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  • Rummel Klepper & Kahl, LLP v. Delaware River & Bay Auth.

    Publication Date: 2022-01-18
    Practice Area: Dispute Resolution
    Industry: Construction
    Court: Court of Chancery
    Judge: Vice Chancellor Fioravanti
    Attorneys: For plaintiff: Patrick M. McGrory, Tighe & Contrell, P.A., Wilmington, DE for plaintiff.
    for defendant: Donna L. Culver, Morris, Nichols, Arsht & Tunnel LLP, Wilmington, DE; Richard W. Hunt, Ashley H. Buono, Parker Mccay P.A., Mt. Laurel, NJ for defendant.
    Case Number: D69680

    The court held that the agreement made between the parties clearly called for arbitration.

  • In Re Vaxart Inc. Stockholder Litig.

    Publication Date: 2021-12-14
    Practice Area: Corporate Governance
    Industry: Biotechnology | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Fioravanti
    Attorneys: For plaintiff: Stephen E. Jenkins, F. Troupe Mickler, IV, Ashby & Geddes, P.A., Wilmington, DE; Gregory V. Varallo, Bernstein Litowitz Berger & Grossmann LLP, Wilmington, DE; Jeroen van Kwawegen, Daniel E. Meyer, Margaret Sanborn-Lowing, Bernstein Litowitz Berger & Grossmann LLP, New York, NY; Gustavo F. Bruckner, Samuel J.Adams, Daryoush Behbood, Pomerantz LLP, New York, NY; Sascha N. Rand, Rollo C. Baker, IV , Silpa Maruri, Jesse Bernstein, Charles H. Sangree, Quinn Emanuel Urquhart & Sullivan, LLP, New York, NY; Stanley D. Bernstein, Matthew Guarnero, Bernstein Liebhard LLP, New York, NY; William J. Fields, Christopher J. Kupka, Samir Shukurov, Fields Kupka & Shukurov LLP, New York, NY for plaintiffs.
    for defendant: Brock E. Czeschin, Andrew L. Milam, Richards Layton & Finger, P.A., Wilmington, DE; Riccardo DeBari, Renee Zaytsev, Mendy Pie-karski, Thompson Hine, New York, NY; Matthew F. Davis, Abraham C. Schneider, Potter Anderson & Corroon LLP, Wilmington, DE; Douglas A. Rappaport, Kaitlin D. Shapiro, Elizabeth C. Rosen, Madeleine R. Freeman, Akin Gump Strauss Hauer & Feld LLP, New York, NY for defendants.
    Case Number: D69639

    The court held that plaintiff shareholders were required to make a demand on the board prior to filing suit. Because they did not make a demand, their claims failed. Motion to dismiss granted.

  • InTeam Assocs. v. Heartland Payment Sys., LLC

    Publication Date: 2021-11-16
    Practice Area: Contracts
    Industry: Financial Services and Banking | Consulting | Software
    Court: Court of Chancery
    Judge: Vice Chancellor Fioravanti
    Attorneys: For plaintiff: Thad J. Bracegirdle, Bayard, P.A., Wilmington, DE; David A. Battaglia, Gibson, Dunn & Crutcher LLP, Los Angeles, CA for plaintiff.
    for defendant: Jeffrey L. Moyer, Travis S. Hunter, Nicole K. Pedi, Richards Layton & Finger, P.A., Wilmington, DE for defendant.
    Case Number: D69608

    The court held that plaintiff failed to show that defendant engaged in contemptuous conduct constituting a violation of a previously issued court order under the preponderance of the evidence standard for contempt claims.

  • Pacira Biosciences, Inc. v. Fortis Advisors LLC

    Publication Date: 2021-11-09
    Practice Area: Mergers and Acquisitions
    Industry: Biotechnology | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Fioravanti
    Attorneys: For plaintiff: Lisa A. Schmidt, Raymond J. DiCamillo, Megan E. O’Connor, Richards, Layton & Finger, P.A., Wilmington, DE; Randy M. Mastro, Declan T. Conroy, Gibson, Dunn & Crutcher LLP, New York, NY for plaintiffs.
    for defendant: R. Judson Scaggs, Jr., Lauren K. Neal, Sarah P. Kaboly, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Christopher J. Marino, Davis Malm & D’agostine, P.C., Boston, MA; Henry E. Gallagher, Jr., Shaun Michael Kelly, Jarrett W. Horowitz, Connolly Gallagher LLP, Wilmington, DE for defendants.
    Case Number: D69603

    Claims that former owners and employees of acquired company improperly interfered with acquirer's operation of the business were dismissed where the parties' merger agreement contained no express non-compete/non-interference language and defendants' cited actions did not rise to the level of bad faith interference or communication with the acquirer's employees.

  • Teamsters Local 237 Additional Sec. Benefit Fund v. Caruso

    Publication Date: 2021-09-15
    Practice Area: Mergers and Acquisitions
    Industry: Investments and Investment Advisory | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Fioravanti
    Attorneys: For plaintiff: Joel Friedlander, Jeffrey M. Gorris, Christopher M. Foulds, Friedlander & Gorris, P.A., Wilmington, DE; Gregory V. Varallo, Bernstein Litowitz Berger & Grossman LLP, Wilmington, DE; Mark Lebovitch, Jeroen van Kwawegen, Andrew E. Blumberg, Bernstein Litowitz Berger & Grossman LLP, New York, NY; Randall J. Baron, David Wissbroecker, Robbins Geller Rudman & Dowd LLP, San Diego, CA; Christopher H. Lyons, Robbins Geller Rudman & Dowd LLP, Nashville, TN for plaintiffs.
    for defendant: Edward B. Micheletti, Cliff C. Gardner, Veronica B. Bartholomew, Gregory P. Ranzini, Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington, DE for defendant.
    Case Number: D69536

    Claim of breach of fiduciary duty by CEO with conflict of interest in merger transaction failed where there was no allegation that the independent board was unreasonable in its oversight activities during the negotiation process or that CEO acted to undermine the board's authority.

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  • In re Dissolution of Jeffco Mgmt., LLC

    Publication Date: 2021-09-01
    Practice Area: Corporate Entities
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Fioravanti
    Attorneys: For plaintiff: Jason C. Powell, The Powell Firm, LLC, Wilmington, DE, receiver for Jeffco Management, LLC. S. Michael Sirkin Ross Aronstam & Moritz LLP, Wilmington, DE for petitioner.
    for defendant: John G. Harris, Berger Harris LLP, Wilmington, DE; James Nealon, Withers Bergman LLP, New York, NY for respondent.
    Case Number: D69524

    The court granted the receiver's motion to approve an in-kind distribution of the assets of a limited liability company to one of the members, and it ordered the other member to pay attorney fees.

  • Stone & Paper Investors, LLC v. Blanch

    Publication Date: 2021-08-18
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Fioravanti
    Attorneys: For plaintiff: Richard I.G. Jones, Jr., David B. Anthony, Berger Harris LLP, Wilmington, DE; David Lackowitz, Zaid Shukri, Moses & Singer LLP, New York, NY for plaintiff.
    for defendant: Catherine Damavandi, Nurick Law Group, Wilmington, DE; John A. Elzufon, Elzufon Austin & Mondell, P.A., Wilmington, DE for defendants.
    Case Number: D69509

    Managers of a limited liability company breached their fiduciary duties and fraudulently concealed their wrongdoing.

  • Feldman v. AS Roma SPV GP

    Publication Date: 2021-08-04
    Practice Area: Corporate Governance
    Industry: Entertainment and Leisure | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Fioravanti
    Attorneys: For plaintiff: Peter B. Ladig, Brett M. McCartney, Sarah T. Andrade, Bayard, P.A., Wilmington, DE; Rishi Bhandari, Mandel Bhandari LLP, New York, NY for plaintiffs.
    for defendant: John L. Reed, Ronald N. Brown, III, Peter H. Kyle, DLA Piper LLP (US), Wilmington, DE for defendants.
    Case Number: D69487

    Minority shareholders in LLC failed to state a claim for inadequate disclosures where LLC control group was not obligated to provide, as part of a capital call for the LLC, a prediction of the likelihood of a sale of the company by a certain date.

  • Berteau v. Glazek

    Publication Date: 2021-07-21
    Practice Area: Mergers and Acquisitions
    Industry: Consumer Products | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Fioravanti
    Attorneys: For plaintiff: Neal C. Belgam, Robert K. Beste, Michael C. Wagner, Smith, Katzenstein & Jenkins LLP, Wilmington, DE; Peter B. Andrews, Craig Springer, Andrews & Springer LLC, Wilmington, DE; Jeremy Friedman, David Tejtel, Friedman, Oster & Tejtel, LLP, New York, NY for plaintiff.
    for defendant: John M. Seaman, Matthew L. Miller, Christopher F. Cannataro, Abrams & Bayliss LLP, Wilmington, DE; David A. Dorey, Brandon W. McCune, Blank Rome LLP, Wilmington, DE; Barry H. Genkin, Blank Rome LLP, Philadelphia, PA; Blake Rohrbacher, Christian C.F. Roberts, Richards, Layton & Finger, P.A., Wilmington, DE for defendants.
    Case Number: D69470

    Stockholder plausibly challenged merger transaction under entire fairness review where controller of both parties to merger received greater value from the transaction, a benefit not shared with the minority stockholders.

  • Simple Global, Inc. v. Banasik

    Publication Date: 2021-07-14
    Practice Area: Corporate Entities
    Industry: Cargo and Shipping | E-Commerce
    Court: Court of Chancery
    Judge: Vice Chancellor Fioravanti
    Attorneys: For plaintiff: Thomas G. Macauley, Macauley LLC, Wilmington, DE for plaintiff.
    for defendant: Peter K. Schaeffer, Jr., Avenue Law, Dover, DE for defendant.
    Case Number: D69466

    A former director waited too long to challenge his removal, and the court concluded that the remaining shareholders had authority to remove him from his role as a director.