• Principal Growth Strategies, LLC v. AGH Parent LLC

    Publication Date: 2023-01-24
    Practice Area: Insurance Law
    Industry: Consulting | Insurance | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Brett D. Fallon, Faegre Drinker Biddle & Reath LLP, Wilmington, DE; Warren E. Gluck, Richard A. Bixter, Jr., Holland & Knight LLP, New York, NY for plaintiffs.
    for defendant: R. Craig Martin, Amy Evans, DLA Piper LLP (US), Wilmington, DE; Ellen E. Dew, DLA Piper LLP (US), Baltimore, MD; Aidan M. McCormack, R. Brian Seibert, Steven M. Rosato, DLA Piper LLP (US), New York, NY for defendants.

    Case Number: 2019-0431-JTL

    Litigation against distressed insurer stayed in favor of ongoing rehabilitation proceedings in another state, but basis for stay did not apply to insurer's separate, wholly-owned management consultant company.

  • Fairstead Capital Mgmt. LLC v. Blodgett

    Publication Date: 2023-01-24
    Practice Area: Contracts
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Ryan Stottmann, Thomas P. Will, Morris Nichols, Arsht & Tunnell LLP, Wilmington, DE; Michael B. Carlinsky, Rollo C. Baker, Jonathan Feder, Alison Lo, Quinn Emanuel Urquhart &Sullivan, LLP, New York, NY for plaintiffs.
    for defendant: David E. Ross, Holly E. Newell, A. Gage Whirley, Ross Aronstam & Moritz LLP, Wilmington, DE; Jacob W. Budchdahl, Elisha B. Barron, Susman Godfrey LLP, New York, NY for defendant.

    Case Number: 2022-0673-JTL

    The court granted plaintiffs' request for summary judgment and a permanent injunction barring defendant from litigating claims he pursued through arbitration.

  • In re: Quorum Health Corp.

    Publication Date: 2023-01-24
    Practice Area: Bankruptcy
    Industry: Health Care | Investments and Investment Advisory
    Court: U.S. Bankruptcy Court
    Judge: Judge Shannon
    Attorneys: For plaintiff:
    for defendant:

    Case Number: 20-10766 (BLS)

    Court dismissed adversary complaint seeking to revoke plan of reorganization where plaintiff was an unimpaired general unsecured creditor who was not entitled to vote on the plan.

  • Ainslie v. Fitzgerald

    Publication Date: 2023-01-17
    Practice Area: Contracts
    Industry: Financial Services and Banking | Investments and Investment Advisory
    Court: Delaware Superior Court
    Judge: Judge Zurn
    Attorneys: For plaintiff: Blake A. Bennett, Cooch & Taylor P.A., Wilmington, DE; Joseph Delich, Alex Potter, Kevin Goode, Freedman Nordmand Friedland LLP, New York, NY; Kyle Roche, Kyle Roche, P.A., New York, NY for plaintiffs.
    for defendant: C. Barr Flinn, Paul J. Loughman, Alberto E. Chávez, Skyler A. Speed, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; David A. Paul, Cantor Fitzgerald, New York, NY for defendant.

    Case Number: 9436-VCZ

    The court granted in part and denied in part parties' cross-motions for summary judgment regarding the appropriateness of penalties arising out of a partnership's restrictive covenants.

  • Delman v. GigAcquisitions3, LLC

    Publication Date: 2023-01-17
    Practice Area: Corporate Governance
    Industry: Automotive | Investments and Investment Advisory | Manufacturing
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Michael J. Barry, Grant & Eisenhoffer, P.A., Wilmington, DE; Michael Klausner, Stanford, CA, for plaintiff.
    for defendant: John L. Reed, Ronald N. Brown, Kelly L. Freund, DLA Piper LLP (US), Wilmington, DE; Melanie E. Walker, Gaspard Rappoport, DLA Piper LLP (US), Los Angeles, CA for defendants.

    Case Number: 2021-0679-LWW

    Public stockholder in pre-merger special purpose acquisition company sufficiently stated breach of fiduciary claims under entire fairness review by alleging that sponsor and the SPAC board were conflicted as they stood to see a return on their investment even though the post-merger company would not succeed, and regardless of whether the public stockholders would be better served by liquidation.

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  • Smart Local Unions & Councils Pension Fund v. BridgeBio Pharma, Inc.

    Publication Date: 2023-01-10
    Practice Area: Mergers and Acquisitions
    Industry: Biotechnology | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Fiorvanti
    Attorneys: For plaintiff: Thomas Curry, Tayler D. Bolton, Saxena White P.A., Wilmington, DE; David Wales, Saxena White P.A, White Plains, NY; Gregory V. Varallo, Berstein Litowitz Berger & Grossmann LLP, Wilmington, DE: Mark Lebovitch, Berstein Litowitz Berger & Grossmann LLP, New York, NY; Jeremy Friedman, Oster & Tejtel PLLC, Bedford Hills, NY for plaintiff.
    for defendant: Cliff C. Gardner, Andrew D. Kinsey, Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington, DE for defendants.

    Case Number: 2021-1030-PAF

    The court granted defendant's motion to dismiss finding that plaintiffs failed to plead sufficient facts to demonstrate that the business judgment rule should not apply to a complaint challenging a merger transaction between defendant majority stockholder and another company.

  • Garfield v. Boxed, Inc.

    Publication Date: 2023-01-10
    Practice Area: Mergers and Acquisitions
    Industry: E-Commerce | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Zurn
    Attorneys: For plaintiff: David A. Jenkins, Neal C. Belgam, Jason Z. Miller, Smith Katzenstein & Jenkins LLP, Wilmington, DE; Steven J. Purcell, Robert H. Lefkowitz, Anisha Mirchandani, Purcell & Lefkowitz LLP, New York, NY for plaintiff.
    for defendant: Paul J. Loughman, Joseph M. Turk, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; Mark T. Stancil, Wilkie Farr & Gallagher LLP, Washington, D.C.; Betsy L. Feldman, Wilkie Farr & Gallagher LLP, New York, NY for defendant.

    Case Number: 2022-0132-MTZ

    Because corporate charter established two separate classes of stock rather than one class with two series, stockholder conferred benefit on company by demanding it grant the stockholder's class a separate vote on charter amendments affecting the class, and was accordingly entitled to an award of attorneys' fees and costs.

  • Boardwalk Pipeline Partners, LP v. Bandera Master Fund LP

    Publication Date: 2023-01-03
    Practice Area: Corporate Governance
    Industry: Energy | Investments and Investment Advisory | Transportation
    Court: Delaware Supreme Court
    Judge: Justice Seitz
    Attorneys: For plaintiff: William Savitt, Sarah K. Eddy, Adam M Gogolak, Wachtell, Lipton, Rosen & Katz, New York, NY; Daniel A. Mason, Paul, Weiss, Rifkind, Wharton & Garrison LLP, Wilmington, DE; Stephen P. Lamb, Andrew G. Gordon, Harris Fischman, Robert N. Kravitz, Carter E. Greenbaum, Paul, Weiss, Rifkind, Wharton & Garrison LLP, New York, NY; Srinivas M. Raju, Blake Rohrbacher, Matthew D. Perri, John M. O’Toole, Richards, Layton & Finger, P.A., Wilmington, DE; Rolin P. Bissell, Young Conaway Stargatt & Taylor LLP, Wilmington, DE for appellants.
    for defendant: A. Thompson Bayliss, J. Peter Shindel, Jr., Daniel G. Paterno, Eric A. Veres, Samuel D. Cordle, Abrams & Bayliss LLP, Wilmington, DE for appellees.

    Case Number: 2021-0700-PWG

    Member controlling general partner in Master Limited Partnership was correct party to determine whether opinion of counsel to exercise call right was acceptable, meaning that general partner and related entities were exculpated from liability to limited partners due to the presumption of good faith in reliance on opinion of counsel imposed by the limited partnership agreement.

  • Omega Capital Mgmt. Partners, LLC v. Schrage

    Publication Date: 2023-01-03
    Practice Area: Contracts
    Industry: Investments and Investment Advisory
    Court: U.S. Court of Appeals for the Third Circuit
    Judge: Judge Restrepo
    Attorneys: For plaintiff:
    for defendant:

    Case Number: 21-2924

    The court vacated an order of the District Court granting a motion to dismiss a breach of contract claim on the basis that appellant had failed to establish an enforceable contract between the parties.

  • Lebanon County Employees' Ret. Fund v. Collis

    Publication Date: 2023-01-03
    Practice Area: Corporate Entities
    Industry: Distribution and Wholesale | Investments and Investment Advisory | Pharmaceuticals
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Samuel L. Closic, Eric J. Juray, Robert B. Lackey, Prickett, Jones & Elliott, P.A., Wilmington, DE; Gregory V. Varallo, Bernstein Litowitz Berger & Grossmann LLP, Wilmington, DE; Lee D. Rudy, Eric L. Zagar, Kessler Topaz Meltzer & Check, LLP, Radnor, PA; Jeroen van Kwawegen, Eric J. Riedel, Bernstein Litowitz Berger & Grossmann LLP, New York, NY; Frank R. Schirripa, Daniel B. Rehns, Kurt Hunciker, Hillary Nappi, Hach Rose Schirripa & Cheverie LLP, New York, NY; Gregory Mark Nespole, Daniel Tepper, Levi & Korsinsky, LLP, New York, NY; Brian J. Robbins, Craig W. Smith, Robbins LLP, San Diego, CA for plaintiffs.
    for defendant: Stephen C. Norman, Jennifer C. Wasson, Tyler J. Leavengood, Potter Anderson & Corroon LLP, Wilmington, DE; Michael S. Doluisio, Carla Graff, Dechert LLP, Philadelphia, PA; Matthew L. Larrabee, Hayoung Park, Dechert LLP, New York, NY; Michael D. Blanchard, Amelia Pennington, Morgan, Lewis & Bockius LLP, Boston, MA for defendants.

    Case Number: 2021-1118-JTL

    The court granted a motion to dismiss breach of duty claims stockholder plaintiffs brought against pharmaceutical distributor defendant.