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Publication Date: 2024-10-15
Practice Area: Corporate Governance
Industry: Investments and Investment Advisory | Technology Media and Telecom
Court: Court of Chancery
Judge: Vice Chancellor Zurn
Attorneys: For plaintiff: Michael Hanrahan, Prickett, Jones & Elliott, P.A., Wilmington, DE; Blake Rohrbacher, Richards, Layton & Finger, P.A., Wilmington, DE for plaintiffs.
for defendant: David E. Ross, Ross Aronstam & Moritz LLP, Wilmington, DE; William M. Lafferty, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE for defendants.
Case Number: 2020-0505-MTZ
Stockholders could not bring fiduciary claims against purported controller of company's parent corporation without presenting evidence of controller's hard control over the parent's voting power or an exercise of actual control over the company.
Publication Date: 2024-09-17
Practice Area: Deals and Transactions
Industry: Real Estate
Court: Court of Chancery
Judge: Vice Chancellor Zurn
Attorneys: For plaintiff: John L. Williams, Brian C. Crawford, The Williams Law Firm, P.A., Wilmington, DE for plaintiffs.
for defendant: Zi Jun Zhou and Marvin Daniels, pro se defendants.
Case Number: 2019-0831-MTZ
Court denied plaintiffs' claim for specific performance to enforce real estate sales contracts where court found that plaintiffs' claims were based on knowingly false allegations.
Publication Date: 2024-09-17
Practice Area: Trusts and Estates
Industry:
Court: Court of Chancery
Judge: Vice Chancellor Zurn
Attorneys: For plaintiff: Jason C. Powell, The Powell Firm, LLC, Wilmington, DE; John S. Malik, John S. Malik Law Office, Wilmington, DE for plaintiffs.
for defendant: John A. Sergovic, Jr., Sergovic Carmean Weidman McCartney & Owens, P.A., Georgetown, DE; Thomas A. Uebler, McCollom D’Emilio Smith Uebler LLC Wilmington, DE for defendant.
Case Number: 2020-0804-MTZ
Court could exercise personal jurisdiction over out-of-state defendant where petition sufficiently alleged that defendant engaged in tortious actions within Delaware.
Publication Date: 2024-09-17
Practice Area: Mergers and Acquisitions
Industry: Investments and Investment Advisory | Pharmaceuticals
Court: Court of Chancery
Judge: Vice Chancellor Zurn
Attorneys: For plaintiff: Michael A. Barlow, Quinn Emanuel Urquhart & Sullivan, LLP, Wilmington, DE; Andrew M. Berdon, Angus Chen, Alexandria Deep Conroy, Courtney C. Whang, Quinn Emanuel Urquhart & Sullivan, LLP, New York, NY; Joseph M. Paunovich, David M. Elihu, James Bieber, Andrew Brayton, Quinn Emanuel Urquhart & Sullivan, LLP, Los Angeles, CA for plaintiff.
for defendant: David E. Wilks, Scott B. Czerwonka, Wilks Law, LLC, Wilmington, DE; Deborah E. Fishman, Carson D. Anderson, Arnold & Porter Kaye Scholer LLP, Palo Alto, CA; Daniel L. Reisner, Jeffrey A. Fuisz, Angela R. Vicari, Matthew M. Wilk, Arnold & Porter Kaye Scholer LLP, New York, NY; Howard Sklamberg, Jeremy Cobb, Arnold & Porter Kaye Scholer LLP, Washington, DC for defendant.
Case Number: 2020-1069-MTZ
Deprioritizing and terminating drug development project fell short of commercially reasonable efforts when other companies progressed with developing competing therapies and caused the failure to meet milestones, in breach of the merger agreement.
Publication Date: 2024-09-03
Practice Area: Corporate Entities
Industry: Investments and Investment Advisory
Court: Court of Chancery
Judge: Vice Chancellor Zurn
Attorneys: For plaintiff: Thad J. Bracegirdle, Bayard, P.A., Wilmington, DE for plaintiff.
for defendant: Neil R. Lapinski, Gordon, Fournaris & Mammarella, P.A., Wilmington, DE for defendants.
Case Number: 2022-0671-MTZ
Although a corporation that was void before filing suit meant it lacked authority to pursue litigation and thus rendered the final judgment in the suit likely void, the court lacked the authority to sua sponte set aside the judgment absent fraud upon the court.
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Publication Date: 2024-08-06
Practice Area: Corporate Governance
Industry: Aerospace | Investments and Investment Advisory | Manufacturing
Court: Court of Chancery
Judge: Vice Chancellor Zurn
Attorneys: For plaintiff: Blake A. Bennett, Cooch and Taylor, P.A., Wilmington, DE for plaintiff.
for defendant: John L. Reed, DLA Piper LLP (US), Wilmington, DE for defendants.
Case Number: 2022-1124-MTZ
Derivative complaint failed due to lack of allegations of bad faith by board where record showed it never knowingly or intentionally disregarded any alleged requirement for a stockholder vote to amend corporation's employee equity awards.
Publication Date: 2024-07-30
Practice Area: Corporate Governance
Industry: Health Care | Investments and Investment Advisory
Court: Court of Chancery
Judge: Vice Chancellor Zurn
Attorneys: For plaintiff: Mark Richardson, Labaton Sucharow LLP, Wilmington, DE; Nathaniel L. Orenstein, Steven L. Groopman, Berman Tabacco, Boston, MA for plaintiff.
for defendant: Raymond J. DiCamillo, Kevin M. Gallagher, Spencer V. Crawford, Richards, Layton & Finger, P.A., Wilmington, DE; Glenn Kurtz, Andrew Hammond, White & Case LLP, New York, NY; Paul J. Lockwood, Lauren N. Rosenello, Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington, DE for defendants.
Case Number: 2022-1118-MTZ
Court dismissed derivative complaint where stockholder failed to show that a majority of the board faced personal liability for willfully ignoring deficiencies in corporate oversight systems or signs the company faced a strong likelihood of corporate trauma.
Publication Date: 2024-06-18
Practice Area: Energy and Natural Resources
Industry: Energy
Court: Court of Chancery
Judge: Vice Chancellor Zurn
Attorneys: For plaintiff: John M. Seaman, Abrams & Bayliss LLP, Wilmington, DE; Samuel T. Hirzel, II, Heyman Enerio Gattuso & Hirzel LLP, Wilmington, DE for plaintiff.
for defendant: S. Michael Sirkin, Ross Aronstam & Moritz LLP, Wilmington, DE for defendants.
Case Number: 2023-0249-MTZ
Plaintiff was not entitled to toll the statute of limitations based on alleged concealment of side deal where arbitration had already concluded that the terms of the alleged side deal were expressly included in the parties' agreement, rendering the tolling argument an impermissible collateral attack on the arbitration award.
Publication Date: 2024-06-18
Practice Area: Corporate Governance
Industry: Agriculture | Consulting | Energy
Court: Court of Chancery
Judge: Vice Chancellor Zurn
Attorneys: For plaintiff: D. McKinley Measley, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE for plaintiff.
for defendant: David L. Finger, Finger & Slanina, LLC, Wilmington, DE for defendants.
Case Number: 2023-0139-MTZ
Plaintiff sufficiently pled breach of fiduciary duty claims where the parties' operating agreement did not expressly permit fiduciaries to compete against the company or engage in self-interested transactions, but merely allowed managers to engage in other business opportunities.
Publication Date: 2024-06-03
Practice Area: Consumer Protection
Industry: E-Commerce | Entertainment and Leisure
Court: Court of Chancery
Judge: Vice Chancellor Zurn
Attorneys: For plaintiff: Ryan D. Stottmann, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE for plaintiff.
for defendant: Robert J. Kriner, Jr., Chimicles, Schwartz Kriner & Donaldson-Smith LLP, Wilmington, DE for defendant.
Case Number: 2024-0040-MTZ
Court denied confidentiality of litigation record motion where parties could not rely on a contractual provision to demand confidentiality and movant failed to overcome the presumption in favor of public access.
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