• In re: Samson Res. Corp.

    Publication Date: 2024-06-03
    Practice Area: Bankruptcy
    Industry: Energy | Investments and Investment Advisory
    Court: U.S. District Court of Delaware
    Judge: District Judge Hall
    Attorneys: For plaintiff: J. Christopher Shore, Colin T. West, White & Case LLP, New York, NY; Michael J. Farnan, Farnan LLP, Wilmington, DE for appellant.
    for defendant: Daniel M. Stern, Samuel M. Kidder, KTBS Law LLP, Los Angeles, CA; Andrew J. Gallo, Nathaniel P. Bruhn, Morgan, Lewis & Bockius LLP, Boston, MA; Bryan Killian, Morgan, Lewis & Bockius LLP, Washington, DC; Michael R. Nestor, Michael S. Neiburg, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE for appellees.

    Case Number: 15-11934 (BLS)

    Court denied certification of direct appeal of bankruptcy order to the Third Circuit where the order did not announce a per se rule or conflict with settled precedent.

  • Ravich v. TCW, LLC

    Publication Date: 2024-05-13
    Practice Area: Personal Injury
    Industry: Investments and Investment Advisory
    Court: Delaware Superior Court
    Judge: Judge Rennie
    Attorneys: For plaintiff: Brian E. Farnan, Michael J. Farnan, Farnan LLP, Wilmington, DE; Thomas A. Clare, Jered T. Ede, Clare Locke LLP, Alexandria, VA for plaintiff.
    for defendant: Rudolf Koch, Sara M. Metzler, Richards, Layton & Finger, P.A., Wilmington, DE; John C. Hueston, Alison L. Plessman, Samantha Fidler, Adam Minchew, Nicholas Kellum, Hueston Hennigan LLP, Los Angeles, CA, & New York, NY for defendant.

    Case Number: N23C-10-005 SKR

    Court dismissed defamation action arising out of employment relationship pursuant to forum selection clause in the employment agreement.

  • City of Sarasota Firefighters' Pension Fund v. Inovalon Holdings, Inc.

    Publication Date: 2024-05-13
    Practice Area: Mergers and Acquisitions
    Industry: E-Commerce | Health Care | Investments and Investment Advisory
    Court: Delaware Supreme Court
    Judge: Justice Valihura
    Attorneys: For plaintiff: Ned Weinberger, Brendan W. Sullivan, Labaton Sucharow LLP, Wilmington, DE; John Vielandi, Labaton Sucharow LLP, New York, NY; Jeremy Friedman, David Tejtel, Friedman Oster & Tejtel PLLC, Bedford Hills, NY; Lee D. Rudy, Eric L. Zagar, J. Daniel Albert, Geoffrey C. Jarvis, Grant D. Goodhart, III, Kessler Topaz Meltzer & Check, LLP, Radnor, PA for appellants.
    for defendant: Raymond J. DiCamillo, Kevin M. Gallagher, Craig K. Ferrere, Richards, Layton & Finger, P.A., Wilmington, DE; William M. Lafferty, Ryan D. Stottmann, Alexandra M. Cumings, Morris Nichols Arsht & Tunnell LLP, Wilmington, DE; Blair Connelly, Latham & Watkins LLP, New York, NY; Kristin N. Murphy, Ryan A. Walsh, Latham & Watkins LLP, Costa Mesa, CA for appellees.

    Case Number: 2022-0698

    Court reversed dismissal of action challenging corporate acquisition where proxy statement failed to disclose advisors' conflicts of interest and erroneously described the advisors' roles in the transaction.

  • In re: Zohar III Corp.

    Publication Date: 2024-05-13
    Practice Area: Bankruptcy
    Industry: Investments and Investment Advisory
    Court: U.S. Court of Appeals for the Third Circuit
    Judge: Judge Chagares
    Attorneys: For plaintiff:
    for defendant:

    Case Number: 23-2549

    Settlement agreement arising from bankruptcy mediation did not evidence the parties' intent to waive confidentiality protections under local bankruptcy rules.

  • City of Pittsburgh Comprehensive Mun. Pension Trust Fund v. Conway

    Publication Date: 2024-05-06
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Zurn
    Attorneys: For plaintiff: Joel Friedlander, Jeffrey M. Gorris, Christopher M. Foulds, Friedlander & Gorris, P.A., Wilmington, DE; Christopher H. Lyons, Tayler D. Bolton, Robbins Geller Rudman & Dowd LLP, Wilmington, DE; Randall J. Baron, Benny C. Goodman III, Andrew W. Hutton, Robbins Geller Rudman & Dowd LLP, San Diego, CA; Gladriel Shobe, Jarrod Shobe, Shobe & Shobe, LLP, Provo, UT for plaintiff.
    for defendant: Blake Rohrbacher, Matthew D. Perri, Nicole M. Henry, Morgan R. Harrison, Richards, Layton & Finger, P.A., Wilmington, DE; Robert A. Van Kirk, John Williams, Tyler Infinger, Bryan Czako, William Donnelly, Williams & Connolly LLP, Washington, DC for defendants.

    Case Number: 2022-0664-MTZ

    Plaintiff adequately pled breach of contractual duty of good faith when general partner concealed information indicating that equityholders lacked legal leverage to force a settlement payment for the loss of tax receivable agreement rights in exchange for their approval of the corporate conversion.

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  • Handler v. Centerview Partners Holdings L.P.

    Publication Date: 2024-05-06
    Practice Area: Corporate Entities
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: C. Barr Flinn, Elisabeth S. Bradley, Kevin P. Rickert, Zeliang Liu, Hana Brajuskovic, Elena C. Norman, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE for plaintiff.
    for defendant: Michael A. Barlow, Hayden Driscoll, Quinn Emanuel Urquhart & Sullivan, LLP, Wilmington, DE for defendant.

    Case Number: 2022-0672-SG

    Plaintiff was not entitled to books and records where record supported finding that parties had failed to reach agreement on essential terms to induct plaintiff as a partner and continued to regard him as an employee.

  • Ramco Asset Mgmt., LLC v. USA Rare Earth, LLC

    Publication Date: 2024-05-06
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Mining and Resources
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: David A. Felice, Bailey & Glasser, LLP, Wilmington, DE; Andrew St. Laurent, Harris St. Laurent & Wechsler LLP, New York, NY for plaintiffs.
    for defendant: John M. Seaman, E. Wade Houston, Abrams & Bayliss LLP, Wilmington, DE; Chelsea Corey, King & Spalding LLP, Charlotte, NC; Carl D. Neff, Pierson Ferdinand LLP, Wilmington, DE; Aurora Cassirer, Christina H. Bost Seaton, FisherBroyles, LLP, New York, NY; Karen E. Keller, Andrew E. Russell, Nathan R. Hoeschen, Shaw Keller LLP, Wilmington, DE; Justin L. Ormand, Allen & Overy, New York, NY; Patrick W. Pearsall, Allen & Overy, Washington, DC for defendants.

    Case Number: 2022-0665-SG

    Court declined to dismiss contract and good faith/fair duty claims where plaintiffs plausibly alleged that defendants breached their promise to convert plaintiffs' equity holdings to an identical equity percentage in the new entity.

  • Soleimani v. Hakkak

    Publication Date: 2024-04-29
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Brian C. Ralston, T. Brad Davey, Charles P. Wood, Abraham C. Schneider, Potter Anderson & Corroon LLP, Wilmington, DE; Douglas P. Baumstein, Ellen Shapiro, Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C., New York, NY for plaintiffs.
    for defendant: Blake Rohrbacher, Mari Boyle, Morgan R. Harrison, Richards, Layton & Finger, P.A., Wilmington, DE; Anthony M. Candido, Clifford Chance US LLP, New York, NY for defendants.

    Case Number: 2023-0948-LWW MEMORANDUM OPINION Date Submitted:

    Plaintiff's removal as an employee and manager of LLCs was ineffective where the operating agreements established payment of the fair market value of plaintiff's revenue share as a condition precedent to removal.

  • Chumash Capital Inv., LLC v. Grand Mesa Partners, LLC

    Publication Date: 2024-04-22
    Practice Area: Securities Litigation
    Industry: Investments and Investment Advisory
    Court: Delaware Superior Court
    Judge: Judge Rennie
    Attorneys: For plaintiff: Kevin R. Shannon, Christopher N. Kelly, Justin T. Hymes, Esquire, Potter Anderson & Corroon LLP, Wilmington, DE; William C. O’Neil, Jeffrey J. Huelskamp, Gretchen Scavo, Winston & Strawn LLP, Chicago, IL; Marisa E. Witter, Winston & Strawn LLP, Houston, TX for plaintiff.
    for defendant: Rudolf Koch, Travis S. Hunter, Alexander M. Krischik, Elizabeth J. Freud, Griffin A. Schoenbaum, Richards, Layton & Finger, P.A., Wilmington, DE; James G. Sawtelle, Sherman & Howard L.L.C., Denver, CO; R. Montgomery Donaldson, Montgomery, McCracken, Walker & Rhoads, LLP, Wilmington, DE; B. John Casey, Ryan H. Tamm, Stoel Rives LLP, Portland, OR for defendants.

    Case Number: N23C-07-209 SKR CCLD

    Court declined to dismiss fraud claims as untimely under contractual limitations period where the parties' contract expressly exempted fraud claims from the scope of the contractual indemnity provisions containing the survival clauses.

  • In re Match Group, Inc. Derivative Litig.

    Publication Date: 2024-04-15
    Practice Area: Mergers and Acquisitions
    Industry: E-Commerce | Investments and Investment Advisory | Technology Media and Telecom
    Court: Delaware Supreme Court
    Judge: Justice Seitz
    Attorneys: For plaintiff: Michael Hanrahan, J. Clayton Athey, Corinne Elise Amato, Kevin H. Davenport, Stacey A. Greenspan, Jason W. Rigby, Prickett, Jones & Elliott, P.A., Wilmington, DE; Lee D. Rudy, Eric L. Zagar, J. Daniel Albert, Maria T. Starling, Kessler Topaz Meltzer & Check, LLP, Radnor, PA; Robert D. Klausner, Klausner, Kaufman, Jensen & Levinson, Plantation, FL for appellants.
    for defendant: William M. Lafferty, John P. DiTomo, Elizabeth A. Mullin, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Theodore N. Mirvis, Jonathan M. Moses, Ryan A. McLeod, Alexandra P. Sadinsky, Canem Ozyildirim, Wachtell, Lipton, Rosen & Katz, New York, NY; Blake Rohrbacher, Matthew W. Murphy, Sandy Xu, Richards, Layton & Finger, P.A., Wilmington, DE; Maeve O’Connor, Susan R. Gittes, Amy C. Zimmerman, Debevoise & Plimpton LLP, New York, NY; David E. Ross, Adam D. Gold, Ross Aronstam & Moritz LLP, Wilmington, DE; Joshua G. Hamilton, Meryn C.N. Grant, Latham & Watkins LLP, Los Angeles, CA; Blair Connelly, Latham & Watkins LLP, New York, NY; Michele D. Johnson, Latham & Watkins LLP, Costa Mesa, CA for appellees.

    Case Number: 368, 2022

    Chancery court erroneously applied business judgment rule to review transaction where controlling stockholder stood on both sides and received a non-ratable benefit where not all members of the company's separation committee were independent from the controller.