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In re Match Group, Inc. Derivative Litig.
Publication Date: 2024-04-15
Practice Area: Mergers and Acquisitions
Industry: E-Commerce | Investments and Investment Advisory | Technology Media and Telecom
Court: Delaware Supreme Court
Judge: Justice Seitz
Attorneys:
For plaintiff: Michael Hanrahan, J. Clayton Athey, Corinne Elise Amato, Kevin H. Davenport, Stacey A. Greenspan, Jason W. Rigby, Prickett, Jones & Elliott, P.A., Wilmington, DE; Lee D. Rudy, Eric L. Zagar, J. Daniel Albert, Maria T. Starling, Kessler Topaz Meltzer & Check, LLP, Radnor, PA; Robert D. Klausner, Klausner, Kaufman, Jensen & Levinson, Plantation, FL for appellants.
For defendant: William M. Lafferty, John P. DiTomo, Elizabeth A. Mullin, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Theodore N. Mirvis, Jonathan M. Moses, Ryan A. McLeod, Alexandra P. Sadinsky, Canem Ozyildirim, Wachtell, Lipton, Rosen & Katz, New York, NY; Blake Rohrbacher, Matthew W. Murphy, Sandy Xu, Richards, Layton & Finger, P.A., Wilmington, DE; Maeve O’Connor, Susan R. Gittes, Amy C. Zimmerman, Debevoise & Plimpton LLP, New York, NY; David E. Ross, Adam D. Gold, Ross Aronstam & Moritz LLP, Wilmington, DE; Joshua G. Hamilton, Meryn C.N. Grant, Latham & Watkins LLP, Los Angeles, CA; Blair Connelly, Latham & Watkins LLP, New York, NY; Michele D. Johnson, Latham & Watkins LLP, Costa Mesa, CA for appellees.
Case number: 368, 2022

Chancery court erroneously applied business judgment rule to review transaction where controlling stockholder stood on both sides and received a non-ratable benefit where not all members of the company's separation committee were independent from the controller.

Travelers Cas. & Surety Co. of Am. v. Blackbaud, Inc.
Publication Date: 2024-04-08
Practice Area: Insurance Law
Industry: E-Commerce | Insurance | Non-Profit
Court: Delaware Superior Court
Judge: Judge Miller
Attorneys:
For plaintiff: Wade A. Adams, Law Offices of Wade A. Adams, III, Newark, DE; Kenneth T. Levine, de Luca Levine LLC, East Norriton, PA; Lisa C. McLaughlin, Todd L. Goodman, Phillips, McLaughlin & Hall, P.A., Wilmington, DE for plaintiffs.
For defendant: John P. DiTomo, Emily C. Friedman, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Sarah Fulton Hutchins, Parker Poe Adams & Bernstein LLP, Charlotte, NC; Corri A. Hopkins, Parker Poe Adams & Bernstein LLP, Raleigh, NC for defendant.
Case number: N22C-12-130 KMM

Insurers' subrogation action failed where they failed to identify specific contractual provisions or common law duties of care that were breached by hosting company that suffered a data breach.

April 01, 2024 | Delaware Law Weekly

Morris Nichols Partner to Speak at ABA Business Law Section Spring Meeting 2024

From Thursday through Saturday, the American Bar Association is scheduled to host its hybrid business law section Spring Meeting in Orlando, Florida, and Morris Nichols Arsht & Tunnell partner Sara Gelsinger is set to present.
2 minute read
April 01, 2024 | Delaware Law Weekly

Morris James Launches Transaction Group With Skadden Arps M&A Trio

The team at the Wilmington firm will be led by new partner Vincent Cannizzaro, a former Skadden senior associate.
4 minute read
March 20, 2024 | Delaware Business Court Insider

Superior Court: More Overlap in Case Facts Needed for Insurer to Deny D&O Coverage

Delaware Superior Court Judge Paul R. Wallace granted a California-based biotech company's motion for partial summary judgment.
3 minute read
March 19, 2024 | Delaware Law Weekly

Morris Nichols Partner Co-Presented at Inns of Court Event

On March 13, the Randy J. Holland Joint Inns Committee hosted the annual Joint Inns of Court Meeting in Wilmington with programming focused on wellness in the legal community; Morris, Nichols, Arsht & Tunnell partner R. Judson Scaggs, Jr. served as a speaker.
2 minute read
March 13, 2024 | The Legal Intelligencer

The Legal Intelligencer Announces 2024 Pennsylvania Legal Awards Finalists, Honorees

All honorees will be recognized, and winners in finalist categories announced, at the Pennsylvania Legal Awards event in May.
5 minute read
March 11, 2024 | Delaware Law Weekly

3 Morris Nichols Partners to Co-Present Panels in Las Vegas

From Sunday to Wednesday, the Unclaimed Property Professionals Organization (UPPO) holds its annual conference in Las Vegas, and three Morris Nichols Arsht & Tunnell partners will co-present panels spanning two days.
2 minute read
Murdick Capital Mgmt. L.P. v. QuarterNorth Energy Inc.
Publication Date: 2024-03-11
Practice Area: Mergers and Acquisitions
Industry: Energy | Investments and Investment Advisory
Court: Court of Chancery
Judge: Vice Chancellor Will
Attorneys:
For plaintiff: Bradley R. Aronstam, Roger S. Stronach, Benjamin M. Whitney, Ross Aronstam & Moritz LLP, Wilmington, DE; Jordan A. Goldstein, Lauren J. Zimmerman, Babak Ghafarzade, Selendy Gay PLLC, New York, NY for plaintiffs.
For defendant: Blake Rohrbacher, Matthew W. Murphy, John M. O’Toole, Edmond S. Kim, Spencer V. Crawford, Margaret Rockey, Richards, Layton & Finger, P.A., Wilmington, DE; Harry P. Susman, Susman Godfrey L.L.P., Houston, TX; Thomas W. Briggs, Jr., Kirk Andersen, Morris Nichols Arsht & Tunnell LLP, Wilmington, DE; Andrew K. Glenn, Glenn Agre Bergman & Fuentes LLP, New York, NY for defendants.
Case number: 2024-0106-LWW

Court declined to preliminarily enjoin invocation of drag-along rights where the invocation was not inconsistent with the terms of the proposed merger agreement or the minority securityholders' agreements and the minority could obtain monetary relief if the court ultimately found an improper invocation.

Bailey v. Tektronix, Inc.
Publication Date: 2024-03-11
Practice Area: Mergers and Acquisitions
Industry: E-Commerce | Manufacturing | Technology Media and Telecom
Court: U.S. District Court of Delaware
Judge: District Judge Williams
Attorneys:
For plaintiff: Robert Karl Beste, III, Jason Z. Miller, Smith, Katzenstein, & Jenkins LLP, Wilmington, DE for plaintiff.
For defendant: Anthony David Raucci, Donna Lynn Culver, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE for defendant.
Case number: 21-1268-GBW

Retention holdback agreement breached where reasonable interpretation of definition of qualifying revenue meant that the acquiring company hit the revenue goals to trigger the payout.

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