• Strategic Inv. Opportunities LLC v. Lee Enter., Inc.

    Publication Date: 2022-03-01
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: John D. Hendershot, Matthew W. Murphy, John T. Miraglia, Richards, Layton & Finger, P.A., Wilmington, DE; Adrienne Marie Ward, Lori Marks-Esterman, Peter M. Sartorius, Theodore J. Hawkins, Olshan Frome Wolosky LLP, New York, NY for plaintiff.
    for defendant: Michael A. Pittenger, Christopher N. Kelley, Daniel M. Rusk, IV, Justin T. Hymes, Potter Anderson & Corroon LLP, Wilmington, DE; Stefan Atkinson, Byron Pacheco, Brittney Nagle, Kirkland & Ellis LLP, New York, NY for defendants.

    Case Number: D69729

    The court held that the defendant company, through its board members, did not breach bylaw requirements when it rejected the proposed nomination to the board because the nomination notice was deficient, and the actions of the board were rea-sonable and equitable.

  • In Re Camping World Holdings, Inc.

    Publication Date: 2022-02-15
    Practice Area: Corporate Governance
    Industry: Automotive | Consumer Products | Retail
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Martin S. Lessner, Emily V. Burton, Kevin P. Rickert, Young Conaway Stargatt & Taylor LLP, Wilmington, DE; Brian J. Robbins, Stephen J. Oddo, Gregory E. Del Gaizo, Robbins LLP, San Diego, CA for plaintiffs.
    for defendant: Gregory P. Williams, Matthew D. Perri, Richards, Layton & Finger, P.A., Wilmington, DE; Andrew B. Clubok, Latham & Watkins LLP, Washington, DC; Eric R. Swibel, Latham & Watkins LLP, Chicago, IL for defendants.

    Case Number: D69711

    The court held that the complaint failed to plead particularized facts demonstrating that demand was futile as to a majority of the demand board members.

  • Brown v. Matterport, Inc.

    Publication Date: 2022-01-25
    Practice Area: Contracts
    Industry: Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Thomas A. Uebler, Joseph Christensen, McCollom D’Emilio Smith Uebler LLC, Wilmington, DE; Edward D. Totino, Benjamin W. Turner, Baker Mckenzie LLP, Los Angeles, CA for plaintiff.
    for defendant: Robert L. Burns, Daniel E. Kaprow, Richards, Layton & Finger, P.A., Wilmington, DE; Michele Johnson, Kristin Murphy, Lat-ham & Watkins LLP, Costa Mesa, CA; Colleen Smith, Latham & Watkins LLP, San Diego, CA for defendants.

    Case Number: D69686

    The court held that plaintiff's shares were not Lockup Shares as defined in the bylaws adopted prior to the business combination between the Special Purpose Acquisition Company and plaintiff's former company, such that plaintiff was free to trade them immediately upon receipt. Relief in Count I granted.

  • In Re Multiplan Corp. Stockholders' Litig.

    Publication Date: 2022-01-18
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Gregory V. Varallo, Bernstein Litowitz Berger & Grossmann LLP, Wilmington, DE; Mark Lebovitch, Daniel E. Meyer, Margaret Sanborn- Lowing, Joseph W. Caputo, Bernstein Litowitz Berger & Grossmann LLP, New York, NY for plaintiffs.
    for defendant: Raymond J. DiCamillo, Kevin M. Gallagher, Matthew D. Perri, Richards, Layton & Finger, P.A., Wilmington, DE; Jonathan K. Youngwood, Rachel S. Sparks Bradley, Simpson Thacher & Bartlett LLP, New York, NY; Stephen P. Blake, Simpson Thacher & Bartlett LLP, Palo Alto, CA; Bradley R. Aronstam, S. Michael Sirkin, Ross Aronstam & Moritz LLP, Wilmington, DE; John A. Neuwirth, Joshua S. Amsel, Evert J. Christensen, Jr., Matthew S. Connors, Nicole E. Prunetti, Weil, Gotshal & Manges LLP, New York, NY for defendants.

    Case Number: D69679

    The court found that plaintiff's claim was direct, not derivative, the claims were not exclusively contractual, and that the claims were not holder claims predicated on stockholder inaction.

  • Dlayal Holdings, Inc. v. Al-Bawardi

    Publication Date: 2022-01-11
    Practice Area: Civil Procedure
    Industry: Real Estate
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Lisa Zwally Brown, Corinne R. Moini, Greenberg Traurig, LLP, Wilmington, DE for plaintiff.
    for defendant: Daniel K. Astin, Ciardi Ciardi & Astin, Wilmington, DE; Albert A. Ciardi, Walter W. Gouldsbury, Ciardi Ciardi & Astin, Philadelphia, PA; Marc Litt, Evan Weintraub, Wachtel Missry LLP; New York, NY for third-party plaintiff. Sidney S. Liebesman, Katelyn M. Crawford, Fox Rothschild LLP, Wilmington, DE; Justin P. Phelps, Gibson Watson Marino LLC, Wichita, KS for defendants.

    Case Number: D69670

    The court held that service of process on three Kansas residents under 6 Del. C. § 18-109(a) was not effective service because the three defendants were not managers of the subject entity.

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  • In re Kraft Heinz Co.

    Publication Date: 2021-12-28
    Practice Area: Corporate Governance
    Industry: Food and Beverage | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Joel Friedlander, Jeffrey Gorris, Christopher M. Foulds, Friedlander & Gorris P.A., Wilmington, DE; P. Bradford deLeeuw, Deleeuw Law LLC, Wilmington, DE; David A. Jenkins, Robert K. Beste III, Smith, Katzenstein & Jenkins LLP, Wilmington, DE; Eduard Korsinsky, Gregory M. Nespole, Nicholas I. Porritt, Daniel Tepper, Levi & Korsinsky LLP, New York, NY; Jeffrey S. Abraham, Mitchell M. Z. Twersky, Atara Hirsch, Michael J. Klein, Abraham, Fruchter & Twersky, LLP, New York, NY; Lawrence P. Eagel, W. Scott Holleman, Melissa A. Fortunato, Marion C. Passmore, Bragar Eagel & Squire, P.C., New York, NY; Michael VanOverbeke, Vanoverbeke, Michaud & Timmony, P.C., Detroit, MI; Deborah Sturman, Sturman LLC, New York, NY for plaintiffs.
    for defendant: Michael A. Pittenger, Jacqueline A. Rogers, Caneel Radinson-Blasucci, Potter Anderson & Corroon LLP, Wilmington, DE; Sandra C. Goldstein, Stefan Atkinson, Kevin M. Neylan, Jr., Kirkland & Ellis LLP, New York, NY; Matthew D. Stachel, Paul, Weiss, Rifkind, Wharton & Garrison LLP, Wilmington, DE; Daniel J. Kramer, Andrew J. Ehrlich, William A. Clareman, Paul, Weiss, Rifkind, Wharton & Garrison LLP, New York, NY for defendants.

    Case Number: D69657

    The court held that plaintiffs failed to plead sufficient allegations that a majority of the demand board was interested in a stock sale transaction such that demand would be excused.

  • Fortis Advisors LLC v. Johnson & Johnson

    Publication Date: 2021-12-28
    Practice Area: Contractual Disputes
    Industry: Health Care | Manufacturing
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Bradley R. Aronstam, Roger S. Stronach, Ross, Aronstam & Moritz LLP, Wilmington, DE; Philippe Z. Selendy, Andrew R. Dunlap, Sean P. Baldwin, Joshua S. Margolin, Greg Wolfe, Vivek Tata, Selendy & Gay LLC, New York, NY; Martin S. Schenker, Jeffrey S. Karr, Cooley LLP, San Francisco, CA; Daniel J. Pohlman, Daniel P. Roy III, Cooley LLP, New York, NY for plaintiff.
    for defendant: William M. Lafferty, Susan W. Waesco, Elizabeth A. Mullin, Morris, Nichols, Arsht, & Tunnel LLP, Wilmington, DE; Gary A. Bornstein, Damaris Hernández, LLP, New York, NY for defendants.

    Case Number: D69655

    The court denied defendants' motion to dismiss plaintiffs' claims of common law fraud, breach of implied covenant of good faith, entitlement to recission based upon mutual mistake, and unjust enrichment.

  • Swift v. Houston Wire & Cable Company

    Publication Date: 2021-12-21
    Practice Area: Mergers and Acquisitions
    Industry: Distribution and Wholesale
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Blake A. Bennett, Cooch and Taylor P.A., Wilmington, DE; W. Scott Holleman, Garam Choe, Bragar Eagel & Squire, P.C., New York, NY for plaintiff.
    for defendant: Mark Hurd, Miranda Gilbert, Morris, Nichols, Arsht, & Tunnell LLP, Wilmington, DE; Kayvan Sadeghi, Schiff Hardin LLP, New York, NY; Jin Yan, Schiff Hardin LLP, Chicago, IL for defendant.

    Case Number: D69647

    The court held that plaintiff did not have standing to file a suit to compel production of books and records of corporation be-cause, at the time of initiating litigation, plaintiff was not a stockholder in the corporation.

  • Drachman v. Cukier

    Publication Date: 2021-11-16
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Pharmaceuticals
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Brian E. Farnan, Michael J. Farnan, Farnan LLP, Wilmington, DE; Steven J. Purcell, Douglas E. Julie, Robert H. Lefkowitz, Anisha Mirchandani, Purcell Julie & Lefkowitz LLP, New York, NY for plaintiffs.
    for defendant: Blake Rohrbacher, Alexander M. Krischik, Richards, Layton & Finger, P.A., Wilmington, DE; Caroline H. Bullerjahn, Goodwin Procter LLP, Boston, MA; Peter B. Ladig, Brett M. McCartney, Bayard P.A., Wilmington, DE for defendants.

    Case Number: D69606

    The court held that plaintiffs' amended complaint satisfied pleading requirements for a claim of breach of fiduciary duty concerning board approval and implementation of charter amendments where 1) plaintiffs made a valid demand on the board to correct a violation and 2) the allegations supported an inference that the demand was wrongfully refused.

  • Chertok v. Zillow, Inc.

    Publication Date: 2021-11-02
    Practice Area: Mergers and Acquisitions
    Industry: E-Commerce | Investments and Investment Advisory | Real Estate
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Michael J. Maimone, Barnes & Thornburg LLP, Wilmington, DE for plaintiffs.
    for defendant: Geoffrey G. Grivner, Kody M. Sparks, Buchanan Ingersoll & Rooney PC, Wilmington, DE for defendant.

    Case Number: D69590

    Complaint seeking contractual remedies from a merger, filed six years after the closing of the merger transaction, was patently untimely under the applicable statute of limitations.