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October 18, 2023 | Delaware Business Court Insider

Lessons From the 'Mindbody' and 'Columbia Pipeline' Decisions 

In two recent post-trial decisions, the Delaware Court of Chancery found that officers of a target company had breached their fiduciary duties in connection with a sale process by acting for personal gain, rather than to maximize stockholder value, that the target boards did not sufficiently manage the officers' conflicts of interest that infected the sale process, and that the acquirors were liable for aiding and abetting certain of the sell-side fiduciary breaches.
17 minute read
ITG Brands, LLC v. Reynolds Am., Inc.
Publication Date: 2023-10-16
Practice Area: Mergers and Acquisitions
Industry: Consumer Products | Manufacturing
Court: Court of Chancery
Judge: Vice Chancellor Slights
Attorneys:
For plaintiff: Stephen C. Norman, Matthew F. Davis, Tyler J. Leavengood, Potter Anderson & Corroon LLP, Wilmington, DE; Elizabeth B. McCallum, Gilbert S. Keteltas, Carey S. Busen, Evan M. Mannering, Baker & Hostetler, LLP, Washington, D.C.; Jim W. Phillips, Jr., Kimberly M. Marston, Brooks, Pierce, McLendon, Humphrey & Leonard, LLP, Greensboro, NC; Charles E. Coble, Brooks, Pierce, McLendon, Humphrey & Leonard, LLP, Raleigh, NC for plaintiff.
For defendant: Gregory P. Williams, Rudolf Koch, Robert L. Burns, Matthew D. Perri, Richards, Layton & Finger, P.A., Wilmington, DE; Noel J. Francisco, C. Kevin Marshall, William D. Coglianese; Jones Day, Washington, D.C.; Stephanie E. Parker, Katrina L.S. Caseldine, Jones Day, Atlanta, GA; David B. Alden, Kevin P. Riddles; Jones Day, Cleveland, OH; Elli Leibenstein, Greenberg Traurig, LLP, Chicago, IL; Stephen L. Saxl, Greenberg Traurig, LLP, New York, NY; Andrea Shwayri Ferraro, Greenberg Traurig, P.A., West Palm Beach, FL for defendants.
Case number: 2017-0129-LWW

Although seller was entitled to recover compensation for settlement payments it made based on post-closing sales of various acquired brands, trial was necessary to determine acquirers' entitlement to offsets and the availability of specific performance for future settlement payments.

October 12, 2023 | The American Lawyer

Law Firm GCs: From Part-Time Advisers to Full-Time 'Risk Avoidance Monitors'

"What I've seen is law firm GCs are starting to be viewed less like law firm lawyers and more like members of the corporate team, like the CFO or the COO," said William Connolly, the new general counsel and chief legal officer at Nixon Peabody.
4 minute read
Thomson Reuters Enter. Centre GmbH v. Ross Intelligence Inc.
Publication Date: 2023-10-09
Practice Area: Intellectual Property
Industry: E-Commerce | Legal Services | Technology Media and Telecom
Court: U.S. District Court of Delaware
Judge: District Judge Bibas
Attorneys:
For plaintiff: Jack B. Blumenfeld, Michael J. Flynn, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Dale M. Cendali, Eric A. Loverro, Joshua L. Simmons, Kirkland & Ellis LLP, New York, NY for plaintiffs.
For defendant: David E. Moore, Bindu A. Palapura, Andrew L. Brown Potter Anderson & Corroon LLP, Wilmington, DE; Gabriel M. Ramsey, Warrington Parker, Joachim B. Steinberg, Jacob Canter, Christopher J. Banks, Shira Liu, Margaux Poueymirou, Anna Z. Saber, Crowell & Moring LLP, San Francisco, CA; Mark A. Klapow, Crinesha B. Berry, Crowell & Moring LLP, Washington, D.C. for defendant.
Case number: 20-cv-613-SB

Court excluded economic expert's testimony as unsupported by data and methodology where expert claimed there was little likelihood of a market for plaintiffs' product, since there were insufficient facts about the attributes of the product or whether there were current substitutes for the product already on market.

Genworth Fin., Inc. v. AIG Specialty Ins. Co.
Publication Date: 2023-10-02
Practice Area: Insurance Law
Industry: Financial Services and Banking
Court: Delaware Superior Court
Judge: Judge Davis
Attorneys:
For plaintiff: Jennifer C. Wasson, Carla M. Jones, Potter Anderson & Corroon LLP, Wilmington, DE; Kenneth H. Frnechman, Michelle R. Migdon, Orrie A. Levy, Samantha Smith, Cohen Ziffer Frenchman & McKenna LLP, New York, NY for plaintiffs.
For defendant: Kurt M. Heyman, Aaron M. Nelson, Kelly E. Rowe, Heyman Enerio Gattuso & Hirzel LLP, Wilmington, DE: Scott B. Schreiber, Arthur Luk, William C. Perdue, Samuel I. Ferenc, Matthew Bemis, Arnold & Porter Kay Scholer LLP, Washington, D.C.; John C. Phillips, David A. Biilson, Phillips McLaughlin & Hall, P.A., Wilmington, DE; Douglas M. Mangel, Michelle Beecy, Clyde & Co LLP, Washington, D.C.; Geoffrey W. Heineman, Jung H. Park, Ropers Majeski, PC, New York, NY; Robert J. Katzenstein, Julie M. O’Dell, Smith Katzenstein & Jenkins LLP, Wilmington, DE; Matthew Beato, Jason Chronic, Jessica N. Gallinaro, Wiley Rein LLP, Washington, D.C.; Karen H. Ventrell, CNA Corporate Litigation, Washington, D.C.; Scott A. Schechter, Matthew Mawby, Kaufman Borgeest & Ryan LLP, Valhalla, NY; John G. Day, Bruce E. Jameson, Prickett, Jones & Elliott, P.A., Wilmington, DE; Alexis J. Rogoski, Edward C. Carleton, Skarzynski Marick & Black LLC, New York, NY; John L. Reed, DLA Piper (US), Wilmington, DE; Steven J. Brodie, Carlton Fields, P.A., Miami, FL; Charles W. Stotter, Carlton Fields, P.A., New York, NY for defendants.
Case number: N22C-05-057 EMD CCLD

Claim reserves and underwriting exclusions to professional liability insurance policy did not apply to underlying lawsuits by long-term care insurance policyholders alleging misrepresentations in the marketing and sale arising from the failure to disclose planned or expected premium increases.

Law Journal Press | Digital Book Wrongful Use of Civil Proceedings and Related Torts in Pennsylvania, Second Edition Authors: George Bochetto, David P. Heim, John A. O’Connell, Robert S. Tintner View this Book

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September 29, 2023 | Pro Mid Market

Who Got the Work: Potter Anderson Partners Step in to Defend U.S. Bank in Shareholder Derivative Suit

Potter Anderson & Corroon partners have stepped in to represent U.S. Bank and its current and former executives and directors in a pending shareholder derivative lawsuit.
3 minute read
September 29, 2023 | Law.com

Why Clients and Law Firms Are Stocking up on Regulatory Tech and Talent: The Morning Minute

The news and analysis you need to start your day.
4 minute read
September 25, 2023 | Delaware Law Weekly

DSBA to Hold Corporate Law Anniversary CLE

The Delaware State Bar Association is scheduled to hold a live event titled, "Omnicare v. NCS, A 20th Anniversary CLE" from 2 to 4 p.m. Tuesday.
2 minute read
September 22, 2023 | Delaware Business Court Insider

New Delaware Supreme Court Justice Sworn In

Judge Abigail M. LeGrow was formally sworn in for her first term as justice of the Delaware Supreme Court on Sept. 19 in Courtroom 7E at the Leonard L. Williams Justice Center in Wilmington.
2 minute read
September 22, 2023 | Delaware Law Weekly

Judge Abigail M. LeGrow Sworn In as Delaware Supreme Court Justice

Judge Abigail M. LeGrow was formally sworn in for her first term as justice of the Delaware Supreme Court on Sept. 19 in Courtroom 7E at the Leonard L. Williams Justice Center in Wilmington.
2 minute read

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