Publication Date: 2023-05-09
Practice Area: Mergers and Acquisitions
Industry: Biotechnology | Investments and Investment Advisory
Court: Court of Chancery
Judge: Vice Chancellor Glasscock
Attorneys: For plaintiff: Stephen E. Jenkins, Samuel M. Gross, Ashby & Geddes, Wilmington, DE; Donald J. Enright, Elizabeth K. Tripodi, Jordan A. Cafritz, Levi & Korsinsky, LLP, Washington, DC for plaintiff.
for defendant: Raymond J. DiCamillo, Kevin M. Gallagher, Kyle H. Lachmund, Richards, Layton & Finger, P.A., Wilmington, DE; Adam H. Offenhartz, M. Jonathan Seibald, Gibson, Dunn & Crutcher LLP, New York, NY; Kevin M. Coen, Stephanie Rudolph, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Scott B. Czerwonka, Andrea S. Brooks, Wilks Law, LLC, Wilmington, DE; Kurt M. Heyman, Jamie L. Brown, Heyman Enerio Gattuso & Hirzel LLP, Wilmington, DE; John F. Baughman, Daniel A. Schwartz, JFB Legal, PLLC, Norfolk, VA for defendants.
Case Number: 2022-0130-SG
Former stockholder plausibly alleged fiduciary claims against controller as it received non-ratable benefit from sale of the company and attempted to induce minority stockholders to waive any fiduciary claims to receive their merger consideration.