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Publication Date: 2024-11-26
Practice Area: Corporate Governance
Industry: Manufacturing | Technology Media and Telecom
Court: U.S. District Court of Delaware
Judge: District Judge Burke
Attorneys: For plaintiff: Antranig Garibian, Garibian Law Offices, P.C., Wilmington, DE; T.J. Jesky, Law Office of T.J. Jesky, Chicago, IL for plaintiffs.
for defendant: Ryan D. Stottmann, Emily C. Friedman, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE for defendant.
Case Number: 23-435-CJB
Forum selection clause in corporate bylaws designating chancery court as exclusive forum covered putative stockholder's claims seeking to order corporation to reissue their stock certificate.
Publication Date: 2024-11-19
Practice Area: Contracts
Industry: Entertainment and Leisure | Technology Media and Telecom
Court: Delaware Superior Court
Judge: Judge Wharton
Attorneys: For plaintiff: David Holloway, Holloway Law LLC, Wilmington, DE for plaintiff.
for defendant: R. Karl Hill, Seitz, Van Ogtrop & Green, P.A., Wilmington, DE for defendant.
Case Number: N24C-05-247 FWW
Fraudulent inducement claim failed where plaintiff could not identify damages distinct from those it allegedly suffered as a result of defendant's breach of the parties' agreement.
Publication Date: 2024-11-19
Practice Area: Corporate Governance
Industry: Investments and Investment Advisory | Technology Media and Telecom
Court: Court of Chancery
Judge: Vice Chancellor Fioravanti
Attorneys: For plaintiff: Gregory V. Varallo, Andrew E. Blumberg, Daniel E. Meyer, Bernstein Litowitz Berger & Grossmann LLP, Wilmington, DE; Christopher J. Orrico, Shiva Mohan, Bernstein Litowitz Berger & Grossmann LLP, New York, NY; Jeremy S. Friedman, David F.E. Tejtel, Alexander M. Krischik, David A. Rosenfeld, Friedman Oster & Tejtel PLLC, Bedford Hills, NY; Joel Fleming, Lauren Godles Milgroom, Equity Litigation Group LLP, Boston, MA; D. Seamus Kaskela, Adrienne Bell, Kaskela Law LLC, Newtown Square, PA for plaintiff;
for defendant: Brad D. Sorrels, Andrew D. Cordo, Nora M. Crawford, Lauren G. DeBona, Jacqueline G. Conner, Wilson Sonsini Goodrich & Rosati P.C., Wilmington, DE; Colleen C. Smith, Latham & Watkins LLP, San Diego, CA; Blair Connelly, Zachary L. Rowen, Thomas Giblin, Latham & Watkins LLP, New York, NY; Ryan A. Walsh, Latham & Watkins LLP, Costa Mesa, CA; David J. Berger, Wilson Sonsini Goodrich & Rosati P.C., Palo Alto, CA for defendants.
Case Number: 2024-1029-PAF
Court declined to apply supermajority voting requirement under article of company's certificate of incorporation where it lacked language specifying its applicability to all possible forms of reincorporation.
Publication Date: 2024-11-12
Practice Area: Mergers and Acquisitions
Industry: Investments and Investment Advisory | Technology Media and Telecom
Court: Court of Chancery
Judge: Vice Chancellor Glasscock
Attorneys: For plaintiff: Ned Weinberger, Mark Richardson, Labaton Sucharow LLP, Wilmington, DE; Jeroen van Kwawegen, Edward G. Timlin, Eric J. Riedel, Bernstein Litowitz Berger & Grossmann LLP, New York, NY for plaintiff.
for defendant: Rudolf Koch, Kevin M. Gallagher, Daniel E. Kaprow, John M. O’Toole, Richards, Layton & Finger, P.A., Wilmington, DE; Thomas Uebler, McCollom D’Emilio Smith Uebler LLC, Wilmington, DE; Jason Cyrulnik, Paul Fattaruso, Matthew Henken, Cyrulnik Fattaruso LLP, New York, NY for defendants.
Case Number: 2017-0486-SG
Court denied plaintiff representative's motion to shift legal fees and costs where the court only awarded nominal damages and thus the stockholder class received no meaningful benefit, and where plaintiff's counsel litigated the case under a contingency arrangement.
Publication Date: 2024-11-12
Practice Area: Corporate Governance
Industry: E-Commerce | Technology Media and Telecom
Court: Court of Chancery
Judge: Chancellor McCormick
Attorneys: For plaintiff: John L. Reed, Peter H. Kyle, Daniel P. Klusman, DLA Piper LLP (US), Wilmington, DE for plaintiffs.
for defendant: Scott James Leonhardt, The Rosner Law Group LLC, Wilmington, DE for defendant.
Case Number: 2023-0684-LM
Court dismissed books and records inspection requests for failures to comply with the form-and-manner requirements of §220.
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Publication Date: 2024-11-05
Practice Area: Corporate Governance
Industry: E-Commerce | Technology Media and Telecom
Court: Court of Chancery
Judge: Vice Chancellor Will
Attorneys: For plaintiff: Samuel L. Closic, Seth T. Ford, Prickett, Jones & Elliott, P.A., Wilmington, DE; Brian J. Robbins, Stephen J. Oddo, Gregory E. Del Gaizo, Michael J. Nicoud, Eric M. Carrino, Robbins LLP, San Diego, CA; Daniel B. Rehns, Scott Jacobsen, Hach Rose Schirripa & Cheverie, New York, NY for plaintiff.
for defendant: Garrett B. Moritz, Dylan T. Mockensturm, Benjamin M. Whitney, Ross Aronstam & Moritz LLP, Wilmington, DE; William Savitt, Anitha Reddy, Adam M. Gogolak, Alexis J. Abboud, Wachtell, Lipton, Rosen & Katz, New York, NY for defendant.
Case Number: 2023-1251-BWD
Court denied stockholder's books and records inspection request where it failed to specifically allege corporate wrongdoing and instead made vague and overbroad allegations of mismanagement.
Publication Date: 2024-11-05
Practice Area: Mergers and Acquisitions
Industry: Investments and Investment Advisory | Technology Media and Telecom
Court: Court of Chancery
Judge: Vice Chancellor Will
Attorneys: For plaintiff: Kimberly A. Evans, Lindsey K. Faccenda, Irene R. Lax, Robert Erikson, Block & Leviton LLP, Wilmington, DE for plaintiff.
for defendant: S. Michael Sirkin, Benjamin M. Whitney, Ross Aronstam & Moritz LLP, Wilmington, DE for defendant.
Case Number: 2023-0873-LWW
Court denied plaintiff's motion to compel production of documents where plaintiff had made an overbroad request for documents, with the court instead allowing defendants to produce documents under technology assisted review.
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