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Allen v. Harvey
Publication Date: 2023-11-13
Practice Area: Mergers and Acquisitions
Industry: Energy | Investments and Investment Advisory
Court: Delaware Supreme Court
Judge: Vice Chancellor Zurn
Attorneys:
For plaintiff: Peter B. Andrews, Craig J. Springer, David M. Sborz, Andrew J. Peach, Jackson E. Warren, Andrews & Springer LLC, Wilmington, DE; Joshua Fruchter, Wohl & Fruchter LLP, Monsey, NY for plaintiffs.
For defendant: Tammy L. Mercer, James M. Yoch, Jr., Michael A. Laukaitis II, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; Craig Zieminski, Andy Jackson, Jeremy Gonzales, Vinson & Elkins, LLP, Dallas, TX for defendants.
Case number: 2022-0248-MTZ

Court declined to award a substantial success fee to stockholders who obtained supplemental disclosures to merger proxy where the disclosures did not remove an impediment to the stockholders' vote, but the disclosures provided a meaningful corporate benefit by informing stockholders about the transaction committee's affiliations with a controlling stockholder sitting on both sides of the merger transaction.

Menzies v. Seyfath Shaw LLP
Publication Date: 2023-11-06
Practice Area: Tax
Industry: Financial Services and Banking | Insurance
Court: U.S. District Court of Delaware
Judge: District Judge Bibas
Attorneys:
For plaintiff: Daniel Charles Herr, Law Office of Daniel C. Herr LLC, Wilmington, DE for plaintiff.
For defendant: Jennifer Marie Kinkus, William Edward Gamgort, Young, Conaway, Stargatt & Taylor LLP, Wilmington, DE for defendants.
Case number: 1:21-cv-00249-SB

Breach of fiduciary duty claim was untimely under statute of limitations where plaintiff was on inquiry notice of his claim no later than his receipt of an IRS audit notice investigating transactions involving defendant.

October 25, 2023 | The American Lawyer

Kirkland & Ellis, Jackson Walker Continue Debtor-Side Dominance in Strong Q3 for Big Bankruptcy

Big Law bankruptcy practices are closing in on their best year since 2020.
3 minute read
Energy Transfer, LP v. The Williams Cos., Inc.
Publication Date: 2023-10-23
Practice Area: Mergers and Acquisitions
Industry: Energy
Court: Delaware Supreme Court
Judge: Justice Griffiths
Attorneys:
For plaintiff: James M. Yoch, Alberto E. Chávez, Young Conaway Stargatt & Taylor, Wilmington, DE; Paul D. Clement, Matthew D. Rowen, Clement & Murphy, PLLC, Alexandria, VA for appellants.
For defendant: Kenneth J. Nachbar, Susan Wood Waesco, Matthew R. Clark, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Antony L. Ryan, Kevin J. Orsini, Michael P. Addis, Cravath, Swaine & Moore LLP, New York, NY for appellee.
Case number: 391, 2022

Chancery court's determination that counterparty did not breach merger agreement was supported by record evidence demonstrating that company continued to use best efforts to consummate the merger, entitling it to reimbursement of a prior termination fee and precluding liability for a breakup fee.

Gemedy Inc. v. The Carlyle Group Inc.
Publication Date: 2023-10-16
Practice Area: Intellectual Property
Industry: E-Commerce | Investments and Investment Advisory | Software
Court: U.S. District Court of Delaware
Judge: District Judge Connolly
Attorneys:
For plaintiff: Comrie Barr Flinn, Alberto E. Chavez, Young, Conaway, Stargatt & Taylor LLP, Wilmington, DE; Mark L. D. Wawro, Max L. Tribble, Susman Godfrey, LLP, Houston, TX; Tamar Lusztig, Susman Godfrey, LLP, New York, NY for plaintiff.
For defendant: Jack B. Blumenfeld, Alexandra M. Cumings, Ryan D. Stottmann, William M. Lafferty, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Michael B. Carlinsky, Quinn Emanuel Urquhart & Sullivan, LLP, New York, NY; Kevin P.B. Johnson, Quinn Emanuel Urquhart & Sullivan, LLP, Redwood Shores, CA; Patrick D. Curran, Quinn Emanuel Urquhart & Sullivan, LLP, Boston, MA for defendants.
Case number: 23-157-CFC

Defendants could remove case under federal officer removal statute by alleging that it had acquired the right to use plaintiff's intellectual property via federal government contracts after the government allegedly obtained "unlimited right" to the intellectual property.

October 10, 2023 | Delaware Business Court Insider

Delaware High Court Affirms $601M Judgment in Broken Deal Over Pipeline

Justice Christopher Griffiths called the case a "perfect example" of the near inevitability of failed merger costs.
4 minute read
October 10, 2023 | Delaware Law Weekly

$601M Judgment in Broken Deal Over Pipeline Affirmed by Del. High Court

Justice Christopher Griffiths called the case a "perfect example" of the near inevitability of failed merger costs.
4 minute read
October 05, 2023 | The American Lawyer

Commercial Bankruptcy Set to Rival 2020 If Current Trends Hold

Not since the global financial crisis have large corporate bankruptcies been as common as they are this year, according to a new report by New Generation Research.
3 minute read
Rem OA Holdings, LLC v. Northern Gold Holdings, LLC
Publication Date: 2023-10-02
Practice Area: Corporate Entities
Industry:
Court: Court of Chancery
Judge: Vice Chancellor Will
Attorneys:
For plaintiff: Thomas W. Briggs, Jr., Alexandra Cumings, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Michael C. Holmes, Jeffrey Crough, Thomas Mitsch, Vinson & Elkins LLP, Dallas, TX; Matthew R. Freidenberg, Vinson & Elkins LLP, New York, NY; Scott B. Czerwonka, D. Charles Vavala, III, Wilks Law, LLC, Wilmington, DE for plaintiffs.
For defendant: Martin S. Lessner, Elisabeth S. Bradley, M. Paige Valeski, Young Conaway Stargatt & Taylor LLP, Wilmington, DE for defendant. John D. Hendershot, Matthew W. Murphy, Angela Lam, Richards, Layton & Finger, P.A., Wilmington, DE for nominal defendant.
Case number: 2022-0582-LWW

Noting that a contracting party is obligated to read any contract it signs including any documents incorporated by reference, the court denied defendant relief because it could have discovered the challenged loan terms by exercising ordinary care.

September 27, 2023 | Delaware Law Weekly

Chancery Leadership Begins Updating Rules to Address 'Huge Inconvenience' of Formatting Filings

The state judiciary announced the first round of a comprehensive update to the court's rules, an undertaking led by a subcommittee of the Court of Chancery Rules subcommittee.
4 minute read

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