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Publication Date: 2024-08-06
Practice Area: Corporate Governance
Industry: Aerospace | Investments and Investment Advisory | Manufacturing
Court: Court of Chancery
Judge: Vice Chancellor Zurn
Attorneys: For plaintiff: Blake A. Bennett, Cooch and Taylor, P.A., Wilmington, DE for plaintiff.
for defendant: John L. Reed, DLA Piper LLP (US), Wilmington, DE for defendants.
Case Number: 2022-1124-MTZ
Derivative complaint failed due to lack of allegations of bad faith by board where record showed it never knowingly or intentionally disregarded any alleged requirement for a stockholder vote to amend corporation's employee equity awards.
Publication Date: 2024-07-30
Practice Area: Corporate Governance
Industry: Health Care | Investments and Investment Advisory
Court: Court of Chancery
Judge: Vice Chancellor Zurn
Attorneys: For plaintiff: Mark Richardson, Labaton Sucharow LLP, Wilmington, DE; Nathaniel L. Orenstein, Steven L. Groopman, Berman Tabacco, Boston, MA for plaintiff.
for defendant: Raymond J. DiCamillo, Kevin M. Gallagher, Spencer V. Crawford, Richards, Layton & Finger, P.A., Wilmington, DE; Glenn Kurtz, Andrew Hammond, White & Case LLP, New York, NY; Paul J. Lockwood, Lauren N. Rosenello, Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington, DE for defendants.
Case Number: 2022-1118-MTZ
Court dismissed derivative complaint where stockholder failed to show that a majority of the board faced personal liability for willfully ignoring deficiencies in corporate oversight systems or signs the company faced a strong likelihood of corporate trauma.
Publication Date: 2024-06-18
Practice Area: Energy and Natural Resources
Industry: Energy
Court: Court of Chancery
Judge: Vice Chancellor Zurn
Attorneys: For plaintiff: John M. Seaman, Abrams & Bayliss LLP, Wilmington, DE; Samuel T. Hirzel, II, Heyman Enerio Gattuso & Hirzel LLP, Wilmington, DE for plaintiff.
for defendant: S. Michael Sirkin, Ross Aronstam & Moritz LLP, Wilmington, DE for defendants.
Case Number: 2023-0249-MTZ
Plaintiff was not entitled to toll the statute of limitations based on alleged concealment of side deal where arbitration had already concluded that the terms of the alleged side deal were expressly included in the parties' agreement, rendering the tolling argument an impermissible collateral attack on the arbitration award.
Publication Date: 2024-06-18
Practice Area: Corporate Governance
Industry: Agriculture | Consulting | Energy
Court: Court of Chancery
Judge: Vice Chancellor Zurn
Attorneys: For plaintiff: D. McKinley Measley, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE for plaintiff.
for defendant: David L. Finger, Finger & Slanina, LLC, Wilmington, DE for defendants.
Case Number: 2023-0139-MTZ
Plaintiff sufficiently pled breach of fiduciary duty claims where the parties' operating agreement did not expressly permit fiduciaries to compete against the company or engage in self-interested transactions, but merely allowed managers to engage in other business opportunities.
Publication Date: 2024-06-03
Practice Area: Consumer Protection
Industry: E-Commerce | Entertainment and Leisure
Court: Court of Chancery
Judge: Vice Chancellor Zurn
Attorneys: For plaintiff: Ryan D. Stottmann, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE for plaintiff.
for defendant: Robert J. Kriner, Jr., Chimicles, Schwartz Kriner & Donaldson-Smith LLP, Wilmington, DE for defendant.
Case Number: 2024-0040-MTZ
Court denied confidentiality of litigation record motion where parties could not rely on a contractual provision to demand confidentiality and movant failed to overcome the presumption in favor of public access.
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Publication Date: 2024-05-27
Practice Area: Labor Law
Industry: E-Commerce | Entertainment and Leisure | Technology Media and Telecom
Court: Court of Chancery
Judge: Vice Chancellor Zurn
Attorneys: For plaintiff: Rolin P. Bissell, Elena C. Norman, Kevin P. Rickert, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; Mary Eaton, Thomas Walsh, Christian Vandergeest, Freshfields Bruckhaus Deringer US LLP, New York, NY for plaintiff.
for defendant: David A. Felice, Bailey & Glasser LLP, Wilmington, DE; Kevin D. Galbraith, The Galbraith Law Firm, New York, NY; Sean R. O’Brien, A.J. Monaco, O’Brien LLP, New York, NY; Joseph Gallagher, Harris St. Laurent & Wechsler LLP, New York, NY for defendants.
Case Number: 2023-0377-MTZ
Employment agreements' statement of parties' agreement to arbitrate claims generally and reference to AAA created presumption of parties' intention to delegate questions of substantive arbitrability to the arbitrator.
Publication Date: 2024-05-06
Practice Area: Corporate Governance
Industry: Investments and Investment Advisory
Court: Court of Chancery
Judge: Vice Chancellor Zurn
Attorneys: For plaintiff: Joel Friedlander, Jeffrey M. Gorris, Christopher M. Foulds, Friedlander & Gorris, P.A., Wilmington, DE; Christopher H. Lyons, Tayler D. Bolton, Robbins Geller Rudman & Dowd LLP, Wilmington, DE; Randall J. Baron, Benny C. Goodman III, Andrew W. Hutton, Robbins Geller Rudman & Dowd LLP, San Diego, CA; Gladriel Shobe, Jarrod Shobe, Shobe & Shobe, LLP, Provo, UT for plaintiff.
for defendant: Blake Rohrbacher, Matthew D. Perri, Nicole M. Henry, Morgan R. Harrison, Richards, Layton & Finger, P.A., Wilmington, DE; Robert A. Van Kirk, John Williams, Tyler Infinger, Bryan Czako, William Donnelly, Williams & Connolly LLP, Washington, DC for defendants.
Case Number: 2022-0664-MTZ
Plaintiff adequately pled breach of contractual duty of good faith when general partner concealed information indicating that equityholders lacked legal leverage to force a settlement payment for the loss of tax receivable agreement rights in exchange for their approval of the corporate conversion.
Publication Date: 2024-04-15
Practice Area: Contracts
Industry: Construction | Real Estate
Court: Court of Chancery
Judge: Vice Chancellor Zurn
Attorneys: For plaintiff: Nathan D. Barillo, Fox Rothschild LLP, Wilmington, DE for plaintiffs.
for defendant: Edward J. Fornias, III, Law Office of EJ Fornias, P.A., Wilmington, DE for defendants.
Case Number: 2020-0745-MTZ
Court declined to enforce a settlement against defendants' affiliates who were non-parties to the underlying action, as Ct. Ch. R. 71 could not supply an independent basis to extend jurisdiction over non-parties in the absence of due process.
Publication Date: 2024-02-19
Practice Area: Real Estate
Industry: Real Estate
Court: Court of Chancery
Judge: Vice Chancellor Zurn
Attorneys: For plaintiff: Paul G. Enterline, Georgetown, DE for plaintiff.
for defendant: Brian J. Ferry, Wilmington, DE for defendant.
Case Number: 2022-1211-MTZ
Option contract with firm deadline for exercise effectively contained a "time is of the essence" provision regardless of whether the contract used that specific phrase.
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.
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