• Kuramo Capital Mgmt., LLC v. Nile Capital Mgmt., LLC

    Publication Date: 2024-10-29
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Chancellor Molina
    Attorneys: For plaintiff: Bruce E. Jameson, J. Clayton Athey, John G. Day, Christine N. Chappelear, Prickett, Jones & Elliott, P.A., Wilmington, DE; Mary S. Thomas, Thomas Law LLC, Wilmington, DE for plaintiff.
    for defendant: Eric A. Veres, S. Michael Blochberger, Abrams & Bayliss LLP, Wilmington, DE for defendant.

    Case Number: 2024-0637-SEM

    Court denied production of records relating to litigation funding arrangements and retainer agreements where plaintiffs had potentially waived such a claim and had failed to show at trial that relevant records or information would be responsive to the request the court ultimately granted.

  • Cytotheryx, Inc. v. Castle Creek Biosciences, Inc.

    Publication Date: 2024-10-29
    Practice Area: Mergers and Acquisitions
    Industry: Biotechnology
    Court: Court of Chancery
    Judge: Chancellor Medinilla
    Attorneys: For plaintiff: Gary W. Lipkin, Michelle C. Streifthau-Livizos, Saul Ewing LLP, Wilmington, DE for plaintiff.
    for defendant: Adam V. Orlacchio, James G. Gorman III, Blank Rome LLP, Wilmington, DE for defendant.

    Case Number: 2023-1142-VLM

    Seller plausibly alleged claim of fraud where a promise to redeem preferred shares paid as consideration necessarily included promising to have the required third-party approvals to allow for the redemption.

  • Rostowsky v. Hirsch

    Publication Date: 2024-10-29
    Practice Area: Corporate Entities
    Industry: Health Care | Insurance
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Daniel C. Herr, Law Office of Daniel C. Herr LLC, Wilmington, DE; Barry F. Fagel, Lindhorst & Dreidame Co., L.P.A., Cincinnati, OH for plaintiff.
    for defendant: David B. Anthony, Berger McDermott LLP, Wilmington, DE; Brian Gottesman, Gabell Beaver LLC, Wilmington, DE; Alisa E. Moen, Moen Law LLC, Wilmington, DE for defendants.

    Case Number: 2022-0004-SG

    Facts demonstrated that plaintiff was entitled to ownership stake in business under promissory estoppel where defendants represented that plaintiff was a co-founder but failed to include him as a member in the LLC's formation documents.

  • Twitter, Inc. v. Musk

    Publication Date: 2024-10-22
    Practice Area: Corporate Entities
    Industry: E-Commerce
    Court: Court of Chancery
    Judge: Vice Chancellor McCormick
    Attorneys: For plaintiff: Catherine A. Gaul, Randall J. Teti, Ashby & Geddes, P.A., Wilmington, DE for plaintiff
    for defendant: Aaron Greenspan, PlainSite, San Francisco, CA.

    Case Number: 2022-0613-KSJM

    Court granted continued confidential treatment of docket entries in part where they concerned confidential corporate policies and procedures, but declined to grant such treatment to non-confidential or public information.

  • Chai v. Maginn

    Publication Date: 2024-10-15
    Practice Area: Corporate Governance
    Industry: Education | Investments and Investment Advisory | Software
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Neil R. Lapinski, Phillip A. Giordano, Madeline R. Silverman, Gordon, Fournaris & Mammarella, P.A., Wilmington, DE for plaintiff.
    for defendant: Thomas A. Uebler, Kathleen A. Murphy, Adam J. Waskie, Sarah P. Kaboly, Terisa A. Shoremount, McCollom D’Emilio Smith Uebler LLC, Wilmington, DE; Thad J. Bracegirdle, Sarah T. Andrade, Bayard, P.A., Wilmington, DE for defendants.

    Case Number: 2024-0393-LWW

    Stockholder/director's claims for breach of stockholders' agreement were barred by res judicata, laches, and acquiescence where director served alongside other directors without objection and could have asserted her present claims in a prior action against the other directors.

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  • In re: TransUnion Derivative Stockholder Litig.

    Publication Date: 2024-10-15
    Practice Area: Corporate Governance
    Industry: Financial Services and Banking | Federal Government
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Samuel L. Closic, John G. Day, Seth T. Ford, Prickett, Jones & Elliott, P.A., Wilmington, DE; Laurence Paskowitz, The Paskowitz Law Firm P.C., Rego Park, NY; Emily Komlossy, Komlossy Law, P.A., Hollywood, FL; Frederic S. Fox, Kaplan Fox & Kilsheimer LLP, New York, NY; Matthew M. Houston, Glancy Prongay & Murray LLP, New York, NY; D. Seamus Kaskela, Adrienne Bell, Kaskela Law LLC, Newtown Square, PA; Alfred G. Yates, Law Office of Alfred G. Yates, Jr., P.C., Pittsburgh, PA for plaintiffs.
    for defendant: Kevin M. Gallagher, Spencer V. Crawford, Richards, Layton & Finger, P.A., Wilmington, DE; Sandra C. Goldstein, Victoria J. Ryan, Mike Rusie, Kirkland & Ellis LLP, New York, NY for defendants.

    Case Number: 2022-1103-LWW

    Court dismissed derivative complaint for lack of demand futility where board's minor disagreements with regulators over the terms of a consent order did not rise to a willful disregard of the law or failure of oversight to constitute a breach of the duty of loyalty.

  • In re Match Group, Inc. Derivative Litig.

    Publication Date: 2024-10-15
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Zurn
    Attorneys: For plaintiff: Michael Hanrahan, Prickett, Jones & Elliott, P.A., Wilmington, DE; Blake Rohrbacher, Richards, Layton & Finger, P.A., Wilmington, DE for plaintiffs.
    for defendant: David E. Ross, Ross Aronstam & Moritz LLP, Wilmington, DE; William M. Lafferty, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE for defendants.

    Case Number: 2020-0505-MTZ

    Stockholders could not bring fiduciary claims against purported controller of company's parent corporation without presenting evidence of controller's hard control over the parent's voting power or an exercise of actual control over the company.

  • Allstate Ins. Co. v. New Jersey Mfrs. Ins. Co.

    Publication Date: 2024-10-15
    Practice Area: Insurance Law
    Industry: Insurance
    Court: Court of Chancery
    Judge: Chancellor Jones
    Attorneys: For plaintiff: Arthur D. Kuhl, Martin D. Page, Reger, Rizzo & Darnall, LLP, Wilmington, DE for petitioner.
    for defendant: Nicholas E. Skiles, Brian P. Smith, Swartz, Campbell, LLC, Wilmington, DE for respondent.

    Case Number: 2023-0847 FJJ

    Insurer could not pursue statutory intercompany arbitration for PIP benefits issued under an out-of-state insurance policy covering a vehicle registered in another state.

  • Mehra v. Teller

    Publication Date: 2024-10-08
    Practice Area: Corporate Entities
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Chancellor McCormick
    Attorneys: For plaintiff: John L. Reed, Peter H. Kyle, Kelly L. Freund, Daniel P. Klusman, DLA Piper LLP (US), Wilmington, DE; Patrick J. Smith, Brian T. Burns, Michael K. Sala, Clark Smith Villazor LLP, New York, NY for plaintiffs.
    for defendant: Jon E. Abramczyk, D. McKinley Measley, Elizabeth A. Mullin Stoffer, Kirk C. Andersen, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE for defendants.

    Case Number: 2019-0812-KSJM

    Court found that equal sharing provision in parties' LLC agreement had been triggered entitling plaintiff to equal distributions at the subsidiary level by transferring his economic rights to the subsidiary following the holding company's dissolution.

  • Roth v. Sotera Health Co.

    Publication Date: 2024-10-08
    Practice Area: Employment Litigation
    Industry: Health Care | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: John M. Seaman, G. Mason Thomson, Abrams & Bayliss LLP, Wilmington, DE; Ryan Q. Keech, K&L Gates LLP, Los Angeles, CA; Matthew B. Goeller, K&L Gates LLP, Wilmington, DE; Carl Alan Roth, Roth Ames LLP, La Habra, CA for plaintiff.
    for defendant: John P. DiTomo, Lauren K. Neal, Courtney Kurz, Taylor A. Christensen, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE for defendant.

    Case Number: 2022-1192-LWW

    Court ruled that company's former LLP agreement's vesting and forfeiture terms for partnership units could be incorporated into restricted stock agreement following company's corporate conversion and exchange of employee's units for restricted stock.