• Howland v. Kumar

    Publication Date: 2019-06-26
    Practice Area: Corporate Governance
    Industry: Biotechnology | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor McCormick
    Attorneys: For plaintiff: Sidney S. Liebesman, Johnna M. Darby and Wali W. Rushdan II, Fox Rothschild LLP, Wilmington, DE for plaintiff.
    for defendant: Bradley D. Sorrels and Daniyal M. Iqbal, Wilson Sonsini Goodrich & Rosati, P.C., Wilmington, DE for individual defendants. Stephen E. Jenkins, Ashby & Geddes, P.A., Wilmington, DE for nominal defendant Anixa Biosciences, Inc.

    Case Number: D68611

    In this derivative action, a stockholder alleged sufficient facts to support an inference that defendant directors and officers breached their fiduciary duty.

  • Shareholder Representative Services LLC v. RSI Holdco, LLC

    Publication Date: 2019-06-19
    Practice Area: Mergers and Acquisitions
    Industry: Aerospace | Investments and Investment Advisory | Legal Services
    Court: Court of Chancery
    Judge: Vice Chancellor McCormick
    Attorneys: For plaintiff: Rudolf Koch, Susan M. Hannigan and Matthew W. Murphy, Richards, Layton & Finger, P.A., Wilmington, DE; Christopher F. Robertson and Alison K. Eggers, Seyfarth Shaw LLP, Boston, MA for plaintiff and third-party defendants.
    for defendant: John P. DiTomo and Jarrett W. Horowitz, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Roberto M. Braceras, Adam Slutsky and Ezekiel L. Hill of Goodwin Procter LLP, Boston, MA for defendants.

    Case Number: D68604

    The parties' merger agreement contained a provision which preserved the attorney-client privilege regarding pre-merger communications between sellers and their attorney.

  • Ritchie CT Opps, LLC v. Huizenga Mangers Fund, LLC

    Publication Date: 2019-06-19
    Practice Area: Contractual Disputes
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: John A. Sensing and Ryan C. Cicoski, Potter Anderson & Corroon LLP, Wilmington, DE for plaintiff.
    for defendant: Steven L. Caponi, K&L Gates LLC, Wilmington, DE; Gary W. Garner and Jonathan Miller, Williams Montgomery & John Ltd., Chicago, IL for defendant.

    Case Number: D68603

    Plaintiffs lacked standing to pursue relief on behalf of third parties, and the absolute litigation privilege prevented a court in equity from specifically enforcing a contractual non-disparagement.

  • Greenhouse v. Polychain Fund I LP

    Publication Date: 2019-06-12
    Practice Area: Corporate Entities
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Joseph H. Huston, Jr. and Stacey A. Scrivani, Stevens & Lee, P.C., Wilmington, DE; Todd C. Toral and AnnaMarie A. VanHoesen, Jenner & Block LLP, Los Angeles, CA for plaintiff.
    for defendant: Jeffrey M. Gorris and Christopher P. Quinn, Friedlander & Gorris, P.A., Wilmington, DE; J. Noah Hagey and Taylor Altman, Braunhagey & Borden LLP, New York, NY for defendants.

    Case Number: D68593

    A former limited partner no longer had standing to request books and records, because his interest in the company was fully redeemed at the time of the request.

  • Stein v. Blankfein

    Publication Date: 2019-06-12
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Bruce E. Farnan, Michael J. Farnan and Rosemary J. Piergiovanni, Farnan LLP, Wilmington, DE; A. Arnold Gershon and Mi-chael A. Toomey, Barrack, Rodos & Bacine, New York, NY for plaintiff.
    for defendant: Kevin G. Abrams, J. Peter Shindel, Jr. and Matthew L. Miller, Abrams & Bayliss LLP, Wilmington, DE; Robert J. Guiffra, Jr. and David M.J. Rein, Sullivan & Cromwell LLP, New York, NY for director defendants. Gregory V. Varallo, Kevin M. Gallagher and Robert L. Burns, Richards, Layton & Finger, P.A., Wilmington, DE for The Goldman Sachs Group, Inc.

    Case Number: D68597

    The entire fairness standard of review applied to the question of director self-compensation.

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  • AG Oncon, LLC v. Ligand Pharm. Inc.

    Publication Date: 2019-06-05
    Practice Area: Securities Litigation
    Industry: Investments and Investment Advisory | Pharmaceuticals
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Elena C. Norman and Daniel M. Kirshenbaum, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; Keith N. Sambur, Martin G. Durkin, and Andrew T. Gillespie, Holland & Knight, LLP, New York, NY for plaintiffs
    for defendant: David E. Ross, Jr. and R. Garrett Rice, Ross Aronstam & Moritz LLP, Wilmington, DE; Blair Connelly and Zachary L. Rowen, Latham & Watkins LLP, New York, NY for defendant.

    Case Number: D68582

    Convertible note issuer could amend indenture's conversion formula where indenture expressly authorized issuer to conform to the terms of the offering memorandum.

  • Shareholder Representative Serv. LLC v. RSI Holdco, LLC

    Publication Date: 2019-06-05
    Practice Area: Mergers and Acquisitions
    Industry: Investments and Investment Advisory | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor McCormick
    Attorneys: For plaintiff: Rudolf Koch, Susan M. Hannigan and Matthew W. Murphy, Richards, Layton & Finger, P.A., Wilmington, DE; Christopher F. Robertson and Alison K. Eggers, Seyfarth Shaw LLP, Boston, MA for plaintiffs and third-party defendants
    for defendant: John P. DiTomo and Jarrett W. Horowitz, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Roberto M. Braceras, Adam Slutsky and Ezekiel L. Hill, Goodwin Procter LLP, Boston, MA for defendants/third-party plaintiffs

    Case Number: D68588

    In this merger litigation, defendants named only some stockholders in their third-party complaint, but the court dismissed de-fendants' request for rescission because all of the stockholders were indispensable parties. Defendants' unjust enrichment claim survived a motion to dismiss.

  • Germaninvestments AG v. Allomet Corp.

    Publication Date: 2019-06-05
    Practice Area: Contractual Disputes
    Industry: Investments and Investment Advisory | Manufacturing
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: R. Craig Martin, Ethan H. Townsend and Peter H. Kyle, Wilmington, DE for plaintiffs
    for defendant: John P. DiTomo, Ryan D. Stottmann and Coleen Hill, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE for defendants

    Case Number: D68585

    A forum selection clause in the parties' agreement was mandatory. Motion to dismiss granted, without prejudice.

  • Mehta v. Mobile Posse, Inc.

    Publication Date: 2019-05-22
    Practice Area: Mergers and Acquisitions
    Industry: Advertising | Investments and Investment Advisory | Software
    Court: Court of Chancery
    Judge: Vice Chancellor McCormick
    Attorneys: For plaintiff: Marcus E. Montejo and John G. Day, Prickett, Jones & Elliott, P.A., Wilmington, DE for plaintiff.
    for defendant: Rafael X. Zahralddin and Jonathan M. Stemerman, Elliott Greenleaf, P.C., Wilmington, DE for defendants.

    Case Number: D68470

    In this case involving a corporate merger, the company and its board were not entitled to judgment on the pleadings where they did not comply with statutory notice requirements regarding appraisal rights.

  • Leaf Invenergy Co. v. Invenergy Renewables LLC

    Publication Date: 2019-05-22
    Practice Area: Damages | Deals and Transactions
    Industry: Energy | Investments and Investment Advisory
    Court: Delaware Supreme Court
    Judge: Justice Traynor
    Attorneys: For plaintiff: Bradley D. Sorrels, Shannon E. German, Andrew D. Berni, Keith E. Eggleton, Steven D. Guggenheim and David A. McCarthy, Wilson Sonsini Goodrich & Rosati, P.C., Wilmington, DE and Palo Alto, CA for plaintiff.
    for defendant: Kenneth J. Nachbar, Kevin M. Coen, Zi-Xiang Shen and Coleen W. Hill, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Bruce S. Sperling, Harvey J. Barnett and Eamon P. Kelly, Sperling & Slater, P.C., Chicago, IL for defendant.

    Case Number: D68469

    The parties' agreement unambiguously required consent or the redemption of shares in the event of a sale, and because de-fendant chose to do neither, plaintiff was entitled to damages.