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  • Wright v. Silver Creek Pharm., Inc.

    Publication Date: 2024-04-08
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Pharmaceuticals
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Kevin M. Gallagher, Andrew L. Milam, Richards, Layton & Finger, P.A., Wilmington, DE, attorneys for plaintiff.
    for defendant: Lisa M. Zwally, Greenberg Traurig, LLP, Wilmington, DE, attorney for defendant.
    Case Number: 2023-1044-LWW

    Purported written consent in lieu of a meeting could not moot stockholders' request for an annual meeting where the law required the removal of incumbent directors before a non-unanimous written consent could fill the vacancies.

  • Sykes v. Touchstream Tech., Inc.

    Publication Date: 2024-04-08
    Practice Area: Corporate Entities
    Industry: Investments and Investment Advisory | Software
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Sean J. Bellew, Bellew LLC, Wilmington, DE; Scott C. McAdam, Law Office of Scott C. McAdam, Henderson, NV for plaintiffs.
    for defendant: Sean A. Meluney, William M. Alleman, Jr., Stephen A. Spence, Meluney Alleman & Spence, LLC, Lewes, DE for defendants.
    Case Number: 2022-0861-SG

    Court declined to dismiss declaratory judgment and breach of contract claims where plaintiff adequately alleged that defendants failed to fulfill their contractual obligations to provide plaintiff with his creditor and equity rights.

  • Harrison Metal Capital III, L.P. v. Math

    Publication Date: 2024-04-08
    Practice Area: Corporate Governance
    Industry: E-Commerce | Investments and Investment Advisory | Software
    Court: Court of Chancery
    Judge: Vice Chancellor Fioravanti
    Attorneys: For plaintiff: A. Thompson Bayliss, Eric A. Veres, Abrams & Bayliss LLP, Wilmington, DE for plaintiff.
    for defendant: Catherine A. Gaul, Samuel M. Gross, Ashby & Geddes, Wilmington, DE; Bruce L. Silverstein, Malibu, CA for defendants.
    Case Number: 2022-0261-PAF

    Litigation demand not futile where directors who would give plaintiff a majority lacked any personal or professional connection to the interested controller sufficient to call the directors' independence into question.

  • In re Carvana Co. Stockholders Litig.

    Publication Date: 2024-04-08
    Practice Area: Corporate Entities
    Industry: Automotive | E-Commerce | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Chancellor McCormick
    Attorneys: For plaintiff: Christine M. Mackintosh, Rebecca A. Musarra, Grant & Eisenhofer, P.A., Wilmington, DE; Kimberly A. Evans, Robert Erikson, Irene R. Lax, Block & Leviton LLP, Wilmington, DE; Jason M. Leviton, Amanda R. Crawford, Block & Leviton LLP, Boston, MA; Ned Weinberger, Mark Richardson, Jiahui (Rose) Wang, Labaton Keller Sucharow LLP, Wilmington, DE; Domenico Minerva, John Vielandi, Labaton Keller Sucharow LLP, New York, NY for plaintiffs.
    for defendant: Joseph R. Slights III, Brad D. Sorrels, Shannon E. German, Leah E. León, Wilson Sonsini Goodrich & Rosati, P.C., Wilmington, DE; David E. Ross, Adam D. Gold, R. Garrett Rice, Ross Aronstam & Moritz LLP, Wilmington, DE; Brian M. Lutz, Gibson, Dunn & Crutcher LLP, San Francisco, CA; Colin B. Davis, Katie Beaudin, Gibson, Dunn & Crutcher LLP, Irvine, CA; John L. Reed, Ronald N. Brown, III, Peter H. Kyle, Kelly L. Freund, DLA Piper LLP (US), Wilmington, DE for defendants.
    Case Number: 2020-0415-KSJM

    Court granted special litigation committee's motion to dismiss derivative action where members were sufficiently independent and disinterested and conducted a seven-month-long investigation that uncovered sufficient evidence to support the decision to move to dismiss.

  • City of Dearborn Police & Fire Revised Ret. Sys. v. Brookfield Asset Mgmt. Inc.

    Publication Date: 2024-04-08
    Practice Area: Mergers and Acquisitions
    Industry: Investments and Investment Advisory
    Court: Delaware Supreme Court
    Judge: Justice Valihura
    Attorneys: For plaintiff: Ned Weinberger, Mark Richardson, Brendan W. Sullivan, Labaton Sucharow LLP, Wilmington, DE; Peter B. Andrews, Craig J. Springer, David M. Sborz, Jackson E. Warren, Andrews & Springer LLC, Wilmington, DE; John Vielandi, Labtaton Sucharow LLP, New York, NY; Jeremy Friedman, David Tejtel, Friedman Oster & Tejtel PLLC, Bedford Hills, NY; Douglas E. Julie, W. Scott Holleman, Garam Choe, Julie & Holleman LLP, New York, NY; Brian J. Robbins, Stephen J. Oddo, Robbins LLP, San Diego, CA for appellants.
    for defendant: Kevin G. Abrams, Eric A. Veres, Abrams & Bayliss LLP, Wilmington, DE; John A. Neuwirth, Stefania D. Venezia, Amanda K. Pooler, Elizabeth M. Sytsma, Tanner S. Stanley, Weil, Gotshal & Manges LLP, New York, NY for appellees.
    Case Number: 241, 2023

    Chancery court erred in reviewing squeeze-out merger under business judgment review where proxy statement failed to disclose potential conflicts of interest of the special committee's financial and legal advisors.

  • Law Journal Press | Digital Book

    District of Columbia Legal Malpractice Law 2024

    Authors: Shari L. Klevens, Alanna G. Clair

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  • Agahi v. Kelly

    Publication Date: 2024-04-01
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory
    Court: Delaware Superior Court
    Judge: Judge Adams
    Attorneys: For plaintiff:
    for defendant:
    Case Number: N23C-07-144 MAA CCLD

    Complaint seeking payment of settlement consideration was an action at law rather than a request for specific performance, meaning jurisdiction was proper in the superior court rather than the chancery court.

  • In re: RGN-Group Holdings, LLC

    Publication Date: 2024-03-26
    Practice Area: Contracts
    Industry: Investments and Investment Advisory | Real Estate
    Court: U.S. Court of Appeals for the Third Circuit
    Judge: Judge Ambro
    Attorneys: For plaintiff: John Bash, Quinn Emanuel Urquhart & Sullivan, LLP, Austin, TX; Daniel C. Posner, Quinn Emanuel Urquhart & Sullivan, LLP, Los Angeles, CA; Eric W. Pinker, Lynn Pinker Hurst & Schwegmann, LLP, Dallas, TX; Ricardo Palacio, Ashby & Geddes, P.A., Wilmington, DE for appellants.
    for defendant: Nicole A. Saharsky, Minh Nguyen-Dang, Mayer Brown LLP, Washington, DC; Michael P. Lennon, Charles S. Kelley, Jr., Susan L. Alkadri, Mayer Brown LLP, Houston, TX; Bryan J. Hall, Chipman Brown Cicero & Cole, Wilmington, DE; Jeffrey M. Scott, Archer & Greiner, P.C., Philadelphia, PA for appellee.
    Case Number: 22-3019

    Original tenant could not be held liable under assigned lease which was amended by the landlord and assignee without the original tenant's knowledge or consent.

  • White Winston Select Asset Funds, LLC v. Good Times Rest., Inc.

    Publication Date: 2024-03-18
    Practice Area: Mergers and Acquisitions
    Industry: Food and Beverage | Hospitality and Lodging | Investments and Investment Advisory
    Court: U.S. Court of Appeals for the Third Circuit
    Judge: Judge Restrepo
    Attorneys: For plaintiff:
    for defendant:
    Case Number: 23-1297

    Seller did not breach implied covenant of good faith in negotiations simply by increasing its asking price, as non-binding letter of intent allowed parties to terminate negotiations except to breach exclusivity provision.

  • Urvan v. AMMO, Inc.

    Publication Date: 2024-03-11
    Practice Area: Mergers and Acquisitions
    Industry: Investments and Investment Advisory | Manufacturing | Retail
    Court: Court of Chancery
    Judge: Judge Wallace
    Attorneys: For plaintiff: Kevin M. Coen, Rachel R. Tunney, Morris, Nichols, Arsht & Tunnel LLP, Wilmington, DE; Nicholas Cutaia, Jaclyn Grodin, Goulston & Storrs PC, New York, NY; Joshua M. Looney, Nora A. Saunders, Goulston & Storrs PC, Boston, MA for plaintiff.
    for defendant: A. Thompson Bayliss, Peter C. Cirka, Abrams & Bayliss LLP, Wilmington, DE for defendants.
    Case Number: 2023-0470 PRW

    Although claimant had potentially known about facts underlying fraud/misrepresentation claims for some time, the court declined to apply laches to bar the claims where they were filed within the analogous statutes of limitations. Plaintiff's motion to dismiss denied; defendants' motion to dismiss granted in part and denied in part.

  • Stein v. Blankfein

    Publication Date: 2024-03-11
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Brian E. Farnan, Michael J. Farnan, Rosemary J. Piergiovanni, Farnan LLP, Wilmington, DE; A. Arnold Gershon, Michael A. Toomey, Barrack, Rodos & Bacine, New York, NY for plaintiff.
    for defendant: Kevin M. Gallagher, Robert L. Burns, Richards, Layton & Finger, P.A. Wilmington, DE; Kevin G. Abrams, Peter Shindel Jr., Matthew L. Miller, Abrams & Bayliss LLP, Wilmington, DE; Robert J. Giuffra, Jr., David M.J. Rein, Sullivan & Cromwell LLP, New York, NY for defendants.
    Case Number: 2017-0354-SG

    Law of the case precluded settlement objector's challenge to the adequacy of consideration where revised settlement merely deleted provisions improperly releasing future claims and the court had previously found the retained provisions fair and beneficial to the corporation and its stockholders.