In re Martha Stewart Living Omnimedia, Inc. Stockholder Litigation, DEFAX Case No. D67850 (Del. Ch. Aug. 18, 2017), Slights, V.C. (70 pages).
DELAWARE COURT OF CHANCERY
August 31, 2017 at 12:00 AM
3 minute read
The original version of this story was published on Delaware Law Weekly
DELAWARE COURT OF CHANCERY
In re Martha Stewart Living Omnimedia, Inc. Stockholder Litigation, DEFAX Case No. D67850 (Del. Ch. Aug. 18, 2017), Slights, V.C. (70 pages).
Minority stockholders failed to plead sufficient facts to support a reasonable inference that the controlling stockholder engaged in a conflicted transaction where procedural protections were in place prior to the negation of side agreements. Motions to dismiss granted.
Plaintiffs in this consolidated class action were former stockholders of Martha Stewart Living Omnimedia, Inc. (“MSLO”). They brought claims against Martha Stewart (“Stewart”), the former controlling stockholder of MSLO, for breach of fiduciary duty. The claims arose out of a transaction that closed in December 2015, whereby MSLO was acquired by Sequential Brands, Group, Inc. (“Sequential”) in a merger. Plaintiffs also asserted claims against Sequential for aiding and abetting.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View All
Upholding $266.7M Fee Award, Del. Supreme Court Rejects Diminishing-Returns Curb on Bigger Wins
4 minute read
'Monopoly Prices'?: Big Pharma Co. Amgen Accused of Anticompetitive Conduct
3 minute read
Zantac Defendants: Delaware Could See Mass Tort Surge If Expert Testimony Decision Holds
4 minute readTrending Stories
Who Got The Work
Christopher J. DeGroff, Andrew L. Scroggins and Samantha L. Brooks from Seyfarth Shaw have stepped in to represent AG Equipment Company in a pending lawsuit over alleged employment discrimination under the ADA. The case was filed Aug. 30 in Oklahoma Northern District Court by the Equal Employment Opportunity Commission on behalf of five former employees who contend that they were wrongfully terminated after seeking accommodations from the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. District Judge Sara E. Hill, is 4:24-cv-00403, Equal Employment Opportunity Commission v. AG Equipment Company.
Who Got The Work
Samantha J. Hughes of Dykema Gossett has entered an appearance for Home Depot in a pending slip-and-fall personal injury lawsuit. The suit was filed Aug. 30 in California Central District Court by Countrywide Trial Lawyers on behalf of Ernestina Rolon. The case, assigned to U.S Magistrate Judge Karen L. Stevenson, is 2:24-cv-07451, Ernestina Rolon v. The Home Depot, Inc. et al.
Who Got The Work
R. Evan Jarrold and Latiqua M. Liles of Constangy, Brooks, Smith & Prophete have entered appearances for Walmart in a pending lawsuit for alleged breaches of the Family and Medical Leave Act. The complaint was filed Aug. 30 in Missouri Eastern District Court by Roberts, Wooten & Zimmer on behalf of a former Walmart employee who contends that he was wrongfully terminated for taking medical leave after contracting COVID-19. The case, assigned to U.S. District Judge Matthew T. Schelp, is 4:24-cv-01196, Weber v. Walmart, Inc.
Who Got The Work
Nelson Mullins Riley & Scarborough partner Molly Jean Given has entered an appearance for CooperCompanies, a medical device maker comprised of CooperVision and CooperSurgical, in a pending product liability lawsuit. The case, filed Aug. 27 in California Northern District Court by Girard Sharp and Sauder Schelkopf LLC, is part of a wave of cases brought on behalf of plaintiffs whose embryos failed to develop during in-vitro fertilization due to alleged contamination of the defendant's embryo culture media lots. The case, assigned to U.S. District Judge Jon S. Tigar, is 4:24-cv-06047, I.I. et al v. CooperSurgical, Inc. et al.
Who Got The Work
Jacob Oslick of Seyfarth Shaw has entered an appearance for Prudential Insurance Co. of America in a pending ERISA lawsuit. The complaint, which pertains to short- and long-term disability benefits, was filed Aug. 29 in Pennsylvania Eastern District Court by the Cornerstone Law Firm on behalf of Catherine Alunni. The case, assigned to U.S. District Judge John M. Gallagher, is 5:24-cv-04547, Alunni v. The Prudential Insurance Company Of America.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250
