• In Re Chemours Co. Derivative Litig.

    Publication Date: 2021-11-16
    Practice Area: Corporate Entities
    Industry: Chemicals and Materials | Manufacturing
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Gregory V. Varallo, Bernstein Litowitz Berger & Grossmann LLP, Wilmington, DE; Mark Lebovitch, Daniel E. Meyer, Bernstein Litowitz Berger & Grossmann LLP, New York, NY; Robert D. Klausner, Stuart A. Kaufman, Klausner Kaufman Jensen & Levinson, Plantation, FL; Gustavo F. Bruckner, Daryoush Behbood, Pomerantz LLP, New York, NY; Kip B. Shuman, Shuman, Glenn & Stecker, San Francisco, CA; Rusty E. Glenn, Shuman, Glenn & Stecker, Denver, CO; Brett D. Stecker, Shuman, Glenn & Stecker, Ardmore, PA for plaintiffs.
    for defendant: Joel Friedlander, Jeffrey Gorris, Christopher Foulds, Friedlander & Gorris, P.A., Wilmington, DE; Jonathan M. Moses, Ryan A. McLeod, Justin L. Brooke, Wachtell, Lipton, Rosen & Katz, New York, NY for defendants.

    Case Number: D69607

    Plaintiffs failed to allege sufficient facts to support claim of demand futility because it could not show that officers and directors faced substantial liability for approving stock repurchases and dividend payments. Motion to dismiss granted.

  • Compagnie Des Grands Hotels D'Afrique S.A. v. Starman Hotel Holdings LLC

    Publication Date: 2021-11-02
    Practice Area: Corporate Entities
    Industry: Hospitality and Lodging
    Court: U.S. District Court of Delaware
    Judge: District Judge Bibas
    Attorneys: For plaintiff: Michael P. Kelly, Andrew S. Dupre, Sarah E. Delia, McCarter & English, LLP, Wilmington, DE; David Spears, Charlita Mays, Cynthia Chen, Spear & Simes LLP, New York, NY for plaintiff.
    for defendant: David E. Ross, S. Michael Sirkin, Ross Aronstam & Moritz LLP, Wilmington, DE for defendants.

    Case Number: D69593

    The court held that the contract between the plaintiff subsidiary and a third-party was entered into prior to the existence of the parent company such that the parent company was not liable.

  • In re Cellular Tel. P'ship Litig.

    Publication Date: 2021-10-13
    Practice Area: Corporate Entities
    Industry: Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Carmella P. Keener, Cooch and Taylor, P.A., Wilmington, DE; Thomas R. Ajamie, David S. Siegel, Ryan van Steenis, Ajamie LLP, Houston, TX; Michael A. Pullara, Houston, Texas; Marcus E. Montejo, Kevin H. Davenport, John G. Day, Prickett, Jones & Elliott, P.A., Wilmington, DE for plaintiffs
    for defendant: Maurice L. Brimmage, Jr., Akin Gump Strauss Hauer & Feld LLP, Dallas, TX; Todd C. Schiltz, Faegre Drinker Biddle & Reath LLP, Wilmington, DE; William M. Connolly, Faegre Drinker Biddle & Reath LLP, Philadelphia, PA; Zoë K. Wilhelm, Faegre Drinker Biddle & Reath LLP, Los Angeles, CA for defendants.

    Case Number: D69570

    Court declined to award dissociation damages where controlling partner failed to comply with provisions of agreement between partnership and another affiliate of the controlling partner, but where such failure did not constitute a breach of the partnership agreement.

  • Brookfield Asset Mgmt., Inc. v. Rosson

    Publication Date: 2021-10-06
    Practice Area: Corporate Entities
    Industry: Investments and Investment Advisory
    Court: Delaware Supreme Court
    Judge: Justice Valihura
    Attorneys: For plaintiff: Kevin G. Abrams, Eric A. Veres, Stephen C. Childs, Abrams & Bayliss LLP, Wilmington, DE; John A. Neuwirth, Stefania D. Venezia, Amanda K. Pooler, Weil, Gotshal & Manges LLP, New York, NY for appellants.
    for defendant: Ned Weinberger, Derrick Farrell, Mark Richardson, Labaton Sucharow LLP, Wilmington, DE; Peter B. Andrews, Craig J. Springer, David M. Sborz, Andrews & Springer LLC, Wilmington, Delaware; Steven J. Purcell, Douglas E. Julie, Robert H. Lefkowitz, Kaitlyn T. Devenyns, Purcell Julie & Lefkowitz LLP, New York, NY; Jeremy S. Friedman, David F.E. Tejtel, Friedman Oster & Tejtel PLLC, Bedford Hills, NY for appellees.

    Case Number: D69560

    Court overruled the Gentile carve-out doctrine where it created analytical tension with Tooley and other legal doctrines permitted stockholders to pursue direct claims for fiduciary breaches.

  • Manti Holdings, LLC v. Authentix Acquisition Co., Inc.

    Publication Date: 2021-09-29
    Practice Area: Corporate Entities
    Industry: E-Commerce | Investments and Investment Advisory | Technology Media and Telecom
    Court: Delaware Supreme Court
    Judge: Justice Davis
    Attorneys: For plaintiff: John L. Reed, Peter H. Kyle, Kelly L. Freund, DLA Piper LLP (US), Wilmington, DE for petitioners.
    for defendant: Samuel A. Nolen, Richards, Layton & Finger, P.A., Wilmington, DE; Andrew Hammond, Michelle Letourneau-Belock, Bryan Beaudoin, White & Case LLP, New York, NY for respondent.

    Case Number: D69551

    The Delaware Supreme court held that stockholders could waive their statutory appraisal rights.

  • Law Journal Press | Digital Book

    New Jersey Estate Litigation 2014

    Authors: Michael R. Griffinger, Paul F. Cullum III

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  • In re The Boeing Co. Derivative Litig.

    Publication Date: 2021-09-22
    Practice Area: Corporate Entities
    Industry: Aerospace | Investments and Investment Advisory | Manufacturing
    Court: Court of Chancery
    Judge: Vice Chancellor Zurn
    Attorneys: For plaintiff: Joel Friedlander, Jeffrey M. Gorris, Christopher M. Foulds, Friedlander & Gorris, P.A., Wilmington, DE; Richard M. Heimann, Katherine Lubin Benson, Lieff Cabraser Heimann & Bernstein, LLP, San Francisco, CA; Steven E. Fineman, Nicholas Diamond, Sean Petterson, Rhea Ghosh, Kartik S. Madiraju, Lieff Cabraser Heimann & Bernstein, LLP, New York, NY for plaintiffs.
    for defendant: Blake Rohrbacher, Kevin M. Gallagher, Ryan D. Konstanzer, Richards, Layton & Finger, P.A., Wilmington, DE; Joshua Z. Rabinovitz, Kirkland & Ellis LLP, Chicago, IL for defendants.

    Case Number: D69544

    Demand futility sufficiently pled by alleging that directors could face substantial likelihood of liability for failure to establish reporting systems and for ignoring warning signs regarding product safety.

  • Joint Stock Co. Commercial Bank PrivatBank v. Kolomoisky

    Publication Date: 2021-09-08
    Practice Area: Corporate Entities
    Industry: Financial Services and Banking
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Michael A. Barlow, Abrams & Bayliss LLP, Wilmington, DE; William A. Burck, Alexander J. Merton, Quinn Emanuel Urquhart & Sullivan, LLP, Washington, DC; Rollo C. Baker, Quinn Emanuel Urquhart & Sullivan, LLP. New York, NY for plaintiff.
    for defendant: David J. Margules, Elizabeth A. Sloan, Ballard Spahr LLP, Wilmington, DE; Jason Cyrulnik, Paul Fattaruso, Roche Cyrulnik Freedman LLP, Brooklyn, NY; Devin Freedman, Roche Cyrulnik Freedman LLP, Miami, FL; Raymond J. DiCamillo, Daniel E. Kaprow, Megan E. O’Connor, Richards, Layton & Finger, P.A., Wilmington, DE; Marc E. Kasowitz, Daniel R. Benson, Mark P. Ressler, Sarmad M. Khojasteh, Joshua N. Paul, Kasowitz Benson Torres LLP, New York, NY; Albert H. Manwaring, IV, Albert J. Carroll, Morris James LLP, Wilmington, DE; Dane H. Butswinkas, David S. Blatt, Matthew B. Nicholson, Tanya M. Abrams, Williams & Connolly LLP, Washington, DC for defendants.

    Case Number: D69528

    Court granted a partial stay in fraud action where resolution of the case required rulings on foreign law that were currently being resolved in a related pending suit in that foreign court.

  • In re Dissolution of Jeffco Mgmt., LLC

    Publication Date: 2021-09-01
    Practice Area: Corporate Entities
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Fioravanti
    Attorneys: For plaintiff: Jason C. Powell, The Powell Firm, LLC, Wilmington, DE, receiver for Jeffco Management, LLC. S. Michael Sirkin Ross Aronstam & Moritz LLP, Wilmington, DE for petitioner.
    for defendant: John G. Harris, Berger Harris LLP, Wilmington, DE; James Nealon, Withers Bergman LLP, New York, NY for respondent.

    Case Number: D69524

    The court granted the receiver's motion to approve an in-kind distribution of the assets of a limited liability company to one of the members, and it ordered the other member to pay attorney fees.

  • Simple Global, Inc. v. Banasik

    Publication Date: 2021-07-14
    Practice Area: Corporate Entities
    Industry: Cargo and Shipping | E-Commerce
    Court: Court of Chancery
    Judge: Vice Chancellor Fioravanti
    Attorneys: For plaintiff: Thomas G. Macauley, Macauley LLC, Wilmington, DE for plaintiff.
    for defendant: Peter K. Schaeffer, Jr., Avenue Law, Dover, DE for defendant.

    Case Number: D69466

    A former director waited too long to challenge his removal, and the court concluded that the remaining shareholders had authority to remove him from his role as a director.

  • Deutsche Bank AG v. Devon Park Bioventures, L.P.

    Publication Date: 2021-07-14
    Practice Area: Corporate Entities
    Industry: Financial Services and Banking | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Stephen C. Norman, Aaron R. Sims, Potter Anderson & Corroon LLP, Wilmington, DE; David G. Januszewski, Sheila C. Ramesh, Cahill Gordon & Reindel LLP, New York, NY for plaintiff.
    for defendant: James M. Yoch, Jr., Kevin P. Rickert, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; Kevin C. Maclay, Todd E. Phillips, Quincy M. Crawford, Nathaniel R. Miller, Caplin & Drysdale, Chartered, Washington, DC; William M. Kelleher, Phillip A. Giordano, Gordon Fournaris & Mammarella, P.A., Wilmington, DE; Ira S. Zaroff, Richard M. Zaroff, Zaroff & Zaroff LLP, Garden City, NY; P. Clarkson Collins, Jr., K. Tyler O’Connell, Albert J. Carroll, R. Eric Hacker, Damon B. Ferrara, Morris James LLP, Wilmington, DE for defendants.

    Case Number: D69464

    Transfer of an ownership interest in a Delaware entity by itself was insufficient to constitute sufficient minimum contacts to support the exercise of long-arm jurisdiction over the foreign transferor and transferee.