Publication Date: 2018-07-11
Practice Area: Corporate Governance | Mergers and Acquisitions
Industry: Technology Media and Telecom
Court: Court of Chancery
Judge: Vice Chancellor Glasscock
Attorneys: For plaintiff: Ned Weinberger and Thomas Curry, Labaton Sucharow LLP, Wilmington, DE; March Lebovitch, Edward Timlin, John Vielandi, and David MacIsaac, Bernstein Litowitz Berger & Grossman LLP, New York, NY; Vincent R. Cappucci and Joshua K. Porter, Entwistle & Cappucci LLP, New York, NY, attorneys for plaintiffs
for defendant: Rudolf Koch, Kevin M. Gallagher, Sarah A. Clark, and Anthony M. Calvano, Richards, Layton & Finger, P.A., Wilmington, DE; William Ohlemeyer, Edward Normand, and Jason Cyrulnik, Boies Schiller Flexner LLP, Armonk, NY; Kevin G. Abrams, Michael A. Barlow, and April M. Kirby, Abrams & Bayliss, Wilmington, DE; Greg A. Danilow, Seth Goodchild, and Thomas G. James, Weil, Gotshal & Manges LLP, New York, NY, attorneys for defendants.
Case Number: D68207
Claim that controlling stockholder improperly used influence to acquire company asset in exchange for approving sale of the company was a direct claim that could be brought by stockholders since they would have received consideration for the asset but for the controller's conduct.