• Blue v. Fireman

    Publication Date: 2022-03-15
    Practice Area: Mergers and Acquisitions
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Zurn
    Attorneys: For plaintiff: Marcus E. Montejo, John G. Day, Prickett, Jones & Elliott, P.A., Wilmington, DE for plaintiffs.
    for defendant: Matthew D. Stachel, Paul, Weiss, Rifkind, Wharton & Garrison LLP, Wilmington, DE; Audra J. Soloway, Jaren Janghorbani, Maia Usui, Paul, Weiss, Rifkind, Wharton & Garrison LLP, New York, NY for defendants.

    Case Number: D69743

    The court found that plaintiffs' breach of fiduciary duty claim was a direct claim and not a derivative claim.

  • Lockton v. Rogers

    Publication Date: 2022-03-15
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Software
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Daniel A. Griffith, Whiteford, Taylor & Preston LLC, Wilmington, DE; Allan B. Diamond, Jason Fulton, and John B. Sample, Diamond Mccarthy LLP, Houston, TX for plaintiffs.
    for defendant: Stephen C. Norman, Nicholas D. Mozal, Callan R. Jackson, Potter Anderson & Corroon LLP, Wilmington, DE. Albert H. Manwaring IV, Matthew F. Lintner, Kirsten Zeberkiewicz, Morris James LLP, Wilmington, DE; Robert A. Van Kirk, Sarah F. Kirkpatrick, Williams & Connolly LLP, Washington, DC for defendants.

    Case Number: D69745

    The court held that 1) the record was not sufficient to find that Corwin cleansed the merger transaction and 2) that plaintiffs adequately pled a breach of fiduciary duty against defendants.

  • Deane v. Maginn

    Publication Date: 2022-03-15
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Software
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: David H. Holloway, Shlansky Law Group, LLP, Wilmington, DE; Colin R. Hagan, David J. Shlansky, Shlansky Law Group, LLP, Chelsea, MA for plaintiffs.
    for defendant: Jody C. Barillare, Amy M. Dudash, Morgan, Lewis & Bockius LLP, Wilmington, DE; Michael D. Blanchard, Morgan, Lewis & Bockius, Boston, MA for defendants

    Case Number: D69744

    The court held that plaintiffs' claim against defendant for allowing warrants to expire was time-barred.

  • In re The Chemours Company Sec. Litig.

    Publication Date: 2022-03-08
    Practice Area: Securities Litigation
    Industry: Chemicals and Materials | Investments and Investment Advisory | Manufacturing
    Court: U.S. District Court of Delaware
    Judge: District Judge Connolly
    Attorneys: For plaintiff: Bruce E. Jameson, Marcus E. Montejo, Stephen D. Dargitz, Prickett, Jones & Elliott, P.A., Wilmington, DE, liaison counsel for the class. Mary Sikra Thomas, Bruce E. Jameson Prickett, Jones & Elliott, P.A., Wilmington, DE; Maya S. Saxena, Joseph E. White, III, Lester R. Hooker, Dianne M. Pitre, Saxena White P.A., Boca Raton, FL; Steven B. Singer, Kyla Grant, Saxena White P.A., White Plains, NY; David R. Kaplan, Saxena White P.A., San Diego, CA for lead plaintiff and for the class.
    for defendant: Joel Friedlander, Jeffrey Gorris, Christopher Foulds, Christopher P. Quinn, Friedlander & Gorris P.A., Wilmington, DE for de-fendant.

    Case Number: D69736

    The court held that plaintiff met its pleading requirements when he alleged that defendant made false statements in annual and quarterly reports about maximum remediation liabilities

  • In Re: Woodbridge Group of Co., LLC

    Publication Date: 2022-03-08
    Practice Area: Civil Procedure
    Industry: Financial Services and Banking | Investments and Investment Advisory | Real Estate
    Court: U.S. Court of Appeals for the Third Circuit
    Judge: Per Curiam
    Attorneys: For plaintiff:
    for defendant:

    Case Number: D69738

    In this per curiam, non-binding opinion, the court held that the Bankruptcy Court did not err in concluding that creditor's claims were barred by res judicata.

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  • S'holder Representative Serv. LLC v. DC Capital Partners Fund II LP

    Publication Date: 2022-03-01
    Practice Area: Contracts
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Chancellor McCormick
    Attorneys: For plaintiff: Thomas A. Uebler, Joseph L. Christensen, Kathleen A. Murphy, Mccollom D’Emilio Smith Uebler LLC, Wilmington, DE for plaintiff.
    for defendant: Philip Trainer, Jr., Marie M. Degnan, Ashby & Geddes, Wilmington, DE for defendants.

    Case Number: D69728

    The court held that it had subject matter jurisdiction because the subject agreement was an instrument for the sale of stock, because it did not have discretion to decline jurisdiction, and because common law favored giving deference to plaintiff's choice of forum.

  • Manti Holdings, LLC v. The Carlyle Group Inc.

    Publication Date: 2022-03-01
    Practice Area: Mergers and Acquisitions
    Industry: Energy | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Rolin P. Bissell, Paul J. Loughman, Alberto E. Chávez, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; D. Patrick Long, Jonathan R. Mureen John Tancabel, Squire Patton Boggs (US) LLP, Dallas, TX for plaintiffs.
    for defendant: Albert H. Manwaring IV, Kirsten Zeberkiewicz, Morris James LLP, Wilmington, DE; Robert A. Van Kirk, Sarah F. Kirkpatrick, Lauren Uhlig, Williams & Connolly LLP, Washington, DC for defendants.

    Case Number: D69727

    The court held that plaintiffs did not waive their right to bring an action to challenge fiduciary duty breaches allegedly committed in connection with the sale of a company, or for secondary liability claims, because the contract language did not show a clear relinquishment of those rights.

  • In Re Straight Path Commc'ns Inc. Consol. Stockholder Litig.

    Publication Date: 2022-03-01
    Practice Area: Mergers and Acquisitions
    Industry: Investments and Investment Advisory | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Ned Weinberger,Mark Richardson, Labaton Sucharow LLP, Wilmington, DE; Jeroen van Kwawegen, Edward G. Timlin, Alla Zayenchik, Bernstein Litowitz Berger & Grossmann LLP, New York, NY; Vincent R. Cappucci, Joshua K. Porter, Entwistle& Cappucci LLP, New York, NY for plaintiffs.
    for defendant: Rudolf Koch, Kevin M. Gallagher, Daniel E. Kaprow, Richards, Layton & Finger, P.A., Wilmington, DE; Thomas Uebler, Mccollom D’Emilio Smith Uebler LLC, Wilmington, DE; Jason Cyrulnik, Paul Fattaruso, Evelyn Fruchter, Cyrulnik Fetters LLP, New York, NY; Kevin R. Shannon, Berton W. Ashman, Jr., Jacqueline A. Rogers, David A. Seal, Potter Anderson & Corroon LLP, Wilmington, DE, for defendants

    Case Number: D69726

    The court held that there were disputes over material facts regarding which entity was responsible for indemnifying a claim from a settlement with the Federal Communications Commission such that they precluded entry of summary judgment.

  • Strategic Inv. Opportunities LLC v. Lee Enter., Inc.

    Publication Date: 2022-03-01
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: John D. Hendershot, Matthew W. Murphy, John T. Miraglia, Richards, Layton & Finger, P.A., Wilmington, DE; Adrienne Marie Ward, Lori Marks-Esterman, Peter M. Sartorius, Theodore J. Hawkins, Olshan Frome Wolosky LLP, New York, NY for plaintiff.
    for defendant: Michael A. Pittenger, Christopher N. Kelley, Daniel M. Rusk, IV, Justin T. Hymes, Potter Anderson & Corroon LLP, Wilmington, DE; Stefan Atkinson, Byron Pacheco, Brittney Nagle, Kirkland & Ellis LLP, New York, NY for defendants.

    Case Number: D69729

    The court held that the defendant company, through its board members, did not breach bylaw requirements when it rejected the proposed nomination to the board because the nomination notice was deficient, and the actions of the board were rea-sonable and equitable.

  • Ryan v. Buckeye Partners, L.P.

    Publication Date: 2022-02-22
    Practice Area: Mergers and Acquisitions
    Industry: Distribution and Wholesale | Energy | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Blake A. Bennett, Dean R. Roland, Cooch and Taylor, P.A., Wilmington, DE; Clinton A. Krislov, Kenneth T. Goldstein, Christopher M. Hack, Krislov & Associates, Ltd., Chicago, IL; Samuel B. Edwards, Ryan Cook, Shepherd, Smith, Edwards & Kantas, LLP, Houston, TX for plaintiff.
    for defendant: William M. Lafferty, Ryan D. Stottmann, Sabrina M. Hendershot, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Gary A. Bornstein, Rory A. Leraris, Cravath, Swaine & Moore LLP, New York, NY; Jeffrey L. Moyer, Srinivas M. Raju, Tyler E. Cragg, Richards, Layton & Finger, P.A., Wilmington, DE; Andrew W. Hammond, Steven A. Levy, White & Case LLP, New York, NY for defendants.

    Case Number: D69718

    The court held in this class action that plaintiffs failed to plead sufficient facts to support their breach of contract and breach of implied covenant claims relating to a merger that was approved by a majority of unitholders.