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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.
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.
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.
Publication Date: 2023-12-11
Practice Area: Corporate Governance
Industry: Investments and Investment Advisory | Technology Media and Telecom | Transportation
Court: Court of Chancery
Judge: Vice Chancellor Will
Attorneys: For plaintiff: Stephen E. Jenkins, Richard D. Heins, Ashby & Geddes, P.A., Wilmington, DE; Renee M. Zaytsev, Constance M. Boland, Ned Babbitt, Thompson Hine LLP, New York, NY; Thomas Palmer, Thompson Hine LLP, Columbus, OH; Ryan Blackney, Thompson Hine LLP, Chicago, IL for plaintiff.
for defendant: Michael A. Pittenger, Christopher N. Kelly, Tyler J. Leavengood, David A. Seal, Callan R. Jackson, Christopher D. Renaud, Ryan M. Ellingson, Potter Anderson & Corroon LLP, Wilmington, DE for defendants.
Case Number: 2023-1013-LWW
Court denied stockholder's motion for a preliminary injunction to require company to allow stockholder's nominees to stand for election to the board and to grant the stockholder's request for exemption from a rights plan, where stockholder failed to present sufficient evidence to demonstrate its likelihood of prevailing on its breach of fiduciary duty claims against the board.
Publication Date: 2023-10-30
Practice Area: Corporate Governance
Industry: Software
Court: Court of Chancery
Judge: Vice Chancellor Will
Attorneys: For plaintiff: Neil R. Lapinski, Phillip A. Giordano, Madeline R. Silverman, Gordon, Fournaris & Mammarella, P.A., Wilmington, DE for plaintiff.
for defendant: Garrett B. Moritz, Ross Aronstam & Moritz LLP, Wilmington, DE; Thad J. Bracegirdle, Bayard, P.A., Wilmington, DE for defendants. Albert H. Manwaring, IV & Kirsten A. Zeberkiewicz, Morris James LLP, Wilmington, DE for nominal defendant.
Case Number: 2023-0805-LWW
Reasoning that the master's report in the parties' divorce proceeding had not yet been adopted by the probate court and the defendant had not been removed as a general partner of the Family LP, plaintiff, acting alone, lacked the authority to direct the Family LP through a written consent to remove another board member of nominal defendant.
Law Journal Press | Digital Book
Authors: Gary L. Brown
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Publication Date: 2023-10-16
Practice Area: Corporate Governance
Industry: Insurance
Court: Court of Chancery
Judge: Vice Chancellor Will
Attorneys: For plaintiff: Thomas A. Uebler, McCollom D’Emilio Smith Uebler LLC, Wilmington, DE; Blake A. Bennett, Cooch and Taylor, P.A., Wilmington, DE; Melinda A. Nicholson, Nicolas Kravitz, Kahn Swick & Foti, LLC, New Orleans, LA; Benjamin I. Sachs-Michaels, Glancy Prongay & Murray LLP, New York, NY; Robert V. Prongay, Pavithra Rajesh, Glancy Prongay & Murray LLP, Los Angeles, CA for plaintiffs.
for defendant: Raymond J. DiCamillo, Kevin M. Gallagher, Nicholas F. Mastria, Richards, Layton & Finger, P.A., Wilmington, DE; Jonathan Youngwood, Janet A. Gochman, Jacob Lundqvist, Simpson Thacher & Bartlett LLP, New York, NY for defendants.
Case Number: 2022-0034-LWW
Court dismissed shareholders' derivative complaint for failure to plead demand futility where plaintiffs' fiduciary claims against the company's directors and officers failed to set forth a prima facie case of personal liability such that the board could not independently consider a litigation demand.
Publication Date: 2023-10-02
Practice Area: Corporate Entities
Industry:
Court: Court of Chancery
Judge: Vice Chancellor Will
Attorneys: For plaintiff: Thomas W. Briggs, Jr., Alexandra Cumings, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Michael C. Holmes, Jeffrey Crough, Thomas Mitsch, Vinson & Elkins LLP, Dallas, TX; Matthew R. Freidenberg, Vinson & Elkins LLP, New York, NY; Scott B. Czerwonka, D. Charles Vavala, III, Wilks Law, LLC, Wilmington, DE for plaintiffs.
for defendant: Martin S. Lessner, Elisabeth S. Bradley, M. Paige Valeski, Young Conaway Stargatt & Taylor LLP, Wilmington, DE for defendant. John D. Hendershot, Matthew W. Murphy, Angela Lam, Richards, Layton & Finger, P.A., Wilmington, DE for nominal defendant.
Case Number: 2022-0582-LWW
Noting that a contracting party is obligated to read any contract it signs including any documents incorporated by reference, the court denied defendant relief because it could have discovered the challenged loan terms by exercising ordinary care.
Publication Date: 2023-09-18
Practice Area: Business Torts
Industry: Financial Services and Banking | Manufacturing
Court: Court of Chancery
Judge: Vice Chancellor Will
Attorneys: For plaintiff: Kevin M. Capuzzi, Kate Harmon, Benesch, Friedlander, Coplan & Aronoff LLP, Wilmington, DE; Andrew G. Fiorella, Nathan H. Boninger, Benesch, Friedlander, Coplan & Aronoff LLP, Cleveland, OH for plaintiffs.
for defendant: Joseph B. Cicero, Thomas A. Youngman, Chipman Brown Cicero & Cole, LLP, Wilmington, DE; Jeffrey H. Zaiger, Judd Linden, Zaiger LLC, New York, NY; David E. Ross, S. Michael Sirkin, Thomas C. Mandracchia, Ross Aronstam & Moritz LLP, Wilmington, DE for defendants.
Case Number: 2022-0378-LWW
Although unsecured creditor could not pierce the corporate veil as to the controller, it adequately pled fraudulent transfer and successor liability claims against an affiliate that acquired all of a fellow affiliate's assets, when the circumstances of the sale supported an inference that the transfer was designed to place assets out of creditors' reach.
Publication Date: 2023-09-04
Practice Area: Contracts
Industry: Education | Software | Technology Media and Telecom
Court: Court of Chancery
Judge: Vice Chancellor Will
Attorneys: For plaintiff: Laurence C. Cronin, Kelly A. Green, Smith, Katzenstein & Jenkins LLP, Wilmington, DE; William J. Leahy, Tanner McCarron, Littler Mendelson, P.C., Philadelphia, PA for plaintiffs.
for defendant: Richard P. Rollo, Travis S. Hunter, Tyler E. Cragg, Griffin A. Schoenbaum, Richards, Layton & Finger, P.A., Wilmington, DE for defendants.
Case Number: 2023-0546-LWW
Former employees did not breach non-compete agreements where the agreements specifically defined competition as in the business lines of the employer's parent company rather than the employer that the employees worked for.
Publication Date: 2023-07-31
Practice Area: Contracts
Industry: Entertainment and Leisure
Court: Court of Chancery
Judge: Vice Chancellor Will
Attorneys: For plaintiff: F. Troupe Mickler IV, Ashby & Geddes, P.A., Wilmington, DE; Edgar G. Sargent, Susman Godfrey L.L.P., Seattle, WA for plaintiff.
for defendant: Sarah E. Delia, McCarter & English, LLP, Wilmington, DE for defendant.
Case Number: 2021-0476-LWW
Plaintiff's motion for summary judgment to enforce an option right for which it bargained to pay $1,000 but did not make payment was denied and defendant's cross-motion for summary judgment was granted.
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