• 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.

  • 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.

  • Dolan v. Altice USA, Inc.

    Publication Date: 2019-07-10
    Practice Area: Mergers and Acquisitions
    Industry: Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: John L. Reed, Matthew Denn, Peter H. Kyle, Robert M. Hoffman and James C. Bookhout, DLA Piper LLP, Wilmington, DE for plaintiffs.
    for defendant: Daniel A. Mason, Brenda W. Sullivan, Jay Cohen and Daniel H. Levi, Paul, Weiss, Rifkind, Wharton & Garrison LLP, Wil-mington, DE and New York, NY; Kevin G. Abrams and J. Peter Shindel, Jr., Abrams & Bayliss LLP, Wilmington, DE for de-fendants.

    Case Number: D68625

    The disputed terms of a merger agreement were ambiguous, and plaintiffs adequately stated their claim for promissory es-toppel.

  • Arkansas Teacher Ret. Sys. v. Alon USA Energy, Inc.

    Publication Date: 2019-07-10
    Practice Area: Mergers and Acquisitions
    Industry: Energy | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor McCormick
    Attorneys: For plaintiff: Michael Hanrahan, Stephen D. Dargitz, Paul A. Fioravanti, Corinne Elise Amato, Kevin H. Davenport, and Eric J. Juray, Prickett, Hones & Elliott, P.A., Wilmington, DE; Michael C. Wagner, J. Daniel Albert, and Grant D. Goodhart, III, Kessler Topaz Meltzer & Check, LLP, Radnor, PA for plaintiff
    for defendant: David J. Teklits and Thomas P. Will, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Mark Oakes, William Patrick Courtney, and Ryan Metzer, Norton Rose Fulbright US LLP, Austin, TX; Raymond J. DiCamillo, Brian F. Morris, and Sara C. Hunter, Richards, Layton & Finger, P.A., Wilmington, DE; Colin B. Davis, Gibson, Dunn & Crutcher LLP, Irvine CA; Mark H. Mixon, Jr., Gibson, Dunn & Crutcher LLP, New York, NY for defendants.

    Case Number: D68624

    Defendant's motion to dismiss complaint brought by stockholder of defendant's acquired company dismissed where stockholder had standing to enforce stockholder agreement that imposed standstill agreement identical to §203 protections upon defendant.

  • 3M Co. v. Neology, Inc.

    Publication Date: 2019-07-10
    Practice Area: Mergers and Acquisitions
    Industry: Electronics | Investments and Investment Advisory
    Court: Delaware Superior Court
    Judge: Judge LeGrow
    Attorneys: For plaintiff: Rafel Z. Zahralddin-Aravena, and Jonathan M. Stemerman, Elliott Greenleaf, P.C., Wilmington, DE; Lawrence M. Shapiro and Sybil L. Dunlop, Greene Espel PLLP, Minneapolis, MN for plaintiff
    for defendant: Catherine A. Gaul, Ashby & Geddes, Wilmington, DE; John D. Alessio and Alex G. Brizolis, Procopio, Cory, Hargreaves & Savitch LLP, San Diego, CA; T. Brad Davy and Jonathan A. Choa, Potter Anderson & Corroon LLP, Wilmington, DE for defendants.

    Case Number: D68622

    Implied covenant and breach of contract claims failed where claimant failed to allege a contractual gap to be filled by the implied covenant and where the contract made indemnification the parties' sole remedy.