• GKC Strategic Value Master Fund, LP v. Baker Hughes Inc.

    Publication Date: 2019-07-17
    Practice Area: Civil Procedure
    Industry: Energy | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Ned Weinberger, Thomas Curry, Eric J. Belfi, Ira A. Schochet and David J. Schwartz, Labaton Sucharow LLP, Wilmington, DE and New York, NY for petitioners.
    for defendant: Kevin M. Coen and Sabrina M. Hendershot, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Arthur F. Golden, Andrew Ditchfield and Andrew S. Gehring, Davis Polk & Wardwell LLP, New York, NY for respondent. John D. Hendershot and Susan M. Hannigan, Richards, Layton & Finger, P.A., Wilmington, DE; Paula Anderson and Alan Goudiss, Shearman & Sterling LLP, New York, NY for third-party General Elec. Co. Mark Lebovitch, Bernstein Litowitz Berger & Grossman LLP, New York, NY for non-party Tri-State Joint Fund.

    Case Number: D68633

    Where respondents failed to timely file confidential documents redacted in good faith, the court held that unredacted versions of the documents should be made available in the public record of the case.

  • New York Law Journal

    Real Estate Disputes Involving Delaware LLCs: Does Forum Affect the Outcome?

    June 21, 2019

    The choice of forum is a weighty decision that should be very carefully considered. In some cases, it may make a real difference.

  • The Legal Intelligencer

    Piercing the Corporate Veil Under Pennsylvania Law

    June 20, 2019

    In its simplest form, the piercing of the corporate veil is an equitable remedy available to the creditors of corporate entities to request the court to hold their owners liable for the corporate debts.

  • Delaware Business Court Insider

    Del. Chancery Finding Could Lead to Reinstatement of $17M Judgment in Contract Dispute Over Metal Card Sale

    June 05, 2019

    The ruling, outlined in a 12-page report from Vice Chancellor J. Travis Laster, could put CompoSecure back on the hook for a nearly $17 million judgment that the state Supreme Court "reluctantly" vacated in the long-running contract dispute.

  • Delaware Business Court Insider

    TrueCar Investors Resist Pause in Delaware Lawsuit While MDL Panel Mulls Consolidating Actions

    May 23, 2019

    Investors in TrueCar Inc. are resisting a bid by the Santa Monica-based car-pricing company's directors to temporarily halt a Delaware derivative lawsuit over allegedly inflated stock prices while a federal panel mulls whether to consolidate shareholder claims into multidistrict litigation.

  • The Legal Intelligencer

    Do Directors of a Board Have Access to the Company's Privileged Materials?

    May 16, 2019

    What happens when a dispute is between or among directors of the same company? Can the company use the attorney-client privilege to shield corporate materials, including any attorney-client privileged materials against a director?

  • Otto Candies LLC v. KPMG, LLP

    Publication Date: 2019-05-08
    Practice Area: Business Torts | Civil Procedure
    Industry: Consulting | Transportation
    Court: Court of Chancery
    Judge: Vice Chancellor Zurn
    Attorneys: For plaintiff: David E. Ross, Ross, Aronstam & Moritz LLP, Wilmington, DE; Terry L. Wit, A. William Urquhart, Juan P. Morillo, Derek L. Shaffer, and Lauren H. Dickie, Quinn Emanual Urquhart & Sullivan, LLP, San Francisco, CA and Washington, DC for plaintiffs.
    for defendant: Kevin R. Shannon, Matthew F. Davis, and Christopher N. Kelly, Potter Anderson & Corroon LLP, Wilmington, DE; Gregory G. Ballard and Jose F. Sanchez, Sidley Austin LLP, New York, NY; Todd Schlitz, Drinker Biddle & Reath LLP, Wilmington, DE; Robert A. Scher and Jonathan H. Friedman, Foley & Lardner LLP, New York, NY; Timothy Jay Houseal, Jennifer M. Kinkus, and William E. Gamgord, Young Conaway Stargatt & Taylor LLP, Wilmington, DE; Ana C. Reyes, Williams & Connolly, LLP, Washington, DC for defendants.

    Case Number: D68551

    Actions transferred from superior court to chancery court subject to a fully-briefed and argued motion to dismiss were subject to the chancery court's rule requiring plaintiffs subject to such a motion to either seek leave to amend or stand on their complaint and risk dismissal with prejudice; however, as a matter of first impression the court declined to enforce the rule on plaintiffs.

  • Delaware Business Court Insider

    Chancery Court Grants 'Mulligan' to Plaintiffs in Lawsuit Accusing KPMG of Negligent Misrepresentation

    April 26, 2019

    Vice Chancellor Morgan T. Zurn on Thursday allowed Otto Candies and other plaintiffs to file a new complaint despite their failure to comply with a court rule governing amended complaints in the case, which accuses KPMG of failing to detect a massive financial fraud by Citigroup Inc. and a KPMG client in Latin America.

  • New York Law Journal

    'Daimler' Strikes Again

    February 19, 2019

    In their Burden of Proof column, David Paul Horowitz and Lukas M. Horowitz discuss the recent decision in 'Aybar', in which the Second Department confronted the question of whether a foreign corporation's registration to do business in New York under BCL §§1301(a) and 1304(a)(6) constitutes consent to general jurisdiction in New York. The decision effectively shuts the door, for now, to a New York court's exercise of general jurisdiction over a corporate defendant which is neither incorporated, nor maintains it principal place of business, in New York.

  • Delaware Business Court Insider

    Chancery Court Blocks Direct Appeal of Directors' Liability for Insider Trading in Fitbit IPO

    January 14, 2019

    In a 12-page order, Vice Chancellor Joseph R. Slights III stood by his Dec. 14 opinion, which found that two of Fitbit's outside directors could potentially face liability for suspicious stock sales made by venture capital funds under their control.