• In re Bay Hills Emerging Partners I, L.P.

    Publication Date: 2018-07-18
    Practice Area: Civil Procedure | Contractual Disputes
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: A. Thompson Bayliss, E. Wade Houston, James C. Rutten, Erin J. Cox, Kevin M. Gallagher and Mark C. Goodman for plaintiffs
    for defendant: Brett D. Fallon, Patricia A. Winston, Travis J. Ferguson, Mark A. Cameli, Ryan S. Stippich and Brent A. Simerson for defend-ants.

    Case Number: D68217

    Limited partnership agreements contained forum selection causes which were permissive rather than mandatory, so the court denied defendants' motion to dismiss.

  • Basho Techs. Holdco B, LLC v. Georgetown Basho Invs., LLC

    Publication Date: 2018-07-18
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: R. Montgomery Donaldson and Robert A. Penza, Polsinelli PC, Wilmington, DE; Robert V. Spake, Polsinelli PC, Kansas City, MO, attorneys for plaintiffs
    for defendant: Barry M. Klayman, Cozen O'Connor, Wilmington, DE; Lezlie Madden, Cozen O'Connor, Philadelphia, PA, attorneys for defendants.

    Case Number: D68215

    Controlling stockholder breached fiduciary duties by forcing company to accept onerous financing terms from stockholder, which permitted stockholders to gain actual control of company and direct it to engage in unfair self-dealing transactions.

  • Alarm.com Holdings, Inc. v. ABS Capital Partners, Inc.

    Publication Date: 2018-06-27
    Practice Area: Contracts | Intellectual Property
    Industry: Investments and Investment Advisory | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Philip A. Rovner, Jonathan A. Choa, and Alan R. Silverstein, Potter Anderson & Corroon LLP, Wilmington, DE, attorneys for plaintiff
    for defendant: Raymond J. DiCamillo, Chad M. Shandler, Matthew W. Murphy, Richards, Layton & Finger, P.A., Wilmington, DE; Steven F. Barley, Andrea W. Trento, Hogan Lovells US LLP, Baltimore, MD, attorneys for defendants.

    Case Number: D68190

    Misappropriation claim failed where only circumstantial evidence involved defendant's investment in competing business, an act it was permitted to do under the parties' agreements.

  • Capone v. LDH Mgmt Holdings LLC

    Publication Date: 2018-05-09
    Practice Area: Corporate Entities
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Daniel A. Dreisbach and Ryan P. Durkin, Richards, Layton & Finger, PA, Wilmington, DE; Brendan V. Sullivan, Jr., Stephen L. Urbanczyk, Paul Mogin, Steven M. Cady, and Matthew H. Blumenstein, Williams & Connolly LLP, Washington, DC, attorneys for plaintiffs
    for defendant: Donald J. Wolfe, Jr., T. Brad Davey, and Seth R. Tangman, Potter Anderson & Corroon LLP, Wilmington, DE; Andrew Ditchfield, David B. Toscano, Edward Fu, and Sagar D. Thakur, Davis Polk & Wardwell LLP, New York, NY, attorneys for defendants.

    Case Number: D68134

    Cancellation certificate nullified where LLC failed to set aside reserve for viable, non-frivolous claims that it had knowledge of.

  • In re JMO Wind Down, Inc.

    Publication Date: 2018-05-02
    Practice Area: Bankruptcy
    Industry: Investments and Investment Advisory | Technology Media and Telecom
    Court: U.S. Bankruptcy Court
    Judge: Judge Shannon
    Attorneys: For plaintiff: Michael R. Nestor, Peter M. Gihuly and Andrew R. Gray for Jumio Acquisition; Adam G. Landis, Shanti M. Katona and George W. Shuster, Jr. for debtors and liquidating trustee
    for defendant: Matthew B. Heimann, Charles A. Stanziale, Jr. Steven A. Beckelman, Jeffrey T. Testa and Kate Roggio Buck for Bloso Investments; Leo D. Plotkin, Andrew John Roth-Moore, Christopher C. Cooke, Michael G. Busenkell, Bryan L. Bates, Charles E. Dorkey, III, Thomas F. Driscoll, III, Ian C. Bifferato, Kimberly Gattuso, Todd Charles Schiltz, Michael L. Bernstein, William P. Bowden and “J” Jackson Shrum for remaining parties.

    Case Number: D68121

    Bankruptcy court determined that a partys state court claims were derivative rather than direct claims, and therefore they belonged to the liquidating trustee.

  • Change Capital Partners Fund I, LLC v. Volt Elec. Sys., LLC

    Publication Date: 2018-04-18
    Practice Area: Civil Procedure | Contracts
    Industry: Investments and Investment Advisory
    Court: Delaware Superior Court
    Judge: Judge Cooch
    Attorneys: For plaintiff: Kate Harmon, Rafael X. Zahralddin, and Shelley A. Kinsella, Elliot Greenleaf, P.C., Wilmington, DE, attorneys for plaintiff
    for defendant: Marc S. Casarino, White and Williams LLP, Wilmington, DE, attorney for defendants.

    Case Number: D68110

    Contractual choice-of-law provision upheld where proposed default states did not have connection to underlying transaction nor did they have fundamental public policy contrary to chosen states law.

  • Carr v. New Enter. Assocs., Inc.

    Publication Date: 2018-04-11
    Practice Area: Corporate Governance
    Industry: Biotechnology | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Chancellor Bouchard
    Attorneys: For plaintiff: T. Brad Davey and Matthew A. Golden, Potter Anderson & Corroon LLP, Wilmington, DE; Barry S. Pollack and Joshua L. Solomon, Pollack Solomon Duffy LLP, Boston, MA, attorneys for plaintiff
    for defendant: Herbert W. Mondros and Krista R. Samis, Margolis Edelstein, Wilmington, DE; Michael f. Bonkowski and Nicholas J. Brannic, Cole Schotz P.C., Wilmington, DE; Roger A. Lane, Courtney Worcester, and Jasmine D. Coo, Foley & Lardner LLP, Boston, MA; Angelica Boutwell, Foley & Lardner LLP, Miami, FL, attorneys for defendants.

    Case Number: D68103

    Breach of fiduciary duty claims dismissed against parties not part of controlling stockholders control group, but maintained where demand excused by director conflicts that called transaction fairness into question.

  • KT4 Partners LLC v. Palantir Tech., Inc.

    Publication Date: 2018-03-07
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Software
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Bartholomew J. Dalton, Andrew C. Dalton, Barry S. Simon and Jonathan B. Pitt for plaintiff
    for defendant: Blake Rohrbacher, Kevin M. Gallagher, Kelly L. Freund, Kevin J. Orsini and Rory A. Leraris for defend-ant.

    Case Number: D68069

    A shareholder was not entitled to inspect corporate books or records where no valuation purpose was stated in the request, but the court found that the shareholder established a credible basis for obtaining records for an investigative purpose.

  • Dell, Inc. v. Magnetar Global Event Driven Master Fund Ltd.

    Publication Date: 2018-01-17
    Practice Area: Mergers and Acquisitions
    Industry: Hardware | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Chancellor Valihura
    Attorneys: For plaintiff: Gregory P. Williams, John D. Hendershot, Susan M. Hannigan, Andrew J. Peach, John L. Latham, Su-san E. Hurd, Gidon M. Caine and Charles W. Cox for Dell, Inc.
    for defendant: Stuart M. Grant, Michael J. Barry, Christine M. Mackintosh, Rebecca A. Musarra, Samuel T. Hirzel, II, Melissa N. Donimirski, Lawrence M. Rolnick and Steven M. Hecht for petitioners.

    Case Number: D68009

    In this appraisal proceeding, the trial court erred because its valuation did not flow from the factual findings and was not consistent with accepted financial principles.

  • Lavin v. West Corp.

    Publication Date: 2018-01-10
    Practice Area: Corporate Governance | Mergers and Acquisitions
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Peter B. Andrews, Craig J. Springer, David M. Sborz, Randall J. Baron, David T. Wissbroecker, Christopher H. Lyons and W. Scott Holleman for plaintiff
    for defendant: Kevin R. Shannon, Christopher N. Kelly, Daniel M. Rusk, Walter C. Carlson, Nilofer I. Umar and Elizabeth Y. Austin for de-fendant.

    Case Number: D68002

    A stockholder was entitled to request books and records to investigate possible breaches of fiduciary duty by corporate officers and directors where the stockholder presented some evidence of mismanagement or wrongdoing.