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Publication Date: 2024-10-29
Practice Area: Corporate Governance
Industry: Investments and Investment Advisory
Court: Court of Chancery
Judge: Chancellor Molina
Attorneys: For plaintiff: Bruce E. Jameson, J. Clayton Athey, John G. Day, Christine N. Chappelear, Prickett, Jones & Elliott, P.A., Wilmington, DE; Mary S. Thomas, Thomas Law LLC, Wilmington, DE for plaintiff.
for defendant: Eric A. Veres, S. Michael Blochberger, Abrams & Bayliss LLP, Wilmington, DE for defendant.
Case Number: 2024-0637-SEM
Court denied production of records relating to litigation funding arrangements and retainer agreements where plaintiffs had potentially waived such a claim and had failed to show at trial that relevant records or information would be responsive to the request the court ultimately granted.
Publication Date: 2024-10-29
Practice Area: Corporate Entities
Industry: E-Commerce | Investments and Investment Advisory | Technology Media and Telecom
Court: Delaware Superior Court
Judge: Judge Wallace
Attorneys: For plaintiff: Barnaby Grzaslewicz, Albert H. Manwaring, IV, Kirsten A. Zeberkiewicz, Morris James LLP, Wilmington, DE for plaintiff.
for defendant: Joseph C. Schoell, Faegre Drinker Biddle & Reath LLP, Wilmington, DE; Steven L. Caponi, Matthew B. Goeller, Megan E. Hunt, K&L Gates LLP, Wilmington, DE for defendants.
Case Number: N23C-05-120 PRW CCLD
Court declined to apply "inherently unknowable injury" doctrine to negligence and conversion claims arising from corporation's following of state law to escheat shares where plaintiff had ample opportunity to prevent the escheatment.
Publication Date: 2024-10-15
Practice Area: Corporate Governance
Industry: Education | Investments and Investment Advisory | Software
Court: Court of Chancery
Judge: Vice Chancellor Will
Attorneys: For plaintiff: Neil R. Lapinski, Phillip A. Giordano, Madeline R. Silverman, Gordon, Fournaris & Mammarella, P.A., Wilmington, DE for plaintiff.
for defendant: Thomas A. Uebler, Kathleen A. Murphy, Adam J. Waskie, Sarah P. Kaboly, Terisa A. Shoremount, McCollom D’Emilio Smith Uebler LLC, Wilmington, DE; Thad J. Bracegirdle, Sarah T. Andrade, Bayard, P.A., Wilmington, DE for defendants.
Case Number: 2024-0393-LWW
Stockholder/director's claims for breach of stockholders' agreement were barred by res judicata, laches, and acquiescence where director served alongside other directors without objection and could have asserted her present claims in a prior action against the other directors.
Publication Date: 2024-10-15
Practice Area: Corporate Governance
Industry: Investments and Investment Advisory | Technology Media and Telecom
Court: Court of Chancery
Judge: Vice Chancellor Zurn
Attorneys: For plaintiff: Michael Hanrahan, Prickett, Jones & Elliott, P.A., Wilmington, DE; Blake Rohrbacher, Richards, Layton & Finger, P.A., Wilmington, DE for plaintiffs.
for defendant: David E. Ross, Ross Aronstam & Moritz LLP, Wilmington, DE; William M. Lafferty, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE for defendants.
Case Number: 2020-0505-MTZ
Stockholders could not bring fiduciary claims against purported controller of company's parent corporation without presenting evidence of controller's hard control over the parent's voting power or an exercise of actual control over the company.
Publication Date: 2024-10-08
Practice Area: Corporate Entities
Industry: Investments and Investment Advisory
Court: Court of Chancery
Judge: Chancellor McCormick
Attorneys: For plaintiff: John L. Reed, Peter H. Kyle, Kelly L. Freund, Daniel P. Klusman, DLA Piper LLP (US), Wilmington, DE; Patrick J. Smith, Brian T. Burns, Michael K. Sala, Clark Smith Villazor LLP, New York, NY for plaintiffs.
for defendant: Jon E. Abramczyk, D. McKinley Measley, Elizabeth A. Mullin Stoffer, Kirk C. Andersen, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE for defendants.
Case Number: 2019-0812-KSJM
Court found that equal sharing provision in parties' LLC agreement had been triggered entitling plaintiff to equal distributions at the subsidiary level by transferring his economic rights to the subsidiary following the holding company's dissolution.
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Authors: Gary L. Brown
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Publication Date: 2024-10-08
Practice Area: Employment Litigation
Industry: Health Care | Investments and Investment Advisory
Court: Court of Chancery
Judge: Vice Chancellor Will
Attorneys: For plaintiff: John M. Seaman, G. Mason Thomson, Abrams & Bayliss LLP, Wilmington, DE; Ryan Q. Keech, K&L Gates LLP, Los Angeles, CA; Matthew B. Goeller, K&L Gates LLP, Wilmington, DE; Carl Alan Roth, Roth Ames LLP, La Habra, CA for plaintiff.
for defendant: John P. DiTomo, Lauren K. Neal, Courtney Kurz, Taylor A. Christensen, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE for defendant.
Case Number: 2022-1192-LWW
Court ruled that company's former LLP agreement's vesting and forfeiture terms for partnership units could be incorporated into restricted stock agreement following company's corporate conversion and exchange of employee's units for restricted stock.
Publication Date: 2024-10-08
Practice Area: Personal Injury
Industry: Consulting | Investments and Investment Advisory
Court: Delaware Superior Court
Judge: Judge Brennan
Attorneys: For plaintiff: Brian E. Farnan, Michael Farnan, Rosemary J. Piergiovanni, Farnan LLP, Wilmington, DE; Stephen Shackelford, Susman Godfrey L.L.P., New York, NY for plaintiffs.
for defendant: Joe P. Yeager, Margolis Edelstein, Wilmington, DE for defendant.
Case Number: N21C-09-206 DJB
Plaintiffs adequately proved claim of defamation where defendant's litigation filings that contained untrue statements had the effect of maligning plaintiffs' reputation and thus could be reasonably understood by a third party as defamatory.
Publication Date: 2024-10-08
Practice Area: Bankruptcy
Industry: Agriculture | Investments and Investment Advisory
Court: U.S. Bankruptcy Court
Judge: Judge Goldblatt
Attorneys: For plaintiff:
for defendant:
Case Number: 24-10267 (CTG)
An opt-out mechanism was insufficient to validate releases of creditors' claims against non-parties in a bankruptcy plan of reorganization where Supreme Court precedent made nonconsensual releases per se illegal and there had to be some affirmative act of assent to make the release consensual.
Publication Date: 2024-10-08
Practice Area: Bankruptcy
Industry: Investments and Investment Advisory
Court: U.S. District Court of Delaware
Judge: District Judge Connolly
Attorneys: For plaintiff: Eric D. Schwartz, Daniel B. Butz, Evanthea Hammer, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Paul Werner, A. Jospeh Jay, III, Sheppard Mullin Richter & Hampton, LLP, Washington, DC; Edward H. Tillinghast, III, Sheppard Mullin Richter & Hampton, LLP, New York, NY for appellant.
for defendant: Jaco R. Kirkham, Stephen J. Astringer, Kobre & Kim LLP, Wilmington, DE; Adam M. Lavine, John G. Conte, Kobre & Kim LLP, New York, NY; Adriana Riviere-Badell, Evelyn Baltodano Sheehan, Kobre & Kim LLP, Miami, FL for appellee.
Case Number: 22-10261 (TMH)
Bankruptcy court appropriately extended automatic stay to foreign main proceeding where permitted by the Bankruptcy Code and under the principles of international comity after the foreign court similarly imposed a stay.
Publication Date: 2024-10-01
Practice Area: Mergers and Acquisitions
Industry: Investments and Investment Advisory | Technology Media and Telecom
Court: Court of Chancery
Judge: Vice Chancellor Will
Attorneys: For plaintiff: Matthew D. Perri, Daniel E. Kaprow, Elizabeth J. Freud, Alfred P. Dillione, Rae Ra, Richards, Layton & Finger, P.A., Wilmington, DE for plaintiff.
for defendant: Kevin M. Coen, Jacob M. Perrone, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Bradley J. Bondi, D. Scott Carlton, Traci Zeller, Nicholas J. Griepsma, Paul Hastings LLP, Washington, D.C. for defendant.
Case Number: 2024-0186-LWW
Court recalculated conversion ratio following business combination where inclusion of issued shares regardless of the circumstances of issuance was consistent with the anti-dilutive purpose of the conversion.
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