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  • Sorenson Impact Found. v. Cont'l Stock Transfer & Trust Co.

    Publication Date: 2022-04-19
    Practice Area: Mergers and Acquisitions
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Eric D. Selden, Anthony M. Calvano, Ross Aronstam & Moritz LLP, Wilmington, DE; Cameron M. Hancock, Adam D. Wahlquist, Kirton McConkie, Salt Lake City, UT for plaintiffs.
    for defendant: Peter B. Ladig, Bayard, P.A., Wilmington, DE; Mark A. Harmon, Erin N. Teske, Hodgson Russ LLP, New York, NY; P. Clarkson Collins, Jr., K. Tyler O'Connell, Morris James LLP, Wilmington, DE; Anna Rotman, Kirkland & Ellis LLP, Houston, TX for defendants.
    Case Number: D69783

    The court, in this diverted merger consideration case, determined that defendant was not bound by a contract's forum selection clause because it was not a party to the contract and did not have sufficient contacts with Delaware to confer jurisdiction under the long-arm statute.

  • Cirba, Inc. v. Turbonomic, Inc.

    Publication Date: 2022-04-19
    Practice Area: Mergers and Acquisitions
    Industry: E-Commerce | Software
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Douglas E. McCann, Joseph B. Warden, Kelly Allenspach Del Dotto, Fish & Richardson P.C., Wilmington, DE for plaintiff.
    for defendant: Kenneth J. Nachbar, Thomas P. Will, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Richard T. Marooney, Brent P. Ray, Allison Altersohn, Matthew Bush, King & Spalding LLP, New York, NY for defendant.
    Case Number: D69782

    The court held that the acquisition of defendant by a third-party constituted an attempted assignment, that plaintiff did not withhold consent unreasonably, and that the assignment to the third party that defendant attempted was a nullity.

  • In Re Straight Path Commc'ns Inc. Consol. Stockholder Litig.

    Publication Date: 2022-03-29
    Practice Area: Mergers and Acquisitions
    Industry: Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Ned Weinberger,Mark Richardson, Labaton Sucharow LLP, Wilmington, DE; Jeroen van Kwawegen, Edward G. Timlin, Alla Zayenchik, Bernstein Litowitz Berger & Grossmann LLP, New York, NY; Vincent R. Cappucci, Joshua K. Porter, Entwistle & Cappucci LLP, New York, NY for plaintiffs and intervenor-plaintiff.
    for defendant: Rudolf Koch, Kevin M. Gallagher, Daniel E. Kaprow, John M. O’Toole, Melissa A. Lagoumis, Richards, Layton & Finger P.A., Wilmington, DE; Thomas Uebler, McCollom D’Emilio Smith Uebler LLC, Wilmington, DE; Jason Cyrulnik, Paul Fattaruso, Cyrulnik Fattaruso LLP, New York, NY; Kevin R. Shannon, Berton W. Ashman, Jr., Jacqueline A. Rogers, David A. Seal, Potter Anderson & Corroon LLP, Wilmington, DE, for defendants.
    Case Number: D69758

    The court held that a factual record was necessary to determine the adequacy of a stockholder entity to serve as class repre-sentative.

  • Blue v. Fireman

    Publication Date: 2022-03-15
    Practice Area: Mergers and Acquisitions
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Zurn
    Attorneys: For plaintiff: Marcus E. Montejo, John G. Day, Prickett, Jones & Elliott, P.A., Wilmington, DE for plaintiffs.
    for defendant: Matthew D. Stachel, Paul, Weiss, Rifkind, Wharton & Garrison LLP, Wilmington, DE; Audra J. Soloway, Jaren Janghorbani, Maia Usui, Paul, Weiss, Rifkind, Wharton & Garrison LLP, New York, NY for defendants.
    Case Number: D69743

    The court found that plaintiffs' breach of fiduciary duty claim was a direct claim and not a derivative claim.

  • Manti Holdings, LLC v. The Carlyle Group Inc.

    Publication Date: 2022-03-01
    Practice Area: Mergers and Acquisitions
    Industry: Energy | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Rolin P. Bissell, Paul J. Loughman, Alberto E. Chávez, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; D. Patrick Long, Jonathan R. Mureen John Tancabel, Squire Patton Boggs (US) LLP, Dallas, TX for plaintiffs.
    for defendant: Albert H. Manwaring IV, Kirsten Zeberkiewicz, Morris James LLP, Wilmington, DE; Robert A. Van Kirk, Sarah F. Kirkpatrick, Lauren Uhlig, Williams & Connolly LLP, Washington, DC for defendants.
    Case Number: D69727

    The court held that plaintiffs did not waive their right to bring an action to challenge fiduciary duty breaches allegedly committed in connection with the sale of a company, or for secondary liability claims, because the contract language did not show a clear relinquishment of those rights.

  • Law Journal Press | Digital Book

    Florida Evidence and Procedure 2019

    Authors: Patrick S. Montoya, Ervin A. Gonzalez, Ervin A. Gonzalez, Ervin A. Gonzalez, Ervin A. Gonzalez

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  • In Re Straight Path Commc'ns Inc. Consol. Stockholder Litig.

    Publication Date: 2022-03-01
    Practice Area: Mergers and Acquisitions
    Industry: Investments and Investment Advisory | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Ned Weinberger,Mark Richardson, Labaton Sucharow LLP, Wilmington, DE; Jeroen van Kwawegen, Edward G. Timlin, Alla Zayenchik, Bernstein Litowitz Berger & Grossmann LLP, New York, NY; Vincent R. Cappucci, Joshua K. Porter, Entwistle& Cappucci LLP, New York, NY for plaintiffs.
    for defendant: Rudolf Koch, Kevin M. Gallagher, Daniel E. Kaprow, Richards, Layton & Finger, P.A., Wilmington, DE; Thomas Uebler, Mccollom D’Emilio Smith Uebler LLC, Wilmington, DE; Jason Cyrulnik, Paul Fattaruso, Evelyn Fruchter, Cyrulnik Fetters LLP, New York, NY; Kevin R. Shannon, Berton W. Ashman, Jr., Jacqueline A. Rogers, David A. Seal, Potter Anderson & Corroon LLP, Wilmington, DE, for defendants
    Case Number: D69726

    The court held that there were disputes over material facts regarding which entity was responsible for indemnifying a claim from a settlement with the Federal Communications Commission such that they precluded entry of summary judgment.

  • Ryan v. Buckeye Partners, L.P.

    Publication Date: 2022-02-22
    Practice Area: Mergers and Acquisitions
    Industry: Distribution and Wholesale | Energy | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Blake A. Bennett, Dean R. Roland, Cooch and Taylor, P.A., Wilmington, DE; Clinton A. Krislov, Kenneth T. Goldstein, Christopher M. Hack, Krislov & Associates, Ltd., Chicago, IL; Samuel B. Edwards, Ryan Cook, Shepherd, Smith, Edwards & Kantas, LLP, Houston, TX for plaintiff.
    for defendant: William M. Lafferty, Ryan D. Stottmann, Sabrina M. Hendershot, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Gary A. Bornstein, Rory A. Leraris, Cravath, Swaine & Moore LLP, New York, NY; Jeffrey L. Moyer, Srinivas M. Raju, Tyler E. Cragg, Richards, Layton & Finger, P.A., Wilmington, DE; Andrew W. Hammond, Steven A. Levy, White & Case LLP, New York, NY for defendants.
    Case Number: D69718

    The court held in this class action that plaintiffs failed to plead sufficient facts to support their breach of contract and breach of implied covenant claims relating to a merger that was approved by a majority of unitholders.

  • Galindo v. Stover

    Publication Date: 2022-02-08
    Practice Area: Mergers and Acquisitions
    Industry: Energy | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Blake A. Bennett, Cooch and Taylor, P.A., Wilmington, DE; Juan E. Monteverde, Monteverde & Associates PC, New York, NY for plaintiffs.
    for defendant: Kenneth J. Nachbar, Alexandra M. Cumings, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Robert S. Harrell, Charles S. Kelley, Joseph De Simone, Michael Rayfield, Mayer Brown LLP, New York, NY for defendants.
    Case Number: D69702

    The court held that the business judgment rule applied to a merger that had been approved by a majority of stockholders.

  • In re: Resolute Energy Corp. Sec. Litig.

    Publication Date: 2022-02-08
    Practice Area: Mergers and Acquisitions
    Industry: Energy | Investments and Investment Advisory
    Court: U.S. Court of Appeals for the Third Circuit
    Judge: Judge Krause
    Attorneys: For plaintiff:
    for defendant:
    Case Number: D69709

    Failure to explain alleged "actual value" of company shares or how the company's stockholders could have achieved that value in a merger transaction was fatal to fraud/breach of fiduciary duty claim.

  • The Williams Cos., Inc. v. Energy Transfer LP

    Publication Date: 2022-01-11
    Practice Area: Mergers and Acquisitions
    Industry: Energy
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Kenneth J. Nachbar, Susan W. Waesco, Matthew R. Clark, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Antony L. Ryan, Kevin J. Orsini, Michael P. Addis, David H. Korn, Cravath, Swaine & Moore LLP, New York, NY for plaintiff and counterclaim defendant.
    for defendant: Rolin P. Bissel, James M. Yoch, Jr., Alberto E. Chávez, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; Michael C. Holmes, John C. Wander, Craig E. Zieminski, Andy E. Jackson, Vinson & Elkins LLP, Dallas, TX, for defendants and counterclaim plaintiffs.
    Case Number: D69672

    The court held that defendant was contractually obligated to reimburse plaintiff for a merger termination fee of $410 million plus interest to plaintiff.