• In re Oracle Corp. Derivative Litig.

    Publication Date: 2019-12-18
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Software | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Joel Friedlander, Jeffrey M. Gorris and Christopher P. Quinn, Friedlander & Gorris, P.A., Wilmington, DE; Randal J. Baron, David A. Knotts and Christopher H. Lyons, Robbins Geller Rudman & Down LLP, San Diego, CA and Nashville, TN; Brian J. Robbins, Stephen J. Oddo and Gregory Del Gaizo, Robbins LLP, San Diego, CA for lead plaintiff.
    for defendant: Elena C. Norman, Richard J. Thomas, Benjamin M. Potts, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; Peter A. Wald, Blair Connelly and Rachel J. Rodriguez, Latham & Watkins LLP, San Francisco, CA and New York, NY for defendants Ellison and Catz. Kenneth J. Nachbar, John P. DiTomo, Thomas P. Will and Corinne R. Moini, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Sara B. Brody, Jaime A. Bartlett and Matthew J. Dolan, Sidley Austin LLP, San Francisco, CA and Palo Alto, CA for defendants Hurd Estate, Henley, Conrades, James, Panetta, Boskin, Berg, Garcia-Molina, Seligman, Chizen and Bingham. A. Thompson Bayliss and E. Wade Houston, Abrams & Bayliss LLP, Wilmington, DE; John W. Spiegel, George M. Garvey and John M. Gildersleeve, Munger, Tolles & Olson LLP, Los Angeles, CA for defendant Goldberg. Andrew S. Dupre, McCarter & English, LLP, Wilmington, DE; Robert P. Feldman and Christopher D. Kercher, Quinn Emanuel Urquhart & Sulli-van LLP, Redwood Shores, CA and New York, NY for defendant Nelson. Thomas A. Beck, Blake Rohrbacher, Susan M. Han-nigan, Matthew D. Perri and Daniel E. Kaprow, Richards, Layton & Finger, P.A., Wilmington, DE for nominal defendant Ora-cle Corp.

    Case Number: D68809

    Where a special litigation committee concluded that a litigation asset should be turned over to the lead plaintiff to pursue a derivative action on behalf of the corporation, plaintiff was entitled to all relevant documents considered by the committee.

  • AlixPartners, LLP v. Mori

    Publication Date: 2019-12-11
    Practice Area: Labor Law
    Industry: Consulting
    Court: Court of Chancery
    Judge: Vice Chancellor McCormick
    Attorneys: For plaintiff: Bradley R. Aronstam and Eric D. Selden, Ross Aronstam & Moritz LLP, Wilmington, DE; Nicholas J. Pappas, Robert S. Berezin, and Justin Michael DiGennaro, Weil Gotshal & Manges LLP, New York, NY for plaintiffs.
    for defendant: John A. Sensing, Clarissa R. Chenoweth, and Jesse L. Noa, Potter Anderson & Corroon, LLP, Wilmington, DE for defendant.

    Case Number: D68800

    Court was not divested of subject matter jurisdiction under foreign law and regulation where plaintiffs' rights and remedies did not arise out of and were not inseparably related to foreign statutory law as to warrant their exclusive enforcement in a foreign tribunal.

  • Southeastern Pennsylvania Transp. Auth. v. Facebook, Inc.

    Publication Date: 2019-11-20
    Practice Area: Corporate Governance
    Industry: E-Commerce | State and Local Government
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Robert J. Kriner, Jr., Scott M. Tucker, Tiffany J. Cramer and Vera G. Belger, Chimicles Schwartz Kriner & Donaldson-Smith LLP, Wilmington, DE for plaintiffs.
    for defendant: David E. Ross and R. Garrett Rice, Ross Aronstam & Moritz LLP, Wilmington, DE for defendant.

    Case Number: D68777

    Plaintiffs were not entitled to corporate books and records because they failed to demonstrate a credible basis to infer corporate wrongdoing.

  • Fortis Advisors LLC v. Allergan W.C. Holding Inc.

    Publication Date: 2019-11-13
    Practice Area: Mergers and Acquisitions
    Industry: Health Care
    Court: Court of Chancery
    Judge: Vice Chancellor Zurn
    Attorneys: For plaintiff: Bradley R. Aronstam and Roger S. Stronach, Ross Aronstam & Moritz LLP, Wilmington, DE; Martin S. Schenker, Matthew D. Caplan and Kristine A. Forderer, Cooley LLP, San Francisco, CA; Michael A. Barlow and Daniel J. McBride, Abrams & Bay-liss LLP, Wilmington, DE
    for defendant: David W. Haller of Covington & Burling LLP, New York, NY for defendant.

    Case Number: D68769

    Plaintiff adequately stated a claim for breach of a merger agreement based on defendant's failure to make a milestone pay-ment and to use commercially reasonable efforts to obtain approval for a medical device.

  • Dieckman v. Regency GP LP

    Publication Date: 2019-11-13
    Practice Area: Corporate Entities
    Industry: Energy
    Court: Court of Chancery
    Judge: Chancellor Bouchard
    Attorneys: For plaintiff: Christine M. Mackintosh, Grant & Eisenhofer P.A., Wilmington, DE; Gregory V. Varallo, Bernstein Litowitz Berger & Grossman, LLP, Wilmington, DE; Jeroen van Kwawegen, Edward G. Timlin, and Tamara Gavrilova, Bernstein Litowitz Berger & Grossman LLP, New York, NY for plaintiff.
    for defendant: P. Bissell, Tammy L. Mercer, and Benjamin M. Potts, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; Michael C. Holmes, Craig E. Zieminski, Kimberly R. McCoy, and Jeffrey Crough, Vinson & Elkins LLP, Dallas, TX for defendants.

    Case Number: D68767

    Conflicted merger transaction was not entitled to safe harbor protection under one party's limited partnership agreement where one member of the party's conflicts committee was not an independent director and where the false representation of the conflicts committee's independence rendered the proxy statement provided to common unitholders false and misleading.

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  • Carr v. Global Payments Inc.

    Publication Date: 2019-11-13
    Practice Area: Corporate Governance
    Industry: E-Commerce | Retail | Software
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: A. Thompson Bayliss and Adam K. Schulman, Abrams & Bayliss LLP, Wilmington, DE; Peter L. Welsh and Paul S. Kellogg, Ropes & Gray LLP, Boston, MA for plaintiff.
    for defendant: T. Brad Davey and Andrew H. Sauder, Potter Anderson & Corroon LLP, Wilmington, DE; Steven J. Rosenwasser and Fredric J. Bold, Jr., Bondurant Mixson & Elmore LLP, Atlanta, GA for defendants.

    Case Number: D68766

    Advancement mooted where former employer amended underlying breach of employment agreement claim to remove all allegations of misconduct arising from former employee's corporate role or powers.

  • Solak v. Welch

    Publication Date: 2019-11-13
    Practice Area: Corporate Governance
    Industry: Pharmaceuticals
    Court: Court of Chancery
    Judge: Vice Chancellor McCormick
    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, London, United Kingdom for plaintiff.
    for defendant: Edward B. Micheletti, Lilianna Anh P. Townsend and Mary T. Reale, Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington, DE for defendants.

    Case Number: D68773

    A stockholder who made a pre-suit demand on the board could not allege that demand would have been futile in a subsequent complaint concerning the subject matter of the demand.

  • In re LendingClub Corp. Derivative Litig.

    Publication Date: 2019-11-13
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor McCormick
    Attorneys: For plaintiff: Seth D. Rigrodsky, Brian D. Long and Gina M. Serra, Rigrodsky &7 Long, P.A., Wilmington, DE; Robert I. Harwood and Matthew M. Houston, Harwood Feffer LLP, New York, NY; Brett D. Stecker and James M. Ficaro, The Weiser Law Firm, P.C., Berwyn, PA for lead plaintiffs.
    for defendant: Raymond J. Dicamillo and Eliezer Y. Feinstein, Richards, Layton & Finger, P.A., Wilmington, DE; Adam S. Paris, Sullivan & Cromwell LLP, Los Angeles, CA for defendants Morris, Ciporin, Crowe, Meeker, Sanborn, Summers and Williams. Raymond J. DiCamillo, Eliezer Y. Feinstein, Richards, Layton & Finger, P.A., Wilmington, DE; Jonathan D. Polkes, Weil, Gotshal & Manges LLP, New York, NY for defendant Mack. Myron T. Steele, T. Brad Davey and Callan R. Jackson, Potter Anderson & Corroon LLP, Wilmington, DE; Robert J. Liubicic, Scott A. Edelman, Adam Fee and Andrew Lichtenberg, Milbank LLP, Los Angeles, CA and New York, NY for defendant Laplanche. Jody C. Barillare, Charlene S. Shimada, Susan D. Resley, Lucy Wang and Marc J. Sonnenfeld, Morgan, Lewis & Bockius LLP, Wilmington, DE, San Francisco, CA and Philadelphia, PA for defend-ant Dolan. William M. Lafferty, Susan W. Waesco and Sabrina M. Hendershot, Morris, Nichols, Arsht & Tunnell LLP, Wil-mington, DE; Diane M. Doolittle, David M. Grable, Jospeh C. Sarles, Jordan E. Alexander and John Potter, Quinn Emanuel Urquhart & Sullivan LLP, Redwood Shores, CA, Los Angeles, CA and San Francisco, CA for nominal defendant LendingClub Corp.

    Case Number: D68771

    Stockholders in this derivative suit failed to establish that a majority of the demand board faced a substantial likelihood of personal liability.

  • Donnelly v. Keryx Biopharmaceuticals, Inc.

    Publication Date: 2019-11-06
    Practice Area: Corporate Entities
    Industry: Pharmaceuticals
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Peter B. Andrews, Craig J. Springer, and David M. Sborz, Andrews & Springer LLC, Wilmington DE; Randall J. Baron, David. T. Wissbroecker, Christopher H. Lyons, Robbins Geller Rudman & Dowd LLP, San Diego, CA and Nashville, TN for plaintiff.
    for defendant: David E. Ross and S. Michael Sirkin, Ross Aronstam & Moritz LLP, Wilmington, DE; Peter L. Welsh, Christian Reigstad, and Mary Zhou, Ropes & Gray LLP, New York NY for defendant.

    Case Number: D68759

    Stockholder demonstrated entitlement to a Section 220 inspection by alleging facts sufficient to raise an inference that company used their control position to extract a unique benefit from the merger to support stockholder's claim of breach of fiduciary duties.

  • PWP Xerion Holdings III LLC v. Red Leaf Resources, LLC

    Publication Date: 2019-11-06
    Practice Area: Corporate Governance
    Industry: Energy | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: S. Michael Sirkin, Benjamin Z. Grossberg and R. Garret Rice, Ross Aronstam & Moritz LLP, Wilmington, DE; Jonathan D. Schiller, Christopher D. Belelieu, Karen A. Chesley and Gary R. Studen of Boies Schiller Flexner LLP, New York, NY for plaintiff.
    for defendant: Michael A. Pittenger, Timothy R. Dudderar, Mathew A. Golden and David M. Hahn, Potter Anderson & Corroon LLP, Wil-mington, DE; Kenneth B. Black, Lauiren A. Shurman and Wesley F. Harward of Stoel Rives LLP, Salt Lake City, UT for de-fendant.

    Case Number: D68764

    Company breached a preferred stockholder's rights by changing its business plan and entering into a settlement with an inter-ested party without first obtaining the necessary consent from the preferred stockholder.