• In re Dissolution of Jeffco Mgmt., LLC

    Publication Date: 2021-09-01
    Practice Area: Corporate Entities
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Fioravanti
    Attorneys: For plaintiff: Jason C. Powell, The Powell Firm, LLC, Wilmington, DE, receiver for Jeffco Management, LLC. S. Michael Sirkin Ross Aronstam & Moritz LLP, Wilmington, DE for petitioner.
    for defendant: John G. Harris, Berger Harris LLP, Wilmington, DE; James Nealon, Withers Bergman LLP, New York, NY for respondent.

    Case Number: D69524

    The court granted the receiver's motion to approve an in-kind distribution of the assets of a limited liability company to one of the members, and it ordered the other member to pay attorney fees.

  • Simple Global, Inc. v. Banasik

    Publication Date: 2021-07-14
    Practice Area: Corporate Entities
    Industry: Cargo and Shipping | E-Commerce
    Court: Court of Chancery
    Judge: Vice Chancellor Fioravanti
    Attorneys: For plaintiff: Thomas G. Macauley, Macauley LLC, Wilmington, DE for plaintiff.
    for defendant: Peter K. Schaeffer, Jr., Avenue Law, Dover, DE for defendant.

    Case Number: D69466

    A former director waited too long to challenge his removal, and the court concluded that the remaining shareholders had authority to remove him from his role as a director.

  • Deutsche Bank AG v. Devon Park Bioventures, L.P.

    Publication Date: 2021-07-14
    Practice Area: Corporate Entities
    Industry: Financial Services and Banking | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Stephen C. Norman, Aaron R. Sims, Potter Anderson & Corroon LLP, Wilmington, DE; David G. Januszewski, Sheila C. Ramesh, Cahill Gordon & Reindel LLP, New York, NY for plaintiff.
    for defendant: James M. Yoch, Jr., Kevin P. Rickert, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; Kevin C. Maclay, Todd E. Phillips, Quincy M. Crawford, Nathaniel R. Miller, Caplin & Drysdale, Chartered, Washington, DC; William M. Kelleher, Phillip A. Giordano, Gordon Fournaris & Mammarella, P.A., Wilmington, DE; Ira S. Zaroff, Richard M. Zaroff, Zaroff & Zaroff LLP, Garden City, NY; P. Clarkson Collins, Jr., K. Tyler O’Connell, Albert J. Carroll, R. Eric Hacker, Damon B. Ferrara, Morris James LLP, Wilmington, DE for defendants.

    Case Number: D69464

    Transfer of an ownership interest in a Delaware entity by itself was insufficient to constitute sufficient minimum contacts to support the exercise of long-arm jurisdiction over the foreign transferor and transferee.

  • Angel v. Warrior Met Coal Inc.

    Publication Date: 2021-07-14
    Practice Area: Corporate Entities
    Industry: Mining and Resources
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Julia B. Klein, Klein LLC, Wilmington, DE for plaintiff.
    for defendant: Matthew F. Davis, Justin T. Hymes, Potter Anderson & Corroon LLP, Wilmington, DE; Stephen M. Baldini, Brian Carney, Stephanie Lindemuth, Akin Gump Strauss Hauer & Feld LLP, New York, NY for defendant.

    Case Number: D69462

    Breach of contract, breach of fiduciary duty, and conversion claims, arising from debtor's failure to exercise his rights to receive distribution pursuant to bankruptcy court order, failed where debtor had not identified a contract or fiduciary duty for defendants to ensure he had notice of the condition precedent to debtor receiving the distribution.

  • Goldberg v. Bruck

    Publication Date: 2021-07-07
    Practice Area: Corporate Entities
    Industry: Biotechnology | Pharmaceuticals
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: R. Karl Hill, Seitz, Van Ogtrop & Green, P.A., Wilmington, DE; Gregory Zimmer, New York, NY for petition-er.
    for defendant: Richard P. Rollo, Sarah A. Clark, Angela Lam, Richards, Layton & Finger, P.A., Wilmington, DE; Barry Ka-zan, Mintz & Gold LLP, New York, NY; Faith Charles, Thompson Hine LLP, New York, NY for respondents.

    Case Number: D69457

    Two individuals had been properly appointed to a board of directors in accordance with the procedures set forth in the company's governing documents, so the court granted a motion to dismiss.

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  • Manichaean Capital, LLC v. Exela Tech., Inc.

    Publication Date: 2021-06-09
    Practice Area: Corporate Entities
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Rudolf Koch, Matthew W. Murphy, Andrew L. Milam, Richards, Layton & Finger, P.A., Wilmington, DE; Samuel J. Lieberman, Alexander H. McCabe, Sadis & Goldberg LLP, New York, NY; Steven K. Davidson, Mi-chael J. Baratz, Claire Schachter, Lauren Goldschmidt, Steptoe & Johnson LLP, Washington, DC for plaintiffs.
    for defendant: T. Bradley Davey, Matthew F. Davis, Andrew H. Sauder, Potter Anderson & Corroon LLP, Wilmington, DE; Jennifer Barrett, Dennis H. Hranitzky, Blair Adams, Quinn Emanuel Urquhart & Sullivan, LLP, New York, NY for defendants.

    Case Number: D69428

    The court held that reverse corporate veil piercing was proper where plaintiffs' complaint adequately al-leged that a company's subsidiaries participated in a scheme to deprive plaintiffs of the benefit of their judg-ment.

  • In re: TransPerfect Global, Inc.

    Publication Date: 2021-05-19
    Practice Area: Corporate Entities
    Industry: Consulting
    Court: Court of Chancery
    Judge: Chancellor Bouchard
    Attorneys: For plaintiff: Kevin R. Shannon, Potter Anderson & Corroon LLP, Wilmington, DE; Philip S. Kaufman, Kramer Levin Naftalis & Frankel LLP, New York, NY for petitioner.
    for defendant: Jeremy D. Eicher, Eicher Law LLC, Wilmington, DE; David B. Goldstein, Rabinowitz, Boudin, Standard, Krinsky & Lieberman, P.C., New York, NY for respondent Shawe. Frank E. Noyes, II, Offit Kurman, P.A., Wilmington, DE; Adam K. Bult, Brownstein Hyatt Farber Schreck, LLP, Las Vegas, NV for nominal party TransPerfect Global.

    Case Number: D69399

    Court-appointed corporate custodian was entitled to reimbursement of fees and expenses incurred in responding to majority owner's frivolous litigation challenging custodian's fee petitions.

  • Gross v. Biogen Inc.

    Publication Date: 2021-04-28
    Practice Area: Corporate Entities
    Industry: Pharmaceuticals
    Court: Court of Chancery
    Judge: Vice Chancellor Fioravanti
    Attorneys: For plaintiff: Kurt M. Heyman, Gillian L. Andrews, Heyman Enerio Gattuso & Hirzel LLP, Wilmington, DE; Gustavo F. Bruckner, Daryoush Behbood, Pomerantz LLP, New York, NY for plaintiff.
    for defendant: Kevin G. Abrams, J. Peter Shindel, Jr., Eliezer Y. Feinstein, Abrams & Bayliss LLP, Wilmington, DE for de-fendant.

    Case Number: D69378

    Shareholder demonstrated a proper purpose for his books and records request, but the court limited the scope of the inspection to formal materials considered by the board.

  • Seokoh, Inc. v. Lard-PT, LLC

    Publication Date: 2021-04-21
    Practice Area: Corporate Entities
    Industry: Consumer Products
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Jacob R. Kirkham, Kobre & Kim LLP, Wilmington, DE; Robin J. Baik, Leif T. Simonson, S. Nathan Park, Kobre & Kim LLP, New York, NY for petitioner.
    for defendant: John G. Harris, Peter C. McGivney, Berger Harris LLP, Wilmington, DE; Stuart Kagen, Russell Bogart, Ka-gen, Caspersen & Bogart PLLC, New York, NY for respondent.

    Case Number: D69373

    The court found that petitioner had alleged a reasonably conceivable basis upon which judicial dissolution was warranted, so it denied respondent's motion to dismiss.

  • Giesecke+Devrient Mobile Security Am., Inc. v. NXT-ID, Inc.

    Publication Date: 2021-03-31
    Practice Area: Corporate Entities
    Industry: Financial Services and Banking
    Court: Court of Chancery
    Judge: Vice Chancellor Fioravanti
    Attorneys: For plaintiff: Lewis H. Lazarus, K. Tyler O’Connell, Bryan Townsend, Morris James LLP, Wilmington, DE; Aryeh S. Portnoy, Emily Alban, Crowell & Moring LLP, Washington, DC for plaintiff.
    for defendant: S. Mark Hurd, Alexandra M. Cummings, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Michael T. Sullivan, David E. Danovitch, Clark A. Freeman, Sullivan & Worcester LLP, New York, NY for defendant.

    Case Number: D69345

    The plain language of a contract provided that a holder of preferred stock was entitled to dividends at a higher rate in perpetuity.