• Deane v. Maginn

    Publication Date: 2024-07-02
    Practice Area: Damages
    Industry: Investments and Investment Advisory | Software
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: David H. Holloway, Shlansky Law Group, LLP, Wilmington, DE; Christine M. Mackintosh, Esquire Grant & Eisenhofer P.A. Wilmington, DE for plaintiff.
    for defendant: Jody C. Barillare, Amy M. Dudash, Wilmington, DE for defendant.

    Case Number: 2017-0346-LWW

    Court declined to award pre-judgment/pre-trial interest on rescissory damages as judgment creditor was not deprived of its funds and defendant was being ordered to disgorge the benefits he accrued by usurping creditor's corporate opportunities.

  • Leon v. Orlando

    Publication Date: 2024-06-18
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: David L. Finger, Finger & Slanina, LLC, Wilmington, DE for plaintiffs.
    for defendant: Matthew D. Perri, Daniel E. Kaprow, Elizabeth J. Freud, Alfred P. Dillione, Rae Ra, Richards, Layton & Finger, P.A., Wilmington, DE for defendant.

    Case Number: 2024-0311-LWW

    Court ordered a bond due to the potential for defendant suffering financial losses in connection with a status quo order that restricted defendant from transferring securities it was set to receive.

  • In re Hennessy Capital Acquisition Corp. IV Stockholder Litig.

    Publication Date: 2024-06-18
    Practice Area: Mergers and Acquisitions
    Industry: Automotive | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: P. Bradford deLeeuw, deLeeuw Law LLC, Wilmington, DE; Robert C. Schubert, Willem F. Jonckheer, Schubert Jonckheer & Kolbe LLP, San Francisco, CA for plaintiff.
    for defendant: Kevin R. Shannon, Christopher N. Kelly, Daniel M. Rusk IV, Potter Anderson & Corroon LLP, Wilmington, DE; James W. Ducayet, Heather Benzmiller Sultanian, Thomas H. Collier, Sidley Austin LLP, Chicago, IL for defendants.

    Case Number: 2022-0571-LWW

    Breach of fiduciary duty claims arising from de-SPAC transaction dismissed where claims were based on post-merger developments and thus there was no evidence that defendants failed to disclose material information to public stockholders considering redemption or investment.

  • Brown v. Matterport, Inc.

    Publication Date: 2024-06-11
    Practice Area: Damages
    Industry: Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Joseph L. Christensen, Meghan M. Dougherty, Michael D. Bell, Christensen & Dougherty LLP, Wilmington, DE; Edward D. Totino, Benjamin W. Turner, Baker McKenzie LLP, Los Angeles, CA; Conal Doyle, Doyle Law APC, Beverly Hills, CA for plaintiff.
    for defendant: Robert L. Burns, Kyle H. Lachmund, Nicole M. Henry, Richards, Layton & Finger, P.A., Wilmington, DE; Jennifer Selendy, Joshua S. Margolin, David A. Coon, Selendy Gay PLLC, New York, NY for defendants.

    Case Number: 2021-0595-LWW

    Court rejected use of highest intermediate price method to calculate former employee's losses from improperly applied lockup where there was an adequate record to calculate the average stock price over a reasonable trading period.

  • Soleimani v. Hakkak

    Publication Date: 2024-04-29
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Brian C. Ralston, T. Brad Davey, Charles P. Wood, Abraham C. Schneider, Potter Anderson & Corroon LLP, Wilmington, DE; Douglas P. Baumstein, Ellen Shapiro, Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C., New York, NY for plaintiffs.
    for defendant: Blake Rohrbacher, Mari Boyle, Morgan R. Harrison, Richards, Layton & Finger, P.A., Wilmington, DE; Anthony M. Candido, Clifford Chance US LLP, New York, NY for defendants.

    Case Number: 2023-0948-LWW MEMORANDUM OPINION Date Submitted:

    Plaintiff's removal as an employee and manager of LLCs was ineffective where the operating agreements established payment of the fair market value of plaintiff's revenue share as a condition precedent to removal.

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  • Wright v. Silver Creek Pharm., Inc.

    Publication Date: 2024-04-08
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Pharmaceuticals
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Kevin M. Gallagher, Andrew L. Milam, Richards, Layton & Finger, P.A., Wilmington, DE, attorneys for plaintiff.
    for defendant: Lisa M. Zwally, Greenberg Traurig, LLP, Wilmington, DE, attorney for defendant.

    Case Number: 2023-1044-LWW

    Purported written consent in lieu of a meeting could not moot stockholders' request for an annual meeting where the law required the removal of incumbent directors before a non-unanimous written consent could fill the vacancies.

  • Murdick Capital Mgmt. L.P. v. QuarterNorth Energy Inc.

    Publication Date: 2024-03-11
    Practice Area: Mergers and Acquisitions
    Industry: Energy | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Bradley R. Aronstam, Roger S. Stronach, Benjamin M. Whitney, Ross Aronstam & Moritz LLP, Wilmington, DE; Jordan A. Goldstein, Lauren J. Zimmerman, Babak Ghafarzade, Selendy Gay PLLC, New York, NY for plaintiffs.
    for defendant: Blake Rohrbacher, Matthew W. Murphy, John M. O’Toole, Edmond S. Kim, Spencer V. Crawford, Margaret Rockey, Richards, Layton & Finger, P.A., Wilmington, DE; Harry P. Susman, Susman Godfrey L.L.P., Houston, TX; Thomas W. Briggs, Jr., Kirk Andersen, Morris Nichols Arsht & Tunnell LLP, Wilmington, DE; Andrew K. Glenn, Glenn Agre Bergman & Fuentes LLP, New York, NY for defendants.

    Case Number: 2024-0106-LWW

    Court declined to preliminarily enjoin invocation of drag-along rights where the invocation was not inconsistent with the terms of the proposed merger agreement or the minority securityholders' agreements and the minority could obtain monetary relief if the court ultimately found an improper invocation.

  • Clem v. Skinner

    Publication Date: 2024-03-04
    Practice Area: Corporate Governance
    Industry: Pharmaceuticals | Retail | Software
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Blake A. Bennett, Dean R. Roland, Cooch and Taylor, P.A., Wilmington, DE; Brian J. Robbins, Stephen J. Oddo, Eric M. Carrino, Robbins LLP, San Diego, CA; Leo Kandinov, Aaron T. Morris, Andrew W. Robertson, Morris Kandinov LLP, San Diego, CA for plaintiffs.
    for defendant: A. Thompson Bayliss, Samuel D. Cordle, Caleb Volz, Abrams & Bayliss LLP, Wilmington, DE; Robert G. Jones, Jessica M. Bergin, Sara A. Bellin, Ropes & Gray LLP, Boston, MA; Martin J. Crisp, Ropes & Gray LLP, New York, NY for defendants.

    Case Number: 2021-0240-LWW

    Caremark claims failed where board of directors promptly responded to whistleblower action regarding the company's billing practices by overseeing the response to the DOJ's civil investigation demands and fixing the billing software to eliminate the improper practices.

  • DiDonato v. Campus Eye Mgmt., LLC

    Publication Date: 2024-02-12
    Practice Area: Corporate Governance
    Industry: Health Care | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Mary F. Dugan, Emily V. Burton, Tanner C. Jameson, Young Conaway Stargatt & Taylor LLP, Wilmington, DE for plaintiff.
    for defendant: Ethan H. Townsend, Daniel T. Menken, Ryan D. Konstanzer, McDermott Will & Emery LLP, Wilmington, DE for defendant.

    Case Number: 2023-0671-LWW

    Manager and member of LLC remained the manager of the company where the LLC agreement required his involvement and approval for any amendment, such that the other investors in the company could not unilaterally amend the agreement to remove the manager.

  • Kellner v. AIM Immunotech Inc.

    Publication Date: 2024-01-15
    Practice Area: Corporate Governance
    Industry: Biotechnology | Pharmaceuticals
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: John M. Seaman, Eliezer Y. Feinstein, Abrams & Bayliss LLP, Wilmington, DE for plaintiff.
    for defendant: Michael A. Pittenger, William R. Denny, Matthew F. Davis, Nicholas D. Mozal, Potter Anderson & Corroon LLP, Wilmington, DE for defendants.

    Case Number: C.A. No. 2023-0879-LWW

    Court denied injunction of corporate annual meeting pending appeal where delaying the meeting could be inequitable to the company and any prejudice plaintiff might suffer in the absence of injunctive relief was partially self-inflicted.