• Campus Eye Mgmt. Holdings, LLC v. DiDonato

    Publication Date: 2024-09-17
    Practice Area: Corporate Governance
    Industry: Health Care | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: David J. Margules, Elizabeth A. Sloan, Steven L. Becton, II, Ballard Spahr LLP, Wilmington, DE for plaintiff.
    for defendant: Mary F. Dugan, Emily V. Burton, Tanner C. Jameson, Alan C. Cardenas-Moreno, Young Conaway Stargatt & Taylor LLP, Wilmington, DE for defendant.

    Case Number: 2024-0121-LWW

    Court upheld transaction involving merger of operating subsidiary and amendment of its LLC agreement to remove manager, where the relevant LLC agreements and the LLC Act authorized the actions taken to facilitate the transaction.

  • TS Falcon I, LLC v. Golden Mountain Fin. Holdings Corp.

    Publication Date: 2024-09-10
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Michael A. Pittenger, Jacqueline A. Roger, Adriane M. Kappauf, Rebecca Bolinger, Potter Anderson & Corroon LLP, Wilmington, DE; Andrew J. Levander, Mauricio A. España, Dechert LLP, New York, NY; Christopher J. Merken, Julia M. Curley, Dechert LLP, Philadelphia, PA for plaintiffs.
    for defendant: Travis S. Hunter, Matthew W. Murphy, John M. O’Toole, Mari Boyle, Richards, Layton & Finger, P.A., Wilmington, DE for defendants.

    Case Number: 2023-1247-LWW

    Corporation's purposeful violation of the express prohibition of setting a retroactive record date for an annual stockholders' meeting warranted invalidating the board election results and reinstating the prior board to hold a new election.

  • Seva Holdings Inc. v. Octo Platform Equity Holdings, LLC

    Publication Date: 2024-09-10
    Practice Area: Corporate Governance
    Industry: Consulting | Investments and Investment Advisory | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Chancellor Wallace
    Attorneys: For plaintiff: Alan D. Albert, O’Hagan Meyer PLLC, Wilmington, DE; Charles M. Sims, Rachael L. Loughlin, C. Quinn Adams, O’Hagan Meyer PLLC, Richmond, VA for plaintiff.
    for defendant: Brian C. Ralston, Daniel M. Rusk, IV, Potter Anderson & Corroon LLP, Wilmington, DE; Paul A. Werner, Imad Matini, Sheppard Mullin Richter & Hampton, LLP, Washington, DC for defendant.

    Case Number: 2022-0437-PRW

    Absolute litigation privilege did not bar company from triggering its contractual membership interest repurchase option where public policy interests did not override the parties' contractual agreements.

  • MKE Holdings, Ltd. v. Schwartz

    Publication Date: 2024-09-10
    Practice Area: Corporate Governance
    Industry: Chemicals and Materials | Investments and Investment Advisory | Manufacturing
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Thomas E. Hanson, Jr., William J. Burton, Barnes & Thornburg LLP, Wilmington, DE for plaintiff.
    for defendant: Blake Rohrbacher, Matthew W. Murphy, Sandy Xu, Richards, Layton & Finger, P.A., Wilmington, DE for defendant.

    Case Number: 2018-0729-SG

    Court declined summary judgment dismissal of fraud claims where allegations of withholding of material information could support equitable tolling and plaintiffs plausibly alleged defendants' motive to fraudulently induce plaintiffs' investment.

  • In re Dell Tech., Inc. Class V Stockholders Litig.

    Publication Date: 2024-08-27
    Practice Area: Corporate Governance
    Industry: Electronics | Investments and Investment Advisory | Software
    Court: Delaware Supreme Court
    Judge: Justice Seitz
    Attorneys: For plaintiff: Stephen B. Brauerman, Sarah T. Andrade, Bayard, P.A., Wilmington, DE for appellant.
    for defendant: Ned Weinberger, Mark Richardson, Brendan W. Sullivan, Labaton Sucharow LLP, Wilmington, DE; Domenico Minerva, Joseph Cotilletta, Labaton Sucharow LLP, New York, NY; David M. Cooper, Silpa Maruri, George T. Phillips, Quinn Emanuel Urquhart & Sullivan, LLP, New York, NY; William R. Sears, Quinn Emanuel Urquhart & Sullivan, LLP, Los Angeles, CA; Peter B. Andrews, Craig J. Springer, David M. Sborz, Jackson E. Warren, Andrews & Springer LLC, Wilmington, DE; Chad Johnson, Noam Mandel, Desiree Cummings, Robert Gerson, Jonathan Zweig, Robbins Geller Rudman & Dowd LLP, New York, NY; Jeremy S. Friedman, David F.E. Tejtel, Christopher M. Windover, Lindsay La Marca, Friedman Oster & Tejtel PLLC, Bedford Hills, NY for appellee.

    Case Number: 349, 2023

    Court upheld counsel fee of 26 percent of $1 billion settlement where Delaware disfavored per se rules governing reasonableness of fee awards and chancery court adequately explained the reasonable value of the award.

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  • Erste Asset Mgmt. GmbH v. Hees

    Publication Date: 2024-08-20
    Practice Area: Corporate Governance
    Industry: Consulting | Food and Beverage | Investments and Investment Advisory | Manufacturing
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Joel Friedlander, Jeffrey M. Gorris, Christopher M. Foulds, Friedlander & Gorris, P.A., Wilmington, DE; Lawrence P. Eagel, Melissa Fortunato, Marion C. Passmore, Brandon Walker, Bragar Eagel & Squire, P.C., New York, NY for plaintiff.
    for defendant: Matthew D. Stachel, Paul, Weiss, Rifkind, Wharton & Garrison LLP, Wilmington, DE; Daniel J. Kramer, Andrew J. Ehrlich, Robert N. Kravitz, Paul, Weiss, Rifkind, Wharton & Garrison LLP, New York, NY; Michael A. Pittenger, Jacqueline A. Rogers, Caneel Radinson-Blasucci, Camilia R. Katkocin, Potter Anderson & Corroon LLP, Wilmington, DE; Sandra C. Goldstein, Stefan Atkinson, Kevin M. Neylan, Jr., Kirkland & Ellis LLP, New York, NY for defendants.

    Case Number: 2023-1191-LWW

    Court denied relief from dismissed action where "newly discovered evidence" was available to plaintiff long before it filed its initial derivative complaint.

  • Mitchell Partners, L.P. v. AMFI Corp.

    Publication Date: 2024-08-20
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor McCormick
    Attorneys: For plaintiff: R. Bruce McNew, Cooch and Taylor, P.A., Wilmington, DE for plaintiff.
    for defendant: Lisa M. Zwally, Bryan T. Reed, Greenberg Traurig, LLP, Wilmington, DE for defendants.

    Case Number: 2020-0985-KSJM ("AMFI I")

    Court denied reargument of decision finding waiver of claim where plaintiff failed to brief the claim aside from a single reference in its papers.

  • In re Kraft Heinz Demand Refused Derivative Stockholder Litig.

    Publication Date: 2024-08-06
    Practice Area: Corporate Governance
    Industry: Food and Beverage | Investments and Investment Advisory | Manufacturing
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Carmella P. Keener, Cooch & Taylor, P.A., Wilmington, DE; P. Bradford deLeeuw, deLeeuw Law LLC, Wilmington, DE; Benjamin Kaufman & Patrick Donovan, Wolf Haldenstein Freeman & Herz LLP, New York, NY; Michael Hynes, Ligaya Hernandez, Hynes & Hernandez LLC, Malvern, PA; Robert C. Schubert, Willem F. Jonckheer, Schubert Jonckheer & Kolbe LLP, San Francisco, CA; Richard D. Greenfield, Marguerite R. Goodman, Ann M. Caldweel, Greenfield & Goodman LLC, Philadelphia, PA; Fred T. Isquith, Sr., Isquith Law PLLC, New York, NY for plaintiffs.
    for defendant: Matthew D. Stachel, Paul, Weiss, Rifkind, Wharton & Garrison LLP, Wilmington, DE; Daniel J. Kramer, Andrew J. Ehrlich, William A. Clareman, Paul, Weiss, Rifkind, Wharton & Garrison LLP, New York, NY; Michael A. Pittenger, Jacqueline A. Rogers, Caneel Radinson-Blasucci, Potter Anderson & Corroon LLP, Wilmington, DE; Sandra C. Goldstein, Stefan Atkinson, Kevin M. Neylan, Jr., Kirkland & Ellis LLP, New York, NY for defendants.

    Case Number: 2022-0398-LWW

    Court dismissed derivative complaint following rejected litigation demand where plaintiff stockholders had alleged no facts demonstrating errors or improprieties in the efforts of the working group formed to investigate plaintiffs' litigation demands.

  • Exit Strategy, LLC v. Festival Retail Fund BH, L.P.

    Publication Date: 2024-08-06
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Real Estate | Retail
    Court: Delaware Supreme Court
    Judge: Justice LeGrow
    Attorneys: For plaintiff: David A. Jenkins, Jason Z. Miller, Smith, Katzenstein & Jenkins LLP, Wilmington, DE for appellant.
    for defendant: Douglas D. Herrmann, James H.S. Levine, Troutman Pepper Hamilton Sanders LLP, Wilmington, DE; Andrew W. Zepeda, Lurie, Zepeda, Schmalz, Hogan & Martin, Los Angeles, CA for appellee.

    Case Number: 318, 2023

    Special limited partner was not entitled to distribution from sale of partnership's primary asset where partnership was entitled to deduct defeasance costs to satisfy the mortgage to sell the property as a "loan interest cost."

  • Seavitt v. N-able, Inc.

    Publication Date: 2024-08-06
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Software | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Thomas Curry, Saxena White, P.A., Wilmington, DE; David Wales, Saxena White, P.A., White Plains, NY; Adam Warden, Saxena White, P.A., Boca Raton, FL; Julie Goldsmith Reiser, Richard A. Speirs, Cohen Milstein Sellers & Toll PLLC, New York, NY for plaintiff.
    for defendant: Raymond J. DiCamillo, Matthew D. Perri, Nicole M. Henry, Kevin M. Kidwell, Richards, Layton & Finger, P.A., Wilmington, DE for defendant.

    Case Number: 2023-0326-JTL

    Governance provisions transferring authority from board to controlling investors was facially invalid where such provisions had not been incorporated into the corporate charter, as charters could not incorporate private agreements by reference without rendering them non-public and preventing stockholders from amending the charter.