• Acela Invs. LLC v. DiFalco

    Publication Date: 2019-05-29
    Practice Area: Corporate Governance
    Industry: Pharmaceuticals
    Court: Court of Chancery
    Judge: Chancellor Bouchard
    Attorneys: For plaintiff: Peter B. Ladig and Brett M. McCartney, Bayard, P.A., Wilmington, DE; David H. Wollmuth and Michael C. Ledley, Wollmuth Maher & Deutsch LLP, New York, NY for plaintiffs
    for defendant: Norman M. Monhait and Carmella P. Keener, Rosenthal, Monhait & Goddess, P.A., Wilmington, DE; William T. Reid, IV, Michael Yoder, Jordan L. Vimont, and Ryan M. Goldstein, Reid Collins & Tsai LLP, Austin, TX for defendants.

    Case Number: D68574

    Judicial dissolution of LLC warranted where manager attempted to amass unilateral control in violation of operating agreement's requirement that managers advise and consent on all board decisions and the operating agreement contained no workable mechanism to allow managers to break their deadlock.

  • Almond v. Glenhill Advisors, LLC

    Publication Date: 2019-04-24
    Practice Area: Mergers and Acquisitions
    Industry: Consumer Products | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Chancellor Bouchard
    Attorneys: For plaintiff: Peter B. Ladig and Sara E. Bussiere, Bayard, P.A., Wilmington, DE; David H. Wollmuth and Michael C. Ledley, Wollmuth Maher & Deutsch LLP, New York, NY; David A. Jenkins, Smith, Katzenstein & Jenkins LLP, Wilmington, DE; Scott J. Watnik, Wilk Auslander LLP, New York, NY; Thomas A. Brown, Morea Schwartz Bradham Friedman & Brown LLP, New York, NY for plaintiffs.
    for defendant: Andrew D. Cordo and F. Troupe Mickler IV, Ashby & Geddes, Wilmington, DE; Adrienne M. Ward and Brian Katz, Olshan Frome Wolosky LLP, New York, NY; John B. Borgan, Ellenoff Grossman & Schole LLP, New York, NY; Douglas D. Herrmann, Pepper Hamilton LLP, Wilmington, DE; Paul B. Carberry, Joshua Weedman, and Erin Smith, White & Case LLP, New York, NY; Frederick B. Rosner, Scott J. Leonhardt, and Jason A. Gibson, The Rosner Law Group LLC, Wilmington, DE; S. Preston Ricardo, Golenbock Eiseman Assor Bell & Peskoe LLP, New York, NY; John D. Hendershot, Susan M, Hannigan, and Brian F. Morris, Richards, Layton & Finger, P.A., Wilmington, DE; Brian B. House, Foley & Lardner LLP, Milwaukee, WI for defendants.

    Case Number: D68534

    Plaintiffs' fee application pursuant to the corporate benefit doctrine denied under equitable principles where plaintiffs opposed company's efforts to judicially validate defective corporate acts identified by plaintiffs to succeed on their larger claim for damages.

  • English v. Narang

    Publication Date: 2019-04-03
    Practice Area: Mergers and Acquisitions
    Industry: Investments and Investment Advisory | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Chancellor Bouchard
    Attorneys: For plaintiff: Blake A. Bennett, Cooch and Taylor, P.A., Wilmington, DE; W. Scott Holleman and Garam Choe, Johnson Fistel, LLP, New York, NY for plaintiffs.
    for defendant: Elena C. Norman and Daniel M. Kirshenbaum, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; Joshua Z. Rabinovitz, Kirkland & Ellis LLP, Chicago, IL; Devora W. Allon, Kirkland & Ellis LLP, New York, NY for defendants.

    Case Number: D68510

    Breach of fiduciary duty following tender offer merger transaction dismissed where plaintiffs failed to present facts supporting allegation that controlling stockholder had motivation to engineer sale for personal liquidity concerns or that the board intentionally depressed company projections in the tender offer recommendation statement.

  • Personal Touch Holding Corp. v. Glaubach

    Publication Date: 2019-03-13
    Practice Area: Corporate Governance | Real Estate
    Industry: Health Care | Real Estate
    Court: Court of Chancery
    Judge: Chancellor Bouchard
    Attorneys: For plaintiff: Blake Rohrbacher, Brian F. Morris and John M. O'Toole, Richards, Layton & Finger, P.A., Wilmington, DE; Jonathan C. Sulli-van and John A. DeMaro of Ruskin Moscou Faltischek, P.C., Uniondale, NY for plaintiff.
    for defendant: Theodore A. Kittila and James G. McMillian, III, Halloran Farkas Kittila LLP, Wilmington, DE for defendant.

    Case Number: D68490

    A corporate officer breached his fiduciary duty by usurping a corporate opportunity to purchase property, so the court awarded damages to the company.

  • Schnatter v. Papa John's Int'l, Inc.

    Publication Date: 2019-01-30
    Practice Area: Corporate Governance
    Industry: Food and Beverage
    Court: Court of Chancery
    Judge: Chancellor Bouchard
    Attorneys: For plaintiff: Peter B. Ladig, Brett M. McCartney and Elizabeth A. Powers, Bayard, P.A. Wilmington, DE; Garland A. Kelley, Glaser Weil LLP, Los Angeles, CA for plaintiff.
    for defendant: Blake Rohrbacher, Robert L. Burns, Brian F. Morris and Kevin M. Regan, Richards, Layton & Finger, P.A., Wilmington, DE for defendant.

    Case Number: D68444

    A company failed to demonstrate that a director's request for records was made for an improper purpose, so the court required the company to provide relevant documents, including emails and text messages.

  • Busch v. Richardson

    Publication Date: 2018-11-28
    Practice Area: Corporate Entities | Deals and Transactions | Securities Litigation
    Industry: Manufacturing
    Court: Court of Chancery
    Judge: Chancellor Bouchard
    Attorneys: For plaintiff: Peter B. Andrews, Craig J. Springer, and David M. Sborz, Andrews & Springer LLC, Wilmington, DE; Jeffrey Norton and Roger A. Sachar, Newman Ferrara LLP, New York, NY; Peter Safirstein and Elizabeth S. Metcalf, Safirstein Metcalf LLP, New York, NY for plaintiff
    for defendant: Blake Rohrbacher, Kevin M. Gallagher, and John M. O'Toole, Richards, Layton & Finger, P.A., Wilmington, DE; P. Clarkson Collins, Jr., Morris James LLP, Wilmington, DE; Garrett B. Moritz and Roger S. Stronach, Ross Aronstam & Moritz LLP, Wilmington, DE for defendants.

    Case Number: D68366

    Derivative complaint arising from related-party transactions dismissed after board exercised business judgment to decline stockholder's litigation demand, where stockholder failed to plead that demand was made in reliance on company's inaccurate representations or that a majority of the directors were not disinterested or independent.

  • Post Holdings, Inc. v. NPE Seller Rep LLC

    Publication Date: 2018-11-14
    Practice Area: Corporate Entities | Deals and Transactions
    Industry: Food and Beverage
    Court: Court of Chancery
    Judge: Chancellor Bouchard
    Attorneys: For plaintiff: Rodger D. Smith II, Ryan D. Stottmann and Alexandra M. Cumings of Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Richard B. Walsh, Jr. and Evan Z. Reid of Lewis Rice LLC, St. Louis, MO for plaintiffs.
    for defendant: Kevin R. Shannon, Christopher N. Kelly and Jay G. Stirling of Potter, Anderson & Corroon LLP, Wil-mington, DE; William C. O'Neil, Jeffrey J. Huelskamp and Michael A. Meneghini of Winston & Strawn LLP, Chicago, IL for defendants.

    Case Number: D68356

    Plaintiffs could not enjoy benefits under the contract while refusing to perform their obligations under it.

  • Cedarview Opportunities Master Fund, L.P. v. Spanish Broad. Sys., Inc.

    Publication Date: 2018-09-26
    Practice Area: Communications and Media | Corporate Governance | Foreign Corrupt Practices Act
    Industry: Technology Media and Telecom
    Court: Court of Chancery
    Judge: Chancellor Bouchard
    Attorneys: For plaintiff: John E. Abramczyk, D. McKinley Measley, and Alexandra M. Cumings, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Shireen A. Barday, Kirkland & Elliss LLP, New York, NY; Patrick J. Nash, Kirkland & Ellis LLP, Chicago, IL, attorneys for plaintiffs
    for defendant: Robert S. Saunders, Matthew P. Majarian, and Haley S. Stern, Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington, DE, attorneys for defendant.

    Case Number: D68295

    Court declined to dismiss breach of contract claim where there was genuine dispute of material fact as to whether defendant company incurred indebtedness in violation of certificate of designation with preferred stockholders.

  • Almond v. Glenhill Advisors LLC

    Publication Date: 2018-08-29
    Practice Area: Mergers and Acquisitions
    Industry:
    Court: Court of Chancery
    Judge: Chancellor Bouchard
    Attorneys: For plaintiff: Peter B. Ladig, Bayard, P.A, Wilmington, DE; David H. Wollmuth and Michael C. Ledley, Wollmuth Maher & Deutsch LLP, New York, NE; Norman M. Monhait and P. Bradford deLeeuw, Rosenthal Monhait & Goddess, P.A., Wilmington, DE; Scott J. Watnkid, Wilk Auslander LLP, New York, NY; Thomas A. Brown, Morea Schwartz Bradham Friedman & Brown LLP, New York, NY, attorneys for plaintiffs
    for defendant: Andrew D. Cordo and F. Troupe Mickler IV, Ashby & Geddes, Wilmington, DE; Adrienne M. Ward and Brian Katz, Olshan Frome Wolosky LLP, New York, NY; John B. Horgan, Ellenoff Grossman & Schole LLP, New York, NY; Douglas D. Herrmann, Pepper Hamilton LLP, Wilmington, DE; Paul B. Carberry, Joshua Weedman, and Erin Smith, White & Case LLP, New York, NY; Frederick B. Rosner, Scott J. Leonhardt, and Jason A. Gibson, The Rosner Law Group LLC, Wilmington, DE; S. Preston Ricardo, Golenbock Eiseman Assor Bell & Peskoe LLP, New York, NY; John D. Hendershot, Susan M. Hannigan, and Brian F. Morris, Richards, Layton & Finger P.A., Wilmington, DE; Bryan B. House, Foley & Lardner LLP, Milwaukee, WI, attorneys for defendants.

    Case Number: D68262

    Overpayment claims challenging merger transaction were derivative claims extinguished by merger where defendant was a controlling stockholder and enjoyed no increase in its economic stake or voting power.

  • In re Appraisal of Solera Holdings, Inc.

    Publication Date: 2018-08-15
    Practice Area: Mergers and Acquisitions
    Industry: Software
    Court: Court of Chancery
    Judge: Chancellor Bouchard
    Attorneys: For plaintiff: Stuart M. Grant, Christine M. Mackintosh, Vivek Upadhya, Daniel L. Berger, Lawrence M. Rolnick, Ste-ven M. Hecht and Jonathan M. Kass for petitioners
    for defendant: David E. Ross, S. Michael Sirkin, Yousef J. Riemer, Devora W. Allon, Elliot C. Harvey Schatmeier, Rich-ard Nicholson and Madelyn A. Morris for respondent.

    Case Number: D68249

    In the appraisal proceeding filed by shareholders following a merger, the court gave dispositive weight to the deal price less synergies.