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  • August v. The Glade Prop. Owners Ass'n, Inc.

    Publication Date: 2024-10-01
    Practice Area: Real Estate
    Industry: Real Estate
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Jennifer August, Rehoboth Beach, DE, pro se plaintiff.
    for defendant: Aaron E. Moore, Wilmington, DE for defendants.
    Case Number: 2020-0834-BWD

    Court denied homeowner's claims against homeowners' association where there were no conflicted fiduciaries that warranted applying the entire fairness standard to the claims.

  • ARC Global Inv., II, LLC v. Digital World Acquisition Corp.

    Publication Date: 2024-10-01
    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: Matthew D. Perri, Daniel E. Kaprow, Elizabeth J. Freud, Alfred P. Dillione, Rae Ra, Richards, Layton & Finger, P.A., Wilmington, DE for plaintiff.
    for defendant: Kevin M. Coen, Jacob M. Perrone, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Bradley J. Bondi, D. Scott Carlton, Traci Zeller, Nicholas J. Griepsma, Paul Hastings LLP, Washington, D.C. for defendant.
    Case Number: 2024-0186-LWW

    Court recalculated conversion ratio following business combination where inclusion of issued shares regardless of the circumstances of issuance was consistent with the anti-dilutive purpose of the conversion.

  • Paragon Tech., Inc. v. Ocean Power Tech., Inc.

    Publication Date: 2024-10-01
    Practice Area: Corporate Governance
    Industry: Defense | Electronics | Energy
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Evan O. Williford, The Williford Firm LLC, Wilmington, DE for plaintiff.
    for defendant: Tyler J. Leavengood, Christopher N. Kelly, Callen R. Jackson, Christopher D. Renaud, Ryan M. Ellingson, Potter Anderson & Corroon LLP, Wilmington, DE for defendants.
    Case Number: 2024-0386-LWW

    Early stage of litigation and lack of improper motive weighed in favor of granting petitioner's motion to dismiss the action without prejudice.

  • Kuramo Capital Mgmt., LLC v. Seruma

    Publication Date: 2024-09-24
    Practice Area: Contracts
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Chancellor McCormick
    Attorneys: For plaintiff: Bruce E. Jameson, J. Clayton Athey, John G. Day, Mary S. Thomas, Christine N. Chappelear, Prickett, Jones & Elliott, P.A., Wilmington, DE for plaintiffs.
    for defendant: Eric A. Veres, Abrams & Bayliss LLP, Wilmington, DE for defendants.
    Case Number: 2021-0323-KSJM

    Although equities could support granting LLC member an in-kind redemption, it failed to explain why court should ignore the plain language of the LLC agreement which stated that members had no interest in specific company property.

  • Bandera Master Fund LP v. Boardwalk Pipeline Partners, LP

    Publication Date: 2024-09-24
    Practice Area: Corporate Governance
    Industry: Energy | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: A. Thompson Bayliss, J. Peter Shindel, Jr., Daniel G. Paterno, Eric A. Veres, Samuel D. Cordle, Abrams & Bayliss LLP, Wilmington, DE for plaintiffs.
    for defendant: Srinivas M. Raju, Blake Rohrbacher, Matthew D. Perri, John M. O’Toole, Richards, Layton & Finger, P.A., Wilmington, DE; Rolin P. Bissell, James M. Yoch, Jr., Young Conaway Stargatt & Taylor LLP, Wilmington, DE; Daniel A. Mason, Paul, Weiss, Rifkind, Wharton & Garrison LLP, Wilmington, DE; Stephen P. Lamb, Andrew G. Gordon, Harris Fischman, Robert N. Kravitz, Carter E. Greenbaum, Paul, Weiss, Rifkind, Wharton & Garrison LLP, New York, NY; William Savitt, Sarah K. Eddy, Adam M. Gogolak, Wachtell, Lipton, Rosen & Katz, New York, NY for defendants.
    Case Number: 2018-0372-JTL

    Former limited partners' alternative theories of recovery against general partner in breach of partnership agreement action failed where Delaware Supreme Court had found general partner's reliance on outside counsel's opinion was entitled to conclusive presumption of good faith.

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    Chester County Court Rules 2024

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  • New Start Holdings, LLC v. Zhou

    Publication Date: 2024-09-17
    Practice Area: Deals and Transactions
    Industry: Real Estate
    Court: Court of Chancery
    Judge: Vice Chancellor Zurn
    Attorneys: For plaintiff: John L. Williams, Brian C. Crawford, The Williams Law Firm, P.A., Wilmington, DE for plaintiffs.
    for defendant: Zi Jun Zhou and Marvin Daniels, pro se defendants.
    Case Number: 2019-0831-MTZ

    Court denied plaintiffs' claim for specific performance to enforce real estate sales contracts where court found that plaintiffs' claims were based on knowingly false allegations.

  • In the Matter of: Estate of Mergenthaler

    Publication Date: 2024-09-17
    Practice Area: Trusts and Estates
    Industry:
    Court: Court of Chancery
    Judge: Vice Chancellor Zurn
    Attorneys: For plaintiff: Jason C. Powell, The Powell Firm, LLC, Wilmington, DE; John S. Malik, John S. Malik Law Office, Wilmington, DE for plaintiffs.
    for defendant: John A. Sergovic, Jr., Sergovic Carmean Weidman McCartney & Owens, P.A., Georgetown, DE; Thomas A. Uebler, McCollom D’Emilio Smith Uebler LLC Wilmington, DE for defendant.
    Case Number: 2020-0804-MTZ

    Court could exercise personal jurisdiction over out-of-state defendant where petition sufficiently alleged that defendant engaged in tortious actions within Delaware.

  • In re Sculptor Capital Mgmt. Inc. Stockholder Litig.

    Publication Date: 2024-09-17
    Practice Area: Mergers and Acquisitions
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Ned Weinberger, Michael C. Wagner, Labaton Keller Sucharow LLP, Wilmington, DE; Thomas Curry, Saxena White P.A., Wilmington, DE; Joseph L. Christensen, Meghan D. Dougherty, Christensen & Dougherty LLP, Wilmington, DE; A. Thompson Bayliss, Christopher F. Cannataro, Florentina D. Field, Abrams & Bayliss LLP, Wilmington, DE for plaintiff.
    for defendant: Edward B. Micheletti, Arthur R. Bookout, Matthew P. Majarian, Peyton V. Carper, Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington, DE; Brock E. Czeschin, Matthew D. Perri, Kevin M. Kidwell, Mari Boyle, Richards, Layton & Finger, P.A., Wilmington, DE; David E. Ross, Roger S. Stronach, Ross Aronstam & Moritz LLP, Wilmington, DE for defendants.
    Case Number: 2023-0921-SG

    Court calculated legal fee award based on the portion of the transaction price increase that was generated by plaintiff's litigation and the stage of the litigation when the increase was obtained.

  • Shareholder Representative Serv. LLC v. Alexion Pharm., Inc.

    Publication Date: 2024-09-17
    Practice Area: Mergers and Acquisitions
    Industry: Investments and Investment Advisory | Pharmaceuticals
    Court: Court of Chancery
    Judge: Vice Chancellor Zurn
    Attorneys: For plaintiff: Michael A. Barlow, Quinn Emanuel Urquhart & Sullivan, LLP, Wilmington, DE; Andrew M. Berdon, Angus Chen, Alexandria Deep Conroy, Courtney C. Whang, Quinn Emanuel Urquhart & Sullivan, LLP, New York, NY; Joseph M. Paunovich, David M. Elihu, James Bieber, Andrew Brayton, Quinn Emanuel Urquhart & Sullivan, LLP, Los Angeles, CA for plaintiff.
    for defendant: David E. Wilks, Scott B. Czerwonka, Wilks Law, LLC, Wilmington, DE; Deborah E. Fishman, Carson D. Anderson, Arnold & Porter Kaye Scholer LLP, Palo Alto, CA; Daniel L. Reisner, Jeffrey A. Fuisz, Angela R. Vicari, Matthew M. Wilk, Arnold & Porter Kaye Scholer LLP, New York, NY; Howard Sklamberg, Jeremy Cobb, Arnold & Porter Kaye Scholer LLP, Washington, DC for defendant.
    Case Number: 2020-1069-MTZ

    Deprioritizing and terminating drug development project fell short of commercially reasonable efforts when other companies progressed with developing competing therapies and caused the failure to meet milestones, in breach of the merger agreement.

  • Campus Eye Mgmt. Holdings, LLC v. DiDonato

    Publication Date: 2024-09-17
    Practice Area: Corporate Governance
    Industry: Health Care | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: David J. Margules, Elizabeth A. Sloan, Steven L. Becton, II, Ballard Spahr LLP, Wilmington, DE for plaintiff.
    for defendant: Mary F. Dugan, Emily V. Burton, Tanner C. Jameson, Alan C. Cardenas-Moreno, Young Conaway Stargatt & Taylor LLP, Wilmington, DE for defendant.
    Case Number: 2024-0121-LWW

    Court upheld transaction involving merger of operating subsidiary and amendment of its LLC agreement to remove manager, where the relevant LLC agreements and the LLC Act authorized the actions taken to facilitate the transaction.