• Winshall v. Viacom Int'l Inc.

    Publication Date: 2019-11-20
    Practice Area: Mergers and Acquisitions
    Industry: Investments and Investment Advisory | Technology Media and Telecom
    Court: Delaware Superior Court
    Judge: Judge Davis
    Attorneys: For plaintiff:
    for defendant:

    Case Number: D68781

    The indemnification provision in the parties' merger agreement did not apply to attorney fees in first-party claims, so the court denied plaintiff's request for an award of attorney fees and expenses.

  • Fortis Advisors LLC v. Allergan W.C. Holding Inc.

    Publication Date: 2019-11-13
    Practice Area: Mergers and Acquisitions
    Industry: Health Care
    Court: Court of Chancery
    Judge: Vice Chancellor Zurn
    Attorneys: For plaintiff: Bradley R. Aronstam and Roger S. Stronach, Ross Aronstam & Moritz LLP, Wilmington, DE; Martin S. Schenker, Matthew D. Caplan and Kristine A. Forderer, Cooley LLP, San Francisco, CA; Michael A. Barlow and Daniel J. McBride, Abrams & Bay-liss LLP, Wilmington, DE
    for defendant: David W. Haller of Covington & Burling LLP, New York, NY for defendant.

    Case Number: D68769

    Plaintiff adequately stated a claim for breach of a merger agreement based on defendant's failure to make a milestone pay-ment and to use commercially reasonable efforts to obtain approval for a medical device.

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

    Publication Date: 2019-10-09
    Practice Area: Mergers and Acquisitions
    Industry: Consumer Products
    Court: Court of Chancery
    Judge: Chancellor Bouchard
    Attorneys: For plaintiff: Stephen C. Norman and Matthew F. Davis, Potter Anderson & Corroon LLP, Wilmington, DE; Robert J. Brookhiser and Elizabeth B. McCallum, Baker & Hostetler LLP, Washington, DC for plaintiff.
    for defendant: Gregory P. Williams, Rudolf Koch, Robert L. Burns, and Matthew D. Perri, Richards, Layton & Finger, P.A., Wilmington, DE; Peter J. Biersteker, C. Kevin Marshall, and William D. Coglianese, Jones Day, Washington, DC for defendant.

    Case Number: D68726

    Cross-motions for judgment on the pleadings denied where both parties advanced reasonable interpretations of their asset purchase agreement concerning the purchasing party's obligation to assume a post-closing judgment for payments under a pre-closing settlement agreement.

  • Collab9, LLC v. En Point Tech. Sales, LLC

    Publication Date: 2019-10-02
    Practice Area: Mergers and Acquisitions
    Industry: Consulting | Technology Media and Telecom
    Court: Delaware Superior Court
    Judge: Judge Johnston
    Attorneys: For plaintiff: Joel Friedlander, Jeffrey M. Gorris, and Christopher P. Quinn, Friedlander & Gorris, P.A., and Richard D. Robins and Gary Ganchrow, Parker, Milliken, Clark, O’Hara & Samualian, APC for plaintiff.
    for defendant: Karen A. Jacobs, Susan W. Waesco, and Alexandra M. Cumming, Morris, Nichols, Arsht & Tunnell LLP, and Jason R. Scherr, Joseph Bias, and Clara Kollm, Morgan, Lewis & Bockius, LLP, and David M. Stein and Sara Kelly-Kilgore, Greenberg Gross LLP for defendants.

    Case Number: D68719

    Implied covenant and good faith and fair dealing claim and fraud claim dismissed where allegations in support of both claims were duplicative of plaintiff's breach of contract claim.

  • Genuine Parts Co. v. Essendant Inc.

    Publication Date: 2019-09-25
    Practice Area: Mergers and Acquisitions
    Industry: Distribution and Wholesale
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Kenneth J. Nachbar, William M. Lafferty, and Thomas P. Will, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Richard T. Marooney, Israel Dahan, and Peter Isajiw, King & Spalding LLP, New York, NY; Jeremy M. Bylund, King & Spalding LLP, Washington, DC for plaintiff.
    for defendant: Gregory P. Williams, Lisa A. Schmidt, Matthew D. Perri, and Angela Lam, Richards, Layton & Finger, P.A., Wilmington, DE; Matthew Solum and Ian Spain, Kirkland & Ellis LLP, New York, NY for defendant.

    Case Number: D68712

    Counterparty in merger agreement was entitled to pursue a breach of contract claim despite accepting contractual termination fee where counterparty alleged that terminating party had breached the non-solicitation provisions by inviting a superior offer from a competing bidder.

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  • Kosinski v. GGP Inc.

    Publication Date: 2019-09-11
    Practice Area: Mergers and Acquisitions
    Industry: Investments and Investment Advisory | Real Estate
    Court: Court of Chancery
    Judge: Vice Chancellor McCormick
    Attorneys: For plaintiff: Seth D. Rigrodsky, Brian D. Long and Gina M. Serra, Rigrodsky & Long, P.A, Wilmington, DE; Carl L. Stine and Adam J. Blander, Wolf Popper LLP, New York, NY for plaintiff.
    for defendant: Kevin G. Abrams, John M. Seaman and Matthew L. Miller, Abrams & Bayliss LLP, Wilmington, DE; John A. Neuwirth, Evert J. Christensen, Jr., Seth Goodchild and Matthew S. Connors of Weil, Gotshal & Manges LLP for defendant.

    Case Number: D68697

    A stockholder established a proper purpose, so he was entitled to inspect books and records regarding the value of his shares and possible corporate wrongdoing.

  • In re: Appraisal of Stillwater Mining Co.

    Publication Date: 2019-09-04
    Practice Area: Mergers and Acquisitions
    Industry: Investments and Investment Advisory | Mining and Resources
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Samuel T. Hirzel, II, Elizabeth A. DeFelice, Heyman Enerio Gattuso & Hirzel LLP, Wilmington, DE; Lawrence M. Rolnick, Steven M. Hecht, Jonathan M. Kass and Glenn McGillivray, Lowenstein Sandler LLP, New York, NY for petitioners.
    for defendant: S. Mark Hurd and Lauren Neal Bennett, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; James R. Warnot, Jr., Adam S. Lurie, Brenda D. DiLuigi, Nicole E. Jerry and Elizabeth M. Raulston, Linklaters LLP, New York, NY for respondent.

    Case Number: D68690

    In this statutory appraisal proceeding, the court concluded that the deal price was the most persuasive indicator of fair value at the time of the merger.

  • Manti Holdings, LLC v. Authentix Acquisition Co., Inc.

    Publication Date: 2019-08-28
    Practice Area: Mergers and Acquisitions
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: John L. Reed, DLA Piper LLP, Wilmington, DE for petitioner.
    for defendant: Samuel A. Nolen, Richards, Layton & Finger, P.A., Wilmington, DE for respondent.

    Case Number: D68680

    Sophisticated stockholders could contractually waive statutory appraisal rights for a future transaction not yet contemplated where such waiver was expressly clear.

  • Horton v. Organogenesis Inc.

    Publication Date: 2019-08-07
    Practice Area: Mergers and Acquisitions
    Industry: Health Care | Manufacturing
    Court: Court of Chancery
    Judge: Vice Chancellor McCormick
    Attorneys: For plaintiff: John L. Reed, Matthew Denn and Peter H. Kyle, DLA Piper LLP (US), Wilmington, DE for plaintiff.
    for defendant: Carl D. Neff and Kasey H. DeSantis, Fox Rothschild LLP, Wilmington, DE; Matthew C. Baltay, Foley Hoag LLP, Boston, MA for defendant.

    Case Number: D68657

    Defendant adequately stated a counterclaim for indemnification based on breaches of representations and warranties, but the court dismissed a counterclaim for indemnification based on losses which had not yet been incurred.

  • In re: Appraisal of Jarden Corp.

    Publication Date: 2019-07-31
    Practice Area: Mergers and Acquisitions
    Industry: Consumer Products
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Stuart M. Grant, Cynthia M. Calder, Kimberly A. Evans, Kelly L. Tucker and Vivek Upadhya, Grant & Eisenhofer P.A., Wil-mington, DE for petitioners.
    for defendant: Srinivas M. Raju, Brock E. Czeschin, Robert L. Burns, Sarah A. Clark and Matthew W. Murphy, Richards, Layton & Finger, P.A., Wilmington, DE; Walter W. Davis, Michael J. McConnell and Robert A. Watts, Jones Day, Atlanta, GA for Jarden Cor-poration.

    Case Number: D68650

    In this statutory appraisal matter, the court made its own independent discounted cash flow analysis to arrive at the fair val-ue of petitioners' shares as of the merger date.