• Stein v. Blankfein

    Publication Date: 2019-06-12
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Bruce E. Farnan, Michael J. Farnan and Rosemary J. Piergiovanni, Farnan LLP, Wilmington, DE; A. Arnold Gershon and Mi-chael A. Toomey, Barrack, Rodos & Bacine, New York, NY for plaintiff.
    for defendant: Kevin G. Abrams, J. Peter Shindel, Jr. and Matthew L. Miller, Abrams & Bayliss LLP, Wilmington, DE; Robert J. Guiffra, Jr. and David M.J. Rein, Sullivan & Cromwell LLP, New York, NY for director defendants. Gregory V. Varallo, Kevin M. Gallagher and Robert L. Burns, Richards, Layton & Finger, P.A., Wilmington, DE for The Goldman Sachs Group, Inc.

    Case Number: D68597

    The entire fairness standard of review applied to the question of director self-compensation.

  • Smith v. Promontory Fin. Group, LLC

    Publication Date: 2019-05-15
    Practice Area: Corporate Entities
    Industry: Consulting
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: David A. Jenkins and Laurence V. Cronin, Smith Katzenstein & Jenkins LLP, Wilmington, DE for plaintiffs.
    for defendant: Bruce E. Jameson and Eric J. Juray, Prickett, Jones & Elliott, P.A., Wilmington, DE; Robert M. Cary, Alexander S. Zolan and Robert M. Belden, Williams & Connolly LLP, Washington, DC for defendants.

    Case Number: D68564

    The withdrawing member of a limited liability company was entitled to half the value of the company as of the date of with-drawal, less the amount he owed on his capital account.

  • McElrath v. Kalanick

    Publication Date: 2019-04-17
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Transportation
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Michael J. Barry, Jeff A. Almeida and Rebecca A. Musarra, Grant & Eisenhofer, P.A., Wilmington, DE for plaintiff.
    for defendant: R. Judson Scaggs, Jr., Susan W. Waesco and Sabrina M. Hendershot, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Susan S. Muck, Kevin P. Muck and Marie C. Bafus, Fenwick & West LLP, San Francisco, CA for defendants Camp, Graves, Huffinton, Al-Rumayyan, Gurley and Bonderman. Donald J. Wolfe, Jr., T. Brad Davey, J. Matthew Belger and Jacob R. Kirk-ham, Potter Anderson & Corroon LLP, Wilmington, DE for defendant Kalanick. Jody C. Barillare, Susan D. Resley and Marc J. Sonnenfield, Morgan, Lewis & Bockius LLP, Wilmington, DE for defendant Yoo. A. Thompson Bayliss and Michael A. Barlow, Abrams & Bayliss LLP, Wilmington, DE; Mark P. Gimbel, C. William Phillips and Bryant Pulsipher, Covington & Burling LLP, New York, NY and San Francisco, CA for defendant Uber Technologies.

    Case Number: D68533

    Plaintiff in this derivative action failed to demonstrate that demand on the board of directors would have been futile due to the directors' inability to exercise business judgment with regard to the matter.

  • CelestialRX Invs., LLC v. Krivulka

    Publication Date: 2019-04-10
    Practice Area: Corporate Entities | Dispute Resolution
    Industry: Pharmaceuticals
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Michael W. McDermott and David B. Anthony, Berger Harris LLP, Wilmington, DE; Benjamin C. Curcio, Paul F. Campano, Jessica A. Tracy, Michael D. Zahler, and Jason S. Haller Curcio Mirzaian Sirot LLC, Roseland, NJ for plaintiffs.
    for defendant: Garrett B. Moritz and Bejamin Z. Grossberg, Ross Aronstam & Moritz LLP, Wilmington, DE; Andrew E. Anselmi and Zachary D. Wellbrock, McCusker, Anselmi, Rosen & Carvelli, P.C., Florham Park, NJ; Samuel T. Hirzel, II and Aaron M. Nelson, Heyman Enerio Gattuso & Hirzel LLP, Wilmington, DE; Andrew D. Cordo and F. Troupe Mickler IV, Ashby & Geddes, Wilmington, DE; Jody C. Barillare, Morgan, Lewis & Bockius LLP, Wilmington, DE; Brian A. Herman, Morgan, Lewis & Bockius LLP, New York, NY; Ryan P. Newell and Lauren P. DeLuca, Connolly Gallagher, LLP, Wilmington, DE; Phillip A. Rovner and Jonathan A. Choa, Potter Anderson & Corroon LLP, Wilmington, DE for defendants.

    Case Number: D68518

    Claims for breach of restrictive covenants were stayed pending arbitration on the issue of arbitrability given the broad scope of the covenants' arbitration clauses, but dismissed where the court lacked jurisdiction over defendants who did not qualify as a "manager" of the domestic LLC.

  • In re 11 W. Partners, LLC

    Publication Date: 2019-04-03
    Practice Area: Corporate Entities
    Industry: Real Estate
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: C. Barr Flinn, Emily V. Burton, and Daniel Kirshenbaum, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; Michael J. Bowe, Alexander B. Simkin, and John A. Dunn, Kasowitz Benson Torres LLP, New York, NY for plaintiff.
    for defendant: Ryan P. Newell, Kyle Evans Gay, and Shaun Michael Kelly, Connolly Gallagher LLP, Wilmington, DE; Stan Chelney and Philipp Smaylovsky, Chelney Law Group PLLC, New York, NY for defendants.

    Case Number: D68512

    Reformation of LLCs agreements denied where there was no clear and convincing evidence the language of the agreements failed to reflect the members' true intent or that the non-moving party knew the agreements failed to reflect the parties' intent and failed to inform his fellow members.

  • Vintage Rodeo Parent, LLC v. Rent-A-Center, Inc.

    Publication Date: 2019-03-27
    Practice Area: Mergers and Acquisitions
    Industry: Consumer Products | Retail
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: William B. Chandler III, Bradley D. Sorrels, Shannon E. German, Andrew D. Berni, David J. Berger and Katherine Henderson, Wilson Sonsini Goodrich & Rosati, P.C., Wilmington, DE and Palo Alto, CA; Wil-liam M. Lafferty, Thomas W. Briggs, Jr. and Richard Li, Morris, Nichols, Arsht & Tunnell LLP, Wilming-ton, DE; Tariq Mundiya, Jeffrey Korn, Sameer Advani and Shaimaa Hussein, Willkie Farr & Gallagher LLP, New York, NY for plaintiffs.
    for defendant: David R. Ross and S. Michael Sirkin, Ross Aronstam & Moritz LLP, Wilmington, DE; Bruce Van Dalsem, William C. Price, Scott B. Kidman, Andrew J. Rossman, Jane M. Byrne, Corey Worcester, Ellyde R. Thompson, Guyon H. Knight, Elisabeth B. Miller and Hope D. Skibitsky, Quinn Emanuel Urquhart & Sullivan, LLP, Los Angeles, CA and New York, NY for intervenor-plaintiff B. Riley Financial. Michael A. Pittenger, T. Brad Davey, Matthew F. Davis, Jacqueline A. Rogers and Caneel Radinson-Blasucci , Potter Anderson & Corroon LLP, Wilmington, DE; John W. Spiegel, George M. Garvey, Robert L. Dell Angelo and John M. Gildersleeve, Munger Tolles & Olson LLP, Los Angeles, CA for defendant.

    Case Number: D68509

    Plaintiffs failed to demonstrate that a merger agreement's end date was extended or that defendant was barred from exercising its right to terminate the agreement.

  • SC&A Constr., Inc. v. Potter

    Publication Date: 2019-03-20
    Practice Area: Contractual Disputes
    Industry: Construction
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Donald L Logan and Victoria K. Petrone, Logan & Petrone, LLC, New Castle, DE for petitioner.
    for defendant: Samuel L. Guy, Wilmington, DE for respondents.

    Case Number: D68498

    The court denied a contractor's motion to reopen a case for supplemental relief, because the contractor could have raised the issue previously, but did not do so.

  • Hoyd v. Trussway Holdings, LLC

    Publication Date: 2019-03-13
    Practice Area: Mergers and Acquisitions
    Industry: Construction | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Thomas A. Uebler and Kerry M. Porter, McCollom D'Emilio Smith Uebler LLC, Wilmington, DE for petitioner.
    for defendant: Michael F. Bonkowski, Nicholas J. Brannick, G. David Dean and Bradley P. Lehman, Cole Schotz P.C., Wilmington, DE for re-spondent.

    Case Number: D68488

    In this appraisal matter, the court relied on a discounted cash flow analysis to arrive at the fair value of the shares on the date of the merger.

  • Fetch Interactive Television LLC v. Touchstream Tech. Inc.

    Publication Date: 2019-01-16
    Practice Area: Contractual Disputes | Intellectual Property
    Industry: Electronics | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Adam W. Poff, Tammy L. Mercer, and Paul J. Loughman, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; Steven Morgans, Myers Billion LLP, Sioux Falls, SD for plaintiffs.
    for defendant: Herbert W. Mondros, Margolis Edelstein, Wilmington, DE for defendants.

    Case Number: D68422

    Intellectual property licensor properly terminated agreement where licensee breached provision to take no action against or with third-party infringer by offering to sublicense IP, and then failed to comply with licensor's instructions to cure the breach.

  • Himawan v. Cephalon, Inc.

    Publication Date: 2019-01-09
    Practice Area: Contractual Disputes | Mergers and Acquisitions
    Industry: Biotechnology
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Richard L. Renck, Oderah C. Nwaeze, John J. Soroko, Wayne A. Mack, Jessica Priselac and Joseph J. Pangaro of Duane Mor-ris LLP, Wilmington, DE for plaintiffs.
    for defendant: Kevin Shannon and J. Matthew Belger of Potter Anderson & Corroon LLP, Wilmington, DE; Jay P. Lefkowitz, Matthew So-lum, Shireen A. Barday, Amanda B. Elbogen and Z. Payvand Ahdout of Kirkland & Ellis LLP, New York, NY for defendants.

    Case Number: D68417

    The court allowed a breach of contract claim to proceed where it was unclear whether a defendant used commercially reason-able efforts, but plaintiffs failed to state a claim for tortious interference and breach of the implied covenant of good faith and fair dealing.