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  • Floreani v. FloSports, Inc.

    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.

  • Twitter, Inc. v. Musk

    Publication Date: 2024-10-22
    Practice Area: Corporate Entities
    Industry: E-Commerce
    Court: Court of Chancery
    Judge: Vice Chancellor McCormick
    Attorneys: For plaintiff: Catherine A. Gaul, Randall J. Teti, Ashby & Geddes, P.A., Wilmington, DE for plaintiff
    for defendant: Aaron Greenspan, PlainSite, San Francisco, CA.
    Case Number: 2022-0613-KSJM

    Court granted continued confidential treatment of docket entries in part where they concerned confidential corporate policies and procedures, but declined to grant such treatment to non-confidential or public information.

  • Mehra v. Teller

    Publication Date: 2024-10-08
    Practice Area: Corporate Entities
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Chancellor McCormick
    Attorneys: For plaintiff: John L. Reed, Peter H. Kyle, Kelly L. Freund, Daniel P. Klusman, DLA Piper LLP (US), Wilmington, DE; Patrick J. Smith, Brian T. Burns, Michael K. Sala, Clark Smith Villazor LLP, New York, NY for plaintiffs.
    for defendant: Jon E. Abramczyk, D. McKinley Measley, Elizabeth A. Mullin Stoffer, Kirk C. Andersen, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE for defendants.
    Case Number: 2019-0812-KSJM

    Court found that equal sharing provision in parties' LLC agreement had been triggered entitling plaintiff to equal distributions at the subsidiary level by transferring his economic rights to the subsidiary following the holding company's dissolution.

  • Kuramo Capital Mgmt., LLC v. Seruma

    Publication Date: 2024-09-24
    Practice Area: Contracts
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Chancellor McCormick
    Attorneys: For plaintiff: Bruce E. Jameson, J. Clayton Athey, John G. Day, Mary S. Thomas, Christine N. Chappelear, Prickett, Jones & Elliott, P.A., Wilmington, DE for plaintiffs.
    for defendant: Eric A. Veres, Abrams & Bayliss LLP, Wilmington, DE for defendants.
    Case Number: 2021-0323-KSJM

    Although equities could support granting LLC member an in-kind redemption, it failed to explain why court should ignore the plain language of the LLC agreement which stated that members had no interest in specific company property.

  • Carlisle v. Everett

    Publication Date: 2024-08-27
    Practice Area: Trusts and Estates
    Industry:
    Court: Court of Chancery
    Judge: Chancellor McCormick
    Attorneys: For plaintiff: Kathleen DeLacy, Martin D. Page, Reger Rizzo & Darnall LLP, Wilmington, DE for plaintiff.
    for defendant: Jason C. Powell, Thomas J. Reichert, Laurel A. LaLone, The Powell Firm, LLC, Wilmington, DE for defendant.
    Case Number: 2023-0077-LM

    Court directed parties to address the issue of whether Delaware law expressly or impliedly conferred a parent with standing to challenge the validity of their deceased child's marriage on grounds of fraud.

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  • E. Wholesale Fence LLC v. Hudson

    Publication Date: 2024-08-27
    Practice Area: Mergers and Acquisitions
    Industry: Distribution and Wholesale | Manufacturing
    Court: Court of Chancery
    Judge: Chancellor McCormick
    Attorneys: For plaintiff: Daniel M. Silver, Benjamin A. Smyth, Maliheh Zare, McCarter & English, LLP, Wilmington, DE for plaintiff.
    for defendant: Elisabeth S. Bradley, Y. Carson Zhou, Alan C. Cardenas-Moreno, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE for defendant.
    Case Number: 2023-1176-KSJM

    Court stayed breach of restrictive covenant action pending further proceedings in separate action that likely would have overlapping factual and legal issues.

  • Mitchell Partners, L.P. v. AMFI Corp.

    Publication Date: 2024-08-20
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor McCormick
    Attorneys: For plaintiff: R. Bruce McNew, Cooch and Taylor, P.A., Wilmington, DE for plaintiff.
    for defendant: Lisa M. Zwally, Bryan T. Reed, Greenberg Traurig, LLP, Wilmington, DE for defendants.
    Case Number: 2020-0985-KSJM ("AMFI I")

    Court denied reargument of decision finding waiver of claim where plaintiff failed to brief the claim aside from a single reference in its papers.

  • McMillan v. Nelson

    Publication Date: 2024-07-23
    Practice Area: Corporate Governance
    Industry: Entertainment and Leisure
    Court: Court of Chancery
    Judge: Chancellor McCormick
    Attorneys: For plaintiff: Thomas W. Briggs, Jr., Tarik J. Haskins, Elizabeth A. Mullin Stoffer, Jacob M. Perrone, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Alan I. Silver, Tal A. Bakke, Bassford Remele, P.A., Minneapolis, MN for plaintiffs.
    for defendant: Alexandra D. Rogin, Paul S. Seward, Eckert Seamans Cherin & Mellott, LLC, Wilmington, DE; Stephen A. Ling, Karen D. Olson, Spencer Fane LLP, Minneapolis, MN; Courtney L. Creal, Spencer Fane LLP, Nashville, TN for defendants.
    Case Number: 2024-0016-KSJM

    Court granted managing members summary judgment on claim to invalidate purported amended LLC agreement where prior version of agreement expressly excluded non-managing members from taking unilateral actions on behalf of the company or removing managing members without remaining managing members' consent.

  • Mitchell Partners, L.P. v. AMFI Corp.

    Publication Date: 2024-07-16
    Practice Area: Corporate Governance
    Industry: Insurance | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Chancellor McCormick
    Attorneys: For plaintiff: R. Bruce McNew, Cooch and Taylor, P.A., Wilmington, DE for plaintiff.
    for defendant: Lisa M. Zwally, Bryan T. Reed, Greenberg Traurig, LLP, Wilmington, DE for defendants.
    Case Number: 2020-0985-KSJM

    Fiduciary claims allowed to proceed where majority of board's dual fiduciary role with parent and subsidiaries created a conflict of interest preventing consideration of litigation demand, and where plaintiff lacked inquiry notice until parent made public disclosures.

  • In re TransPerfect Global, Inc.

    Publication Date: 2024-07-02
    Practice Area: Corporate Governance
    Industry: Legal Services | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Chancellor McCormick
    Attorneys: For plaintiff: Jeremy D. Eicher, Eicher Law LLC, Wilmington, DE; Frank E. Noyes, II, Offit Kurman, P.A., Wilmington, DE for petitioner.
    for defendant: Douglas D. Herrmann, Troutman Pepper Hamilton Sanders LLP, Wilmington, DE; Jennifer C. Voss, Skadden, Arps, Slate, Meagher & Flom LLP Wilmington, DE for respondent.
    Case Number: 9700-CM, 10449-CM

    Court overruled corporation's objections to custodian's legal fee petitions where court had already ruled on custodian's entitlement to fees and found no basis to support corporations' challenges to the reasonableness of the fees.