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Publication Date: 2024-08-20
Practice Area: Corporate Entities
Industry: Real Estate
Court: Court of Chancery
Judge: Vice Chancellor Will
Attorneys: For plaintiff: Frank E. Noyes, II, Offit Kurman, P.A., Wilmington, DE for plaintiff.
for defendant: David L. Konick, Washington, VA for defendants.
Case Number: 2022-1036-LWW
Court's readjustment of LLC ownership percentages did not affect the deadlock analysis where the LLC agreement required a two-thirds interest vote or unanimous consent.
Publication Date: 2024-08-20
Practice Area: Corporate Governance
Industry: Consulting | Food and Beverage | Investments and Investment Advisory | Manufacturing
Court: Court of Chancery
Judge: Vice Chancellor Will
Attorneys: For plaintiff: Joel Friedlander, Jeffrey M. Gorris, Christopher M. Foulds, Friedlander & Gorris, P.A., Wilmington, DE; Lawrence P. Eagel, Melissa Fortunato, Marion C. Passmore, Brandon Walker, Bragar Eagel & Squire, P.C., New York, NY for plaintiff.
for defendant: Matthew D. Stachel, Paul, Weiss, Rifkind, Wharton & Garrison LLP, Wilmington, DE; Daniel J. Kramer, Andrew J. Ehrlich, Robert N. Kravitz, Paul, Weiss, Rifkind, Wharton & Garrison LLP, New York, NY; Michael A. Pittenger, Jacqueline A. Rogers, Caneel Radinson-Blasucci, Camilia R. Katkocin, Potter Anderson & Corroon LLP, Wilmington, DE; Sandra C. Goldstein, Stefan Atkinson, Kevin M. Neylan, Jr., Kirkland & Ellis LLP, New York, NY for defendants.
Case Number: 2023-1191-LWW
Court denied relief from dismissed action where "newly discovered evidence" was available to plaintiff long before it filed its initial derivative complaint.
Publication Date: 2024-08-20
Practice Area: Corporate Governance
Industry: Investments and Investment Advisory
Court: Court of Chancery
Judge: Vice Chancellor McCormick
Attorneys: For plaintiff: R. Bruce McNew, Cooch and Taylor, P.A., Wilmington, DE for plaintiff.
for defendant: Lisa M. Zwally, Bryan T. Reed, Greenberg Traurig, LLP, Wilmington, DE for defendants.
Case Number: 2020-0985-KSJM ("AMFI I")
Court denied reargument of decision finding waiver of claim where plaintiff failed to brief the claim aside from a single reference in its papers.
Publication Date: 2024-08-13
Practice Area: Contracts
Industry: Health Care
Court: Court of Chancery
Judge: Vice Chancellor Slights
Attorneys: For plaintiff: Ryan D. Stottmann, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE for plaintiffs.
for defendant: Henry E. Gallagher, Jr., Connolly Gallagher LLP, Wilmington, DE for defendants.
Case Number: 2023-1280-MTZ
Court declined to enforce arbitration provision against nonsignatory plaintiffs where their complaint did not seek to enforce the terms of the contract containing the arbitration clause.
Publication Date: 2024-08-13
Practice Area: Mergers and Acquisitions
Industry: Investments and Investment Advisory
Court: Court of Chancery
Judge: Vice Chancellor Laster
Attorneys: For plaintiff: A. Thompson Bayliss, Samuel D. Cordle, Anthony R. Sarna, Abrams & Bayliss LLP, Wilmington, DE for petitioner.
for defendant: David E. Ross, Garrett B. Moritz, Adam D. Gold, Elizabeth M. Taylor, Ross Aronstam & Moritz LLP, Wilmington, DE for respondent.
Case Number: 2022-0344-JTL
Court relied on deal price as corporation's fair market value during appraisal where the price operated as a floor on company value due to errors by the CEO that left value on the table.
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Publication Date: 2024-08-13
Practice Area: Insurance Law
Industry: Biotechnology | Insurance | Pharmaceuticals
Court: Court of Chancery
Judge: Vice Chancellor Cook
Attorneys: For plaintiff: Karen A. Jacobs, Megan W. Cascio, Courtney Kurz, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Laurie Carr Mims, Benjamin D. Rothstein, Candice Mai Khanh Nguyen, Melissa Cornell, Catherine C. Porto, Keker, Van Nest & Peters LLP, San Francisco, CA for plaintiffs.
for defendant: Michael A. Weidinger, Megan Ix Brison, Pinckney, Weidinger, Urban & Joyce LLC, Wilmington, DE; Elizabeth Sandza, Richard Sandza, Sandza Law, PLLC, Washington, DC for defendant.
Case Number: 2021-0694-NAC
Officer was obligated to reimburse corporation for advancement costs issued in connection with officer's criminal prosecution for actions taken in the course of his duties when that prosecution culminated in his conviction, precluding him from asserting good faith entitlement to indemnification under the Delaware General Corporation Law.
Publication Date: 2024-08-13
Practice Area: Mergers and Acquisitions
Industry: Defense | Software | Technology Media and Telecom
Court: Court of Chancery
Judge: Vice Chancellor Glasscock
Attorneys: For plaintiff: Alan D. Albert, Stephen D. Dargitz, O’Hagan Meyer PLLC, Wilmington, DE; Charles M. Sims, C. Quinn Adams, O’Hagan Meyer, PLLC, Richmond, VA for plaintiff.
for defendant: John G. Harris, Berger Harris LLP, Wilmington, DE for defendant.
Case Number: 2022-0959-SG
Court dismissed third-party claims as unable to provide relief if defendants were found liable to plaintiffs, and defendants' counterclaims for their failure to provide the contractually required pre-suit notice.
Publication Date: 2024-08-13
Practice Area: Mergers and Acquisitions
Industry: Health Care | Investments and Investment Advisory | Manufacturing | Software
Court: Court of Chancery
Judge: Chancellor Adams
Attorneys: For plaintiff: Ronald S. Gellert, Gellert Seitz Busenkell & Brown, LLC, Wilmington, DE; Derek J. Meyer, Prospect Law LLP, Los Angelos, CA for plaintiff.
for defendant: Jacqueline A. Rogers, Potter Anderson & Corroon LLP, Wilmington, DE; Victor L. Hou, Cleary Gottlieb Steen & Hamilton LLP, New York, NY; Nowell D. Bamberger, Cleary Gottlieb Steen & Hamilton LLP, Washington, DC for defendant.
Case Number: 2023-1055-MAA
Court declined to find a breach of merger agreement where seller agreed to impose no specific contractual duties upon the buyer to achieve the milestone for a contingent payment, as the buyer had discretion to exercise business judgment provided its primary purpose was not to defeat the milestone payment.
Publication Date: 2024-08-13
Practice Area: Mergers and Acquisitions
Industry: Investments and Investment Advisory | Pharmaceuticals
Court: Court of Chancery
Judge: Vice Chancellor Cook
Attorneys: For plaintiff: John G. Harris, Halloran Farkas + Kittila LLP, Wilmington, DE for plaintiff.
for defendant: Stephen C. Norman, Jaclyn C. Levy, Emma K. Diver, Potter Anderson & Corroon LLP, Wilmington, DE for defendant.
Case Number: 2022-1053-NAC
Court denied motion to vacate judgment dismissing action to enforce information rights on res judicata grounds where existence of underlying clinical trial data had been known to parties in prior action, where they could have sued to enforce their information rights.
Publication Date: 2024-08-06
Practice Area: Trusts and Estates
Industry: Financial Services and Banking
Court: Court of Chancery
Judge: Vice Chancellor Glasscock
Attorneys: For plaintiff:
for defendant:
Case Number: 2019-0302-SG
Successor beneficiary of trust successfully challenged purported decanting of trust corpus into a new trust where the trust did not give trustees the authority to invade trust corpus, a necessary power to decant trust assets under Delaware law.
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