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Publication Date: 2024-12-17
Practice Area: Family Law
Industry:
Court: Delaware Supreme Court
Judge: Justice Traynor
Attorneys: For plaintiff: Kara M. Swasey, Bayard, P.A., Wilmington, DE for appellant.
for defendant: Jennifer A. Hartnett, Hartnett & Hartnett, Hockessin, DE for appellee.
Case Number: 66, 2024
Family court erroneously refused to enforce divorced couple's agreement to resolve property division where email correspondence contained necessary terms and the parties' unequivocal agreement on those terms.
Publication Date: 2024-12-17
Practice Area: Corporate Governance
Industry: Health Care | Insurance | Investments and Investment Advisory
Court: Court of Chancery
Judge: Vice Chancellor Cook
Attorneys: For plaintiff: Samuel T. Hirzel, II, Elizabeth A. DeFelice, Heyman Enerio Gattuso & Herzel LLP; Wilmington, DE; Kevin M. Coen, Kirk C. Andersen, Morris, Nichols, Arsht, Tunnell LLP, Wilmington, DE for plaintiff.
for defendant: Kevin G. Abrams, Eric A. Veres, Abrams & Bayliss LLP, Wilmington, DE; Kevin M. Gallagher, Edmond S. Kim, Wilmington, DE for defendant.
Case Number: 2023-0037-NAC
Court dismissed fiduciary claim due to lack of demand futility where shareholder failed to prove that a majority of the board was not disinterested or could not properly evaluate a litigation demand, as directors did not face personal liability and the evidence did not undermine their independence.
Publication Date: 2024-12-17
Practice Area: Real Estate
Industry: Automotive | Real Estate
Court: Court of Chancery
Judge: Chancellor McCormick
Attorneys: For plaintiff: Elizabeth Wilburn, Joyce Megan Ix Brison, Pinckey, Weidinger, Urban & Joyce LLC, Wilmington, DE for plaintiff.
for defendant: Jack Shrum, Jack Shrum, P.A., Wilmington, DE for defendants.
Case Number: 2019-0750-KSJM
Court granted final judgment where parties' dispute resolution agreement did not preclude independent appraiser from revising his appraisal and parties' conduct indicated they understood that the appraisal would be subject to revision.
Publication Date: 2024-12-17
Practice Area: Antitrust
Industry: Financial Services and Banking | Investments and Investment Advisory
Court: U.S. District Court of Delaware
Judge: District Judge Connolly
Attorneys: For plaintiff: Blake A. Bennett, Cooch & Taylor P.A., Wilmington, DE; Velvel Freedman, Freedman Normand Friedland LLP, Miami, FL; Amos Friedland, Kyle W. Roche, Alex Potter, Stephen Lagos, Freedman Normand Friedland LLP, New York, NY for plaintiffs.
for defendant: C. Barr Flinn, Anne Shea Gaza, Robert M. Vrana, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; Benjamin R. Nagin, Eric G. Hoffman, Sidley Austin LLP, New York, NY; Tacy F. Flint, Frank J. Favia, Jr., Sidley Austin LLP, Chicago, IL for defendants.
Case Number: 23-CV-256-CFC
Plaintiffs' antitrust claims failed where valid and enforceable non-compete provisions between employers and employees did not implicate antitrust concerns.
Publication Date: 2024-12-17
Practice Area: Mergers and Acquisitions
Industry: Investments and Investment Advisory | Software
Court: Delaware Supreme Court
Judge: Justice Valihura
Attorneys: For plaintiff: Lisa Schmidt, Robert L. Burns, Matthew D. Perri, John M. O’Toole, Richards Layton & Finger, Wilmington, DE; Andrew J. Rossman, David M. Cooper, Charles H. Sangree, Judrick Fletcher, Quinn Emanuel Urquhart & Sullivan, LLP, New York, NY; Matthew Solum, John P. Del Monaco, Yosef J. Riemer, Kirkland & Ellis LLP, New York, NY for appellants.
for defendant: Joel Friedlander, Jeffrey M. Gorris, Christopher M. Foulds, Friedlander & Gorris, P.A., Wilmington, DE; Gregory V. Varallo, Andrew E. Blumberg, Bernstein Litowitz Berger & Grossmann LLP, Wilmington, DE; Jeroen van Kwawegen, Bernstein Litowitz Berger & Grossmann LLP, New York, NY for appellees.
Case Number: 484, 2023
Acquirer was not liable for aiding and abetting company's CEO's breach of duty of disclosure where it took no active action but merely failed to intervene to notify of material omissions in the transaction proxy documents.
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Publication Date: 2024-12-17
Practice Area: Corporate Governance
Industry: Health Care | Investments and Investment Advisory
Court: Court of Chancery
Judge: Vice Chancellor Will
Attorneys: For plaintiff: Srinivas M. Raju, Matthew D. Perri, Kyle H. Lachmund, Mari Boyle, Richards, Layton & Finger, P.A., Wilmington, DE; William Savitt, Sarah K. Eddy, Andrew J.H. Cheung, Brittany A. Fish, Daniel B. Listwa, Min K. Lobb, Wachtell, Lipton, Rosen & Katz, New York, NY; Matthew H. Lembke, Zachary Madonia, Savannah Kolodziej, Bradley Arant Boult Cummings LLP, Birmingham, AL for plaintiffs.
for defendant: Lewis H. Lazarus, Albert J. Carroll, Barnaby Grzaslewicz, Samuel E. Bashman, Morris James LLP, Wilmington, DE; John F. Hartmann, Gabor Balassa, Timothy W. Knapp, Britt Cramer, Kirkland & Ellis LLP, Chicago, IL; Kenneth J. Nachbar, Megan Ward Cascio, Alexandra M. Cumings, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Bruce Sperling, Eamon P. Kelly, Sperling & Slater, LLC, Chicago, IL for defendants.
Case Number: 2022-0837-LWW
Although defendants were clearly liable for breaches of the duty of loyalty and aiding and abetting, because defendants' competing venture was not yet profitable, the appropriate remedy was to establish a constructive trust entitling plaintiffs to an equitable payment stream from any future gains defendants earned from their venture.
Publication Date: 2024-12-17
Practice Area: Contracts
Industry: Financial Services and Banking
Court: Court of Chancery
Judge: Vice Chancellor Will
Attorneys: For plaintiff: Bradley R. Aronstam, Garrett B. Moritz, Reiko Rogozen, Anthony Calvano, Ross Aronstam & Moritz LLP, Wilmington, DE; David M. Grable, Quinn Emanuel Urquhart & Sullivan, LLP, Los Angeles, CA; Manisha M. Sheth, Wing F. Ng, Alex Zuckerman, Jeffrey C. Arnier, Quinn Emanuel Urquhart & Sullivan, LLP, New York, NY; Veronica B. Bartholomew, Quinn Emanuel Urquhart & Sullivan, LLP, Wilmington, DE for plaintiff.
for defendant: Daniel A. Mason, Elizabeth Wang, Paul, Weiss, Rifkind, Wharton & Garrison LLP, Wilmington, DE; Richard Jacobsen, Thomas Kidera, Orrick Herrington & Sutcliffe LLP, New York, NY for defendant.
Case Number: 2022-1203-LWW
Purchaser of mortgage loans is entitled to damages where seller, who stayed on as servicer, breached representations and warranties regarding the status of some of the sold loans and failed to process distressed loans under applicable federal regulations, although seller was entitled to reimbursement of its expended servicing advances minus self-help it engaged in.
Publication Date: 2024-12-17
Practice Area: Corporate Governance
Industry: Automotive | Manufacturing
Court: Court of Chancery
Judge: Chancellor McCormick
Attorneys: For plaintiff: Gregory V. Varallo, Daniel E. Meyer, Bernstein Litowitz Berger & Grossmann LLP, Wilmington, DE; Jeroen van Kwawegen, Margaret Sanborn-Lowing, Bernstein Litowitz Berger & Grossmann LLP, New York, NY; Peter B. Andrews, Craig J. Springer, David M. Sborz, Jackson E. Warren, Andrews & Springer LLC, Wilmington, DE; Jeremy S. Friedman, Spencer M. Oster, David F.E. Tejtel, Friedman Oster & Tejtel PLLC; Bedford Hills, New York for plaintiff.
for defendant: David E. Ross, Garrett B. Moritz, Thomas C. Mandracchia, Ross Aronstam & Moritz LLP, Wilmington, DE; Michael A. Barlow, Quinn Emanuel Urquhart & Sullivan, LLP, Wilmington, DE; Alex B. Spiro, Christopher D. Kercher, Jonathan E. Feder, Quinn Emanuel Urquhart & Sullivan, LLP, New York, NY; Kathleen M. Sullivan, Quinn Emanuel Urquhart & Sullivan, LLP, Los Angeles, CA; Daniel Slifkin, Vanessa A. Lavely, Cravath, Swaine & Moore LLP, New York, NY; Catherine A. Gaul, Randall J. Teti, Ashby & Geddes, P.A., Wilmington, DE; John L. Reed, Ronald N. Brown, III, Caleb G. Johnson, Daniel P. Klusman, DLA Piper LLP (US), Wilmington, DE; William M. Lafferty, Susan W. Waesco, Ryan D. Stottmann, Miranda N. Gilbert, Jacob M. Perrone, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Rudolf Koch, John D. Hendershot, Kevin M. Gallagher, Andrew L. Milam, Richards, Layton & Finger, P.A., Wilmington, DE; Brian T. Frawley, Matthew A. Schwartz, Sullivan & Cromwell LLP, New York, NY; A. Thompson Bayliss, Adam K. Schulman, Eliezer Y. Feinstein, Abrams & Bayliss LLP, Wilmington, DE; Kristen R. Seeger, John M. Skakun III, Elizabeth Y. Austin, Sidley Austin LLP, Chicago, IL for defendants.
Case Number: 2018-0408-KSJM
Court rejected board's post-trial efforts to obtain stockholder "ratification" of executive compensation award that failed to meet entire fairness standard where ratification was an affirmative defense required to be raised before the close of trial and where material misstatements and omissions in proxy materials meant the vote alone could not ratify a conflicted controller driven award.
Publication Date: 2024-12-10
Practice Area: Bankruptcy
Industry: Financial Services and Banking | E-Commerce
Court: U.S. Bankruptcy Court
Judge: Judge Silverstein
Attorneys: For plaintiff:
for defendant:
Case Number: 14-10486 (LSS)
Court rejected claim for escheated funds where evidence did not support finding that the source of the funds came from payments plaintiff had made.
Publication Date: 2024-12-10
Practice Area: Real Estate
Industry:
Court: Court of Chancery
Judge: Vice Chancellor Will
Attorneys: For plaintiff: William B. Larson, Jr., Manning Gross + Massenburg LLP, Wilmington, DE for plaintiffs.
for defendant: Christine Thompson, Millsboro, DE, defendant pro se.
Case Number: 2024-1039-LWW
Court awarded property buyers specific performance and incidental damages after they met all contingencies of the purchase and sale agreement, after which seller backed out of the deal, leaving buyers homeless after they sold their prior residence as contemplated by the agreement.
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