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Clem v. Skinner
Publication Date: 2024-03-04
Practice Area: Corporate Governance
Industry: Pharmaceuticals | Retail | Software
Court: Court of Chancery
Judge: Vice Chancellor Will
Attorneys:
For plaintiff: Blake A. Bennett, Dean R. Roland, Cooch and Taylor, P.A., Wilmington, DE; Brian J. Robbins, Stephen J. Oddo, Eric M. Carrino, Robbins LLP, San Diego, CA; Leo Kandinov, Aaron T. Morris, Andrew W. Robertson, Morris Kandinov LLP, San Diego, CA for plaintiffs.
For defendant: A. Thompson Bayliss, Samuel D. Cordle, Caleb Volz, Abrams & Bayliss LLP, Wilmington, DE; Robert G. Jones, Jessica M. Bergin, Sara A. Bellin, Ropes & Gray LLP, Boston, MA; Martin J. Crisp, Ropes & Gray LLP, New York, NY for defendants.
Case number: 2021-0240-LWW

Caremark claims failed where board of directors promptly responded to whistleblower action regarding the company's billing practices by overseeing the response to the DOJ's civil investigation demands and fixing the billing software to eliminate the improper practices.

Alexion Pharm., Inc. v. Endurance Assurance Corp.
Publication Date: 2024-02-26
Practice Area: Insurance Law
Industry: Insurance | Pharmaceuticals
Court: Delaware Superior Court
Judge: Judge Wallace
Attorneys:
For plaintiff: Daniel M. Silver, Benjamin A. Smith, McCarter & English, LLP, Wilmington, DE; Robin L. Cohen, Cynthia M. Jordano, David J. Matulewicz-Crowley, Cohen Ziffer Frenchman & McKenna LLP, New York, NY for plaintiff.
For defendant: Marc S. Casarino, Kennedys CMK LLP, Wilmington, DE; Jeanette L. Dixon, Manning & Kass, Ellrod, Ramriez, Trester LLP, New York, NY; John C. Phillips, Jr., David A. Bilson, Phillips McLaughlin & Hall, Wilmington, DE; James Sandnes, Sarah F. Voytryas, Skarzynski Marick & Black, LLP, New York, NY; Bruce W. McCullough, Bodel Bové, LLC, Wilmington, DE; Ronald P. Schiller, Thomas N. Brown, Daniel J. Layden, Hangley Aronchick Segal Pudlin & Schiller, Philadelphia, PA; R. Grant Dick, Cooch and Taylor, P.A., Wilmington, DE; Courtney E. Scott, Tressler LLP, New York, NY for defendants.
Case number: N22C-10-340

Court found that coverage exclusion in defendants' insurance tower for insured's securities action was not triggered where prior SEC subpoena was, at best, tangentially related to the action as the subpoena and the action focused on two different types of alleged improper conduct.

Cantor Fitzgerald, L.P. v. Ainslie
Publication Date: 2024-02-12
Practice Area: Contracts
Industry: Financial Services and Banking
Court: Delaware Supreme Court
Judge: Justice Traynor
Attorneys:
For plaintiff: C. Barr Flinn, Paul J. Loughman, Alberto E. Chávez, Skyler A. C. Speed, Young, Conaway, Stargatt & Taylor, LLP, Wilmington, DE; David A. Paul, Virginia J. Cardenas, Sid Nadkarni, Cantor Fitzgerald, New York, NY; Benjamin R. Nagin, Eric G. Hoffman, Sidley Austin LLP, New York, NY; Tacy F. Flint, Frank J. Favia, Jr., Sidley Austin LLP, Chicago, IL for appellant.
For defendant: Blake A. Bennett, Cooch & Taylor P.A., Wilmington, DE; Kyle W. Roche, Kyle Roche P.A., New York, NY; Velvel Freedman, Alex Potter, Freedman Normand Friedland LLP, New York, NY for appellees.
Case number: 162, 2023

A "forfeiture-for-competition" provision in a partnership agreement did not qualify as a restraint on trade, and thus partners who had negotiated and benefitted from such a term would be held to the terms of their agreement due to the Delaware Revised Uniform Limited Partnership Act's express favor for the enforceability of contracts.

CFGI, LLC v. Common C Holdings LP
Publication Date: 2024-02-12
Practice Area: Contracts
Industry: Financial Services and Banking | Consulting | Consumer Products
Court: Delaware Superior Court
Judge: Judge Adams
Attorneys:
For plaintiff: John P. DiTomo, Alexandra M. Cumings, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE for plaintiff.
For defendant: R. Bruce McNew, R. Grant Dick IV, Andrew A. Ralli, Cooch and Taylor P.A., Wilmington, DE for defendants.
Case number: N23C-03-032 MAA CCLD

Amendment to contract purporting to "accelerate" past due payments lacked consideration where defendant was already making payments.

Goldstein v. Denner
Publication Date: 2024-02-05
Practice Area: Corporate Governance
Industry: Investments and Investment Advisory
Court: Court of Chancery
Judge: Vice Chancellor Laster
Attorneys:
For plaintiff: Kevin H. Davenport, John G. Day, Jason W. Rigby, Prickett, Jones & Elliot P.A., Wilmington, DE; R. Bruce McNew, Cooch & Taylor P.A., Wilmington, DE; Christopher H. Lyons, Robbins Geller Rudman & Dowd LLP, Wilmington; DE; Randall J. Baron, Rick T. Atwood, Robbins Geller Rudman & Dowd LLP, San Diego, CA; Brett Middleton, Johnson Fistel, LLP, New York, NY for plaintiff.
For defendant: Stephen E. Jenkins, Richard D. Heins, Ashby & Geddes, P.A., Wilmington, DE; Tariq Mundiya, Sameer Advani, Richard Li, M. Annie Houghton-Larsen, Willkie Farr & Gallagher LLP, New York, NY for defendants.
Case number: 2020-1061-JTL

Court imposed sanctions in the form of a factual presumption on a key issue, which defendants could only rebut with clear and convincing evidence, after defendants admittedly took no action to preserve electronically stored information in response to litigation hold notices.

January 29, 2024 | Delaware Business Court Insider

Supreme Court: Pro-Contract Delaware Shouldn't Override Forfeiture for Competition Provisions

Justice Gary F. Traynor's opinion, which emphasizes Delaware's strong deference to contract freedoms, remanded the case of former Cantor Fitzgerald partners to the Court of Chancery.
4 minute read
January 29, 2024 | Delaware Law Weekly

Pro-Contract Delaware Shouldn't Override Forfeiture for Competition Provisions, Del. Supreme Court Says

Justice Gary F. Traynor's opinion, which emphasizes Delaware's strong deference to contract freedoms, remanded the case of former Cantor Fitzgerald partners to the Court of Chancery.
3 minute read
Ramsey Asset Mgmt., LLC v. The Standard Ins. Co.
Publication Date: 2023-11-13
Practice Area: Civil Procedure
Industry: Insurance | Investments and Investment Advisory
Court: U.S. District Court of Delaware
Judge: District Judge Connolly
Attorneys:
For plaintiff: Roger D. Landon, Murphy & Landon, P.A., Wilmington, DE for plaintiff.
For defendant: James W. Semple, R. Grant Dick IV, Cooch and Taylor P.A., Wilmington, DE; Brooks R. Magratten, Michael J. Daly, Pierce Atwood LLP, Providence, RI for defendant.
Case number: 23-453-CFC

Court transferred case to Eastern District of Virginia where it involved a dispute over an insurance policy issued to a Virginia-headquartered company and the parties had no connection to Delaware other than the company's state of incorporation.

In re ProAssurance Corp. Stockholder Derivative Litig.
Publication Date: 2023-10-16
Practice Area: Corporate Governance
Industry: Insurance
Court: Court of Chancery
Judge: Vice Chancellor Will
Attorneys:
For plaintiff: Thomas A. Uebler, McCollom D’Emilio Smith Uebler LLC, Wilmington, DE; Blake A. Bennett, Cooch and Taylor, P.A., Wilmington, DE; Melinda A. Nicholson, Nicolas Kravitz, Kahn Swick & Foti, LLC, New Orleans, LA; Benjamin I. Sachs-Michaels, Glancy Prongay & Murray LLP, New York, NY; Robert V. Prongay, Pavithra Rajesh, Glancy Prongay & Murray LLP, Los Angeles, CA for plaintiffs.
For defendant: Raymond J. DiCamillo, Kevin M. Gallagher, Nicholas F. Mastria, Richards, Layton & Finger, P.A., Wilmington, DE; Jonathan Youngwood, Janet A. Gochman, Jacob Lundqvist, Simpson Thacher & Bartlett LLP, New York, NY for defendants.
Case number: 2022-0034-LWW

Court dismissed shareholders' derivative complaint for failure to plead demand futility where plaintiffs' fiduciary claims against the company's directors and officers failed to set forth a prima facie case of personal liability such that the board could not independently consider a litigation demand.

September 14, 2023 | Delaware Business Court Insider

Cigna's Alleged Use of AI In Denying Health Insurance Claims Fuels New Shareholder Lawsuit

This suit was surfaced by Law.com Radar. Read the complaint here.
1 minute read

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