• Adams v. Klein

    Publication Date: 2021-10-13
    Practice Area: Securities Litigation
    Industry: Investments and Investment Advisory | Pharmaceuticals
    Court: U.S. District Court of Delaware
    Judge: District Judge Andrews
    Attorneys: For plaintiff: Gregory Fischer, Cozen O'Connor, Wilmington, DE; Martin S. Bloor, Michael B. de Leeuw, Matthew L. Elkin, Cozen O'Connor, New York, NY for plaintiffs.
    for defendant: John Klein, Alpine, New Jersey, pro se defendant.

    Case Number: D69566

    Plaintiffs proved securities fraud under Section 10(b) and Rule 10b-5 and a violation of N.J.S.A. §49:3-71(a)(2) and common law fraud where defendant committed multiple misrepresentations during the sale of securities.

  • Henry v. Wilmington Trust, N.A.

    Publication Date: 2021-09-29
    Practice Area: Securities Litigation
    Industry: Investments and Investment Advisory
    Court: U.S. District Court of Delaware
    Judge: District Judge Noreika
    Attorneys: For plaintiff: David A. Felice, Bailey & Glasser, LLP, Wilmington, DE; Gregory Y. Porter, Ryan T. Jenny, Patrick O. Muench, Bailey & Glasser, LLP, Washington, DC; Daniel Feinberg, Todd Jackson, Feinberg, Jackson, Worthman & Wasow LLP, Berkeley, CA for plaintiff.
    for defendant: Albert H. Manwaring, Kristen A. Zeberkiewicz, Morris James LLP; Michael J. Prame, Sarah M. Adams, Elizabeth L. Woods, Groom Law Group, Chartered, Washington, DC; Art C. Arnailla, Marshall Dennehey Warner Coleman & Goggin, P.C., Wilmington, DE; Mark A. Nebrig, Kristen J. Kenley, Moore & Van Allen PLLC, Charlotte, NC for defendants.

    Case Number: D69557

    Court declined to enforce arbitration clause in ERISA employee stock plan where there was a genuine issue of material fact as to whether employee had affirmatively assented to the arbitration clause.

  • Diep v. Sather

    Publication Date: 2021-08-18
    Practice Area: Securities Litigation
    Industry: Food and Beverage | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Chancellor McCormick
    Attorneys: For plaintiff: Peter B. Andrews, Craig J. Springer, David M. Sborz, Andrews & Springer LLC, Wilmington, DE; Hung G. Ta, Joo Yun Kim, Natalia D. Williams, Hung G. Ta, Esq, PLLC, New York, NY; Peter Safirstein, Elizabeth S. Metcalf, Safirstein Metcalf LLP, New York, NY for plaintiff.
    for defendant: Kurt M. Heyman, Elizabeth A. DeFelice, Jamie L. Brown, Heyman Enerio Gattuso & Hirzel LLP, Wilmington, DE; Adam H. Offenhartz, Gibson, Dunn & Crutcher LLP, New York, NY; Tyler H. Amass, Gibson, Dunn & Crutcher LLP, Denver, CO for the Special Litigation Committee.

    Case Number: D69505

    A special litigation committee conducted a fair and extensive evaluation of the insider trading claims in this case, so the court granted the committee's motion to dismiss this action.

  • Cont'l Investors Fund LLC v. TradingScreen Inc.

    Publication Date: 2021-08-18
    Practice Area: Securities Litigation
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Kevin G. Abrams, John M. Seaman, Stephen C. Childs, Abrams & Bayliss LLP, Wilmington, DE for plaintiff.
    for defendant: Brian C. Ralston, Jaclyn C. Levy, Callan R. Jackson, Potter Anderson & Corroon LLP, Wilmington, DE for defendants.

    Case Number: D69503

    Company did not breach its obligations under stock redemption agreement when it initially declined to redeem all of participating stockholders' shares, where company's directors engaged in reasonable, good faith analysis that led the directors to conclude that redeeming all participating shares could jeopardize company's status as going concern.

  • Garfield v. Shutterfly, Inc.

    Publication Date: 2021-06-09
    Practice Area: Securities Litigation
    Industry: E-Commerce | Investments and Investment Advisory
    Court: U.S. Court of Appeals for the Third Circuit
    Judge: Judge Scirica
    Attorneys: For plaintiff: Blake A. Bennett, Cooch & Taylor, Wilmington, DE; Adam Frankel, Greenwich Legal Associates, Greenwich, CT; Juan E. Monteverde, Miles D. Schreiner, Monteverde & Associates, New York, NY for appellant.
    for defendant: Lewis R. Clayton, Paul A. Paterson, Justin Ward, Paul Weiss, Rifkind Wharton & Garrison, New York, NY; Daniel A. Mason, Paul Weiss Rifkind Wharton & Garrison, Wilmington, DE for appellee.

    Case Number: D69423

    Proxy statement in support of shareholder approval of merger was not materially misleading where share values were expressly identified as the calculations of the company's financial advisor, rather than statements of fact, and the proxy identified the projections that were used to calculate each particular set of share values.

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  • In re: Forum Mobile, Inc.

    Publication Date: 2021-04-07
    Practice Area: Securities Litigation
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Jeremy D. Anderson, Fish & Richardson, P.C., Wilmington, DE for petitioner.
    for defendant: N/A

    Case Number: D69353

    Delaware had a public policy interest in preventing the use of Delaware entities to circumvent federal se-curities laws, so the court appointed an amicus curiae to provide an independent review before ruling on the pending petition.

  • Scott v. Vantage Corp.

    Publication Date: 2021-02-24
    Practice Area: Securities Litigation
    Industry: Investments and Investment Advisory | Software
    Court: U.S. Court of Appeals for the Third Circuit
    Judge: Judge Shwartz
    Attorneys: For plaintiff:
    for defendant:

    Case Number: D69307

    Plaintiffs failed to establish their claims for misrepresentation or breach of fiduciary duty in connection with the sale of unregistered securities, and the trial court did not err in denying a motion for substitution of parties.

  • Well Thrive Ltd. v. SemiLEDs Corp.

    Publication Date: 2021-01-06
    Practice Area: Securities Litigation
    Industry: Investments and Investment Advisory | Manufacturing
    Court: U.S. District Court of Delaware
    Judge: District Judge Noreika
    Attorneys: For plaintiff: David S. Eagle, Sean M. Brennecke, Klehr Harrison Harvey Branzburg LLP, Wilmington, DE; Robert D. We-ber, Sheppard, Mullin, Richter & Hampton LLP, Los Angeles, CA for plaintiff.
    for defendant: Henry E. Gallagher, Jr., Lauren P. DeLuca, Connolly Gallagher LLP, Wilmington, DE; Dan Woods, Musick, Peeler & Garrett LLP, Los Angeles, CA for defendant.

    Case Number: D69253

    Plaintiff was not entitled to relief on its unjust enrichment claim because a contract governed the parties' relationship, but the court awarded declaratory relief in plaintiff's favor.

  • In re Advance Auto Parts, Inc. Sec. Litig.

    Publication Date: 2020-11-25
    Practice Area: Securities Litigation
    Industry: Investments and Investment Advisory | Retail
    Court: U.S. District Court of Delaware
    Judge: District Judge Andrews
    Attorneys: For plaintiff: P. Bradford deLeeuw, Deleeuw Law LLC, Wilmington, DE; Sharan Nirmul, Jonathan F. Neumann, Raphael Janove, Kessler Topaz Meltzer & Check, LLP, Radnor, PA; Stacey M. Kaplan, Kessler Topaz Meltzer & Check, LLP, San Francisco, CA for plaintiff.
    for defendant: Samuel A. Nolen, Katharine L. Mowery, Richards Layton & Finger, P.A., Wilmington, DE; Douglas P. Baumstein, Claudine Columbres, Susan L. Grace, Camille M. Shepherd, Sequoia Kaul, White & Case LLP, New York, NY for defendant.

    Case Number: D69200

    Certification of class counsel in securities action granted where establishment of all but one of the Cammer and Krogman factors supported a presumption of market efficiency in defendant company's publicly-traded stock.

  • SLF Holdings, LLC v. Uniti Fiber Holdings, Inc.

    Publication Date: 2020-11-18
    Practice Area: Securities Litigation
    Industry: E-Commerce | Technology Media and Telecom
    Court: U.S. District Court of Delaware
    Judge: District Judge Stark
    Attorneys: For plaintiff: Stephen B. Brauerman, Emily A. Letcher, Bayard, P.A., Wilmington, DE; Edward S. Sledge IV, Dylan C. Black, Zachary A. Madonia, Emily M. Ruzic, Stanley E. Blackmon, Bradley Arant Boult Cummings LLP, Bir-mingham, AL for plaintiff.
    for defendant: John P. DiTomo, Sabrina M. Hendershot, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Jerome E. Speegle, Anthony M. Hoffman, Speegle, Hoffman, Holman & Holifield, LLC, Mobile, AL; Blake Rohrbacher, Kelly E. Farnan, Richards, Layton & Finger, P.A., Wilmington, DE; Edmund Polubinski III, Brian M. Burnovski, Davis Polk & Wardwell LLP, New York, NY for defendants.

    Case Number: D69196

    The court granted defendants' motions to dismiss plaintiff's federal securities and state law claims.