• Absalom Absalom Trust v. Saint Gervais LLC

    Publication Date: 2019-07-10
    Practice Area: Corporate Entities
    Industry:
    Court: Court of Chancery
    Judge: Vice Chancellor Montgomery-Reeves
    Attorneys: For plaintiff: Kevin R. Shannon, Christopher N. Kelly, and Jay G. Stirling, Potter Anderson & Corroon LLP, Wilmington, DE; Nathan M. Bull, Adam K. Magid, and Ailsa H. Chau, Cadwalader, Wickersham & Taft, LLP, New York, NY for plaintiff
    for defendant: Davis S. Eagle and Sean M. Brennecke, Klehr Harrison Harvey Branburg LLP, Wilmington, DE; Kenneth E. Warner, Warner Partners, P.C., New York, NY; Richard A. Greenberg, Steven Y. Yurowitz, and William J. Dobie, Newman & Greenberg LLP, New York, NY for defendant.

    Case Number: D68623

    Plaintiff lacked standing to inspect defendant LLC's books and records where defendant's operating agreement expressly limited inspection to members and stated that any unapproved transfer of membership interest or status was null and void, meaning that plaintiff could not become a member of defendant through an unapproved transfer of interest.

  • In re Facebook, Inc. Section 220 Litig.

    Publication Date: 2019-06-12
    Practice Area: Corporate Entities
    Industry: E-Commerce
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Peter B. Andrews, Craig J. Springer and David M. Sborz, Andrews & Springer, LLC, Wilmington, DE; Geoffrey M. Johnson, Donald A. Broggi, Scott R. Jacobsen and Jing-Li Yu, Scott+Scott Attorneys at Law LLP, Cleveland Heights, OH and New York, NY for plaintiff City of Birmingham Relief and Retirement System. Ryan M. Ernst, O'Kelly Ernst & Joyce, LLC, Wilmington, DE; Thomas J. McKenna and Gregory M. Egleston, Gainey McKenna & Egleston, New York, NY for plaintiff Lidia Levy.
    for defendant: David E. Ross and R. Garrett Rice, Ross of Aronstam & Moritz LLP, Wilmington, DE; Orin Snyder, Kristin A. Linsley, Brian M. Lutz, Paul J. Collins and Joshua S. Lipshutz, Gibson, Dunn & Crutcher LLP, New York, NY, San Francisco, CA, Palo Alto, CA and Washington, DC for defendant.

    Case Number: D68594

    Plaintiffs provided a credible basis to support their demand for corporate books and records, because they presented some ev-idence of the company's failure to ensure the privacy of users' data.

  • Greenhouse v. Polychain Fund I LP

    Publication Date: 2019-06-12
    Practice Area: Corporate Entities
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Joseph H. Huston, Jr. and Stacey A. Scrivani, Stevens & Lee, P.C., Wilmington, DE; Todd C. Toral and AnnaMarie A. VanHoesen, Jenner & Block LLP, Los Angeles, CA for plaintiff.
    for defendant: Jeffrey M. Gorris and Christopher P. Quinn, Friedlander & Gorris, P.A., Wilmington, DE; J. Noah Hagey and Taylor Altman, Braunhagey & Borden LLP, New York, NY for defendants.

    Case Number: D68593

    A former limited partner no longer had standing to request books and records, because his interest in the company was fully redeemed at the time of the request.

  • Coyne v. Fusion Healthworks, LLC

    Publication Date: 2019-05-15
    Practice Area: Corporate Entities | Trusts and Estates
    Industry: Health Care | Insurance
    Court: Court of Chancery
    Judge: Vice Chancellor Zurn
    Attorneys: For plaintiff: Kathleen Coyne, pro se plaintiff.
    for defendant: Josiah R. Wolcott, Connolly Gallagher LLP, Wilmington, DE for defendants.

    Case Number: D68558

    Dismissal of deceased LLC member's spouse's claim for proceeds of company-purchased life insurance policy not dismissed where LLC agreement did not terminate upon dissolution, when dissolution reasonably required member vote.

  • Freeman Family LLC v. Park Avenue Landing LLC

    Publication Date: 2019-05-15
    Practice Area: Corporate Entities
    Industry: Real Estate
    Court: Court of Chancery
    Judge: Vice Chancellor Montgomery-Reeves
    Attorneys: For plaintiff: Patricia L. Enerio and Jamie L. Brown, Heyman Enerio Gattuso & Hirzel LLP, Wilmington, DE for plaintiff.
    for defendant: Thad J. Bracegirdle and Scott B. Czerwonka, Wilks Lukoff and Bracegirdle, LLC, Wilmington, DE; Adam K. Derman and Brian P. O'Neill, Chiesa Shahinian & Giantomasi PC, West Orange, NJ for defendant.

    Case Number: D68562

    A member of a limited liability company was functioning in its official capacity, so it was entitled to advancement and fees-on-fees under the terms of the operating agreement.

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  • Smith v. Promontory Fin. Group, LLC

    Publication Date: 2019-05-15
    Practice Area: Corporate Entities
    Industry: Consulting
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: David A. Jenkins and Laurence V. Cronin, Smith Katzenstein & Jenkins LLP, Wilmington, DE for plaintiffs.
    for defendant: Bruce E. Jameson and Eric J. Juray, Prickett, Jones & Elliott, P.A., Wilmington, DE; Robert M. Cary, Alexander S. Zolan and Robert M. Belden, Williams & Connolly LLP, Washington, DC for defendants.

    Case Number: D68564

    The withdrawing member of a limited liability company was entitled to half the value of the company as of the date of with-drawal, less the amount he owed on his capital account.

  • Forman v. CentrifyHealth, Inc.

    Publication Date: 2019-05-08
    Practice Area: Corporate Entities
    Industry: Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Michael A. Weidinger and Joanne P. Pinckney, Pinckney, Weidinger, Urban & Joyce LLC, Wilmington, DE for plaintiff.
    for defendant: William M. Lafferty, Susan W. Waesco, and Sabrina M. Hendershot, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Bruce C. Doeg, John S. Hicks, and Christopher E. Thorsen, Baker, Donelson, Bearman, Caldwell & Berkowitz, PC, Nashville, TN for defendants.

    Case Number: D68552

    Claim to company equity dismissed pursuant to laches where company repeatedly provided plaintiff over an 11-year period with documentation explicitly demonstrating that company did not acknowledge plaintiff's ownership of the equity at issue.

  • CelestialRX Invs., LLC v. Krivulka

    Publication Date: 2019-04-10
    Practice Area: Corporate Entities | Dispute Resolution
    Industry: Pharmaceuticals
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Michael W. McDermott and David B. Anthony, Berger Harris LLP, Wilmington, DE; Benjamin C. Curcio, Paul F. Campano, Jessica A. Tracy, Michael D. Zahler, and Jason S. Haller Curcio Mirzaian Sirot LLC, Roseland, NJ for plaintiffs.
    for defendant: Garrett B. Moritz and Bejamin Z. Grossberg, Ross Aronstam & Moritz LLP, Wilmington, DE; Andrew E. Anselmi and Zachary D. Wellbrock, McCusker, Anselmi, Rosen & Carvelli, P.C., Florham Park, NJ; Samuel T. Hirzel, II and Aaron M. Nelson, Heyman Enerio Gattuso & Hirzel LLP, Wilmington, DE; Andrew D. Cordo and F. Troupe Mickler IV, Ashby & Geddes, Wilmington, DE; Jody C. Barillare, Morgan, Lewis & Bockius LLP, Wilmington, DE; Brian A. Herman, Morgan, Lewis & Bockius LLP, New York, NY; Ryan P. Newell and Lauren P. DeLuca, Connolly Gallagher, LLP, Wilmington, DE; Phillip A. Rovner and Jonathan A. Choa, Potter Anderson & Corroon LLP, Wilmington, DE for defendants.

    Case Number: D68518

    Claims for breach of restrictive covenants were stayed pending arbitration on the issue of arbitrability given the broad scope of the covenants' arbitration clauses, but dismissed where the court lacked jurisdiction over defendants who did not qualify as a "manager" of the domestic LLC.

  • In re 11 W. Partners, LLC

    Publication Date: 2019-04-03
    Practice Area: Corporate Entities
    Industry: Real Estate
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: C. Barr Flinn, Emily V. Burton, and Daniel Kirshenbaum, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; Michael J. Bowe, Alexander B. Simkin, and John A. Dunn, Kasowitz Benson Torres LLP, New York, NY for plaintiff.
    for defendant: Ryan P. Newell, Kyle Evans Gay, and Shaun Michael Kelly, Connolly Gallagher LLP, Wilmington, DE; Stan Chelney and Philipp Smaylovsky, Chelney Law Group PLLC, New York, NY for defendants.

    Case Number: D68512

    Reformation of LLCs agreements denied where there was no clear and convincing evidence the language of the agreements failed to reflect the members' true intent or that the non-moving party knew the agreements failed to reflect the parties' intent and failed to inform his fellow members.

  • KT4 Partners LLC v. Palantir Tech. Inc.

    Publication Date: 2019-02-13
    Practice Area: Corporate Entities
    Industry: Investments and Investment Advisory | Technology Media and Telecom
    Court: Delaware Supreme Court
    Judge: Justice Strine
    Attorneys: For plaintiff: Bartholomew J. Dalton and Michael C. Dalton, Dalton & Assoc., P.A., Wilmington, DE; Barry S. Simon, Jonathan B. Pitt and Stephen L. Wohlgemuth, Williams & Connolly LLP, Washington, DC for plaintiff.
    for defendant: Blake Rohrbacher, Kevin M. Gallagher and Kelly L. Freund, Richards, Layton & Finger, P.A., Wilming-ton, DE; Kevin J. Orsini and Rory A. Leraris, Cravath, Swaine & Moore LLP, New York, NY for defendant.

    Case Number: D68458

    The chancery court abused its discretion in refusing to allow a shareholder to inspect emails under a §220 books and records, request, because the corporation did not have any formal documents relating to the amend-ment of an investors' rights agreement.