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  • Pettry v. Smith

    Publication Date: 2021-07-21
    Practice Area: Corporate Governance
    Industry: Cargo and Shipping
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Robert D. Goldberg, Biggs and Battaglia, Wilmington, DE; Brian J. Robbins, Stephen J. Oddo, Emily R. Bishop, Robbins LLP, San Diego, CA for plaintiff.
    for defendant: Lisa A. Schmidt, Alexander M. Krischik, Nicole M. Henry, Richards, Layton & Finger, P.A., Wilmington, DE for individual defendants and nominal defendant FedEx Corp.
    Case Number: D69475

    The court dismissed this derivative action with prejudice, because plaintiff failed to adequately plead de-mand futility.

  • Novarus Capital Holdings, LLC v. AFG ME West Holdings, LLC

    Publication Date: 2021-07-14
    Practice Area: Contractual Disputes
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Kevin M. Coen, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Darrell G. Waas, Patricia C. Camp-bell, Waas Campbell Rivera Johnson & Velasquez LLP, Denver, CO for plaintiff.
    for defendant: Alan D. Albert, O’Hagan Meyer PLLC, Wilmington, DE for defendants.
    Case Number: D69465

    Plaintiff adequately stated claims for reformation, declaratory relief, and breach of the implied covenant of good faith and fair dealing, but the court dismissed certain other claims against defendants.

  • Goldberg v. Bruck

    Publication Date: 2021-07-07
    Practice Area: Corporate Entities
    Industry: Biotechnology | Pharmaceuticals
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: R. Karl Hill, Seitz, Van Ogtrop & Green, P.A., Wilmington, DE; Gregory Zimmer, New York, NY for petition-er.
    for defendant: Richard P. Rollo, Sarah A. Clark, Angela Lam, Richards, Layton & Finger, P.A., Wilmington, DE; Barry Ka-zan, Mintz & Gold LLP, New York, NY; Faith Charles, Thompson Hine LLP, New York, NY for respondents.
    Case Number: D69457

    Two individuals had been properly appointed to a board of directors in accordance with the procedures set forth in the company's governing documents, so the court granted a motion to dismiss.

  • Shareholder Representative Serv. LLC v. Albertsons Co., Inc.

    Publication Date: 2021-06-23
    Practice Area: Mergers and Acquisitions
    Industry: E-Commerce | Food and Beverage | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: John P. DiTomo, Miranda N. Gilbert, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; John T. Ruskusky, Lisa C. Sullivan, Nixon Peabody, LLP, Chicago, IL for plaintiff.
    for defendant: Thomas E. Hanson, Jr., Barnes & Thornburg LLP, Wilmington, DE; Michael E. Swartz, Taleah E. Jennings, Schulte Roth & Zabel LLP, New York, NY; Thomas P. DeFranco, Schulte Roth & Zabel LLP, Washington, DC for defendant.
    Case Number: D69445

    The court refused to dismiss a breach of contract claim where plaintiff alleged sufficient facts to support its assertion that defendant intentionally missed milestones under a merger agreement that would have required it to make earnout payments.

  • Clifford Paper, Inc. v. WPP Investors, LLC

    Publication Date: 2021-06-16
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Manufacturing
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Samuel T. Hirzel, II, Elizabeth A. DeFelice, Heyman Enerio Gattuso & Hirzel LLP, Wilmington, DE; Matthew M. Oliver, Lowenstein Sandler LLP, Roseland, NJ for plaintiff.
    for defendant: Oderah C. Nwaeze, Faegre Drinker Biddle & Reath LLP, Wilmington, DE for defendant.
    Case Number: D69431

    Claims alleging wrongful disposition of corporate resources or assets were essentially derivative in nature, meaning that former member of LLC lacked standing to assert such claims and could not do so after failing to make litigation demand or plead demand futility.

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  • In re: GGP, Inc. Stockholder Litig.

    Publication Date: 2021-06-09
    Practice Area: Corporate Governance
    Industry: Real Estate
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Ronald A. Brown, Jr., Stephen D. Dargitz, J. Clayton Athey, Marcus E. Montejo, Samuel L. Closic, Prickett Jones & Elliott, P.A., Wilmington, DE; Carl L. Stine, Adam J. Blander, Wolf Popper LLP, New York, NY; Frank P. DiPrima, Law Office of Frank DiPrima, P.A., Morristown, NJ for plaintiffs. Seth D. Rigrodsky, Gina M. Serra, Rigrodsky Law, P.A., Wilmington, DE; Aaron Brody, Patrick Slyne, Stull, Stull & Brody, New York, NY for plaintiff’s executive committee.
    for defendant: Kevin G. Abrams, John M. Seaman, Matthew L. Miller, Abrams & Bayliss LLP, Wilmington, DE; John A. Neuwirth, Evert J. Christensen, Jr., Seth Goodchild, Matthew S. Connors, Weil, Gotshal & Manges LLP, New York, NY for defendant Brookfield Property Partners. David J. Teklits, Thomas P. Will, Morris, Nich-ols, Arsht & Tunnell LLP, Wilmington, DE for defendants Clark, Flatt and Kingston. Raymond J. DiCamillo, Susan M. Hannigan, Richards, Layton & Finger, P.A., Wilmington, DE; Brian T. Frawley, Y. Carson Zhou, Sullivan & Cromwell LLP, New York, NY for defendant Mathrani. Peter J. Walsh, Jr., Berton W. Ashman, Jr., Jaclyn C. Levy, Potter Anderson & Corroon LLP, Wilmington, DE; Peter E. Kazanoff, Michael J. Garvey, Sara A. Ricciardi, Eamonn W. Campbell, Simpson Thacher & Bartlett LLP, New York, NY for defendants Fi-ala, Fukakusa, Haley, Hurwitz and Lofgren.
    Case Number: D69425

    The business judgment standard applied because defendant was not a controlling stockholder and an over-whelming majority of the stockholders approved this merger transaction in an informed and uncoerced vote.

  • Manichaean Capital, LLC v. Exela Tech., Inc.

    Publication Date: 2021-06-09
    Practice Area: Corporate Entities
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Rudolf Koch, Matthew W. Murphy, Andrew L. Milam, Richards, Layton & Finger, P.A., Wilmington, DE; Samuel J. Lieberman, Alexander H. McCabe, Sadis & Goldberg LLP, New York, NY; Steven K. Davidson, Mi-chael J. Baratz, Claire Schachter, Lauren Goldschmidt, Steptoe & Johnson LLP, Washington, DC for plaintiffs.
    for defendant: T. Bradley Davey, Matthew F. Davis, Andrew H. Sauder, Potter Anderson & Corroon LLP, Wilmington, DE; Jennifer Barrett, Dennis H. Hranitzky, Blair Adams, Quinn Emanuel Urquhart & Sullivan, LLP, New York, NY for defendants.
    Case Number: D69428

    The court held that reverse corporate veil piercing was proper where plaintiffs' complaint adequately al-leged that a company's subsidiaries participated in a scheme to deprive plaintiffs of the benefit of their judg-ment.

  • Smith v. Scott

    Publication Date: 2021-05-19
    Practice Area: Employment Litigation
    Industry: Investments and Investment Advisory | Real Estate
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: David E. Wilks, D. Charles Vavala, Wilks Law, LLC, Wilmington, DE; Douglas Albritton, Actuate Law LLC, Chicago, IL for plaintiffs.
    for defendant: Robert A. Penza, Stephen J. Kraftschik, Polsinelli PC, Wilmington, DE; Anthony C. Porcelli, Scott M. Gil-bert, Polsinelli PC, Chicago, IL for defendants.
    Case Number: D69401

    The chancery court denied defendant's motion to dismiss plaintiff's conversion, implied covenant and wage law claims, but it dismissed the claims for breach of fiduciary duty, defamation and punitive damages.

  • Obsidian Fin. Group, LLC v. Identity Theft Guard Solutions, Inc.

    Publication Date: 2021-05-12
    Practice Area: Contractual Disputes
    Industry: Consulting | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Richard M. Beck, Craig E. Rushmore, Klehr Harrison Harvey Branzburg LLP, Wilmington, DE for plaintiff.
    for defendant: Brad D. Sorrels, Jessica A. Hartwell, Nora M. Crawford, Wilson Sonsini Goodrich & Rosati, PC, Wilming-ton, DE for defendants.
    Case Number: D69395

    Failure of a transaction to meet the requirements of an earnout provision did not entitle plaintiff to relief, so the court granted defendant's motion to dismiss claims for breach of contract, reformation and declaratory relief.

  • Seokoh, Inc. v. Lard-PT, LLC

    Publication Date: 2021-04-21
    Practice Area: Corporate Entities
    Industry: Consumer Products
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Jacob R. Kirkham, Kobre & Kim LLP, Wilmington, DE; Robin J. Baik, Leif T. Simonson, S. Nathan Park, Kobre & Kim LLP, New York, NY for petitioner.
    for defendant: John G. Harris, Peter C. McGivney, Berger Harris LLP, Wilmington, DE; Stuart Kagen, Russell Bogart, Ka-gen, Caspersen & Bogart PLLC, New York, NY for respondent.
    Case Number: D69373

    The court found that petitioner had alleged a reasonably conceivable basis upon which judicial dissolution was warranted, so it denied respondent's motion to dismiss.