• Novosselov v. Y247 Holding Co.

    Publication Date: 2024-11-26
    Practice Area: Contracts
    Industry: Consumer Products | Manufacturing
    Court: Court of Chancery
    Judge: Vice Chancellor Zurn
    Attorneys: For plaintiff: Elizabeth Wilburn Joyce, Pickney Weidinger, Urban & Joyce LLC, Wilmington, DE for plaintiff.
    for defendant: D. McKinley Measley, Esquire Morris, Nichols, Arsht, & Tunnell LLP, Wilmington, DE, attorney for defendant.

    Case Number: 2024-0283-MTZ

    Court converted motion to dismiss into one for summary judgment and granted the parties leave to agree on a discovery/briefing schedule where defendants' motion to dismiss was accompanied by exhibits not integral to nor incorporated by reference into plaintiff's complaint.

  • Gunderson v. The Trade Desk, Inc.

    Publication Date: 2024-11-19
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Fioravanti
    Attorneys: For plaintiff: Gregory V. Varallo, Andrew E. Blumberg, Daniel E. Meyer, Bernstein Litowitz Berger & Grossmann LLP, Wilmington, DE; Christopher J. Orrico, Shiva Mohan, Bernstein Litowitz Berger & Grossmann LLP, New York, NY; Jeremy S. Friedman, David F.E. Tejtel, Alexander M. Krischik, David A. Rosenfeld, Friedman Oster & Tejtel PLLC, Bedford Hills, NY; Joel Fleming, Lauren Godles Milgroom, Equity Litigation Group LLP, Boston, MA; D. Seamus Kaskela, Adrienne Bell, Kaskela Law LLC, Newtown Square, PA for plaintiff;
    for defendant: Brad D. Sorrels, Andrew D. Cordo, Nora M. Crawford, Lauren G. DeBona, Jacqueline G. Conner, Wilson Sonsini Goodrich & Rosati P.C., Wilmington, DE; Colleen C. Smith, Latham & Watkins LLP, San Diego, CA; Blair Connelly, Zachary L. Rowen, Thomas Giblin, Latham & Watkins LLP, New York, NY; Ryan A. Walsh, Latham & Watkins LLP, Costa Mesa, CA; David J. Berger, Wilson Sonsini Goodrich & Rosati P.C., Palo Alto, CA for defendants.

    Case Number: 2024-1029-PAF

    Court declined to apply supermajority voting requirement under article of company's certificate of incorporation where it lacked language specifying its applicability to all possible forms of reincorporation.

  • In re Straight Path Commc'ns Inc. Consol. Stockholder Litig.

    Publication Date: 2024-11-12
    Practice Area: Mergers and Acquisitions
    Industry: Investments and Investment Advisory | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Ned Weinberger, Mark Richardson, Labaton Sucharow LLP, Wilmington, DE; Jeroen van Kwawegen, Edward G. Timlin, Eric J. Riedel, Bernstein Litowitz Berger & Grossmann LLP, New York, NY for plaintiff.
    for defendant: Rudolf Koch, Kevin M. Gallagher, Daniel E. Kaprow, John M. O’Toole, Richards, Layton & Finger, P.A., Wilmington, DE; Thomas Uebler, McCollom D’Emilio Smith Uebler LLC, Wilmington, DE; Jason Cyrulnik, Paul Fattaruso, Matthew Henken, Cyrulnik Fattaruso LLP, New York, NY for defendants.

    Case Number: 2017-0486-SG

    Court denied plaintiff representative's motion to shift legal fees and costs where the court only awarded nominal damages and thus the stockholder class received no meaningful benefit, and where plaintiff's counsel litigated the case under a contingency arrangement.

  • Floreani v. FloSports, Inc.

    Publication Date: 2024-11-12
    Practice Area: Corporate Governance
    Industry: E-Commerce | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Chancellor McCormick
    Attorneys: For plaintiff: John L. Reed, Peter H. Kyle, Daniel P. Klusman, DLA Piper LLP (US), Wilmington, DE for plaintiffs.
    for defendant: Scott James Leonhardt, The Rosner Law Group LLC, Wilmington, DE for defendant.

    Case Number: 2023-0684-LM

    Court dismissed books and records inspection requests for failures to comply with the form-and-manner requirements of §220.

  • Kingfishers L.P. v. Finesse US, Inc.

    Publication Date: 2024-11-12
    Practice Area: Securities Litigation
    Industry: Consumer Products | E-Commerce | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Benjamin P. Chapple, John T. Miraglia, Reed Smith LLP, Wilmington, DE for plaintiffs.
    for defendant: Sean M. Brennecke, Aimee M. Czachorowski, Lewis Brisbois Bisgaard & Smith, LLP, Wilmington, DE; Albert J. Carroll, Samuel E. Bashman, Morris James LLP, Wilmington, DE; Elisabeth A. Moriarty, Steven A. Stein, Eric M. Sefton, Greenberg Glusker Fields Claman & Machtinger LLP, Los Angeles, CA for defendant.

    Case Number: 2024-0344-SG

    Court declined to dismiss reformation claim based on theory of mistake where plaintiff adequately pled the terms of an agreement orally agreed to by the parties, such that a factfinder could infer that defendant either erroneously drafted a non-compliant written agreement, or intentionally or knowingly did so and stood by as plaintiff signed it.

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  • Jacobs v. Akademos, Inc.

    Publication Date: 2024-11-12
    Practice Area: Mergers and Acquisitions
    Industry: E-Commerce | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Elizabeth A. Sloan, Ballard Spahr LLP, Wilmington, DE; Jason C. Spiro, Thomas M. Kenny, Marissa DeAnna, Spiro, Harrison & Nelson, Montclair, NJ for plaintiffs.
    for defendant: Geoffrey G. Grivner, Kody M. Sparks, Buchanan Ingersoll & Rooney PC, Wilmington, DE; Geoffrey G. Grivner, Kody M. Sparks, Buchanan Ingersoll & Rooney PC, Wilmington, DE; Gavin J. Rooney, Lowenstein Sandler LLP, New York, NY for defendants.

    Case Number: 2021-0346-JTL

    Court rejected appraisal and breach of fiduciary duty claims where the record evidence demonstrated that plaintiff common stockholders' equity was worthless at the time of the merger as the company's investor's liquidation and redemption rights exceeded the company's reasonable value.

  • Advent Int'l, L.P. v. Servicios Funerarios GG S.A. de C.V.

    Publication Date: 2024-11-12
    Practice Area: Mergers and Acquisitions
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: William M. Lafferty, Kevin M. Coen, Alex F. Hoeschel, Morris Nichols Arsht & Tunnell LLP, Wilmington, DE; Peter L. Welsh, Daniel V. Ward, Ropes & Gray LLP, Boston, MA; Nicholas A. S. Hoy, Andrew J. Rossman, Quinn Emanuel Urquhart & Sullivan LLP, New York, NY; Joseph Margolies, Quinn Emanuel Urquhart & Sullivan LLP, Chicago, IL; Gabriel F. Soledad, Quinn Emanuel Urquhart & Sullivan LLP, Washington, D.C. for plaintiffs.
    for defendant: Peter J. Walsh, Jr., Aaron R. Sims, Charles R. Hallinan, Potter Anderson & Corroon LLP, Wilmington, DE; David Boies, Marc Ayala, Boies Schiller Flexner LLP, Armonk, NY; Carlos M. Sires, Boies Schiller Flexner LLP, Fort Lauderdale, FL for defendant.

    Case Number: 2023-0647-LWW

    Defendant breached guarantee agreement by filing suit against a non-party in violation of the release defendant agreed to, triggering the guarantee's termination provision.

  • Roberta Ann K.W. Wong Leung Revocable Trust v. Amazon.com, Inc.

    Publication Date: 2024-11-05
    Practice Area: Corporate Governance
    Industry: E-Commerce | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Samuel L. Closic, Seth T. Ford, Prickett, Jones & Elliott, P.A., Wilmington, DE; Brian J. Robbins, Stephen J. Oddo, Gregory E. Del Gaizo, Michael J. Nicoud, Eric M. Carrino, Robbins LLP, San Diego, CA; Daniel B. Rehns, Scott Jacobsen, Hach Rose Schirripa & Cheverie, New York, NY for plaintiff.
    for defendant: Garrett B. Moritz, Dylan T. Mockensturm, Benjamin M. Whitney, Ross Aronstam & Moritz LLP, Wilmington, DE; William Savitt, Anitha Reddy, Adam M. Gogolak, Alexis J. Abboud, Wachtell, Lipton, Rosen & Katz, New York, NY for defendant.

    Case Number: 2023-1251-BWD

    Court denied stockholder's books and records inspection request where it failed to specifically allege corporate wrongdoing and instead made vague and overbroad allegations of mismanagement.

  • Solak v. Mountain Crest Capital LLC

    Publication Date: 2024-11-05
    Practice Area: Corporate Governance
    Industry: Biotechnology | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Blake A. Bennett, Cooch and Taylor, P.A., Wilmington, DE; Jeffrey M. Norton, Benjamin D. Baker, Newman Ferrara LLP, New York, NY for plaintiff.
    for defendant: Andrew H. Sauder, Daniel S. Atlas, Dailey LLP, Wilmington, DE; Ryan J. Levan, Dailey LLP, Philadelphia, PA for defendants.

    Case Number: 2023-0469-SG

    Court applied entire fairness standard to fiduciary claims where defendants could control board through their personal/financial ties to directors and found complaint plausibly alleged that merger proxy omitted material information about share value.

  • Berger v. Graf Acquisition, LLC

    Publication Date: 2024-11-05
    Practice Area: Mergers and Acquisitions
    Industry: Investments and Investment Advisory | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Kimberly A. Evans, Lindsey K. Faccenda, Irene R. Lax, Robert Erikson, Block & Leviton LLP, Wilmington, DE for plaintiff.
    for defendant: S. Michael Sirkin, Benjamin M. Whitney, Ross Aronstam & Moritz LLP, Wilmington, DE for defendant.

    Case Number: 2023-0873-LWW

    Court denied plaintiff's motion to compel production of documents where plaintiff had made an overbroad request for documents, with the court instead allowing defendants to produce documents under technology assisted review.