• In re Fox Corp. Derivative Litig.

    Publication Date: 2024-01-08
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Legal Services | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Joel Friedlander, Jeffrey M. Gorris, Christopher M. Foulds, Friedlander & Gorris, P.A., Wilmington, DE; Julie Goldsmith Reiser, Molly J. Bowen, Brendan Schneiderman, Cohen Milstein Sellers & Toll PLLC, Washington, DC; Katherine Lubin Benson, Lieff Cabraser Heimann & Bernstein, LLP, San Francisco, CA; Nicholas Diamond, Gabriel A. Panek, Lieff Cabraser Heimann & Bernstein, LLP, New York, NY; Ellen Rosenblum, Attorney General, Brian A. de Haan, Senior Assistant Attorney General, Oregon Department of Justice, Portland, OR; Andrew E. Blumberg, Daniel E. Meyer, Bernstein Litowitz Berger & Grossman LLP, Wilmington, DE; Ned Weinberger, Labaton Sucharow LLP, Wilmington, DE; Christopher H. Lyons, Tayler D. Bolton, Robbins Geller Rudman & Dowd LLP, Wilmington, DE; Randall J. Baron, David A. Knotts, Robbins Geller Rudman & Dowd LLP, San Diego, CA; Lee Rudy, Eric L. Zagar, Geoffrey C. Jarvis, Kessler Topaz Meltzer & Check, LLP, Radnor, PA; Jeremy Friedman, David Tejtel, Friedman Oster & Tejtel PLLC, Bedford Hills, NY for plaintiffs.
    for defendant:

    Case Number: 2023-0418-JTL

    Court granted the application of a plaintiff team to lead a consolidated derivative action where counsel had organized the stronger litigation team and the selected plaintiffs consistent of public agencies/officials with extensive financial experience.

  • Lebanon County Employees' Ret. Fund v. Collis

    Publication Date: 2024-01-01
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Pharmaceuticals
    Court: Delaware Supreme Court
    Judge: Justice Traynor
    Attorneys: For plaintiff: Samuel L. Closic, Eric J. Juray, Prickett, Jones & Elliott, P.A., Wilmington, DE; Gregory V. Varallo, Andrew Blumberg, Bernstein Litowitz Berger & Grossman LLP, Wilmington, DE for appellants.
    for defendant: Stephen C. Norman, Jennifer C. Wasson, Tyler J. Leavengood, Christopher D. Renaud, Potter Anderson & Corroon LLP, Wilmington, DE; Michael S. Doluisio, Brittany Zoll, Christopher J. Merken, Dechert LLP, Philadelphia, PA; Matthew L. Larrabee, Hayoung Park, Julia Markham-Cameron, Dechert LLP, New York, NY; Michael D. Blanchard, Amelia Pennington, Morgan, Lewis & Bockius, LLP, Boston, MA for appellees.

    Case Number: 22, 2023

    Chancery court erred in adopting West Virginia court's factual findings through judicial notice where such facts were disputed by the parties to the present action.

  • Sunder Energy, LLC v. Jackson

    Publication Date: 2024-01-01
    Practice Area: Corporate Governance
    Industry: Energy
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Raymond J. DiCamillo, Chad M. Shandler, Steven J. Fineman, Kelly E. Farnan, Kevin M. Gallagher, Christine D. Haynes, Alexander M. Krischik, Sara M. Metzler, Richards, Layton & Finger, P.A., Wilmington, DE; Joshua Berman, Jackson Herndon, Paul C. Gross, Ben Nicholson, Michael H. Rover, Paul Hastings LLP, New York, NY for plaintiff.
    for defendant: Timothy R. Dudderar, Aaron R. Sims, Abraham C. Schneider, Potter Anderson & Corroon LLP, Wilmington, DE; Maureen M. Stewart, Foley & Lardner LLP, Tampa, FL; Jordan C. Bledsoe, Tyler Dever, Bryce W. Talbot Foley & Lardner LLP, Salt Lake City, UT; Paul J. Lockwood, Jenness E. Parker, Jessica R. Kunz, Matthew R. Conrad, Eric M. Holleran, Mallory V. Phillips, Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington, DE; Karen Hoffman Lent, Evan R. Kreiner, Skadden, Arps, Slate, Meagher & Flom LLP, New York, NY for defendants.

    Case Number: 2023-0988-JTL

    Court granted certification of denial of preliminary injunction for interlocutory appeal where such an appeal would facilitate prompt and final resolution of controlling legal issues in the case.

  • Petrleos de Venezuela, S.A. v. PDV Holding, Inc.

    Publication Date: 2023-12-11
    Practice Area: Corporate Governance
    Industry: Energy | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Fioravanti
    Attorneys: For plaintiff: Kenneth J. Nachbar, Susan W. Waesco, Alexandra Cumings, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE for plaintiff.
    for defendant: Samuel T. Hirzel, II, Jamie L. Brown, Aaron M. Nelson, Gillian L. Andrews, Brendan Patrick McDonnell, Heyman Enerio Gattuso & Hirzel LLP, Wilmington, DE; Joseph D. Pizzurro, Kevin A. Meehan, Juan O. Perla, Aubre G. Dean, Allesandra D. Tyler, Curtis, Mallet-Prevost, Colt & Mosle LLP, New York, NY for defendant.

    Case Number: 2023-0778-PAF

    Court set nominal bond as a condition for ordering the reissuance of a stock certificate, where there was no dispute over ownership of the stock and a low likelihood that the original certificate had been transferred or pledged, and where the corporation's liability for the certificate was limited by law to the value of the bond.

  • Paragon Tech., Inc. v. Cryan

    Publication Date: 2023-12-11
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Technology Media and Telecom | Transportation
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Stephen E. Jenkins, Richard D. Heins, Ashby & Geddes, P.A., Wilmington, DE; Renee M. Zaytsev, Constance M. Boland, Ned Babbitt, Thompson Hine LLP, New York, NY; Thomas Palmer, Thompson Hine LLP, Columbus, OH; Ryan Blackney, Thompson Hine LLP, Chicago, IL for plaintiff.
    for defendant: Michael A. Pittenger, Christopher N. Kelly, Tyler J. Leavengood, David A. Seal, Callan R. Jackson, Christopher D. Renaud, Ryan M. Ellingson, Potter Anderson & Corroon LLP, Wilmington, DE for defendants.

    Case Number: 2023-1013-LWW

    Court denied stockholder's motion for a preliminary injunction to require company to allow stockholder's nominees to stand for election to the board and to grant the stockholder's request for exemption from a rights plan, where stockholder failed to present sufficient evidence to demonstrate its likelihood of prevailing on its breach of fiduciary duty claims against the board.

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  • Teamsters Local 443 Health Serv. & Ins. Plan v. Chou

    Publication Date: 2023-12-04
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Pharmaceuticals
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Gregory V. Varallo, Glenn R. McGillivray, Bernstein Litowitz Berger & Grossmann LLP, Wilmington, DE; Ned Weinberger, Mark D. Richardson, Labaton Sucharow LLP, Wilmington, DE; Christine M. Mackintosh, Rebecca A. Musarra, Grant & Eisenhofer P.A., Wilmington, DE; Christopher J. Orrico, Bernstein Litowitz Berger & Grossmann LLP, New York, NY; Frank Schirripa, Hach Rose Schirripa & Cheverie LLP, New York, NY; Nathaniel L. Orenstein, Steven L. Groopman, Berman Tabacco, Boston, MA for plaintiffs.
    for defendant: William M. Lafferty, D. McKinley Measley, Thomas P. Will, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; F. Joseph Warin, Jonathan M. Phillips, Courtney M. Brown, Gibson, Dunn & Crutcher LLP, Washington, DC for defendant.

    Case Number: 2019-0816-SG

    Court dismissed derivative complaint where single-member special litigation committee conducted adequate review of the worthiness of the litigation and its conclusions were sufficiently supported by evidence, and there was an insufficient basis to question the single member's independence from other board members potentially facing liability.

  • Foote v. Mehrotra

    Publication Date: 2023-11-13
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Manufacturing | Technology Media and Telecom
    Court: U.S. District Court of Delaware
    Judge: District Judge Slomsky
    Attorneys: For plaintiff:
    for defendant:

    Case Number: 21-00169

    Court dismissed claim of misleading proxy statements where allegedly false statements about company's commitment to workforce diversity were non-actionable, aspirational puffery that was immaterial to the investing public.

  • Maginn v. Maginn

    Publication Date: 2023-10-30
    Practice Area: Corporate Governance
    Industry: Software
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Neil R. Lapinski, Phillip A. Giordano, Madeline R. Silverman, Gordon, Fournaris & Mammarella, P.A., Wilmington, DE for plaintiff.
    for defendant: Garrett B. Moritz, Ross Aronstam & Moritz LLP, Wilmington, DE; Thad J. Bracegirdle, Bayard, P.A., Wilmington, DE for defendants. Albert H. Manwaring, IV & Kirsten A. Zeberkiewicz, Morris James LLP, Wilmington, DE for nominal defendant.

    Case Number: 2023-0805-LWW

    Reasoning that the master's report in the parties' divorce proceeding had not yet been adopted by the probate court and the defendant had not been removed as a general partner of the Family LP, plaintiff, acting alone, lacked the authority to direct the Family LP through a written consent to remove another board member of nominal defendant.

  • In re ProAssurance Corp. Stockholder Derivative Litig.

    Publication Date: 2023-10-16
    Practice Area: Corporate Governance
    Industry: Insurance
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Thomas A. Uebler, McCollom D’Emilio Smith Uebler LLC, Wilmington, DE; Blake A. Bennett, Cooch and Taylor, P.A., Wilmington, DE; Melinda A. Nicholson, Nicolas Kravitz, Kahn Swick & Foti, LLC, New Orleans, LA; Benjamin I. Sachs-Michaels, Glancy Prongay & Murray LLP, New York, NY; Robert V. Prongay, Pavithra Rajesh, Glancy Prongay & Murray LLP, Los Angeles, CA for plaintiffs.
    for defendant: Raymond J. DiCamillo, Kevin M. Gallagher, Nicholas F. Mastria, Richards, Layton & Finger, P.A., Wilmington, DE; Jonathan Youngwood, Janet A. Gochman, Jacob Lundqvist, Simpson Thacher & Bartlett LLP, New York, NY for defendants.

    Case Number: 2022-0034-LWW

    Court dismissed shareholders' derivative complaint for failure to plead demand futility where plaintiffs' fiduciary claims against the company's directors and officers failed to set forth a prima facie case of personal liability such that the board could not independently consider a litigation demand.

  • Barbey v. Cerego, Inc.

    Publication Date: 2023-10-16
    Practice Area: Corporate Governance
    Industry: E-Commerce | Non-Profit
    Court: Court of Chancery
    Judge: Vice Chancellor Fioravanti
    Attorneys: For plaintiff: Neil R. Lapinski, Phillip A. Giordano, Madeline R. Silverman, Gordon, Fournaris & Mammarella, P.A., Wilmington, DE for plaintiffs.
    for defendant: Kenneth H. Young, intervenor, pro se.

    Case Number: 2022-0107-PAF

    Finding that plaintiffs had not demonstrated that board action was required to authorize defendant's wholly owned subsidiary's tender offer that resulted in its becoming defendant's majority stockholder, the court concluded that plaintiffs had not satisfied their burden to invalidate individual plaintiff's removal as a director of defendant's board.