• In re: Towers Watson & Co. Stockholders Litig.

    Publication Date: 2019-08-07
    Practice Area: Corporate Governance
    Industry: Consulting
    Court: Court of Chancery
    Judge: Vice Chancellor McCormick
    Attorneys: For plaintiff: Michael J. Barry and Christine M. Mackintosh, Grant & Eisenhoffer P.A., Wilmington, DE for plaintiffs Alaska Labor-ers-Employers Retirement Trust and City of Fort Myers Gen. Employees' Pension Fund. Lee D. Rudy, Geoffrey C. Jarvis, J. Daniel Albert and Stacey A. Greenspan, Kessler Topaz Meltzer & Check, LLP, Radnor, PA for City of Fort Myers Gen. Em-ployees' Pension Fund. Bradley R. Aronstam and Roger S. Stronach, Ross Aronstam & Moritz LLP, Wilmington, DE
    for defendant: John A. Neuwirth, Joshua S. Amsel, Matthew S. Connors, Amanda K. Pooler and Sean Moloney, Weil, Gotshal & Manges LLP, New York, NY for defendants Ganzi, Haley, Heisz, O'Neill, Rabbitt, Ray, Thomas and Zeller. Raymond J. DiCamillo and Sarah T. Andrade, Richards, Layton & Finger, P.A., Wilmington, DE; Richard S. Horvath, Jr., Paul Hastings LLP, San Francis-co, CA for defendants Ubben and ValueAct Capital Management, L.P.

    Case Number: D68658

    Stockholders failed to rebut the business judgment rule, because they did not present sufficient evidence of a conflict of inter-est.

  • Kilcullen v. Spectro Scientific, Inc.

    Publication Date: 2019-07-31
    Practice Area: Deals and Transactions
    Industry: Automotive | Manufacturing | Software
    Court: Court of Chancery
    Judge: Vice Chancellor McCormick
    Attorneys: For plaintiff: Kevin G. Abrams, J. Peter Shindel, Jr. and Matthew L. Miller, Abrams & Bayliss LLP, Wilmington, DE; Herbert J. Stern and Brian J. DeBoer, Stern Kilcullen & Rufolo LLC, Florham Park, NJ for plaintiff.
    for defendant: Raymond J. DiCamillo and Kevin M. Gallagher, Richards, Layton & Finder, P.A., Wilmington, DE; John J. Tumilty and Amanda R. Phillips, Morse, Barnes-Brown & Pendleton, P.C., Waltham, MA for defendant.

    Case Number: D68651

    The statute of limitations barred most of a buyer's indemnity claims.

  • Arkansas Teacher Ret. Sys. v. Alon USA Energy, Inc.

    Publication Date: 2019-07-10
    Practice Area: Mergers and Acquisitions
    Industry: Energy | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor McCormick
    Attorneys: For plaintiff: Michael Hanrahan, Stephen D. Dargitz, Paul A. Fioravanti, Corinne Elise Amato, Kevin H. Davenport, and Eric J. Juray, Prickett, Hones & Elliott, P.A., Wilmington, DE; Michael C. Wagner, J. Daniel Albert, and Grant D. Goodhart, III, Kessler Topaz Meltzer & Check, LLP, Radnor, PA for plaintiff
    for defendant: David J. Teklits and Thomas P. Will, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Mark Oakes, William Patrick Courtney, and Ryan Metzer, Norton Rose Fulbright US LLP, Austin, TX; Raymond J. DiCamillo, Brian F. Morris, and Sara C. Hunter, Richards, Layton & Finger, P.A., Wilmington, DE; Colin B. Davis, Gibson, Dunn & Crutcher LLP, Irvine CA; Mark H. Mixon, Jr., Gibson, Dunn & Crutcher LLP, New York, NY for defendants.

    Case Number: D68624

    Defendant's motion to dismiss complaint brought by stockholder of defendant's acquired company dismissed where stockholder had standing to enforce stockholder agreement that imposed standstill agreement identical to §203 protections upon defendant.

  • Howland v. Kumar

    Publication Date: 2019-06-26
    Practice Area: Corporate Governance
    Industry: Biotechnology | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor McCormick
    Attorneys: For plaintiff: Sidney S. Liebesman, Johnna M. Darby and Wali W. Rushdan II, Fox Rothschild LLP, Wilmington, DE for plaintiff.
    for defendant: Bradley D. Sorrels and Daniyal M. Iqbal, Wilson Sonsini Goodrich & Rosati, P.C., Wilmington, DE for individual defendants. Stephen E. Jenkins, Ashby & Geddes, P.A., Wilmington, DE for nominal defendant Anixa Biosciences, Inc.

    Case Number: D68611

    In this derivative action, a stockholder alleged sufficient facts to support an inference that defendant directors and officers breached their fiduciary duty.

  • Shareholder Representative Services LLC v. RSI Holdco, LLC

    Publication Date: 2019-06-19
    Practice Area: Mergers and Acquisitions
    Industry: Aerospace | Investments and Investment Advisory | Legal Services
    Court: Court of Chancery
    Judge: Vice Chancellor McCormick
    Attorneys: For plaintiff: Rudolf Koch, Susan M. Hannigan and Matthew W. Murphy, Richards, Layton & Finger, P.A., Wilmington, DE; Christopher F. Robertson and Alison K. Eggers, Seyfarth Shaw LLP, Boston, MA for plaintiff and third-party defendants.
    for defendant: John P. DiTomo and Jarrett W. Horowitz, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Roberto M. Braceras, Adam Slutsky and Ezekiel L. Hill of Goodwin Procter LLP, Boston, MA for defendants.

    Case Number: D68604

    The parties' merger agreement contained a provision which preserved the attorney-client privilege regarding pre-merger communications between sellers and their attorney.

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    New Jersey Estate Litigation 2014

    Authors: Michael R. Griffinger, Paul F. Cullum III

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  • Klein v. Wasserman

    Publication Date: 2019-06-12
    Practice Area: Corporate Governance
    Industry:
    Court: Court of Chancery
    Judge: Vice Chancellor McCormick
    Attorneys: For plaintiff: Michael F. Bonkowski and Andrew L. Cole, Cole Schotz P.C., Wilmington, DE; Steven R. Klein and Rachel A. Mongiello, Cole Schotz P.C., Hackensack, NJ, attorneys for plaintiffs
    for defendant: Lisa A. Schmidt and Matthew D. Perri, Richards, Layton & Finger, P.A., Wilmington, DE; Joseph L. Fogel and Michael P. Kornak, Freeborn & Peters LLP, Chicago, IL, attorneys for defendants.

    Case Number: D68590

    Breach of fiduciary duty claim against investors failed where company failed to show investors qualified as company controllers through either their equity stake, their control of the board, or their efforts to disrupt company operations that were severe enough to demonstrate the investors' control.

  • Shareholder Representative Serv. LLC v. RSI Holdco, LLC

    Publication Date: 2019-06-05
    Practice Area: Mergers and Acquisitions
    Industry: Investments and Investment Advisory | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor McCormick
    Attorneys: For plaintiff: Rudolf Koch, Susan M. Hannigan and Matthew W. Murphy, Richards, Layton & Finger, P.A., Wilmington, DE; Christopher F. Robertson and Alison K. Eggers, Seyfarth Shaw LLP, Boston, MA for plaintiffs and third-party defendants
    for defendant: John P. DiTomo and Jarrett W. Horowitz, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Roberto M. Braceras, Adam Slutsky and Ezekiel L. Hill, Goodwin Procter LLP, Boston, MA for defendants/third-party plaintiffs

    Case Number: D68588

    In this merger litigation, defendants named only some stockholders in their third-party complaint, but the court dismissed de-fendants' request for rescission because all of the stockholders were indispensable parties. Defendants' unjust enrichment claim survived a motion to dismiss.

  • Mehta v. Mobile Posse, Inc.

    Publication Date: 2019-05-22
    Practice Area: Mergers and Acquisitions
    Industry: Advertising | Investments and Investment Advisory | Software
    Court: Court of Chancery
    Judge: Vice Chancellor McCormick
    Attorneys: For plaintiff: Marcus E. Montejo and John G. Day, Prickett, Jones & Elliott, P.A., Wilmington, DE for plaintiff.
    for defendant: Rafael X. Zahralddin and Jonathan M. Stemerman, Elliott Greenleaf, P.C., Wilmington, DE for defendants.

    Case Number: D68470

    In this case involving a corporate merger, the company and its board were not entitled to judgment on the pleadings where they did not comply with statutory notice requirements regarding appraisal rights.

  • AlixPartners, LLP v. Benichou

    Publication Date: 2019-05-22
    Practice Area: Intellectual Property | Trade Secrets
    Industry: Consulting
    Court: Court of Chancery
    Judge: Vice Chancellor McCormick
    Attorneys: For plaintiff: Bradley R. Aronstam, Eric D. Selden, and R. Garrett Rice, Ross Aronstam & Moritz LLP, Wilmington, DE; Robert S. Berezin and Nicholas J. Pappas, Weil, Gotshal & Manges, LLP, New York, NY for plaintiffs.
    for defendant: John P. DiTomo, Matthew R. Clark, and Barnaby Grzaslewicz, Morris, Nicholds, Arsht & Tunnell LLP, Wilmington, DE for defendant.

    Case Number: D68466

    The court adopted the narrow version of liability under the Computer Fraud and Abuse Act, which only imposed liability for unauthorized access of computer systems, rather than for misuse of computer systems and files that were otherwise accessed under proper authorization.

  • NASDI Holdings, LLC v. N. Am. Leasing, Inc.

    Publication Date: 2019-04-24
    Practice Area: Mergers and Acquisitions
    Industry: Construction
    Court: Court of Chancery
    Judge: Vice Chancellor McCormick
    Attorneys: For plaintiff: Brian C. Ralston and Matthew A. Golden, Potter Anderson & Corroon LLP, Wilmington, DE; Michael Dockterman, Steptoe & Johnson, LLP, Chicago, IL for plaintiffs.
    for defendant: Joseph B. Cicero, Paul D. Brown, and Stephanie H. Dallaire, Chipman Brown Cicero & Cole, LLP, Wilmington, DE; Mark L. McAlpine, Douglas W. Eyre, McAlpine PC, Auburn Hills, MI for defendants.

    Case Number: D68536

    Plaintiffs were entitled to summary judgment on their breach of contract claim and defendants' affirmative defenses where plaintiffs' contractual notice obligation did not apply to its claim for indemnification, plaintiffs had no duty to mitigate prior to defendants' breach, and unclean hands was not a defense to a purely legal claim for breach.