• W. Palm Beach Firefighters' Pension Fund v. Moelis & Co.

    Publication Date: 2024-02-26
    Practice Area: Corporate Governance
    Industry: Financial Services and Banking | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Thomas Curry, Taylor D. Bolton, Saxena White P.A, Wilmington, DE; David Wales, Saxena White P.A., White Plains, NY; Adam Warden, Saxena White P.A; Boca Raton, FL for plaintiff.
    for defendant: John P. DiTomo, Miranda N. Gilbert, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; William Savitt, Anitha Reddy, Getzel Berger, Emma S. Stein, Wachtell, Lipton, Rosen & Katz, New York, NY for defendant.

    Case Number: 2023-0309-JTL

    Court denied summary judgment dismissal of complaint challenging legality of stockholders' agreement provisions on grounds of laches and ripeness, where equitable defenses could not validate a void contractual provision and where stockholder could launch a facial attack against challenged provisions without having to wait for company controllers to breach fiduciary duties.

  • Javice v. JPMorgan Chase Bank. N.A.

    Publication Date: 2024-02-26
    Practice Area: Labor Law
    Industry: Financial Services and Banking | Legal Services
    Court: Court of Chancery
    Judge: Chancellor McCormick
    Attorneys: For plaintiff: Peter J. Walsh, Jr., Michael A. Pittenger, Hayden J. Driscoll, Potter Anderson & Corroon LLP, Wilmington, DE; Michael A. Barlow, Quinn Emanuel Urquhart & Sullivan, LLP, Wilmington, DE for plaintiff.
    for defendant: Samuel D. Cordle, Peter C. Cirka, Abrams & Bayliss LLP, Wilmington, DE for defendant.

    Case Number: 2022-1179-KSJM

    Court sustained objection to request for advancement of two categories of fees where plaintiff failed to seek advancement of those fees in her original complaint and could not raise them in a subsequent motion for payment.

  • Jaroslawicz v. M&T Bank Corp.

    Publication Date: 2024-02-19
    Practice Area: Securities Litigation
    Industry: Financial Services and Banking | Investments and Investment Advisory
    Court: U.S. District Court of Delaware
    Judge: District Judge Wallach
    Attorneys: For plaintiff: Francis J. Murphy, Jr., Jonathan L. Parshall, Murphy, Spadaro & Landon, Wilmington, DE; Steven M. Coren, Benjamin M. Mather, Matthew R. Williams, Kauffman, Coren & Ress, P.C, Philadelphia, PA for plaintiffs.
    for defendant: Brian M. Rostocki, Anne M. Steadman, Justin M. Forcier, Reed Smith LLP, Wilmington, DE; Jonathan K. Youngwood, Janet A. Gochman, Tyler A. Anger, Katherine A. Hardiman, Simpson, Thacher & Bartlett, New York, NY; Kevin R. Shannon, Daniel Rusk, Potter Anderson & Corroon LLP, Wilmington, DE; Tracy Richelle High, Scott A. Foltz, Sullivan & Cromwell LLP, New York, NY for defendants.

    Case Number: 15-00897-EJW

    Although plaintiffs' experts' report in support of their damages theory for class certification used sufficiently reliable methodologies under the Daubert standard, the evidence was wholly speculative to demonstrate economic loss or proximate causation, such that plaintiffs could not meet the commonality or predominance standards.

  • Testa-Carr v. Sallie Mae

    Publication Date: 2024-02-19
    Practice Area: Labor Law
    Industry: Financial Services and Banking
    Court: Delaware Superior Court
    Judge: Judge Butler
    Attorneys: For plaintiff: Joseph J. Rhoades, Stephen T. Morrow, Rhoades & Morrow LLC, Wilmington, DE for appellant.
    for defendant: H. Garrett Baker, Elzufon, Austin & Mondell, P.A., Wilmington, DE for appellee.

    Case Number: N23A-04-004 CEB

    Volunteer work performed on behalf of employer did not fall within course and scope of employment where employer derived no substantial benefit as employees were not required to volunteer nor promote employer during their volunteer work.

  • Cantor Fitzgerald, L.P. v. Ainslie

    Publication Date: 2024-02-12
    Practice Area: Contracts
    Industry: Financial Services and Banking
    Court: Delaware Supreme Court
    Judge: Justice Traynor
    Attorneys: For plaintiff: C. Barr Flinn, Paul J. Loughman, Alberto E. Chávez, Skyler A. C. Speed, Young, Conaway, Stargatt & Taylor, LLP, Wilmington, DE; David A. Paul, Virginia J. Cardenas, Sid Nadkarni, Cantor Fitzgerald, New York, NY; Benjamin R. Nagin, Eric G. Hoffman, Sidley Austin LLP, New York, NY; Tacy F. Flint, Frank J. Favia, Jr., Sidley Austin LLP, Chicago, IL for appellant.
    for defendant: Blake A. Bennett, Cooch & Taylor P.A., Wilmington, DE; Kyle W. Roche, Kyle Roche P.A., New York, NY; Velvel Freedman, Alex Potter, Freedman Normand Friedland LLP, New York, NY for appellees.

    Case Number: 162, 2023

    A "forfeiture-for-competition" provision in a partnership agreement did not qualify as a restraint on trade, and thus partners who had negotiated and benefitted from such a term would be held to the terms of their agreement due to the Delaware Revised Uniform Limited Partnership Act's express favor for the enforceability of contracts.

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  • CFGI, LLC v. Common C Holdings LP

    Publication Date: 2024-02-12
    Practice Area: Contracts
    Industry: Financial Services and Banking | Consulting | Consumer Products
    Court: Delaware Superior Court
    Judge: Judge Adams
    Attorneys: For plaintiff: John P. DiTomo, Alexandra M. Cumings, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE for plaintiff.
    for defendant: R. Bruce McNew, R. Grant Dick IV, Andrew A. Ralli, Cooch and Taylor P.A., Wilmington, DE for defendants.

    Case Number: N23C-03-032 MAA CCLD

    Amendment to contract purporting to "accelerate" past due payments lacked consideration where defendant was already making payments.

  • In re: Veale

    Publication Date: 2024-02-05
    Practice Area: Bankruptcy
    Industry: Financial Services and Banking
    Court: U.S. Court of Appeals for the Third Circuit
    Judge: Judge McKee
    Attorneys: For plaintiff:
    for defendant:

    Case Number: 22-3212

    Court affirmed dismissal of adversary complaint by creditor where there was no evidence supporting a claim of non-dischargeability of a personal guarantee of a business loan.

  • In re: First Guaranty Mortgage Corp.

    Publication Date: 2024-01-08
    Practice Area: Bankruptcy
    Industry: Financial Services and Banking
    Court: U.S. Bankruptcy Court
    Judge: Judge Goldblatt
    Attorneys: For plaintiff:
    for defendant:

    Case Number: 22-10584 (CTG)

    Aiding in the making of false statements against the federal government was a claim belonging to the government under the False Claims Act and thus was not released by debtors' third-party release in their reorganization plan.

  • City of Hialeah Employees' Ret. Sys. v. Insight Venture Partners, LLC

    Publication Date: 2024-01-08
    Practice Area: Mergers and Acquisitions
    Industry: Financial Services and Banking | Investments and Investment Advisory | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Zurn
    Attorneys: For plaintiff: Thomas Curry, Tayler D. Bolton, Saxena White P.A., Wilmington, DE; David Wales, Saxena White P.A., White Plains, NY; Adam Warden, Saxena White P.A., Boca Raton, FL; Peter B. Andrews, Craig J. Springer, David M. Sborz, Andrew J. Peach, Jackson E. Warren, Jacob D. Jeifa, Wilmington, DE, Andrews & Springer LLC for plaintiff.
    for defendant: Garrett B. Moritz, S. Reiko Rogozen, Ross Aronstam & Moritz LLP, Wilmington, DE; Steven M. Farina, George A. Borden, Brian T. Gilmore, Williams & Connolly LLP, Washington, DC; William M. Lafferty, Ryan D. Stottmann, Rachel R. Tunney, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Tariq Mundiya, Jeffrey B. Korn, Richard Li, Ciara A. Sisco, Willkie Farr & Gallagher LLP, New York, NY for defendants.

    Case Number: 2022-0846-MTZ

    Plaintiff failed to plead demand futility for derivative complaint where controller's ability to remove board members by itself could not establish a lack of independence and a majority of the board's financial ties did not prevent them from exercising independent judgment.

  • CoVenture Burt Credit Opportunities GP, LLC v. Coleman

    Publication Date: 2023-11-13
    Practice Area: Creditors' and Debtors' Rights
    Industry: Financial Services and Banking
    Court: Delaware Superior Court
    Judge: Judge Johnston
    Attorneys: For plaintiff: Lisa Zwally Brown, Samuel L. Moultrie, Greenberg Traurig, LLP, Wilmington, DE; Gabriel Aizenberg, Scott Mendeloff, Aaron S. Klein, Greenberg Traurig, LLP, Chicago IL for plaintiff.
    for defendant: Richard I.G. Jones, Jr., Michael W. McDermott, Berger Harris LLP, Wilmington, DE; Steven R. Campbell, Scott M. O’Brien, Alston & Bird LLP, New York, NY for defendant.

    Case Number: N22C-07-197 MMJ CCLD

    Court dismissed fraud claims against corporate controller where alleged fraudulent behavior merely constituted a breach of the controller's contractual obligations.