• In re: Nat'l Collegiate Student Loan Trusts Litig.

    Publication Date: 2020-07-29
    Practice Area: Business Torts
    Industry: Financial Services and Banking
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Kimberly A. Evans and Charles T. Caliendo, Grant & Eisenhofer P.A., Wilmington, DE and New York, NY for plaintiffs.
    for defendant: Jamie L. Edmonson, Daniel A. O’Brien, Allyson B. Baker, Meredith L. Boylan, Sameer P. Sheikh and Tiffany C. Williams, Venable LLP, Wilmington, DE and Washington, DC for defendant.

    Case Number: D69066

    The court granted a motion to dismiss plaintiffs' claim for injurious falsehood, because the allegations of the complaint did not meet the elements of this tort.

  • GlobalTranz Enter., Inc. v. PNC Bank, N.A.

    Publication Date: 2020-07-08
    Practice Area: Creditors' and Debtors' Rights
    Industry: Financial Services and Banking | Cargo and Shipping | Transportation
    Court: Delaware Superior Court
    Judge: Judge Adams
    Attorneys: For plaintiff: Sabrina M. Hendershot and Donna L. Culver, Morris Nichols Arsht & Tunnell LLP, Wilmington, DE; Anthony J. Dutra and Neal L. Wolf, Hanson Bridgett LLP, San Francisco, CA for plaintiff.
    for defendant: Jose F. Bibiloni, Blank Rome LLP, Wilmington, DE; John E. Lucian, Blank Rome LLP, Philadelphia, PA for defendant.

    Case Number: D69041

    An unsecured creditor could not assert a claim for unjust enrichment against a secured creditor.

  • Consumer Fin. Prot. Bureau v. The Nat'l Collegiate Master Student Trust

    Publication Date: 2020-06-17
    Practice Area: Creditors' and Debtors' Rights
    Industry: Financial Services and Banking | Education
    Court: U.S. District Court of Delaware
    Judge: District Judge Noreika
    Attorneys: For plaintiff: Colin T. Reardon, Gabriel S.H. Hopkins, Jane M.E. Peterson, Stephen C. Jacques, Consumer Financial Protection Bureau, Washington, DC for plaintiff.
    for defendant: Jamie L. Brown, Kurt M. Heyman, Melissa N. Donimirski, Heyman Enerio Gattuso & Hirzel LLP, Wilmington, DE; Devon Hercher, Erik W. Haas, George A. LoBiondo, Jared Buszin, Joshua Kipnees, Peter Shakro, Peter W. Tomlinson, Patterson Belknap Webb & Tyler, New York, NY for defendant Ambac Assurance Corp.Daniel A. O’Brien, Venable LLP, Wilmington, DE; Allyson B. Baker, Meredith L. Boylan, Sameer P. Sheikh, Katherine M. Wright, Tiffany C. Williams, Venable LLP, Washington, DC for defendant Transworld Systems, Inc.Catherine A. Gaul, Ashby & Geddes, PA, Wilmington, DE; Michael Hanin, Henry B. Brownstein, Uri Itkin, Kasowitz Benson Torres LLP, New York, NY for defendant Objecting Noteholders.Rebecca L. Butcher, Landis Rath & Cobb LLP, Wilmington, DE; John P. Doherty, William Hao, Alston & Bird LLP, New York, NY for defendant GSS Data Services.Stacey A. Scrivani, Stevens & Lee, P.C., Wilmington, DE; Nicholas H. Pennington, Stevens & Lee, P.C., King of Prussia, PA for defendant The Pennsylvania Higher Education Assistance Agency. Stephen B. Brauerman, Elizabeth A. Powers, Jayson C. Jowers, Bayard, P.A., Wilmington, DE for defendant Wilmington Trust Company.John W. Shaw, Jeffrey T. Castellano, David M. Fry, Shaw Keller LLP, Wilmington, DE; Stephen H. Meyer, Sullivan & Cromwell, LLP, Washington, DC; Matthew A. Martel, Joseph B. Sconyers, Keith M. Kollmeyer, Jones Day, Boston, MA for defendant U.S. Bank National Association.

    Case Number: D69015

    Counsel for trusts lacked authority to sign proposed consent judgment where trust agreements expressly authorized owner trustee as the sole entity to bind the trusts.

  • Bowman v. Barclays Bank of Delaware

    Publication Date: 2020-06-10
    Practice Area: Labor Law
    Industry: Financial Services and Banking
    Court: U.S. District Court of Delaware
    Judge: District Judge Stark
    Attorneys: For plaintiff: Raeann Warner, Jacobs & Crumplar, P.A., Wilmington, DE; James A. Lewis and Jessica Ellis, Pennington Law Group, South Orange, NJ for plaintiff.
    for defendant: Adam V. Orlacchio, Blank Rome LLP, Wilmington, DE; Mark Blondman and Asima J. Ahmad, Blank Rome LLP, Philadelphia, PA for defendant.

    Case Number: D69007

    Defendant plausibly acted as plaintiff's employer where it had authority to control plaintiff's salary, means and manner of work, and direct plaintiff's termination from employment.

  • Pharmacy Corp. of Am./Askari Consol. Litig.

    Publication Date: 2020-05-06
    Practice Area: Contractual Disputes
    Industry: Financial Services and Banking | Retail
    Court: U.S. District Court of Delaware
    Judge: District Judge Andrews
    Attorneys: For plaintiff: Jeffrey S. Goddess, Cooch & Taylor, P.A., Wilmington, DE; Brian C. Dunning, Dunning Rievman & Davies LLP, New York, NY; James Sawyer, Dunning Rievman & Davies LLP, Jericho, NY for Kaveh Askari and Onco 360 parties. Brett D. Fallon, Morris James LLP, Wilmington, DE ; Christopher G. Kelly, Stosh Silivos, Holland & Knight LLP, New York, NY; Jeremy M. Sternberg, Holland & Knight LLP, Boston, MA for Pharmacy Corp. parties.
    for defendant:

    Case Number: D68972

    The court denied plaintiffs' motion for partial summary judgment, because they did not demonstrate that an increase in a working capital loan constituted a "major decision" under the terms of their agreements.

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  • Sun Life Assurance Co. of Canada v. Wilmington Sav. Fund Soc'y

    Publication Date: 2020-04-20
    Practice Area: Law Firm Client Relationships
    Industry: Financial Services and Banking | Insurance | Legal Services
    Court: Delaware Superior Court
    Judge: Judge Wallace
    Attorneys: For plaintiff: Simon E. Fraser and Thomas Francella, Cozen O’Connor, Wilmington, DE for plaintiff.
    for defendant: Steven L. Caponi and Matthew B. Goeller, K&L Gates LLP, Wilmington, DE for defendant.

    Case Number: D68955

    A law firm's prior representation presented a conflict that could not be waived. Motion for reargument denied.

  • Bay Capital Finance, LLC v. Barnes & Noble Educ., Inc.

    Publication Date: 2020-04-15
    Practice Area: Corporate Governance
    Industry: Financial Services and Banking | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor McCormick
    Attorneys: For plaintiff: Sean J. Bellew, Bellew LLC, Wilmington, DE; David A. Felice, Bailey & Glasser LLP, Wilmington, DE; Martin F. Cunniff, Ruyak Cherian LLP, Washington, DC for plaintiff.
    for defendant: Raymond J. DiCamillo, Robert L. Burns, Kevin M. Gallagher, Eliezer Y. Feinstein, and Brian S. Yu, Richards, Layton & Finger, P.A., Wilmington, DE; Adam Offenhartz, Aric H. Wu, David F. Crowley-Buck, and Peter M. Wade, Gibson,Dunn & Crutcher LLP, New York, NY for defendants.

    Case Number: D68942

    Stockholder's breach of fiduciary duty claim against chairman dismissed where chairman had not exercised authority to reject stockholder's nomination notice, which was instead considered and rejected by the full board.

  • Schweitzer v. LCR Capital Partners, LLC

    Publication Date: 2020-03-25
    Practice Area: Employment Litigation
    Industry: Financial Services and Banking
    Court: Delaware Superior Court
    Judge: Judge Adams
    Attorneys: For plaintiff: Sean A. Meluney and Matthew D. Beebe, Benesch Friedlander Coplan & Aronoff, LLP, Wilmington, DE; Scott R. Matthews, Windels Marx Lane & Mittendorf, LLP, New York, NY for plaintiff.
    for defendant: James M. Yoch, Jr. and Michael A. Laukaitis II, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; Lindsay Neinast, Littler Mendelson PC, Washington, DC for defendant.

    Case Number: D68925

    The court lacked personal jurisdiction over a non-resident company manager, and it granted motions to dismiss as to indemni-fication and defamation claims. However, plaintiff adequately stated a wage claim.

  • Wilmington-5190 Brandywine Parkway, LLC. V. Acadia Brandywine Holdings, LLC

    Publication Date: 2020-02-26
    Practice Area: Contractual Disputes
    Industry: Financial Services and Banking | Real Estate
    Court: Delaware Superior Court
    Judge: Judge Davis
    Attorneys: For plaintiff: Michael J. Barrie, Stephen M. Ferguson and William M. Alleman, Jr., Benesch, Friedlander, Coplan & Aronoff LLP, Wilming-ton, DE; Helen Gavaris, Loeb & Loeb LLP, New York, NY for plaintiff.
    for defendant: Andrew D. Cordo, Wilson Sonsini Goodrich & Rosati, Wilmington, DE; Adam C. Silverstein and Rebecca E. Algie, Otterbourg P.C., New York, NY for defendants.

    Case Number: D68893

    Defendants' actions triggered the full recourse provisions under the loan and guaranty agreements. Plaintiff's claims were not barred by the statute of limitations.

  • Ophrys, LLC v. OneMain Fin., Inc.

    Publication Date: 2020-02-05
    Practice Area: Contractual Disputes
    Industry: Financial Services and Banking
    Court: U.S. District Court of Delaware
    Judge: District Judge Andrews
    Attorneys: For plaintiff: Neal J. Levitsky, Seth A. Niederman and E. Chaney Hall, Fox Rothschild LLP, Wilmington, DE; Spencer Hall, Spencer Hall PLLC, Seattle, WA for plaintiff.
    for defendant: Stacey A. Scrivani and Joseph Wolfson, Stevens & Lee, P.C., Wilmington, DE and Philadelphia, PA for defendants.

    Case Number: D68868

    A party waived the right to seek relief for a contractual breach because it did not strictly comply with the notice requirements set forth in the parties' agreement.