• Burkhart v. Genworth Fin., Inc.

    Publication Date: 2020-02-19
    Practice Area: Business Torts
    Industry: Insurance
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Peter B. Andrews, Craig J. Springer, and David M. Sborz, Andrews & Springer LLC, Wilmington, DE; Edward F. Haber, Thomas V. Urmy, Jr., Patrick J. Vallely, and Michelle H. Blauner, Shapiro Haber & Urmy LLP, Boston, MA for plaintiffs.
    for defendant: Daniel A. Dreisbach, Srinivas M. Raju, Susan M. Hannigan, Sarah A. Clark, and Angela Lam, Richards, Layton & Finger, P.A., Wilmington, DE; Reid L. Ashinoff and Gary Meyerhoff, Dentons US LLP, New York, NY for defendants.

    Case Number: D68878

    Plaintiffs entitled to insurance benefits or sales commissions had standing to bring a Delaware Uniform Fraudulent Transfer Act claim where they could seek to reverse transfers that allegedly posed "material risk of harm" to their payments before the transfers resulted in dissipation of the assets.

  • Dahle v. Pope

    Publication Date: 2020-02-19
    Practice Area: Corporate Governance
    Industry: Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Blake A. Bennett, Cooch and Taylor, P.A., Wilmington, DE; Jeffrey M. Norton, Newman Ferrara LLP, New York, NY; Werner R. Kranenburg, Krankenburg, London, UK for plaintiffs.
    for defendant: Edward B. Micheletti, Lilianna Anh P. Townsend, and Mary T. Reale, Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington, Delaware for defendants.

    Case Number: D68879

    Plaintiffs' pre-suit communication to board constituted a Rule 23.1 demand where it asserted the need to take remedial action on a board decision, noted the company's susceptibility to shareholder action, and warned that plaintiffs would take advantage of shareholder remedies if no action were taken by the board.

  • In re: Appraisal of Panera Bread Co.

    Publication Date: 2020-02-19
    Practice Area: Mergers and Acquisitions
    Industry: Food and Beverage
    Court: Court of Chancery
    Judge: Vice Chancellor Zurn
    Attorneys: For plaintiff: Samuel T. Hirzel, II, Elizabeth A. DeFelice and Melissa N. Donimirski, Heyman Ererio Gattuso & Hirzel LLP, Wilmington, DE; Steven M. Hecht, Michael T.G. Long, Jarett N. Sena, Natalie F. Dallavalle, Frank T.M. Catalina, Edoardo Murillo and Jonathan M. Kass, Lowenstein Sandler LLP, New York, NY for peti-tioners.
    for defendant: Paul J. Lockwood, Jennifer C. Voss, Jenness E. Parker, Alyssa S. O’Connell, Kaitlin E. Maloney, Daniel S. Atlas, Bonnie W. David and Andrew D. Kinsey, Skadden Arps Slate Meagher & Flom LLP, Wilming-ton, DE for respondent.

    Case Number: D68882

    In this statutory appraisal action, the court determined that the process by which the company was sold bore multiple indicia of reliability, and the deal price was persuasive evidence of fair value.

  • In re: Tesla Motors, Inc. Stockholder Litig.

    Publication Date: 2020-02-19
    Practice Area: Corporate Governance
    Industry: Automotive
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Jay W. Eisenhofer, Christine M. Mackintosh, Kelly L. Tucker, Vivek Upadhya and Daniel L. Berger, Grant & Eisenhofer, Wilmington, DE and New York, NY; Lee D. Rudy, Eric L. Zagar, Robin Winchester and Justin O. Reliford, Kessler Topaz Meltzer & Check, LLP, Radnor, PA; Randall J. Baron, David T. Wissbroecker and Maxwell R. Huffman, Robbins Geller Rudman & Dowd LLP, San Diego, CA for co-lead plaintiffs.
    for defendant: David E. Ross, Garrett B. Moritz and Benjamin Z. Grossberg, Ross Aronstam & Moritz LLP, Wilmington, DE; Evan R. Chesler, Daniel Slifkin, Vanessa A. Lavely and Helam Gebremariam, Cravath, Swaine & Moore LLP, New York, NY for director defendants.

    Case Number: D68883

    Genuine issues of material fact precluded summary judgment regarding questions of shareholder ratification of a merger, the existence of a conflicted controller and corporate waste.

  • Hurd v. Hurd

    Publication Date: 2020-02-19
    Practice Area: Trusts and Estates
    Industry:
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: John V. Work, John Work Law, Wilmington, DE for plaintiff.
    for defendant: Jackson Shrum, Jack Shrum, P.A., Wilmington, DE for defendant. Harold W.T. Purnell, II, Sergovic Car-mean Weidman McCartney & Owens P.A., Georgetown, DE for intervenor. David J. Ferry, Jr. and Brian J. Ferry, Ferry Joseph, P.A., Wilmington, DE for receiver.

    Case Number: D68881

    A conflict existed between a settlor's primary purpose to benefit his surviving spouse and the settlor's wishes regarding the appointment of a trustee.

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  • Ogus v. SportTechie, Inc.

    Publication Date: 2020-02-19
    Practice Area: Corporate Governance
    Industry: Technology Media and Telecom
    Court: Court of Chancery
    Judge: Chancellor Bouchard
    Attorneys: For plaintiff: T. Brad Davey and Matthew A. Golden, Potter Anderson & Corroon LLP, Wilmington, DE; Gregory A. Markel and Tonya M. Esposito, Seyfarth Shaw LLP, New York, NY and Washington, DC for plaintiff.
    for defendant: Art C. Aramilla, Marshall Dennehey Warner Coleman & Goggin, P.C., Wilmington, DE for defendants Bloom, Bodie and Kaufman. Brian M. Rostocki, Benjamin P. Chapple, Justin M. Forcier and Michael S. Leib, Reed Smith LLP, Wilmington, DE and Chicago, IL for defendants SportTechie, Inc. and Oak View Group, LLC.

    Case Number: D68885

    Plaintiff adequately stated claims for fraud, breach of fiduciary duty and breach of contract after he was forced out of a company, but the court dismissed some of his aiding and abetting claims.

  • MKE Holdings Ltd. v. Schwartz

    Publication Date: 2020-02-12
    Practice Area: Corporate Governance
    Industry: Agriculture | Manufacturing
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Thomas E. Hanson, Jr., Barnes & Thornburg LLP, Wilmington, DE for plaintiffs.
    for defendant: Blake Rohrbacher, Richards, Layton & Finger, P.A., Wilmington, DE; John F. Hartmann and Abdus Samad Pardesi, Kirkland & Ellis LLP, Chicago, IL for defendants and nominal defendant.

    Case Number: D68875

    Limited liability company members alleged sufficient facts to support their claims against defendant managers for breaches of the operating agreement and fraud.

  • Lyons Ins. Agency, Inc. v. Wark

    Publication Date: 2020-02-12
    Practice Area: Employment Litigation
    Industry: Insurance
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: James S. Green, Sr. and Jared T. Green, Seitz, Van Ogtrop & Green, P.A., Wilmington, DE for plaintiff.
    for defendant: John A. Sensing and Jesse L. Noa, Potter Anderson & Corroon LLP, Wilmington, DE for defendants.

    Case Number: D68874

    The parties' non-compete agreement was presumptively valid, but the liquidated damages provision was unenforceable under the facts of this case as a matter of public policy. Because the former employee did not solicit business from the clients of her for-mer employer, the liquidated damages provision amounted to a penalty.

  • Borealis Power Holdings Inc. v. Hunt Strategic Util. Inv., LLC

    Publication Date: 2020-02-05
    Practice Area: Corporate Entities
    Industry: Energy
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: William M. Lafferty, Thomas W. Briggs, Jr., Daniel T. Menken, and Aubrey J. Morin, Morris Nichols Arsht & Tunnell LLP, Wilmington, DE; Richard I. Werder, Jr., Renita N. Sharma, Elisabeth B. Miller, and Ryan A. Rakower, Quinn Emanuel Urquhart & Sullivan, LLP, New York, NY for plaintiffs and defendants Borealis Power Holdings Inc. and BPC Health Corporation.
    for defendant: Blake Rohrbacher, Brian S. Yu, and Kevin M. Regan, Richards, Layton & Finger P.A., Wilmington, DE; Neil A. Steiner, Dechert LLP, New York, NY for plaintiff intervenors Cheyne Walk Investments. David C. McBride, Martin S. Lessner, Ryan M. Bartley, and Paul J. Loughman, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; J. Christopher Shore and Alive Tsier, White & Case LLP, New York, NY; Aaron Colodny, White & Case LLP, Los Angeles, CA, attorneys for plaintiff intervenors and defendants Sempra Texas Holdings Corp and Sempra Texas Intermediate Holding Co. Peter J. Walsh, Jr., J. Matthew Belger, and Andrew H. Sauder, Potter Anderson & Corroon LLP, Wilmington, DE; Jessica B. Pulliam, Baker Botts LLP, Dallas, TX; Vernon Cassin, Baker Botts LLP, Washington, DC; P. Clarkson Collins, Jr., Ian D. McCauley, and Kathleen A. Murphy, Morris James LLP, Wilmington, DE, attorneys for defendant Hunt Strategic Utility Investment.

    Case Number: D68862

    One party had superior right of first refusal for purchase of offered shares where the parties' shareholders agreement provided that any sale could not violate an investor rights agreement, which granted the party with the superior right its right of first refusal.

  • Alliance Compressors LLC v. Lennox Indus. Inc.

    Publication Date: 2020-01-22
    Practice Area: Contracts
    Industry: Manufacturing
    Court: Court of Chancery
    Judge: Vice Chancellor McCormick
    Attorneys: For plaintiff: Jon E. Abramczyk, D. McKinley Measley, Alexandra M. Cumings, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; James F. Bennett, John D. Comerford, Dowd Bennett LLP, St. Louis, MO for plaintiff.
    for defendant: Richard P. Rollo, Travis S. Hunter, Alexandra M. Ewing, Richards, Layton & Finger, P.A., Wilmington, DE; Eric B. Halper, Virginia I. Weber, McKool Smith P.C., New York, NY for defendant.

    Case Number: D68846

    Court lacked subject matter jurisdiction over plaintiff's contract claim where plaintiff had an adequate remedy at law in the form of monetary damages to compensate plaintiff for defendants' past breaches and in the form of a declaratory judgment establishing defendants' contractual purchase obligations.