Gold, Benjamin Z. Grossberg, Ross Aronstam & Moritz LLP, Wilmington, DE; for defendants.

    Case Number: D69759

    The court held that subject matter jurisdiction could be exercised by Chancery Court because the order giving authority to the custodian was issued by Chancery Court. Further, the court held that plaintiff failed to state a claim upon relief could be granted. Plaintiff's motion to dismiss denied; defendant's motion to dismiss granted.

  • Lockton v. Rogers

    Publication Date: 2022-03-15
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Software
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Daniel A. Griffith, Whiteford, Taylor & Preston LLC, Wilmington, DE; Allan B. Diamond, Jason Fulton, and John B. Sample, Diamond Mccarthy LLP, Houston, TX for plaintiffs.
    for defendant: Stephen C. Norman, Nicholas D. Mozal, Callan R. Jackson, Potter Anderson & Corroon LLP, Wilmington, DE. Albert H. Manwaring IV, Matthew F. Lintner, Kirsten Zeberkiewicz, Morris James LLP, Wilmington, DE; Robert A. Van Kirk, Sarah F. Kirkpatrick, Williams & Connolly LLP, Washington, DC for defendants.

    Case Number: D69745

    The court held that 1) the record was not sufficient to find that Corwin cleansed the merger transaction and 2) that plaintiffs adequately pled a breach of fiduciary duty against defendants.

  • Deane v. Maginn

    Publication Date: 2022-03-15
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Software
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: David H. Holloway, Shlansky Law Group, LLP, Wilmington, DE; Colin R. Hagan, David J. Shlansky, Shlansky Law Group, LLP, Chelsea, MA for plaintiffs.
    for defendant: Jody C. Barillare, Amy M. Dudash, Morgan, Lewis & Bockius LLP, Wilmington, DE; Michael D. Blanchard, Morgan, Lewis & Bockius, Boston, MA for defendants

    Case Number: D69744

    The court held that plaintiffs' claim against defendant for allowing warrants to expire was time-barred.

  • Gower v. Trux, Inc.

    Publication Date: 2022-03-08
    Practice Area: Corporate Governance
    Industry: Software
    Court: Court of Chancery
    Judge: Vice Chancellor Fioravanti
    Attorneys: For plaintiff: Brandon W. McCune, Blank Rome LLP, Wilmington, DE; Patrick J. Hannon, Hartley Michon Robb Hannon, LLP, Boston, MA for plaintiff.
    for defendant: Richard M. Beck, Sean M. Brennecke, Klehr Harrison Harvey Branzburg LLP, Wilmington, DE; Lawrence P. Murray, Gregory Paonessa, Burns & Levinson LLP, Boston, MA; Kevin J. Mangan, Womble Bond Dickinson (US) LLP, Wilmington, DE; Hayden J. Silver, III, Womble Bond Dickinson (US) LLP, Raleigh, NC; S. Michael Sirkin, R. Garrett Rice, Ross Aronstam & Moritz LLP, Wilmington, DE; Scott C. Ford Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, P.C., Boston, MA; Samuel T. Hirzel, Elizabeth A. DeFelice, Heyman Enerio Gattuso & Hirzel LLP, Wilmington, DE; Kevin T. Peters, Michael D. Brier, Gesmer Updegrove LLP, Boston, MA for defendants.

    Case Number: D69734

    The court held that plaintiff adequately pled a breach of contract claim where he alleged the applicable agreement contained an unambiguous requirement that notice of share sales be given to all stockholders.

  • Strategic Inv. Opportunities LLC v. Lee Enter., Inc.

    Publication Date: 2022-03-01
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: John D. Hendershot, Matthew W. Murphy, John T. Miraglia, Richards, Layton & Finger, P.A., Wilmington, DE; Adrienne Marie Ward, Lori Marks-Esterman, Peter M. Sartorius, Theodore J. Hawkins, Olshan Frome Wolosky LLP, New York, NY for plaintiff.
    for defendant: Michael A. Pittenger, Christopher N. Kelley, Daniel M. Rusk, IV, Justin T. Hymes, Potter Anderson & Corroon LLP, Wilmington, DE; Stefan Atkinson, Byron Pacheco, Brittney Nagle, Kirkland & Ellis LLP, New York, NY for defendants.

    Case Number: D69729

    The court held that the defendant company, through its board members, did not breach bylaw requirements when it rejected the proposed nomination to the board because the nomination notice was deficient, and the actions of the board were rea-sonable and equitable.

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  • In Re Camping World Holdings, Inc.

    Publication Date: 2022-02-15
    Practice Area: Corporate Governance
    Industry: Automotive | Consumer Products | Retail
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Martin S. Lessner, Emily V. Burton, Kevin P. Rickert, Young Conaway Stargatt & Taylor LLP, Wilmington, DE; Brian J. Robbins, Stephen J. Oddo, Gregory E. Del Gaizo, Robbins LLP, San Diego, CA for plaintiffs.
    for defendant: Gregory P. Williams, Matthew D. Perri, Richards, Layton & Finger, P.A., Wilmington, DE; Andrew B. Clubok, Latham & Watkins LLP, Washington, DC; Eric R. Swibel, Latham & Watkins LLP, Chicago, IL for defendants.

    Case Number: D69711

    The court held that the complaint failed to plead particularized facts demonstrating that demand was futile as to a majority of the demand board members.

  • Simons v. Brookfield Asset Mgmt. Inc.

    Publication Date: 2022-02-08
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Manufacturing
    Court: Court of Chancery
    Judge: Chancellor McCormick
    Attorneys: For plaintiff: Kevin H. Davenport, Samuel L. Closic, Eric J. Juray, Prickett, Jones & Elliott, P.A., Wilmington, DE; Brian J. Robbins, Gregory Del Gaizo, Stephen J. Oddo, Eric M.Carrino, Robbins LLP, San Diego, CA for plaintiff.
    for defendant: Bradley R. Aronstam, R. Garrett Rice, Ross Aronstam & Moritz LLP, Wilmington, DE; Geoffrey J. Ritts, Jones Day, Cleveland, OH; Marjorie P. Duffy, Jones Day, Columbus, OH; Blake Rohrbacher, Alexander M. Krischik, Andrew L. Milam, Richards, Layton & Finger, P.A., Wilmington, DE; Lawrence Portnoy, Davis Polk &Wardwell LLP, New York, NY for defendants.

    Case Number: D69705

    The court held that a majority of the board at the time of filing were outside directors who did not receive a material personal benefit from the challenged transaction, did not face a substantial likelihood of liability because of an exculpation provision, and did not lack independence from the controlling stockholder who was a party to the challenged transaction.

  • In Re Multiplan Corp. Stockholders' Litig.

    Publication Date: 2022-01-18
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Gregory V. Varallo, Bernstein Litowitz Berger & Grossmann LLP, Wilmington, DE; Mark Lebovitch, Daniel E. Meyer, Margaret Sanborn- Lowing, Joseph W. Caputo, Bernstein Litowitz Berger & Grossmann LLP, New York, NY for plaintiffs.
    for defendant: Raymond J. DiCamillo, Kevin M. Gallagher, Matthew D. Perri, Richards, Layton & Finger, P.A., Wilmington, DE; Jonathan K. Youngwood, Rachel S. Sparks Bradley, Simpson Thacher & Bartlett LLP, New York, NY; Stephen P. Blake, Simpson Thacher & Bartlett LLP, Palo Alto, CA; Bradley R. Aronstam, S. Michael Sirkin, Ross Aronstam & Moritz LLP, Wilmington, DE; John A. Neuwirth, Joshua S. Amsel, Evert J. Christensen, Jr., Matthew S. Connors, Nicole E. Prunetti, Weil, Gotshal & Manges LLP, New York, NY for defendants.

    Case Number: D69679

    The court found that plaintiff's claim was direct, not derivative, the claims were not exclusively contractual, and that the claims were not holder claims predicated on stockholder inaction.

  • Harcum v. Lovoi

    Publication Date: 2022-01-18
    Practice Area: Corporate Governance
    Industry: Energy | Mining and Resources
    Court: Court of Chancery
    Judge: Vice Chancellor Fioravanti
    Attorneys: For plaintiff: Blake A. Bennett, Cooch and Taylor, P.A., Wilmington, DE; Michael J. Palestina, Kahn Swick & Foti, LLC, New Orleans, LA; Juan E. Monteverde, Miles D. Schreiner, Monteverde & Associates PC, New York, NY for plaintiff.
    for defendant: Rolin P. Bissell, James M. Yoch, Jr., Alberto E. Chávez, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; Michael C. Holmes, Virginia DeBeer, Vinson & Elkins L.L.P., Dallas, TX for defendants.

    Case Number: D69678

    The court held that plaintiffs' complaint failed to state causes of action against alleged controlling and conflicted stockholders and directors for breach of fiduciary duties when they approved a merger.

  • Tygon Peak Capital Mgt., LLC v. Mobile Inv. Investco Co., LLC

    Publication Date: 2022-01-18
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Zurn
    Attorneys: For plaintiff: Marc S. Casarino, Karine Sarkisian, Kelly Rowe, White and Williams LLP, Wilmington, DE; Jarrod D. Shaw and Keisha O. Coleman, McGuire Woods LLP, Pittsburgh, PA, for plaintiff.
    for defendant: Kevin M. Gallagher, Angela Lam, Christian C.F. Roberts, Richards, Layton, & Finger, P.A., Wilmington, DE for defendants.

    Case Number: D69681

    The court held that plaintiff venture capital firm failed to state claims against its investors for tort and quasi-contract claims.