• In re Straight Path Commc'ns Inc. Consol. Stockholder Litig.

    Publication Date: 2024-11-12
    Practice Area: Mergers and Acquisitions
    Industry: Investments and Investment Advisory | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Ned Weinberger, Mark Richardson, Labaton Sucharow LLP, Wilmington, DE; Jeroen van Kwawegen, Edward G. Timlin, Eric J. Riedel, Bernstein Litowitz Berger & Grossmann LLP, New York, NY for plaintiff.
    for defendant: Rudolf Koch, Kevin M. Gallagher, Daniel E. Kaprow, John M. O’Toole, Richards, Layton & Finger, P.A., Wilmington, DE; Thomas Uebler, McCollom D’Emilio Smith Uebler LLC, Wilmington, DE; Jason Cyrulnik, Paul Fattaruso, Matthew Henken, Cyrulnik Fattaruso LLP, New York, NY for defendants.

    Case Number: 2017-0486-SG

    Court denied plaintiff representative's motion to shift legal fees and costs where the court only awarded nominal damages and thus the stockholder class received no meaningful benefit, and where plaintiff's counsel litigated the case under a contingency arrangement.

  • Jacobs v. Akademos, Inc.

    Publication Date: 2024-11-12
    Practice Area: Mergers and Acquisitions
    Industry: E-Commerce | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Elizabeth A. Sloan, Ballard Spahr LLP, Wilmington, DE; Jason C. Spiro, Thomas M. Kenny, Marissa DeAnna, Spiro, Harrison & Nelson, Montclair, NJ for plaintiffs.
    for defendant: Geoffrey G. Grivner, Kody M. Sparks, Buchanan Ingersoll & Rooney PC, Wilmington, DE; Geoffrey G. Grivner, Kody M. Sparks, Buchanan Ingersoll & Rooney PC, Wilmington, DE; Gavin J. Rooney, Lowenstein Sandler LLP, New York, NY for defendants.

    Case Number: 2021-0346-JTL

    Court rejected appraisal and breach of fiduciary duty claims where the record evidence demonstrated that plaintiff common stockholders' equity was worthless at the time of the merger as the company's investor's liquidation and redemption rights exceeded the company's reasonable value.

  • Advent Int'l, L.P. v. Servicios Funerarios GG S.A. de C.V.

    Publication Date: 2024-11-12
    Practice Area: Mergers and Acquisitions
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: William M. Lafferty, Kevin M. Coen, Alex F. Hoeschel, Morris Nichols Arsht & Tunnell LLP, Wilmington, DE; Peter L. Welsh, Daniel V. Ward, Ropes & Gray LLP, Boston, MA; Nicholas A. S. Hoy, Andrew J. Rossman, Quinn Emanuel Urquhart & Sullivan LLP, New York, NY; Joseph Margolies, Quinn Emanuel Urquhart & Sullivan LLP, Chicago, IL; Gabriel F. Soledad, Quinn Emanuel Urquhart & Sullivan LLP, Washington, D.C. for plaintiffs.
    for defendant: Peter J. Walsh, Jr., Aaron R. Sims, Charles R. Hallinan, Potter Anderson & Corroon LLP, Wilmington, DE; David Boies, Marc Ayala, Boies Schiller Flexner LLP, Armonk, NY; Carlos M. Sires, Boies Schiller Flexner LLP, Fort Lauderdale, FL for defendant.

    Case Number: 2023-0647-LWW

    Defendant breached guarantee agreement by filing suit against a non-party in violation of the release defendant agreed to, triggering the guarantee's termination provision.

  • Berger v. Graf Acquisition, LLC

    Publication Date: 2024-11-05
    Practice Area: Mergers and Acquisitions
    Industry: Investments and Investment Advisory | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Kimberly A. Evans, Lindsey K. Faccenda, Irene R. Lax, Robert Erikson, Block & Leviton LLP, Wilmington, DE for plaintiff.
    for defendant: S. Michael Sirkin, Benjamin M. Whitney, Ross Aronstam & Moritz LLP, Wilmington, DE for defendant.

    Case Number: 2023-0873-LWW

    Court denied plaintiff's motion to compel production of documents where plaintiff had made an overbroad request for documents, with the court instead allowing defendants to produce documents under technology assisted review.

  • Abramowski v. Nuvei Corp.

    Publication Date: 2024-10-29
    Practice Area: Mergers and Acquisitions
    Industry: Financial Services and Banking | Investments and Investment Advisory
    Court: U.S. District Court of Delaware
    Judge: District Judge Williams
    Attorneys: For plaintiff: Derrick B. Farrell, Bleichmar Fonti & Auld LLP, Wilmington, DE; Javier Bleichmar, Evan A. Kubota, Thayne Stoddard, Bleichmar Fonti & Auld LLP, New York, NY for plaintiffs.
    for defendant: Kevin M. Cohen, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Brian M. Burnovski, Matthew Cormack, Chui-Lai Cheung, Davis Polk & Wardwell LLP, New York, NY for defendants.

    Case Number: 23-965-GBW

    Plaintiffs were not entitled to relief where their earnout shares were subject to forfeiture upon a change in control below a certain per share price, and defendants' gaining majority control upon expiration of the tender offer triggered the forfeiture provision.

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  • Cytotheryx, Inc. v. Castle Creek Biosciences, Inc.

    Publication Date: 2024-10-29
    Practice Area: Mergers and Acquisitions
    Industry: Biotechnology
    Court: Court of Chancery
    Judge: Chancellor Medinilla
    Attorneys: For plaintiff: Gary W. Lipkin, Michelle C. Streifthau-Livizos, Saul Ewing LLP, Wilmington, DE for plaintiff.
    for defendant: Adam V. Orlacchio, James G. Gorman III, Blank Rome LLP, Wilmington, DE for defendant.

    Case Number: 2023-1142-VLM

    Seller plausibly alleged claim of fraud where a promise to redeem preferred shares paid as consideration necessarily included promising to have the required third-party approvals to allow for the redemption.

  • Belknap Holdings, LLC v. Midwest Prototyping, LLC

    Publication Date: 2024-10-22
    Practice Area: Mergers and Acquisitions
    Industry: Manufacturing
    Court: Delaware Superior Court
    Judge: Judge Davis
    Attorneys: For plaintiff: Sarah E. Delia, McCarter & English, LLP, Wilmington, DE for plaintiffs.
    for defendant: Taylor A. Christensen, John P. DiTomo, Morris Nichols Arsht & Tunnell, LLP, Wilmington, DE for defendant.

    Case Number: N23C-10-199 EMD CCLD

    Court dismissed action on summary judgment where plaintiffs' claims fell within the scope of the dispute resolution clause in the parties' asset purchase agreement.

  • ARC Global Inv., II, LLC v. Digital World Acquisition Corp.

    Publication Date: 2024-10-01
    Practice Area: Mergers and Acquisitions
    Industry: Investments and Investment Advisory | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Matthew D. Perri, Daniel E. Kaprow, Elizabeth J. Freud, Alfred P. Dillione, Rae Ra, Richards, Layton & Finger, P.A., Wilmington, DE for plaintiff.
    for defendant: Kevin M. Coen, Jacob M. Perrone, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Bradley J. Bondi, D. Scott Carlton, Traci Zeller, Nicholas J. Griepsma, Paul Hastings LLP, Washington, D.C. for defendant.

    Case Number: 2024-0186-LWW

    Court recalculated conversion ratio following business combination where inclusion of issued shares regardless of the circumstances of issuance was consistent with the anti-dilutive purpose of the conversion.

  • Limitless Coffee, LLC v. Mott's, LLP

    Publication Date: 2024-10-01
    Practice Area: Mergers and Acquisitions
    Industry: Food and Beverage | Manufacturing
    Court: Delaware Superior Court
    Judge: Judge Davis
    Attorneys: For plaintiff: Jared T. Green, Seitz, Van Ogtrop & Green, P.A.; Christine E. Burke, Karpf, Karpf & Cerutti, P.C., Bensalem, PA for plaintiffs.
    for defendant: Brett M. McCartney, Elizabeth A. Powers, Bayard, P.A.; Sarah T. Andrade, Wilmington, DE; Christoper Patton, Leo Park, Lynn Pinker Hurst & Schwegmann, LLP, Dallas, TX for defendants.

    Case Number: N23C-12-229 EMD CCLD

    Breach of contract and implied covenant of good faith and fair dealing claims failed where parties chose not to incorporate commercially reasonable efforts clause into earnout provision.

  • ECB USA, Inc. v. Savencia, S.A.

    Publication Date: 2024-10-01
    Practice Area: Mergers and Acquisitions
    Industry: Food and Beverage
    Court: U.S. District Court of Delaware
    Judge: District Judge Williams
    Attorneys: For plaintiff: Thomas G. Macauley, Macauley LLC, Wilmington, DE; Joel S. Magolnick, John E. Kirkpatrick, Marko & Magolnick, P.A., Miami, FL for plaintiffs.
    for defendant: David W. Marston, Jr., Jody C. Barillare, Brian F. Morris, Morgan, Lewis & Bockius LLP, Wilmington, DE; Troy S. Brown, Su Jin Kim, Margot G. Bloom, Morgan, Lewis & Bockius LLP, Philadelphia, PA; Michael J. Ableson, Morgan, Lewis & Bockius LLP, New York, NY for defendants.

    Case Number: 19-cv-00731-GBW

    Tortious interference and conspiracy claims failed where there was insufficient evidence that defendant had an ulterior motive to interfere with plaintiff's business relationship.