• Delaware Business Court Insider

    Superior Court: Insurance Definition Covers Verizon's $24M in Defense Costs

    February 26, 2021

    Superior Court Judge Eric M. Davis applied a broader definition of the insurance contract term "securities claim" that required coverage in a case over a challenge to a corporate spinoff and merger that was funded by debt instruments.

  • Delaware Business Court Insider | News

    Twitter Shareholder Suit Slams CEO for Conflict of Interest, Privacy Concerns

    February 24, 2021

    The complaint filed by attorney P. Bradford deLeeuw and with Berman Tabacco attorneys of counsel accuses Jack Dorsey, who is CEO of both companies, of giving Square and other advertisers access to data Twitter users thought was private with the aim of generating revenue for both Twitter and Square.

  • Delaware Business Court Insider | Commentary

    'AmerisourceBergen' and Section 220 Demands in Del.: Implications and Possible Fixes

    February 24, 2021

    The Delaware Supreme Court recently affirmed the Delaware Court of Chancery's post-trial decision ordering AmerisourceBergen Corp. to produce corporate books and records under Section 220 of the Delaware General Corporation Law in order to permit stockholders to investigate AmerisourceBergen's role in the distribution of opioids.

  • Delaware Business Court Insider

    Elimination of Statutory Barriers May Lead to New Wave of Public Benefit Corporations

    February 24, 2021

    On Aug. 1, 2013, a new subchapter of the General Corporation Law of the State of Delaware (the DGCL) was added to enable Delaware for-profit corporations to be incorporated as or to become a Delaware public benefit corporation, or "PBC."

  • Lacey v. Mota-Velasco

    Publication Date: 2021-02-24
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Mining and Resources
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Peter B. Andrew, Craig J. Springer, David Sborz, Andrews & Springer LLC, Wilmington, DE; Jeremy S. Friedman, Spencer Oster, David F.E. Tejtel, Friedman Oster & Tejtel PLLC, Bedford Hills, NY for plaintiff.
    for defendant: William M. Lafferty, John P. DiTomo, Elizabeth A. Mullin, Morris, Nichols, Arsht & Tunnell LLP, Wilming-ton, DE; Bradley J. Benoit, Bryan Dumesnil, Bracewell LLP, Houston, TX; Srinivas M. Raju, Andrew J. Peach, Matthew W. Murphy, Richards, Layton & Finger, P.A., Wilmington, DE; Steven R. Selsberg, S. Sels-berg Law, PLLC, Houston, TX; Sylvia A. Mayer, S. Mayer Law PLLC, Houston, TX; Peter J. Walsh, Jr., Mat-thew F. Davis, Elizabeth M. Taylor, Potter Anderson & Corroon LLP, Wilmington, DE; Robert J. Giuffra, Jr., David M.J. Rein, Matthew A. Peller, Y. Carson Zhou, Sullivan & Cromwell LLP, New York, NY for defend-ants.

    Case Number: D69305

    The court granted defendant directors' motion to dismiss a breach of contract claim because plaintiff's claim was essentially one for breach of fiduciary duty.

  • Meso Scale Diagnostics, LLC v. Roche Diagnostics GMBH

    Publication Date: 2021-02-24
    Practice Area: Judges
    Industry: Biotechnology | Manufacturing
    Court: Delaware Supreme Court
    Judge: Per Curiam
    Attorneys: For plaintiff: David L. Finger, Finger & Slanina, Wilmington, DE; William S. Consovoy, J. Michael Connolly, Consovoy McCarthy PLLC, Arlington, VA; Patrick Strawbridge, Consovoy McCarthy PLLC, Boston, MA for plaintiffs.
    for defendant: Matthew E. Fischer, Timothy R. Dudderar, J. Matthew Belger, Andrew H. Sauder, Potter Anderson & Cor-roon LLP, Wilmington, DE; Thomas L. Shriner, Jr., James T. McKeown, Foley & Lardner LLP, Milwaukee, WI for defendants.

    Case Number: D69306

    The Delaware Supreme Court affirmed a ruling which denied plaintiffs' request to reopen a judgment, be-cause a judge's failure to recuse himself did not render the judgment void and plaintiff failed to demonstrate extraordinary circumstances.

  • Firefighters' Pension Sys. of the City of Kansas City, Missouri Trust v. Presidio, Inc.

    Publication Date: 2021-02-24
    Practice Area: Mergers and Acquisitions
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Michael Hanrahan, Samuel L. Closic, Stephen D. Dargitz, Jason W. Rigby, Prickett, Jones & Elliott, P.A., Wilmington, DE; Lee D. Rudy, J. Daniel Albert, Stacey A. Greenspan, Kessler Topaz Meltzer & Check, LLP, Radnor, PA for plaintiff.
    for defendant: Kevin R. Shannon, Berton W. Ashman, Jr., Daniel M. Rusk, IV, Potter Anderson & Corroon LLP, Wilmington, DE; Ryan A. McLeod, Alexandra P. Sadinsky, Wilfred T. Beaye, Jr., Wachtell, Lipton, Rosen & Katz, New York, NY; William M. Lafferty, John P. DiTomo, Alexandra M. Cumings, Sara Toscano, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Scott B. Luftglass, Rebecca L. Martin, Anne S. Aufhauser, Fried, Frank, Harris, Shriver & Jacobson LLP, New York, NY; Raymond J. DiCamillo, Kevin M. Gallagher, Megan E. O’Connor, Richards, Layton & Finger, P.A, Wilmington, DE; John L. Hardiman, Sullivan & Cromwell LLP, New York, NY; A. Thompson Bayliss, E. Wade Houston, Abrams & Bayliss LLP, Wilmington, DE; Matthew Solum, Courtney A. Carvill, Kirkland & Ellis LLP, New York, NY for defendants.

    Case Number: D69302

    CEO held personal interest in proposed acquisition transaction that he was not entitled to exculpation for, and company's financial advisor and winning bidder aided and abetted breaches of fiduciary duties by exchanging information regarding the company's bidding process.

  • 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.

  • In re: Washington Mut., Inc.

    Publication Date: 2021-02-24
    Practice Area: Bankruptcy
    Industry: Financial Services and Banking | Investments and Investment Advisory
    Court: U.S. Court of Appeals for the Third Circuit
    Judge: Judge Fisher
    Attorneys: For plaintiff:
    for defendant:

    Case Number: D69304

    District court properly affirmed bankruptcy court's overruling of preferred securities class member's objection to settlement where examination of the merits demonstrated that liquidating trust properly negotiated and entered into the settlement.

  • Snyder v. E.I. DuPont de Nemours, Inc., LLC

    Publication Date: 2021-02-24
    Practice Area: Employment Litigation
    Industry: Chemicals and Materials
    Court: U.S. District Court of Delaware
    Judge: District Judge Connolly
    Attorneys: For plaintiff: Gary W. Aber, Aber, Baker & Over, Wilmington, DE for plaintiff.
    for defendant: Margaret M. DiBianca, Clark Hill PLC, Wilmington, DE; John M. Nolan, John M. Nolan, III, Jackson Lewis PC, Philadelphia,PA for defendant.

    Case Number: D69308

    Employee failed to demonstrate that her termination or surveillance by her employer violated the Family and Medical Leave Act.