Publication Date: 2021-12-28
Practice Area: Corporate Governance
Industry: Food and Beverage | Investments and Investment Advisory
Court: Court of Chancery
Judge: Vice Chancellor Will
Attorneys: For plaintiff: Joel Friedlander, Jeffrey Gorris, Christopher M. Foulds, Friedlander & Gorris P.A., Wilmington, DE; P. Bradford deLeeuw, Deleeuw Law LLC, Wilmington, DE; David A. Jenkins, Robert K. Beste III, Smith, Katzenstein & Jenkins LLP, Wilmington, DE; Eduard Korsinsky, Gregory M. Nespole, Nicholas I. Porritt, Daniel Tepper, Levi & Korsinsky LLP, New York, NY; Jeffrey S. Abraham, Mitchell M. Z. Twersky, Atara Hirsch, Michael J. Klein, Abraham, Fruchter & Twersky, LLP, New York, NY; Lawrence P. Eagel, W. Scott Holleman, Melissa A. Fortunato, Marion C. Passmore, Bragar Eagel & Squire, P.C., New York, NY; Michael VanOverbeke, Vanoverbeke, Michaud & Timmony, P.C., Detroit, MI; Deborah Sturman, Sturman LLC, New York, NY for plaintiffs.
for defendant: Michael A. Pittenger, Jacqueline A. Rogers, Caneel Radinson-Blasucci, Potter Anderson & Corroon LLP, Wilmington, DE; Sandra C. Goldstein, Stefan Atkinson, Kevin M. Neylan, Jr., Kirkland & Ellis LLP, New York, NY; Matthew D. Stachel, Paul, Weiss, Rifkind, Wharton & Garrison LLP, Wilmington, DE; Daniel J. Kramer, Andrew J. Ehrlich, William A. Clareman, Paul, Weiss, Rifkind, Wharton & Garrison LLP, New York, NY for defendants.
Case Number: D69657
The court held that plaintiffs failed to plead sufficient allegations that a majority of the demand board was interested in a stock sale transaction such that demand would be excused.