• Fir Tree Value Master Fund, LP v. Jarden Corp.

    Publication Date: 2020-08-05
    Practice Area: Mergers and Acquisitions
    Industry: Consumer Products | Investments and Investment Advisory
    Court: Delaware Superior Court
    Judge: Judge Seitz
    Attorneys: For plaintiff: Michael J. Barry, Kimberly A. Evans, Kelly L. Tucker, and Vivek Upadhya, Grant & Eisenhofer P.A., Wilmington, DE for appellants.
    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; Michael J. McConnell, Ashley F. Heintz,, and Robert A. Watts, Jones Day, Atlanta, GA for appellee.

    Case Number: D69055

    Court could use unaffected stock price as fair value where court found other valuation methods unreliable, found issues with sale process, and found capture of synergies in merger.

  • Fir Tree Value Master Fund, LP v. Jarden Corp.

    Publication Date: 2020-07-22
    Practice Area: Mergers and Acquisitions
    Industry: Consumer Products | Investments and Investment Advisory
    Court: Delaware Superior Court
    Judge: Judge Seitz
    Attorneys: For plaintiff: Michael J. Barry, Kimberly A. Evans, Kelly L. Tucker, and Vivek Upadhya, Grant &Eisenhofer P.A., Wilmington, DE for appellants.
    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; Michael J. McConnell, Ashley F. Heintz,, and Robert A. Watts, Jones Day, Atlanta, GA for appellee.

    Case Number: D69055

    Court could use unaffected stock price as fair value where court found other valuation methods unreliable, found issues with sale process, and found capture of synergies in merger.

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

    Publication Date: 2020-07-15
    Practice Area: Mergers and Acquisitions
    Industry: Energy
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Kenneth Nachbar, Susan Waesco, Matthew Clark and Zi-Xiang Shen, Morris, Nichols, Arsht & Tunnell, Wilmington, DE; Antony Ryan, Kevin Orsini and Michael Addis, Cravath, Swaine & Moore LLP, New York, NY for plaintiff.
    for defendant: Rolin Bissel, James Yoch, Jr. and Benjamin Potts, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; Michael Holmes, John Wander, Craig Zieminski and Andy Jackson, Vinson & Elkins LLP, Dallas, TX for defendants.

    Case Number: D69053

    The parties' merger agreement provided that defendant could be obligated to reimburse plaintiff for a termination fee, but other factual issues precluded summary judgment.

  • Komen v. Breyer, LLC

    Publication Date: 2020-07-15
    Practice Area: Mergers and Acquisitions
    Industry: Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Bouchard
    Attorneys: For plaintiff: Peter B. Andrews, Craig J. Springer and David M. Sborz, Andrews & Springer LLC, Wilmington, DE; Brian J. Robbins and Stephen J. Oddo, Robbins LLP, San Diego, CA; Steven J. Purcell, Douglas E. Julie and Robert H. Lefkowitz, Purcell Julie & Lefkowitz LLP, New York, NY for plaintiff.
    for defendant: Blake Rohrbacher, Rudolf Koch and Matthew W. Murphy, Richards, Layton & Finger, P.A., Wilmington, DE; Sandra C. Goldstein and Stefan Atkinson, Kirkland & Ellis LLP, New York, NY for defendants.

    Case Number: D69051

    Plaintiff failed to state either a direct or derivative claim in this action challenging a merger, so the court dismissed the complaint with prejudice.

  • Braga Inv. & Advisory, LLC v. Yenni Income Opportunities Fund I, L.P.

    Publication Date: 2020-06-24
    Practice Area: Mergers and Acquisitions
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Chancellor Bouchard
    Attorneys: For plaintiff: Blake Rohrbacher and Kevin M. Regan, Richards, Layton & Finger, P.A., Wilmington, DE; David Lackowitz and Alexandra Kolod, Moses & Singer LLP, New York, NY for plaintiff.
    for defendant: Julia B. Klein, Klein LLC, Wilmington, DE; Justin S. Stern, Frigon Maher & Stern LLP, New York, NY for defendant.

    Case Number: D69024

    Breach of contract claim failed where joinder agreement adding plaintiff as a party to a purchase agreement was not executed by all the parties required to amend the purchase agreement, thereby rendering the joinder agreement invalid.

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  • The Anschutz Corp. v. Brown Robin Capital, LLC

    Publication Date: 2020-06-24
    Practice Area: Mergers and Acquisitions
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Michael A. Pittenger, Berton W. Ashman, Jr., and David M. Hahn, Potter Anderson & Corroon LLP, Wilmington, DE; William M. Regan and David R. Michaeli, E Hogan Lovells US LLP, New York, NY; Mark C. Hansen and John Thorne, Kellogg Hansen Todd Figel & Frederick PLLC, Washington, DC for plaintiffs.
    for defendant: Rudolf Koch, Kevin M. Gallagher, and Ryan D. Konstanzer, Richards, Layton & Finger, P.A., Wilmington, DE; Jack W. Pirozzolo and Ben Schwarz, Sidley Austin LLP, Boston, MY; Christopher M. Egleson, Sidley Austin LLP, Los Angeles, CA for defendants.

    Case Number: D69022

    Buyer of company adequately pled breach of contract and fraud claims by alleging sellers knowingly made representations that breached the transaction's representations and warranties and seeking rescission of the deal.

  • Morrison v. Berry

    Publication Date: 2020-06-17
    Practice Area: Mergers and Acquisitions
    Industry: Food and Beverage | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Joel Friedlander, Jeffrey M. Gorris, Christopher P. Quinn and Bradley P. Lehman, Friedlander & Gorris, P.A., Wilmington, DE; Randall J. Baron and Christopher H. Lyons, Robbins Geller Rudman & Dowd LLP , San Diego, CA for plaintiff.
    for defendant: Rudolf Koch, Matthew D. Perri and John M. O’Toole, Richards, Layton & Finger, P.A., Wilmington, DE; Adam L. Sisitsky, Lavinia M. Weizel, Robert I. Bodian and Scott A. Rader, Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, P.C., New York, NY and Boston, MA for independent director defendants. William B. Chandler III, Bradley D. Sorrels, Lindsay K. Faccenda and Daniyal M. Iqbal, Wilson Sonsini Goodrich & Rosati, P.C., Wilmington, DE for defendant Duggan. Patricia L. Enerio, Jamie L. Brown and Gillian L. Andrews, Heyman Enerio Gattuso & Hirzell LLP, Wilmington, DE for defendant Anicetti. Kevin G. Abrams, J. Peter Shindel, Jr. and Matthew L. Miller, Abrams & Bayliss LLP, Wilmington, DE; Matthew A. Schwartz and Joshua S. Levy, Sullivan & Cromwell LLP, New York, NY for J.P. Morgan defendants. William M. Lafferty, S. Mark Hurd, Thomas W. Briggs, Jr. and Elizabeth A. Mullin, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Stuart W. Gold and Richard W. Clary, Cravath, Swaine & Moore LLP, New York, NY for defendant Cravath, Swaine & Moore, LLP. Kevin R. Shannon and Matthew F. Davis, Potter, Anderson & Corroon LLP, Wilmington, DE; Jonathan Rosenberg and Abby F. Rudzin, O’Melveny & Myers LLP, New York, NY for Apollo defendants. John L. Reed, Peter H. Kyle and David Clarke, Jr., DLA Piper LLP., Wilmington, DE and Washington, DC for Berry defendants.

    Case Number: D69017

    Plaintiff adequately alleged an aiding and abetting claim against a financial advisor, but the court dismissed the other aiding and abetting claims.

  • Gallagher Indus., LLC v. Addy

    Publication Date: 2020-06-17
    Practice Area: Mergers and Acquisitions
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Jon Abramczyk, John DiTonno, Matthew Clark, and A. Gage Whirley, Morris, Nichols, Arsht&Tunnell LLP, Wilmington, DE for plaintiff.
    for defendant: Peter Walsh, Kevin Shannon, and Callan Jackson, Potter Anderson &Corroon LLP, Wilmington, DE; Tammy Wood and Brent Hockaday, Bell Nunnally & Martin, Dallas, TX, for defendants.

    Case Number: D69016

    Fiduciary claim arising from unfair cash-out merger barred by statute of limitations and laches where plaintiff was aware of facts indicating that terms and consideration for merger were unfair and that the company had made inadequate disclosures, but chose not to pursue legal action until other stockholders prevailed in appraisal action after the limitations period had run.

  • The Am. Bottling Co. v. Repole

    Publication Date: 2020-05-27
    Practice Area: Mergers and Acquisitions
    Industry: Food and Beverage
    Court: Delaware Superior Court
    Judge: Judge LeGrow
    Attorneys: For plaintiff: Garrett B. Moritz and Anne M. Steadman, Ross Aronstam& Moritz LLP, Wilmington, DE; Robert C. Walters, Russell H. Falconer, and Megan Z. Hulce, Gibson Dunn & Crutcher LLP, Dallas, TX for plaintiff.
    for defendant: A. Thompson Bayliss and Daniel J. McBride, Abrams & Bayliss LLP, Wilmington, DE; David H. Bernstein, Jyotin Hamid, Jared I. Kaga, and Matthew J. Patrozziello, Debevois& Plimpton LLP, New York, NY for defendants.

    Case Number: D68991

    Attorney-client privilege waived for communications disclosed to counterparty in merger transaction where the merger parties' shared interests were commercial rather than legal in nature.

  • Gilbert v. Perlman

    Publication Date: 2020-05-13
    Practice Area: Mergers and Acquisitions
    Industry: E-Commerce | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Seth D. Rigrodsky, Brian D. Long and Gina M. Serra, Rigrodsky & Long, P.A., Wilmington, DE; Richard A. Maniskas, RM Law, P.C., Berwyn, PA for plaintiffs.
    for defendant: Rudolf Koch, Richards, Layton & Finger, P.A., Wilmington, DE; Deborah S. Birnbach and Morgan R. Mordecai of Goodwin Procter LLP for defendants.

    Case Number: D68977

    Minority stockholders did not form a control group with the majority stockholder, so they did not owe any fiduciary duties to plaintiffs. Motion to dismiss granted.