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Publication Date: 2020-07-15
Practice Area: Corporate Governance
Industry: Manufacturing
Court: Court of Chancery
Judge: Vice Chancellor Slights
Attorneys: For plaintiff: Daniel A. Mason, Paul, Weiss, Rifkind, Wharton & Garrison LLP, Wilmington, DE; Robert A. Atkins, Steven C. Herzog, Harris Fischman, and Jeremy A. Benjamin, Paul, Weiss, Rifkind, Wharton & Garrison LLP, New York, NY for plaintiffs.
for defendant: Kevin G. Abrams, J. Peter Shindel, Jr., and Matthew L. Miller, Abrams & Bayliss LLP, Wilmington, DE; Andrew J. Frackman, Edward N. Moss, and Moshe Mandel, O’Melveny & Myers LLP, New York, NY for defendant.
Case Number: D69046
Managing member not required to obtain other member's consent to sale of capital stock assets where operating agreement expressly provided that consent for such a sale would only be required before a certain date.
Publication Date: 2020-06-24
Practice Area: Mergers and Acquisitions
Industry: Investments and Investment Advisory
Court: Court of Chancery
Judge: Vice Chancellor Slights
Attorneys: For plaintiff: Michael A. Pittenger, Berton W. Ashman, Jr., and David M. Hahn, Potter Anderson & Corroon LLP, Wilmington, DE; William M. Regan and David R. Michaeli, E Hogan Lovells US LLP, New York, NY; Mark C. Hansen and John Thorne, Kellogg Hansen Todd Figel & Frederick PLLC, Washington, DC for plaintiffs.
for defendant: Rudolf Koch, Kevin M. Gallagher, and Ryan D. Konstanzer, Richards, Layton & Finger, P.A., Wilmington, DE; Jack W. Pirozzolo and Ben Schwarz, Sidley Austin LLP, Boston, MY; Christopher M. Egleson, Sidley Austin LLP, Los Angeles, CA for defendants.
Case Number: D69022
Buyer of company adequately pled breach of contract and fraud claims by alleging sellers knowingly made representations that breached the transaction's representations and warranties and seeking rescission of the deal.
Publication Date: 2020-06-03
Practice Area: Corporate Entities
Industry: Investments and Investment Advisory | Retail
Court: Court of Chancery
Judge: Vice Chancellor Slights
Attorneys: For plaintiff: John L. Williamsand Brian C. Crawford, The Williams Law Firm, P.A., Wilmington, DE for plaintiff.
for defendant: John A. Sensing, Potter Anderson & Corroon LLP, Wilmington, DE; Greg S. Zuckerand Michael B. Weitman, Westerman Ball Ederer Miller Zucker & Sharfstein, LLP, Uniondale, NY for defendants.
Case Number: D68998
Remote controller's efforts to amend operating agreement to benefit himself at the expense of another interest holder, without that interest holder's knowledge or consent, could give rise to a possible breach of fiduciary duty claim.
Publication Date: 2020-05-13
Practice Area: Corporate Governance
Industry: Consumer Products | Investments and Investment Advisory | Manufacturing
Court: Court of Chancery
Judge: Vice Chancellor Slights
Attorneys: For plaintiff: Seth D. Rigrodsky, Brian D. Long and Gina M. Serra, Rigrodsky & Long, P.A., Wilmington, DE; Melinda A. Nicholson and Ni-colas Kravitz of Kahn Swick & Foti, LLC, New Orleans, LA for lead plaintiffs.
for defendant: R. Judson Scaggs, Jr., Susan W. Waesco and Riley T. Svikhart, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Susan S. Muck, Catherine D. Kevane, and Marie C. Bafus, Fenwick & West LLP, San Francisco, California for director defendants and nominal defendant GoPro, Inc.
Case Number: D68979
Plaintiffs in this stockholder derivative matter failed to demonstrate demand futility. The court found that demand was not excused, so it granted defendants' motion to dismiss.
Publication Date: 2020-05-06
Practice Area: Corporate Governance
Industry: Investments and Investment Advisory
Court: Court of Chancery
Judge: Vice Chancellor Slights
Attorneys: For plaintiff: David A. Jenkins, Neal C. Belgam, and Jennifer M. Rutter, Smith Katzenstein & Jenkins LLP, Wilmington, DE; Steven J. Purcell, Douglas E. Julie, Robert H. Lefkowitz, and Kaitlyn T. Devenyns, Purcell Julie & Lefkowitz LLP, New York, NY for plaintiff.
for defendant: Kenneth J. Nachbar, Megan Ward Cascio, Zi-Xiang Shen, and Miranda N. Gilbert, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE for defendants.
Case Number: D68966
Motion to dismiss derivative complaint denied where plaintiff's allegation of an explicit quid pro quo among directors provided sufficient particularity to plead demand futility.
Law Journal Press | Digital Book
Authors: Michael R. Griffinger, Paul F. Cullum III
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Publication Date: 2020-04-15
Practice Area: Employment Litigation
Industry: Health Care
Court: Court of Chancery
Judge: Vice Chancellor Slights
Attorneys: For plaintiff: Gregory B. Williams and E. Chaney Hall, Fox Rothschild LLP, Wilmington, DE; Jeffrey J. Bushofsky and Timothy R. Farrell, Ropes & Gray LLP, Chicago, IL for plaintiffs.
for defendant: Travis S. Hunter and Tyler E. Cragg, Richards, Layton & Finger, P.A., Wilmington, DE; Grant A. Wright and Max D. Wright, Wright Law, P.C., Tuscumbia, AL for defendants.
Case Number: D68945
The court denied plaintiffs' request for a preliminary injunction that would have shut down defendants' competing business, because plaintiffs failed to establish that they were likely to succeed on the merits.
Publication Date: 2020-04-15
Practice Area: Corporate Governance
Industry: Consumer Products
Court: Court of Chancery
Judge: Vice Chancellor Slights
Attorneys: For plaintiff: Blake A. Bennett, Cooch and Taylor, P.A., Wilmington, DE; Brian J. Robbins, Stephen J. Oddo and Steven R. Wedeking, Rob-bins Arroyo LLP, San Diego, CA for plaintiff.
for defendant: Bradley R. Aronstam and Roger S. Stronach, Ross Aronstam & Moritz LLP, Wilmington, DE; Joseph S. Allerhand, Stephen A. Radin and Thomas G. James, Weil, Gotshal & Manges LLP, New York, NY for individual defendants and nominal corporate defendant.
Case Number: D68947
In this derivative action, plaintiff failed to demonstrate demand futility, so the court granted defendants' motion to dismiss the complaint in its entirety.
Publication Date: 2020-04-01
Practice Area: Corporate Entities
Industry: Energy
Court: Court of Chancery
Judge: Vice Chancellor Slights
Attorneys: For plaintiff: Francis G.X. Pileggi, Eckert Seamans Cherin & Mellott, LLC, Wilmington, DE; Michael G. Platner, John S. Poulos and Vincent F. Alexander, Lewis Brisbois Bisgaard & Smith LLP, Fort Lauderdale, FL for plaintiff.
for defendant: Andrew D. Cordo, Shannon E. German, Nora M. Crawford, Wilson Sonsini Goodrich & Rosati, P.C., Wilmington, DE ; Mat-thew A. Feldman, Todd G. Cosenza, Charles D. Cording, Willkie Farr & Gallagher LLP, New York, NY for defendant.
Case Number: D68931
An entity that had only an indirect equity interest in a limited liability company did not qualify to seek statutory dissolution of the LLC because it was neither a member nor a manager, and it was not entitled to dissolve the company as a matter of equity. Motion to dismiss granted.
Publication Date: 2020-02-19
Practice Area: Business Torts
Industry: Insurance
Court: Court of Chancery
Judge: Vice Chancellor Slights
Attorneys: For plaintiff: Peter B. Andrews, Craig J. Springer, and David M. Sborz, Andrews & Springer LLC, Wilmington, DE; Edward F. Haber, Thomas V. Urmy, Jr., Patrick J. Vallely, and Michelle H. Blauner, Shapiro Haber & Urmy LLP, Boston, MA for plaintiffs.
for defendant: Daniel A. Dreisbach, Srinivas M. Raju, Susan M. Hannigan, Sarah A. Clark, and Angela Lam, Richards, Layton & Finger, P.A., Wilmington, DE; Reid L. Ashinoff and Gary Meyerhoff, Dentons US LLP, New York, NY for defendants.
Case Number: D68878
Plaintiffs entitled to insurance benefits or sales commissions had standing to bring a Delaware Uniform Fraudulent Transfer Act claim where they could seek to reverse transfers that allegedly posed "material risk of harm" to their payments before the transfers resulted in dissipation of the assets.
Publication Date: 2020-02-19
Practice Area: Corporate Governance
Industry: Automotive
Court: Court of Chancery
Judge: Vice Chancellor Slights
Attorneys: For plaintiff: Jay W. Eisenhofer, Christine M. Mackintosh, Kelly L. Tucker, Vivek Upadhya and Daniel L. Berger, Grant & Eisenhofer, Wilmington, DE and New York, NY; Lee D. Rudy, Eric L. Zagar, Robin Winchester and Justin O. Reliford, Kessler Topaz Meltzer & Check, LLP, Radnor, PA; Randall J. Baron, David T. Wissbroecker and Maxwell R. Huffman, Robbins Geller Rudman & Dowd LLP, San Diego, CA for co-lead plaintiffs.
for defendant: David E. Ross, Garrett B. Moritz and Benjamin Z. Grossberg, Ross Aronstam & Moritz LLP, Wilmington, DE; Evan R. Chesler, Daniel Slifkin, Vanessa A. Lavely and Helam Gebremariam, Cravath, Swaine & Moore LLP, New York, NY for director defendants.
Case Number: D68883
Genuine issues of material fact precluded summary judgment regarding questions of shareholder ratification of a merger, the existence of a conflicted controller and corporate waste.
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