• MKE Holdings Ltd. v. Schwartz

    Publication Date: 2020-02-12
    Practice Area: Corporate Governance
    Industry: Agriculture | Manufacturing
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Thomas E. Hanson, Jr., Barnes & Thornburg LLP, Wilmington, DE for plaintiffs.
    for defendant: Blake Rohrbacher, Richards, Layton & Finger, P.A., Wilmington, DE; John F. Hartmann and Abdus Samad Pardesi, Kirkland & Ellis LLP, Chicago, IL for defendants and nominal defendant.

    Case Number: D68875

    Limited liability company members alleged sufficient facts to support their claims against defendant managers for breaches of the operating agreement and fraud.

  • In re Essendant, Inc. Stockholder Litig.

    Publication Date: 2020-01-15
    Practice Area: Mergers and Acquisitions
    Industry: Distribution and Wholesale
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Blake A. Bennett, Cooch and Taylor, P.A., Wilmington, DE; Juan E. Monteverde and Miles D. Schreiner, Monteverde & Associates PC, New York, NY; Donald J. Enright and Elizabeth K. Tripodi, Levi & Korsinsky, LLP, Washington, DC for plaintiffs.
    for defendant: Robert S. Saunders, Arthur R. Bookout, and Lilianna Anh P. Townsend, Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington, DE; Gregory P. Williams, Lisa A. Schmidt, Matthew D. Perri, and Angela Lam, Richards, Layton & Finger, P.A., Wilmington, DE; and Matthew Solum, P.C., and Ian Spain, of Kirkland & Ellis LLP, New York, NY for defendants.

    Case Number: D68839

    Stockholders' breach of fiduciary duty claims arising from board's rejection of existing merger agreement in favor of all-cash acquisition offer dismissed where stockholders failed to make prima facie case of board's breach of the duty of loyalty and where acquirer's stake in the company was insufficient to make it a controlling stockholder for the purposes of an aiding and abetting claim.

  • MKE Holdings Ltd. v. Schwartz

    Publication Date: 2019-10-09
    Practice Area: Corporate Governance
    Industry: Agriculture | Chemicals and Materials
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Thomas E. Hanson, Jr., Barnes & Thornburg LLP, Wilmington, DE for plaintiffs.
    for defendant: Blake Rohrbacher, Richards, Layton & Finger, P.A., Wilmington, DE; John F. Hartmann and Abdus Samad Pardesi, Kirkland & Ellis LLP, Chicago, IL for defendants and nominal defendant.

    Case Number: D68730

    A limited liability company's operating agreement waived any fiduciary duty on the part of its members, and instead imposed a good faith standard.

  • Genuine Parts Co. v. Essendant Inc.

    Publication Date: 2019-09-25
    Practice Area: Mergers and Acquisitions
    Industry: Distribution and Wholesale
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Kenneth J. Nachbar, William M. Lafferty, and Thomas P. Will, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Richard T. Marooney, Israel Dahan, and Peter Isajiw, King & Spalding LLP, New York, NY; Jeremy M. Bylund, King & Spalding LLP, Washington, DC for plaintiff.
    for defendant: Gregory P. Williams, Lisa A. Schmidt, Matthew D. Perri, and Angela Lam, Richards, Layton & Finger, P.A., Wilmington, DE; Matthew Solum and Ian Spain, Kirkland & Ellis LLP, New York, NY for defendant.

    Case Number: D68712

    Counterparty in merger agreement was entitled to pursue a breach of contract claim despite accepting contractual termination fee where counterparty alleged that terminating party had breached the non-solicitation provisions by inviting a superior offer from a competing bidder.

  • Athene Life and Annuity Co. v. Am. Gen. Life Ins. Co.

    Publication Date: 2019-08-14
    Practice Area: Insurance Law
    Industry:
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Martin S. Lessner, Richard J. Thomas, and M. Paige Valeski, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; James P. Gillespie, Kirkland & Ellis LLP, Washington, DC; Adam T. Humann, Kirkland & Ellis, New York, NY; Brian C. Ralston, Potter Anderson & Corroon LLP, Wilmington, DE for plaintiffs.
    for defendant: Kenneth J. Nachbar and Sabrina M. Hendershot, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Joel Friedlander and Christopher P. Quinn, Friedlander & Gorris, P.A, Wilmington, De; John L. Jacobus, J. Walker Johnson, Catherine D. Cockerham, and Michael E. Stoll, Steptoe & Johnson LLP, Washington, DC, for defendants.

    Case Number: D68662

    Court lacked subject matter jurisdiction where plaintiffs would obtain complete relief if they received money damages from defendants' alleged breach of the parties' agreement.

  • Hill v. LW Buyer, LLC

    Publication Date: 2019-08-14
    Practice Area: Contractual Disputes
    Industry: Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Zurn
    Attorneys: For plaintiff: C. Barr Flinn, Emily V. Burton and Elisabeth S. Bradley,Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; Nicholas M. Oertel, Richard C. Kraus and James B. Jensen, Jr., Foster Swift Collins & Smith PC, Lansing, MI for plaintiffs.
    for defendant: William J. Lafferty, Kevin M. Coen and Jarrett W. Horowitz, Morris, Nichols, Arsht & Tunnell, LLP, Wilmington, DE; Craig S. Primis and K. Winn Allen, Kirkland & Ellis LLP, Washington, DC for defendant.

    Case Number: D68665

    The court granted summary judgment on buyer's claims for indemnification of tax payments because those claims were not ripe for adjudication.

  • Windy City Inv. Holdings, LLC v. Teachers Ins. & Annuity Ass'n of Am.

    Publication Date: 2019-08-07
    Practice Area: Contractual Disputes
    Industry: Financial Services and Banking
    Court: Court of Chancery
    Judge: Vice Chancellor Zurn
    Attorneys: For plaintiff: David E. Ross and Eric D. Selden, Ross, Aronstam & Moritz LLP, Wilmington, DE; K. Winn Allen, Kasdin M. Mitchell, Holly R. Trogdon and Rebecca W. Forrestal, Kirkland & Ellis LLP, Washington, DC for plaintiff.
    for defendant: Michael A. Pittenger, Jennifer C. Wasson and Tyler J. Leavengood, Potter Anderson & Corroon LLP, Wilmington, DE; Mary Eaton, Zeh Ekono and Le-Ahn Bui, Wilkie Farr & Gallagher LLP, New York, NY for defendant.

    Case Number: D68661

    Plaintiff adequately stated its claims for declaratory relief as to an earn-out provision in the parties' contract, and plaintiff was entitled to specific performance of a clause allowing access to books and records.

  • 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.

  • 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.

  • iBio, Inc. v. Fraunhofer-Gesellschaft Zur Forderung Der Angewandten Forschung E.V.

    Publication Date: 2019-01-02
    Practice Area: Business Torts | Intellectual Property
    Industry: Pharmaceuticals
    Court: Court of Chancery
    Judge: Vice Chancellor Montgomery-Reeves
    Attorneys: For plaintiff: David E. Ross and Eric D. Selden, Ross Aronstam & Moritz LLP, Wilmington, DE; Reed S. Oslan, Mark Premo-Hopkins, Britt Cramer, and Allison McDonald, Kirkland & Ellis LLP, Chicago, IL; Inbal Hasbani and Kyla Jackson, Kirkland & Ellis LLP, New York, NY for plaintiff.
    for defendant: M. Duncan Grant, Christopher B. Chuff, James H.S. Levine, and Ellis E. Herington, Pepper Hamilton LLP, Wilmington, DE for defendant.

    Case Number: D68406

    Complaint dismissed pursuant to doctrine of laches where plaintiff had inquiry notice defendant may have had a role in its subsidiary's breach of agreements with plaintiff, thereby precluding tolling of limitations period.