• In re P3 Health Group Holdings, LLC

    Publication Date: 2022-11-15
    Practice Area: Mergers and Acquisitions
    Industry: Health Care | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Bruce E. Jameson, Corinne Elise Amato, Eric J. Juray, Elizabeth Wang, Prickett, Jones & Elliott, P.A., Wilmington, DE; Craig Carpenito, Richard H. Walker, Samuel C. Cortina, King & Spalding LLP, New York, NY, for Hudson Vegas Investment SPV, LLC.
    for defendant: William M. Lafferty, Kevin M. Coen, Ryan D. Stottmann, Sara Toscano, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE for Jessica Puathasnanon and P3 Health Group Holdings, LLC. Kevin R. Shannon, Christopher N. Kelly, Daniel M. Rusk IV, Potter Anderson & Corroon LLP, Wilmington, DE; William K. Kane, Sheppard Mullin, Richter & Hampton LLP, Chicago, IL; James C. Wald, Sheppard Mullin Richter & Hampton LLP, Los Angeles, CA for Chicago Pacific Founders Fund, L.P., CPF P3 Splitter, LLC, Greg Kazarian, Larry Leisure, Mary Tolan, Sameer Mathur. Elena C. Norman, Paul J. Loughman, Lakshmi A. Muthu, Alberto E. Chávez, Young Conaway Stargatt & Taylor LLP, Wilmington, DE for Sherif W. Abdou, Amir Bacchus, Gary Garrett, Lorie Glisson, Taylor Leavitt, and Tom Price.

    Case Number: 2021-0518-JTL

    The court granted defendants' motions to dismiss in part.

  • AmeriMark Interactive, LLC v. AmeriMark Holdings, LLC

    Publication Date: 2022-11-15
    Practice Area: Mergers and Acquisitions
    Industry: Retail
    Court: Delaware Superior Court
    Judge: Judge Johnston
    Attorneys: For plaintiff: Andrew L. Cole, Jack M. Dougherty, Cole Schotz, P.C., Wilmington, DE; Steven L. Klepper, Brendan P. Barry, Cole Schotz, P.C., Hackensack, NJ for plaintiff.
    for defendant: Patricia R. Urban, Megan I. Brison, Pinckney, Weidinger, Urgan & Joyce LLC, Wilmington, DE; Eric B. Fisher, Sarah Dowd, Binder & Schwartz LLP, New York, NY; Anna E. Currier, James G. Gorman III, Blank Rome LLP, Wilmington, DE; Jason A. Snyderman, Charles A. Fitzpatrick, Blank Rome LLP, Philadelphia, PA; Shawna J. Henry, Blank Rome, Pittsburgh, PA for defendants.

    Case Number: N21C-12-175 MMJ CCLD

    Anti-reliance/non-recourse provisions of purchase agreement did not bar fraud claims against non-signatories where plaintiff sufficiently alleged that those parties were complicit in the contracting party's misrepresentations.

  • Bocock v. Innovate Corp.

    Publication Date: 2022-11-15
    Practice Area: Mergers and Acquisitions
    Industry: Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Fioravanti
    Attorneys: For plaintiff: John G. Harris, David B. Anthony, Berger Harris LLP, Wilmington, DE for plaintiffs.
    for defendant: Kevin G. Abrams, J. Peter Shindel, Jr., April M. Ferraro, Abrams & Bayliss LLP, Wilmington, DE; Martin S. Lessner, Daniel M. Kirshenbaum, M. Paige Valeski, Wilmington, DE, Young Conaway Stargatt & Taylor, LLP; Beth I. Z. Boland, Foley & Lardner LLP, Boston, MA; Chelsea L. Hilliard, Foley & Lardner LLP, Dallas, TX; Stephen C. Norman, Jaclyn C. Levy, Potter Anderson & Corroon LLP, Wilmington, DE; Eric Landau, Travis Biffar, Ellenoff Grossman & Schole LLP, Irvine, CA; Stephen C. Norman, Jaclyn C. Levy, Potter Anderson & Corroon LLP, Wilmington, DE; Eric Landau, Travis Biffar, Ellenoff Grossman & Schole LLP, Irvine, CA; Kurt M. Heyman, Aaron M. Nelson, Heyman Enerio Gattuso & Hirzel LLP, Wilmington, DE, attorneys for defendants.

    Case Number: 2021-0224-PAF

    Fiduciary claims largely dismissed where plaintiffs engaged in group pleading, although the court declined to dismiss claims that specifically pled how controllers usurped a corporate opportunity from the nominal corporate defendant.

  • In re P3 Health Group Holdings, LLC

    Publication Date: 2022-11-08
    Practice Area: Mergers and Acquisitions
    Industry: Health Care | Investments and Investment Advisory | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Chancellor Laster
    Attorneys: For plaintiff: Bruce E. Jameson, Corinne Elise Amato, Eric J. Juray, Elizabeth Wang, Prickett, Jones & Elliott, P.A., Wilmington, DE; Craig Carpenito, Richard H. Walker, Samuel C. Cortina, King & Spalding LLP, New York, NY for Hudson Vegas Investment SPV, LLC. William M. Lafferty, Kevin M. Coen, Ryan D. Stottmann, Sara Toscano, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE for Jessica Puathasnanon and P3 Health Group Holdings, LLC.
    for defendant: Kevin R. Shannon, Christopher N. Kelly, Daniel M. Rusk IV, Potter Anderson & Corroon LLP, Wilmington, DE; William K. Kane, Sheppard Mullin, Richter & Hampton LLP, Chicago, Il; James C. Wald, Sheppard Mullin Richter & Hampton LLP, Los Angeles, CA for Chicago Pacific Founders Fund, L.P., CPF P3 Splitter, LLC, Greg Kazarian, Larry Leisure, Mary Tolan and Sameer Mathur. Elena C. Norman, Paul J. Loughman, Lakshmi A. Muthu, Alberto E. Chávez, Young Conaway Stargatt & Taylor LLP, Wilmington, DE for Sherif W. Abdou, Amir Bacchus, Gary Garrett, Lorie Glisson, Taylor Leavitt, and Tom Price.

    Case Number: 2021-0518-JTL

    Court denied a motion to dismiss for lack of personal jurisdiction finding that the defendant, although not an official manager of the LLC, had participated "materially" in a managerial capacity.

  • In Re P3Health Group Holdings. LLC

    Publication Date: 2022-11-01
    Practice Area: Mergers and Acquisitions
    Industry: Health Care | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Bruce E. Jameson, Corinne Elise Amato, Eric J. Juray, Elizabeth Wang, Prickett, Jones & Elliott, P.A., Wilmington, DE; Craig Carpenito, Richard H. Walker, Samuel C. Cortina, King & Spalding LLP, New York, NY for Hudson Vegas Investment SPV, LLC
    for defendant: William M. Lafferty, Kevin M. Coen, Ryan D. Stottmann, Sara Toscano, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE for Jessica Puathasnanon and P3 Health Group Holdings, LLC; Kevin R. Shannon, Christopher N. Kelly, Daniel M. Rusk Iv, Potter Anderson & Corroon LLP Wilmington, DE; William K. Kane, Sheppard Mullin, Richter & Hampton LLP, Chicago, IL; James C. Wald, Sheppard Mullin Richter & Hampton LLP, Los Angeles, CA for Chicago Pacific Founders Fund, L.P., CPF P3 Splitter, LLC, Greg Kazarian, Larry Leisure, Mary Tolan, Sameer Mathur; Elena C. Norman, Paul J. Loughman, Lakshmi A. Muthu, Alberto E. Chávez, Young Conaway Stargatt & Taylor LLP, Wilmington, DE for Sherif W. Abdou, Amir Bacchus, Gary Garrett, Lorie Glisson, Taylor Leavitt, and Tom Price; Steven T. Margolin, Samuel L. Moultrie, Corrinne R. Moini, Greenberg Traurig LLP, Wilmington, DE for Foresight Acquisition Corporation, Foresight Acquisition Corporation II and Greg Wasson.

    Case Number: 2021-0518-JTL

    Court denied motion to dismiss finding defendant had sufficient minimum contacts and nexus with the State of Delaware to warrant the court's exercise of personal jurisdiction.

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  • Crispo v. Musk

    Publication Date: 2022-10-25
    Practice Area: Mergers and Acquisitions
    Industry: E-Commerce | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Chancellor McCormick
    Attorneys: For plaintiff: Michael Hanrahan, Samuel L. Closic, John G. Day, Robert B. Lackey, Prickett, Jones & Elliott, P.A., Wilmington, DE; Max Huffman, Joseph A. Pettigrew, Scott+Scott Attorneys at Law LLP, San Diego, CA; Scott R. Jacobsen, Jing-Li Yu, Scott+Scott Attorneys at Law LLP, New York, NY for plaintiff.
    for defendant: Edward B. Micheletti, Lauren N. Rosenello, Ryan M. Lindsay, Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington, DE; Alex Spiro, Andrew J. Rossman, Christopher D. Kercher, Silpa Maruri, Quinn Emanuel Urquhart & Sullivan, LLP, New York, NY for defendants.

    Case Number: 2022-0666-KSJM

    Stockholder could not assert breach of merger agreement seeking specific performance where stockholder was not a party to the merger agreement and the terms of the agreement expressly disclaimed any third-party beneficiary status for stockholder.

  • ITG Brands, LLC v. Reynolds Am., Inc.

    Publication Date: 2022-10-18
    Practice Area: Mergers and Acquisitions
    Industry: Consumer Products
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Stephen C. Norman, Matthew F. Davis, Tyler J. Leavengood, Potter Anderson & Corroon LLP, Wilmington, DE; Elizabeth B. McCallum, Gilbert S. Keteltas, Carey S. Busen, Evan M. Mannering, Baker & Hostetler, LLP, Washington, D.C.; Jim W. Phillips, Jr., Kimberly M. Marston, Brooks, Pierce, McLendon, Humphrey & Leonard, LLP, Greensboro, NC; Charles E. Coble, Brooks, Pierce, McLendon, Humphrey & Leonard, LLP, Raleigh, NC for plaintiff.
    for defendant: Gregory P. Williams, Rudolf Koch, Robert L. Burns; Matthew D. Perri, Richards, Layton & Finger, P.A., Wilmington, DE; Noel J. Francisco, C. Kevin Marshall, William D. Coglianese, Jones Day, Washington, D.C.; Stephanie E. Parker, Katrina L.S. Caseldine, Jones Day, Atlanta, GA; David B. Alden, Kevin P. Riddles, Jones Day, Cleveland, OH; Elli Leibenstein, Greenberg Traurig, LLP, Chicago, IL; Stephen L. Saxl, Greenberg Traurig, LLP, New York, NY; Andrea Shwayri Ferraro, Greenberg Traurig, P.A., West Palm Beach, FL for defendants.

    Case Number: 2017-0129-LWW

    Judgment to recover unpaid settlement payments under settlement agreement with state government constituted an assumed liability under parties' asset purchase agreement where the settlement payments were based on buyer's sales of acquired cigarette brands in the state.

  • Twitter, Inc. v. Musk

    Publication Date: 2022-09-27
    Practice Area: Mergers and Acquisitions
    Industry: E-Commerce | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Chancellor McCormick
    Attorneys: For plaintiff: Peter J. Walsh, Jr., Kevin R. Shannon, Christopher N. Kelly, Mathew A. Golden, Callan R. Jackson, Potter Anderson & Corroon LLP, Wilmington, DE; Brad D. Sorrels, Wilson Sonsini Goodrich & Rosati, P.C., Wilmington, DE; William Savitt, Bradley R. Wilson, Sarah K. Eddy, Ryan A. McLeod, Anitha Reddy, Noah B. Yavitz, Wachtell, Lipton, Rosen & Katz, New York, NY for plaintiff.
    for defendant: Edward B. Micheletti, Lauren N. Rosenello, Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington, DE; Alex Spiro, Andrew J. Rossman, Christopher D. Kercher, Silpa Maruri, Quinn Emanuel Urquhart & Sullivan LLP, New York, NY for defendants.

    Case Number: 2022-0613-KSJM

    Corporate CEO had a reasonable expectation of privacy in his work email accounts where the evidence demonstrated that company officials could only access the CEO's accounts with his express permission or as otherwise legally required.

  • Nask4Innovation Sp. Z.o.o. v. Sellers

    Publication Date: 2022-09-27
    Practice Area: Mergers and Acquisitions
    Industry: Investments and Investment Advisory | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Zurn
    Attorneys: For plaintiff: Thomas A. Uebler, Joseph L. Christensen, McCollum D’Emilio Smith Uebler LLC, Wilmington, DE for plaintiff
    for defendant: Ryan D. Stottmann, Miranda N. Gilbert, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE for defendants.

    Case Number: 2021-0406-MTZ

    Declaratory judgment action to declare release language in letter of transmittal unenforceable was not ripe where declaratory judgment would provide no benefit to the litigants as the release did not preclude the filing of a fiduciary claim where the release could be asserted as a defense to liability and resolved in that fiduciary action.

  • Bailey v. Tektronix, Inc.

    Publication Date: 2022-09-27
    Practice Area: Mergers and Acquisitions
    Industry: Electronics | Software
    Court: U.S. District Court of Delaware
    Judge: District Judge Williams
    Attorneys: For plaintiff: Robert Karl Beste, III, Jason Z. Miller, Smith, Katzenstein, & Jenkins LLP, Wilmington, DE for plaintiff.
    for defendant: Anthony David Raucci, Donna Lynn Culver, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE for defendant.

    Case Number: 21-1268-GBW

    Breach of retention holdback agreement not dismissed where parties' agreement could be reasonably interpreted to define revenue as including sales of any software or hardware products incorporating the acquired company's intellectual property.