• Neurvana Med., LLC v. Balt USA, LLC

    Publication Date: 2020-03-11
    Practice Area: Corporate Governance
    Industry: Health Care
    Court: Court of Chancery
    Judge: Vice Chancellor McCormick
    Attorneys: For plaintiff: Jason A. Cincilla, Amaryah K. Bocchino, Ryan W. Browning and Tye C. Bell, Manning Gross + Massenburg LLP, Wilmington, DE; John M. Pierce, Michael M. Pomerantz, Elizabeth C. DeGori and Matthew J. Kokot, Pierce Bainbridge Beck Price & Hecht LLP, New York, NY for plaintiff.
    for defendant: Lori W. Will, Phillip R. Sumpter, Daniyal M. Iqbal, Jeremy W. Gagas, Dylan J. Liddiard, Charles A. Talpas and Brian J. Levy, Wilson Sonsini Goodrich & Rosati, P.C., Wilmington, DE, Palo Alto, CA and New York, NY for defendants.

    Case Number: D68907

    The court denied a motion to dismiss regarding a director's pre-resignation conduct, but it dismissed the remainder of plain-tiff's contract and tort claims.

  • Salladay v. Lev

    Publication Date: 2020-03-11
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Software
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Peter B. Andrews, Craig J. Springer and David M. Sborz, Andrews and Springer LLC, Wilmington, DE; Jeremy S. Friedman and David F.E. Tejtel, Friedman Oster & Tejtel PLLC, Bedford Hills, NY for plaintiff.
    for defendant: D. McKinley Measley ad Elliott Covert, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Charles C. Platt and Andrew Sokol, Wilmer Cutler Pickering Hale and Dorr LLP, New York, NY for defendants.

    Case Number: D68908

    The court denied defendant directors' motion to dismiss, because plaintiff adequately alleged that the board was conflicted and the merger transaction was not cleansed by either a fully-informed shareholder vote or by the actions of a special committee.

  • Voigt v. Metcalf

    Publication Date: 2020-02-26
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Manufacturing
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Peter B. Andrews, Craig J. Springer and David M. Sborz, Andrews & Springer LLC, Wilmington, DE; Jeremy S. Friedman and David F.E. Tejtel, Friedman Oster & Tejtel PLLC, Bedford Hills, NY; D. Seamus Kaskela, Kaskela Law LLC, Newtown Square, PA for plaintiff.
    for defendant: Gregory P. Williams and Brock E. Czeschin, Richards, Layton & Finger, P.A., Wilmington, DE; Rachelle Silverberg, Caitlin A. Donovan and Drew C. Harris, Wachtell, Lipton, Rosen & Katz, New York, NY for defendants Metcalf, Riley, Affeldt, Kremer, Martinez, Ball, Forbes, Holland and nominal defendant NCI Building Systems. David J. Teklits and Thomas P. Will, Morris, Nichols, Arsht & Tunnell, LLP, Wilmington, DE; Shannon Rose Selden, Susan R. Gittes and Zachary H. Saltzman, Debevoise & Plimpton LLP, New York, NY for defendants Sleeper, VanArsdale, Zrebiec, Berges and Clayton, Dubilier & Rice.

    Case Number: D68892

    Plaintiff alleged sufficient facts that one of the defendants was a controlling shareholder. The court dismissed several individual defendants based on an exculpation clause, but it declined to dismiss claims as to other individual defendants.

  • Dahle v. Pope

    Publication Date: 2020-02-19
    Practice Area: Corporate Governance
    Industry: Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Blake A. Bennett, Cooch and Taylor, P.A., Wilmington, DE; Jeffrey M. Norton, Newman Ferrara LLP, New York, NY; Werner R. Kranenburg, Krankenburg, London, UK for plaintiffs.
    for defendant: Edward B. Micheletti, Lilianna Anh P. Townsend, and Mary T. Reale, Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington, Delaware for defendants.

    Case Number: D68879

    Plaintiffs' pre-suit communication to board constituted a Rule 23.1 demand where it asserted the need to take remedial action on a board decision, noted the company's susceptibility to shareholder action, and warned that plaintiffs would take advantage of shareholder remedies if no action were taken by the board.

  • In re: Tesla Motors, Inc. Stockholder Litig.

    Publication Date: 2020-02-19
    Practice Area: Corporate Governance
    Industry: Automotive
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Jay W. Eisenhofer, Christine M. Mackintosh, Kelly L. Tucker, Vivek Upadhya and Daniel L. Berger, Grant & Eisenhofer, Wilmington, DE and New York, NY; Lee D. Rudy, Eric L. Zagar, Robin Winchester and Justin O. Reliford, Kessler Topaz Meltzer & Check, LLP, Radnor, PA; Randall J. Baron, David T. Wissbroecker and Maxwell R. Huffman, Robbins Geller Rudman & Dowd LLP, San Diego, CA for co-lead plaintiffs.
    for defendant: David E. Ross, Garrett B. Moritz and Benjamin Z. Grossberg, Ross Aronstam & Moritz LLP, Wilmington, DE; Evan R. Chesler, Daniel Slifkin, Vanessa A. Lavely and Helam Gebremariam, Cravath, Swaine & Moore LLP, New York, NY for director defendants.

    Case Number: D68883

    Genuine issues of material fact precluded summary judgment regarding questions of shareholder ratification of a merger, the existence of a conflicted controller and corporate waste.

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  • Ogus v. SportTechie, Inc.

    Publication Date: 2020-02-19
    Practice Area: Corporate Governance
    Industry: Technology Media and Telecom
    Court: Court of Chancery
    Judge: Chancellor Bouchard
    Attorneys: For plaintiff: T. Brad Davey and Matthew A. Golden, Potter Anderson & Corroon LLP, Wilmington, DE; Gregory A. Markel and Tonya M. Esposito, Seyfarth Shaw LLP, New York, NY and Washington, DC for plaintiff.
    for defendant: Art C. Aramilla, Marshall Dennehey Warner Coleman & Goggin, P.C., Wilmington, DE for defendants Bloom, Bodie and Kaufman. Brian M. Rostocki, Benjamin P. Chapple, Justin M. Forcier and Michael S. Leib, Reed Smith LLP, Wilmington, DE and Chicago, IL for defendants SportTechie, Inc. and Oak View Group, LLC.

    Case Number: D68885

    Plaintiff adequately stated claims for fraud, breach of fiduciary duty and breach of contract after he was forced out of a company, but the court dismissed some of his aiding and abetting claims.

  • MKE Holdings Ltd. v. Schwartz

    Publication Date: 2020-02-12
    Practice Area: Corporate Governance
    Industry: Agriculture | Manufacturing
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Thomas E. Hanson, Jr., Barnes & Thornburg LLP, Wilmington, DE for plaintiffs.
    for defendant: Blake Rohrbacher, Richards, Layton & Finger, P.A., Wilmington, DE; John F. Hartmann and Abdus Samad Pardesi, Kirkland & Ellis LLP, Chicago, IL for defendants and nominal defendant.

    Case Number: D68875

    Limited liability company members alleged sufficient facts to support their claims against defendant managers for breaches of the operating agreement and fraud.

  • BlackRock Credit Allocation Income Trust v. Saba Capital Master Fund

    Publication Date: 2020-01-29
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory
    Court: Delaware Supreme Court
    Judge: Justice Valihura
    Attorneys: For plaintiff: William M. Lafferty, D. McKinley Measley, and Thomas P. Will, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Tariq Mundiya, Sameer Advani, Alexander L. Cheney, and Brittany M. Wagonheim, Willkie Farr & Gallagher LLP, New York, NY for appellants.
    for defendant: Carmella P. Keener, Rosenthal, Monhait & Goddess, P.A., Wilmington, DE; Carol S. Shahmoon and Gregory E. Keller, Shahmoon Keller PLLC, New York, NY for appellee.

    Case Number: D68855

    Stockholder presenting dissident slate of board nominees was not entitled to injunctive relief where, although trusts' requests for additional information was overbroad, the stockholder's failure to timely respond as required by the bylaws precluded its entitlement to relief.

  • McElrath v. Kalanick

    Publication Date: 2020-01-29
    Practice Area: Corporate Governance
    Industry: Transportation
    Court: Delaware Supreme Court
    Judge: Justice Seitz
    Attorneys: For plaintiff: Michael J. Barry, John C. Kairis and Kimberly A. Evans, Grant & Eisenhofer P.A., Wilmington, DE; Jeffrey Reeves, Atlanta, GA for plaintiff.
    for defendant: R. Judson Scaggs, Jr., Susan W. Waesco and Sabrina M. Hendershot, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Susan S. Muck, Kevin P. Muck and Marie C. Bafus, Fenwick & West LLP, San Francisco, CA for defendants Camp, Graves, Huffington, Al-Rumayyan, Gurley and Bonderman. Donald J. Wolfe, Jr., T. Brad Davey, J. Matthew Belger and Jacob R. Kirkham of Potter Anderson & Corroon LLP, Wilmington, DE; Joseph G. Petrosinelli and Kenneth J. Brown, Williams & Connolly LLP, Washington, DC for defendant Kalanick. A. Thompson Bayliss and Michael A. Barlow, Abrams & Bayliss LLP, Wilmington, DE; Mark Gimbel, C. William Phillips and Bryant Pulsipher, Covington & Burling, LLP, New York, NY and San Francisco, CA for nominal defendant Uber Tech., Inc.

    Case Number: D68860

    The majority of a corporation's board of directors was disinterested in a transaction, so the court properly dismissed this matter due to the stockholder's failure to make a demand on the board prior to filing this litigation.

  • Morrison v. Berry

    Publication Date: 2020-01-15
    Practice Area: Corporate Governance
    Industry: Food and Beverage | Investments and Investment Advisory | Retail
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Joel Friedlander, Jeffrey M. Gorris and Christopher P. Quinn, 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 and 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., Richard Li 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, Matthew F. Davis and Nicholas S. Prust, 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: D68842

    The court granted defendant directors' motions to dismiss.