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  • AP-fonden v. Activision Blizzard, Inc.

    Publication Date: 2024-04-01
    Practice Area: Mergers and Acquisitions
    Industry: Technology Media and Telecom
    Court: Court of Chancery
    Judge: Chancellor McCormick
    Attorneys: For plaintiff: Michael Hanrahan, Corinne Elise Amato, Kevin H. Davenport, Stacey A. Greenspan, Christine N. Chappelear, Prickett, Jones & Elliott, P.A., Wilmington, DE; Lee D. Rudy, Eric L. Zagar, J. Daniel Albert, Kessler Topaz Meltzer & Check, LLP, Radnor, PA for plaintiff.
    for defendant: Edward B. Micheletti, Lauren N. Rosenello, Michelle L. Davis, Peyton V. Carper, Claire K. Atwood, Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington, DE; Elena C. Norman, Daniel M. Kirshenbaum, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; Stephen P. Blake, Laura Lin, Simpson Thacher & Bartlett LLP, Palo Alto, CA; Sareen K. Armani, Simpson Thacher & Bartlett LLP, Los Angeles, CA for defendants.
    Case Number: 2022-1001-KSJM

    Although the Delaware General Corporation Law only required a corporate board to approve and recommend an essentially complete version of a merger agreement, the draft version approved by defendants failed to meet this standard by omitting key terms and ancillary documents repeatedly referenced throughout the agreement.

  • Palkon v. Maffei

    Publication Date: 2024-04-01
    Practice Area: Corporate Governance
    Industry: E-Commerce | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Gregory V. Varallo, Andrew E. Blumberg, Mae Oberste, Daniel E. Meyer, Bernstein Litowitz Berger & Grossmann LLP, Wilmington, DE; Kimberly A. Evans, Lindsay K. Faccenda, Irene R. Lax, Robert Erickson, Block & Leviton LLP, Wilmington, DE; Jeroen van Kwawegen, Bernstein Litowitz Berger & Grossmann LLP, New York, NY; Jeremy Friedman, David Tejtel, Christopher Windover, Lindsay La Marca, Friedman Oster & Tejtel PLLC, Bedford Hills, NY; Jason Leviton, Block & Leviton LLP, Boston, MA; D. Seamus Kaskela, Adrienne Bell, Kaskela Law LLC, Newtown Square, PA for plaintiffs.
    for defendant: Kevin R. Shannon, J. Matthew Belger, Jaclyn C. Levy, Christopher D. Renaud, Justin T. Hymes, Potter Anderson & Corroon LLP, Wilmington, DE; Matthew W. Close, Jonathan B. Waxman, O’Melveny & Myers LLP, Los Angeles, CA; Abby F. Rudzin, Asher Rivner, O’Melveny & Myers LLP, NY, New York; Bradley R. Aronstam, S. Michael Sirkin, Ross Aronstam & Moritz LLP, Wilmington, DE; John A. Neuwirth, Evert J. Christensen, Jr., Stefania D. Venezia, Weil, Gotshal & Manges LLP, New York, NY for defendants.
    Case Number: 2023-0449-JTL

    Court declined to certify order denying motion to dismiss where the order did not decide novel legal issues or issues of substantial importance and where interlocutory review was unlikely to materially advance the resolution of the litigation.

  • Averon US, Inc. v. AT&T Corp.

    Publication Date: 2024-03-26
    Practice Area: Intellectual Property
    Industry: Software | Technology Media and Telecom
    Court: U.S. District Court of Delaware
    Judge: District Judge Hughes
    Attorneys: For plaintiff: Tracy L. Pearson, Dunlap Bennett & Ludwig PLLC, Wilmington, DE; Joseph Diamante, Dunlap Bennett & Ludwig PLLC, New York, NY; Raymond Jones, Dunlap Bennett & Ludwig PLLC, Leesburg, VA; William Flachsbart, Mark Magas, Dunlap Bennett & Ludwig PLLC, Chicago, IL for plaintiff.
    for defendant: Frederick L. Cottrell, III, Jason James Rawnsley, Richards, Layton & Finger, PA, Wilmington, DE; David S. Almeling, O’Melveny & Myers LLP, San Francisco, CA; Timothy S. Durst, O’Melveny & Myers LLP, Dallas, TX for defendants.
    Case Number: 1:22-cv-01341-TMH

    Court declined to dismiss trade secret claims where the parties' contracts could be reasonably interpreted to impose a duty of confidentiality upon defendant to protect plaintiff's disclosed proprietary technology.

  • Malkani v. Cunningham

    Publication Date: 2024-03-11
    Practice Area: Securities Litigation
    Industry: Health Care | Investments and Investment Advisory | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Philip Trainer, Jr., Marie M. Degnan, Randall J. Teti, Ashby & Geddes, Wilmington, DE; Marcos D. Jimenez, Marcos D. Jimenez, P.A., Miami, FL for plaintiffs.
    for defendant: Ryan P. Newell, Lakshmi A. Muthu, Tara C. Pakrouh, Michael A. Carbonara, Jr., Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; Michael C. Heyden, Jr., Joseph E. Brenner, Gordon Rees Scully Mansukhani, LLP, Wilmington, DE for defendants.
    Case Number: 2020-1004-SG

    Although defendant prevailed on some claims asserted by plaintiff, plaintiff was the prevailing party in the overall litigation as the central issue in the case was the validity and enforceability of the parties' contracts, and thus plaintiff was entitled to legal fees and costs under the contractual fee-shifting provisions.

  • Bailey v. Tektronix, Inc.

    Publication Date: 2024-03-11
    Practice Area: Mergers and Acquisitions
    Industry: E-Commerce | Manufacturing | Technology Media and Telecom
    Court: U.S. District Court of Delaware
    Judge: District Judge Williams
    Attorneys: For plaintiff: Robert Karl Beste, III, Jason Z. Miller, Smith, Katzenstein, & Jenkins LLP, Wilmington, DE for plaintiff.
    for defendant: Anthony David Raucci, Donna Lynn Culver, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE for defendant.
    Case Number: 21-1268-GBW

    Retention holdback agreement breached where reasonable interpretation of definition of qualifying revenue meant that the acquiring company hit the revenue goals to trigger the payout.

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  • Buck v. Viking Holding Mgmt. Co. LLC

    Publication Date: 2024-02-26
    Practice Area: Contractual Disputes
    Industry: Accounting | Consulting | Technology Media and Telecom
    Court: Delaware Superior Court
    Judge: Judge Adams
    Attorneys: For plaintiff: John M. LaRosa, LaRosa & Associates LLC, Wilmington, DE; Lawrence P. Schaefer, Bert Black, Mack H. Reed, Timothy S. Christensen, Anne C. Bolgert, Schaeffer Halleeen, LLC, Minneapolis, MN for plaintiff.
    for defendant: Peter H. Kyle, John L. Reed, Daniel P. Klusman, DLA Piper, LLP, Wilmington, DE for defendant.
    Case Number: N20C-08-249 MAA CCLD

    Court denied parties' cross-motions for summary judgment where finding cause for termination was a condition precedent to employer's option to repurchase employee's equity at original cost and where there were genuine issues of material fact as to whether cause existed.

  • Mercury Partners Mgmt., LLC v. Valo Health, Inc.

    Publication Date: 2024-02-19
    Practice Area: Mergers and Acquisitions
    Industry: Health Care | Investments and Investment Advisory | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Zurn
    Attorneys: For plaintiff: Brian E. Farnan, Farnan LLP, Wilmington, DE for plaintiff.
    for defendant: Rudolf Koch, Richards, Layton & Finger, P.A., Wilmington, DE for defendant.
    Case Number: 2023-0318-MTZ

    Court declined interlocutory review where appeal did not raise novel or conflicting issues of law regarding decision to decline specific performance on a best efforts clause.

  • In re: AMC Investors, LLC

    Publication Date: 2024-01-29
    Practice Area: Bankruptcy
    Industry: Electronics | Investments and Investment Advisory | Technology Media and Telecom
    Court: U.S. District Court of Delaware
    Judge: District Judge Andrews
    Attorneys: For plaintiff: Mark D. Collins, Marcos A. Ramos, Cory Kandestin, Richards, Layton & Finger, P.A., Wilmington, DE; Mitchell A. Karlan, Paul J. Kremer, Gibson, Dunn & Crutcher LLP for appellants.
    for defendant: Curtis Miller, Daniel B. Butz, Jonathan M. Weyland, Morris Nichols, Arsht & Tunnell LLP, Wilmington, DE; James A. Bombulie, Dustin B. Hillsley, Akerman, LLP, Miami, FL; Brian P. Miller, King & Spalding LLP, Miami, FL for appellees.
    Case Number: 22-179-RGA

    Statute of limitations barred adversary complaints filed on behalf of debtors by their creditor where creditor's prior lawsuit against debtors based on the same factual predicate put debtors on notice of the claims raised in the adversary proceeding.

  • In re Fox Corp.

    Publication Date: 2024-01-29
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Technology Media and Telecom
    Court: Delaware Supreme Court
    Judge: Justice Seitz
    Attorneys: For plaintiff: Gregory V. Varallo, Daniel E. Meyer, Bernstein Litowitz Berger & Grossmann LLP, Wilmington, DE; Mark Lebovitch, Edward G. Timlin, Bernstein Litowitz Berger & Grossmann LLP, New York, NY for appellants.
    for defendant: William B. Chandler III, Brad D. Sorrels, Amy L. Simmerman, Daniyal M. Iqbal, Nora M. Crawford, Wilson Sonsini Goodrich & Rosati, P.C., Wilmington, DE; Mark R. Yohalem, Wilson Sonsini Goodrich & Rosati, P.C., Los Angeles, CA; William M. Lafferty, Susan W. Waesco, Alexandra M. Cumings, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE for appellees.
    Case Number: 2022-1007

    Ability to sue corporate officers for fiduciary violations was not a "power, preference, or special right" of a class of stock and thus a proposed amendment to add an officer exculpation clause did not require a separate class vote under the Delaware General Corporation Law.

  • Chordia v. Lee

    Publication Date: 2024-01-15
    Practice Area: Corporate Governance
    Industry: Electronics | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Cook
    Attorneys: For plaintiff: Bradley R. Aronstam, R. Garrett Rice, Holly E. Newell, Ross Aronstam & Moritz LLP, Wilmington, DE; Brian M. Burnovski, Andrew Ditchfield, Pascale Bibi, Nikolaus J. Williams, Marie Killmond, Danielle Mullery, Davis Polk & Wardwell LLP, New York, NY for plaintiffs.
    for defendant: William M. Lafferty, Ryan D. Stottmann, Lauren K. Neal, Alec Hoeschel, Grant E. Michl, Morris, Nichols, Arsht & Tunnel LLP, Wilmington, DE; Hallie B. Levin, Wilmer Cutler Pickering Hale & Dorr LLP, New York, NY; Timothy Perla, Wilmer Cutler Pickering Hale & Dorr LLP, Boston, MA; William Savitt, Jonathan M. Moses, Elaine Golin, Graham W. Meli, Ryan A. McLeod, Wachtell, Lipton, Rosen & Katz, New York, NY; Eric Seiler, Lance J. Gotko, Jason Rubinstein, David J. Ranzenhofer, Sofie Syed, Friedman Kaplan Seiler, Adelman & Robbins LLP, New York, NY; Kurt M. Heyman, Elizabeth A. DeFelice, Heyman Enerio Gattuso & Hirzel LLP, Wilmington, DE for defendants.
    Case Number: 2023-0382-NAC

    Majority owner's intentional acts to remove founders from the company to eliminate their right to designate board members materially interfered with those rights in violation of the parties' stockholders' agreement's "reasonable efforts" clause.