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  • Seva Holdings Inc. v. Octo Platform Equity Holdings, LLC

    Publication Date: 2024-09-10
    Practice Area: Corporate Governance
    Industry: Consulting | Investments and Investment Advisory | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Chancellor Wallace
    Attorneys: For plaintiff: Alan D. Albert, O’Hagan Meyer PLLC, Wilmington, DE; Charles M. Sims, Rachael L. Loughlin, C. Quinn Adams, O’Hagan Meyer PLLC, Richmond, VA for plaintiff.
    for defendant: Brian C. Ralston, Daniel M. Rusk, IV, Potter Anderson & Corroon LLP, Wilmington, DE; Paul A. Werner, Imad Matini, Sheppard Mullin Richter & Hampton, LLP, Washington, DC for defendant.
    Case Number: 2022-0437-PRW

    Absolute litigation privilege did not bar company from triggering its contractual membership interest repurchase option where public policy interests did not override the parties' contractual agreements.

  • WT Representative LLC v. Philips Holdings USA Inc.

    Publication Date: 2024-09-03
    Practice Area: Mergers and Acquisitions
    Industry: Biotechnology | Manufacturing
    Court: Court of Chancery
    Judge: Chancellor Wallace
    Attorneys: For plaintiff: C. Barr Flinn, Paul J. Loughman, Michael A. Carbonara, Jr., Young Conaway Stargatt & Taylor LLP, Wilmington, DE, Eric Leon, Latham & Watkins LLP, New York, NY, Nathan A. Sandals, Latham & Watkins LLP, Boston, MA for plaintiff.
    for defendant: Patricia L. Enerio, Emily A. Letcher, Heyman Enerio Gattuso & Hirzell LLP, Wilmington, DE, Laurence A. Schoen, Breton Leone-Quick, Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C., Boston, MA for defendant.
    Case Number: 2024-0170 PRW

    Plaintiff reasonably interpreted parties' merger agreement as merely requiring FDA approval of the medical device system to secure milestone payment without reference to specific size variations of the product.

  • Sunstone Partners Mgmt., LLC v. Snyopsys, Inc.

    Publication Date: 2024-08-27
    Practice Area: Mergers and Acquisitions
    Industry: Investments and Investment Advisory | Software
    Court: Court of Chancery
    Judge: Chancellor Wallace
    Attorneys: For plaintiff: Rudolf Koch, Nicholas F. Mastria, Richards, Layton & Finger P.A, Wilmington, DE; Adam Slutsky, Godwin Proctor, LLP, Boston, MA for plaintiff.
    for defendant: Tammy L. Mercer, Jillian A. Tyson, Young Conaway Stargatt & Taylor, LLP Wilmington, DE; N. Thomas Connallly, III, Christopher T. Pickens, Patrick T. Michael, and Samuel W. Yergin, Hogan Lovells US LLP, Tysons, VA for defendant.
    Case Number: 2024-0261-PRW

    Court found no breach of an exclusivity provision in a letter of intent where the provision merely prohibited soliciting proposals for a sale of the subject business, rather than communications about a potential transaction, and announcing consideration of strategic alternatives did not rise to the level of a firm solicitation.

  • CLP Toxicology, Inc. v. Casla Bio Holdings LLC

    Publication Date: 2021-07-07
    Practice Area: Mergers and Acquisitions
    Industry: Health Care | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Chancellor Wallace
    Attorneys: For plaintiff: Christopher Viceconte, Gibbons P.C., Wilmington, DE; Anthony J. Rospert, Thomas M. Ritzert, Thompson Hine LLP, Cleveland, OH; Heather M. Hawkins, Thompson Hine LLP, Cincinnati, OH for plaintiff.
    for defendant: Peter B. Ladig, Elizabeth A. Powers, Bayard, P.A., Wilmington, DE; Jordan D. Weiss, Allison R. Klein, Goodwin Procter LLP, New York, NY for defendant.
    Case Number: D69454

    Breach of earnout payment contractual provision counterclaim was dismissed where contract required arbitration of disputes over calculation and payment, which claims of diversion of funds to avoid triggering payment obligations fell under.

  • CLP Toxicology, Inc. v. Casla Bio Holdings LLC

    Publication Date: 2020-09-02
    Practice Area: Mergers and Acquisitions
    Industry: Biotechnology
    Court: Court of Chancery
    Judge: Chancellor Wallace
    Attorneys: For plaintiff: Christopher Viceconte, Gibbons, P.C., Wilmington, DE; Anthony J. Rospert and Thomas M. Ritzert, Thompson Hine LLP, Cleveland, OH for plaintiff.
    for defendant: Peter B. Ladig and Elizabeth A. Powers, Bayard, P.A. Wilmington, DE; Jordan D. Weiss, Goodwin Procter LLP, New York, NY for defendants.
    Case Number: D69103

    Fraud claim arising from company purchase survived motion to dismiss where buyer could plead fraud arising from written misrepresentations in purchase agreement, which also contractually gave buyer the right to pursue intentional fraud claims that would necessarily arise from outside the contract.