• Sykes v. Touchstream Tech., Inc.

    Publication Date: 2024-04-08
    Practice Area: Corporate Entities
    Industry: Investments and Investment Advisory | Software
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Sean J. Bellew, Bellew LLC, Wilmington, DE; Scott C. McAdam, Law Office of Scott C. McAdam, Henderson, NV for plaintiffs.
    for defendant: Sean A. Meluney, William M. Alleman, Jr., Stephen A. Spence, Meluney Alleman & Spence, LLC, Lewes, DE for defendants.

    Case Number: 2022-0861-SG

    Court declined to dismiss declaratory judgment and breach of contract claims where plaintiff adequately alleged that defendants failed to fulfill their contractual obligations to provide plaintiff with his creditor and equity rights.

  • In re Carvana Co. Stockholders Litig.

    Publication Date: 2024-04-08
    Practice Area: Corporate Entities
    Industry: Automotive | E-Commerce | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Chancellor McCormick
    Attorneys: For plaintiff: Christine M. Mackintosh, Rebecca A. Musarra, Grant & Eisenhofer, P.A., Wilmington, DE; Kimberly A. Evans, Robert Erikson, Irene R. Lax, Block & Leviton LLP, Wilmington, DE; Jason M. Leviton, Amanda R. Crawford, Block & Leviton LLP, Boston, MA; Ned Weinberger, Mark Richardson, Jiahui (Rose) Wang, Labaton Keller Sucharow LLP, Wilmington, DE; Domenico Minerva, John Vielandi, Labaton Keller Sucharow LLP, New York, NY for plaintiffs.
    for defendant: Joseph R. Slights III, Brad D. Sorrels, Shannon E. German, Leah E. León, Wilson Sonsini Goodrich & Rosati, P.C., Wilmington, DE; David E. Ross, Adam D. Gold, R. Garrett Rice, Ross Aronstam & Moritz LLP, Wilmington, DE; Brian M. Lutz, Gibson, Dunn & Crutcher LLP, San Francisco, CA; Colin B. Davis, Katie Beaudin, Gibson, Dunn & Crutcher LLP, Irvine, CA; John L. Reed, Ronald N. Brown, III, Peter H. Kyle, Kelly L. Freund, DLA Piper LLP (US), Wilmington, DE for defendants.

    Case Number: 2020-0415-KSJM

    Court granted special litigation committee's motion to dismiss derivative action where members were sufficiently independent and disinterested and conducted a seven-month-long investigation that uncovered sufficient evidence to support the decision to move to dismiss.

  • Perik v. Student Res. Ctr., LLC

    Publication Date: 2024-01-29
    Practice Area: Corporate Entities
    Industry: Education
    Court: Court of Chancery
    Judge: Vice Chancellor Zurn
    Attorneys: For plaintiff: Kevin M. Coen, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE for plaintiff.
    for defendant: Jeffrey J. Lyons, Baker & Hostetler LLP, Wilmington, DE for defendant.

    Case Number: 2023-0813-MTZ

    Court declined to enter summary judgment where there was a genuine issue of material fact as to whether plaintiffs had provided valid consent to the elimination/revocation of their vested advancement rights under the companies' operating agreements upon the amendment/restatement of those agreements.

  • Tatum v. Fairstead Affordable LLC

    Publication Date: 2024-01-01
    Practice Area: Corporate Entities
    Industry: Investments and Investment Advisory | Real Estate
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Thomas A. Uebler, Adam J. Waskie, Sarah P. Kaboly, McCollom D’Emilio Smith Uebler LLC, Wilmington, DE; Rudolf Koch, Richards, Layton & Finger, Wilmington, DE for plaintiffs.
    for defendant: Ryan D. Stottman, Thomas P. Will, Alec Hoeschel, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Michael B. Carlinsky, Rollo C. Baker, Jonathan E. Feder, Alison Y. Lo, Cohl K. Love, Stephanie Keleman, Quinn Emanuel Urquhart & Sullivan, LLP, New York, NY for defendants.

    Case Number: 2022-0970-JTL

    Court declined to dismiss breach of contract claim where the statute of frauds did not conclusively apply and where there were factual disputes over whether the work under the alleged contract fell within the scope of plaintiff's employment.

  • FTE Networks, Inc. v. Szkaradek

    Publication Date: 2023-12-25
    Practice Area: Corporate Entities
    Industry: Investments and Investment Advisory | Real Estate | Technology Media and Telecom
    Court: U.S. District Court of Delaware
    Judge: District Judge Bryson
    Attorneys: For plaintiff:
    for defendant:

    Case Number: 22-785-WCB

    Internal affairs doctrine did not prohibit federal court from exercising inherent powers to appoint receiver for foreign corporation under that corporation's home state's laws.

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  • Rem OA Holdings, LLC v. Northern Gold Holdings, LLC

    Publication Date: 2023-10-02
    Practice Area: Corporate Entities
    Industry:
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Thomas W. Briggs, Jr., Alexandra Cumings, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Michael C. Holmes, Jeffrey Crough, Thomas Mitsch, Vinson & Elkins LLP, Dallas, TX; Matthew R. Freidenberg, Vinson & Elkins LLP, New York, NY; Scott B. Czerwonka, D. Charles Vavala, III, Wilks Law, LLC, Wilmington, DE for plaintiffs.
    for defendant: Martin S. Lessner, Elisabeth S. Bradley, M. Paige Valeski, Young Conaway Stargatt & Taylor LLP, Wilmington, DE for defendant. John D. Hendershot, Matthew W. Murphy, Angela Lam, Richards, Layton & Finger, P.A., Wilmington, DE for nominal defendant.

    Case Number: 2022-0582-LWW

    Noting that a contracting party is obligated to read any contract it signs including any documents incorporated by reference, the court denied defendant relief because it could have discovered the challenged loan terms by exercising ordinary care.

  • Holifield v. XRI Inv. Holdings LLC

    Publication Date: 2023-09-18
    Practice Area: Corporate Entities
    Industry: Consulting | Energy | Investments and Investment Advisory
    Court: Delaware Supreme Court
    Judge: Justice Valihura
    Attorneys: For plaintiff: Michael W. McDermott, Richard I. G. Jones, Jr., David B. Anthony, Zachary J. Schnapp, Harry W. Shenton, IV, Berger Harris LLP, Wilmington, DE for appellants.
    for defendant: A. Thompson Bayliss, Eric A. Veres, Abrams & Bayliss LLP, Wilmington, DE; Robert N. Hochman, Sidley Austin LLP, Chicago, IL, Margaret Hope Allen, Angela C. Zambrano, Yolanda Cornejo Garcia, Sidley Austin LLP, Dallas, TX; Robin Wechkin, Sidley Austin LLP, Issaquah, WA for appellee.

    Case Number: 407, 2022

    Court declined to disavow jurisprudence holding that parties to an LLC agreement could impose incurable voidness on purported transactions under the agreement since the Delaware Limited Liability Company Act gave broad contractual freedom in an operating agreement.

  • Mehra v. Teller

    Publication Date: 2023-03-14
    Practice Area: Corporate Entities
    Industry: Consumer Products
    Court: Court of Chancery
    Judge: Chancellor McCormick
    Attorneys: For plaintiff: John L. Reed, Peter H. Kyle, Kelly L. Freund, DLA Piper LLP, Wilmington, DE; Patrick J. Smith, Brian T. Burns, Smith Zillazor LLP, New York, NY for plaintiffs.
    for defendant: Jon E. Abramczyk, D. McKinley Measley, Alexandra Cumings, Elizabeth A. Mullin, Sebastian Van Oudenallen, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE for defendants.

    Case Number: 2019-0812-KSJM

    Although LLC agreement entitled member to continued economic distribution rights after Holdco distributed the shares it held in its subsidiary, the subsidiary was not an indispensable party where its manager and preferred members were already parties to the action and had authority to amend the subsidiary's LLC agreement.

  • In re Lordstown Motors Corp.

    Publication Date: 2023-03-07
    Practice Area: Corporate Entities
    Industry: Automotive | Investments and Investment Advisory | Manufacturing
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Raymond J. DiCamillo, Kevin M. Gallagher, Alexander M. Krischik, Edmond S. Kim, Nicholas F. Mastria, Richards, Layton & Finger, P.A., Wilmington, DE for petitioner.
    for defendant: NA

    Case Number: 2023-0083-LWW

    Court approved de-SPAC transaction approved by Class A and Class B common stockholders voting as single class where company conducted stockholder vote in good faith belief as to its validity, the transaction was treated as effective by the equities markets, and significant harm could come to the company in the absence of validation.

  • Malkani v. Cunningham

    Publication Date: 2023-02-21
    Practice Area: Corporate Entities
    Industry: Health Care | Investments and Investment Advisory | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Philip Trainer, Jr., Marie M. Degnan, Randall J. Teti, Ashby & Geddes, Wilmington, DE; Marcos D. Jimenez, Marcos D. Jimenez, P.A., Miami, FL for plaintiffs.
    for defendant: Ryan P. Newell, Lakshmi A. Muthu, Tara C. Pakrouh, Michael A. Carbonara, Jr., Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; Michael C. Heyden, Jr., Joseph E. Brenner, Gordon Rees Scully Mansukhani, LLP, Wilmington, DE for defendants.

    Case Number: 2020-1004-SG

    Parties had reached valid and enforceable contract where plaintiff met his performance obligation under the contract and his request for ancillary documents was not material to the parties' agreement as plaintiff continued to perform.