• 250 Executive, LLC v. Christina Sch. Dist.

    Publication Date: 2022-03-15
    Practice Area: Tax
    Industry: Real Estate | State and Local Government
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Daniel F. McAllister, Tarabicos, Grosso & Hoffman LLP, New Castle, DE for petitioner.
    for defendant: David H. Williams, Michelle G. Bounds, Morris James LLP, Wilmington, DE for respondents.

    Case Number: D69742

    The court found that plaintiff's claim for declaratory judgment and injunctive relief were not equitable claims and did not confer subject matter jurisdiction on the Chancery Court.

  • Gower v. Trux, Inc.

    Publication Date: 2022-03-08
    Practice Area: Corporate Governance
    Industry: Software
    Court: Court of Chancery
    Judge: Vice Chancellor Fioravanti
    Attorneys: For plaintiff: Brandon W. McCune, Blank Rome LLP, Wilmington, DE; Patrick J. Hannon, Hartley Michon Robb Hannon, LLP, Boston, MA for plaintiff.
    for defendant: Richard M. Beck, Sean M. Brennecke, Klehr Harrison Harvey Branzburg LLP, Wilmington, DE; Lawrence P. Murray, Gregory Paonessa, Burns & Levinson LLP, Boston, MA; Kevin J. Mangan, Womble Bond Dickinson (US) LLP, Wilmington, DE; Hayden J. Silver, III, Womble Bond Dickinson (US) LLP, Raleigh, NC; S. Michael Sirkin, R. Garrett Rice, Ross Aronstam & Moritz LLP, Wilmington, DE; Scott C. Ford Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, P.C., Boston, MA; Samuel T. Hirzel, Elizabeth A. DeFelice, Heyman Enerio Gattuso & Hirzel LLP, Wilmington, DE; Kevin T. Peters, Michael D. Brier, Gesmer Updegrove LLP, Boston, MA for defendants.

    Case Number: D69734

    The court held that plaintiff adequately pled a breach of contract claim where he alleged the applicable agreement contained an unambiguous requirement that notice of share sales be given to all stockholders.

  • S'holder Representative Serv. LLC v. DC Capital Partners Fund II LP

    Publication Date: 2022-03-01
    Practice Area: Contracts
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Chancellor McCormick
    Attorneys: For plaintiff: Thomas A. Uebler, Joseph L. Christensen, Kathleen A. Murphy, Mccollom D’Emilio Smith Uebler LLC, Wilmington, DE for plaintiff.
    for defendant: Philip Trainer, Jr., Marie M. Degnan, Ashby & Geddes, Wilmington, DE for defendants.

    Case Number: D69728

    The court held that it had subject matter jurisdiction because the subject agreement was an instrument for the sale of stock, because it did not have discretion to decline jurisdiction, and because common law favored giving deference to plaintiff's choice of forum.

  • Manti Holdings, LLC v. The Carlyle Group Inc.

    Publication Date: 2022-03-01
    Practice Area: Mergers and Acquisitions
    Industry: Energy | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Rolin P. Bissell, Paul J. Loughman, Alberto E. Chávez, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; D. Patrick Long, Jonathan R. Mureen John Tancabel, Squire Patton Boggs (US) LLP, Dallas, TX for plaintiffs.
    for defendant: Albert H. Manwaring IV, Kirsten Zeberkiewicz, Morris James LLP, Wilmington, DE; Robert A. Van Kirk, Sarah F. Kirkpatrick, Lauren Uhlig, Williams & Connolly LLP, Washington, DC for defendants.

    Case Number: D69727

    The court held that plaintiffs did not waive their right to bring an action to challenge fiduciary duty breaches allegedly committed in connection with the sale of a company, or for secondary liability claims, because the contract language did not show a clear relinquishment of those rights.

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

    Publication Date: 2022-03-01
    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, Alla Zayenchik, Bernstein Litowitz Berger & Grossmann LLP, New York, NY; Vincent R. Cappucci, Joshua K. Porter, Entwistle& Cappucci LLP, New York, NY for plaintiffs.
    for defendant: Rudolf Koch, Kevin M. Gallagher, Daniel E. Kaprow, Richards, Layton & Finger, P.A., Wilmington, DE; Thomas Uebler, Mccollom D’Emilio Smith Uebler LLC, Wilmington, DE; Jason Cyrulnik, Paul Fattaruso, Evelyn Fruchter, Cyrulnik Fetters LLP, New York, NY; Kevin R. Shannon, Berton W. Ashman, Jr., Jacqueline A. Rogers, David A. Seal, Potter Anderson & Corroon LLP, Wilmington, DE, for defendants

    Case Number: D69726

    The court held that there were disputes over material facts regarding which entity was responsible for indemnifying a claim from a settlement with the Federal Communications Commission such that they precluded entry of summary judgment.

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  • Strategic Inv. Opportunities LLC v. Lee Enter., Inc.

    Publication Date: 2022-03-01
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: John D. Hendershot, Matthew W. Murphy, John T. Miraglia, Richards, Layton & Finger, P.A., Wilmington, DE; Adrienne Marie Ward, Lori Marks-Esterman, Peter M. Sartorius, Theodore J. Hawkins, Olshan Frome Wolosky LLP, New York, NY for plaintiff.
    for defendant: Michael A. Pittenger, Christopher N. Kelley, Daniel M. Rusk, IV, Justin T. Hymes, Potter Anderson & Corroon LLP, Wilmington, DE; Stefan Atkinson, Byron Pacheco, Brittney Nagle, Kirkland & Ellis LLP, New York, NY for defendants.

    Case Number: D69729

    The court held that the defendant company, through its board members, did not breach bylaw requirements when it rejected the proposed nomination to the board because the nomination notice was deficient, and the actions of the board were rea-sonable and equitable.

  • Ryan v. Buckeye Partners, L.P.

    Publication Date: 2022-02-22
    Practice Area: Mergers and Acquisitions
    Industry: Distribution and Wholesale | Energy | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Blake A. Bennett, Dean R. Roland, Cooch and Taylor, P.A., Wilmington, DE; Clinton A. Krislov, Kenneth T. Goldstein, Christopher M. Hack, Krislov & Associates, Ltd., Chicago, IL; Samuel B. Edwards, Ryan Cook, Shepherd, Smith, Edwards & Kantas, LLP, Houston, TX for plaintiff.
    for defendant: William M. Lafferty, Ryan D. Stottmann, Sabrina M. Hendershot, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Gary A. Bornstein, Rory A. Leraris, Cravath, Swaine & Moore LLP, New York, NY; Jeffrey L. Moyer, Srinivas M. Raju, Tyler E. Cragg, Richards, Layton & Finger, P.A., Wilmington, DE; Andrew W. Hammond, Steven A. Levy, White & Case LLP, New York, NY for defendants.

    Case Number: D69718

    The court held in this class action that plaintiffs failed to plead sufficient facts to support their breach of contract and breach of implied covenant claims relating to a merger that was approved by a majority of unitholders.

  • SphereCommerce, LLC v. Caulfield

    Publication Date: 2022-02-15
    Practice Area: Contracts
    Industry: Software | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: William M. Lafferty, Kevin M. Coen, Sarah P. Kaboly, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Timothy W. Knapp, P.C., Howard M. Kaplan, Aleschia D. Hyde, Kirkland & Ellis LLP, Chicago, IL for plaintiffs/counterclaim defendants.
    for defendant: Tammy L. Mercer, M. Paige Valeski, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; Evan C. Borges, Matthew S. Ingles, Greenberg Gross LLP, Costa Mesa, CA for defendants and counterclaim/third party plaintiffs.

    Case Number: D69713

    The court held that the non-disparagement clause contained in the restrictive covenant agreement between the parties was clearly a restrictive covenant.

  • BCIM Strategic Value Master Fund LP v. HFF, Inc.

    Publication Date: 2022-02-15
    Practice Area: Deals and Transactions
    Industry: Financial Services and Banking | Investments and Investment Advisory | Real Estate
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: David J. Margules, Elizabeth A. Sloan, Jessica C. Watt, Ballard Spahr LLP, Wilmington, DE; Stephen Brauerman, Emily A. Letcher, Bayard PA, Wilmington, DE; William B. Igoe, Philadelphia, PA for petitioner.
    for defendant: William M. Lafferty, Ryan D. Stottmann, Sarah P. Kaboly, Morris, Nichols, Arsht & Tunnell LLP, Wilmington DE; Marc J. Sonnenfeld, Laura H. McNally, Morgan, Lewis & Bockius LLP, Philadelphia, PA for respondent.

    Case Number: D69710

    The court, in the appraisal action, determined the fair value of the respondent and gave heavy weight to the deal price.

  • In Re Forum Mobile, Inc.

    Publication Date: 2022-02-15
    Practice Area: Corporate Entities
    Industry: Consulting
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Jeremy D. Anderson, Fish & Richardson P.C., Wilmington, DE for petitioner.
    for defendant: Mark Gentile, Richards, Layton & Finger, P.A., Wilmington, DE, Court-Appointed Amicus Curiae.

    Case Number: D69712

    The court held that §226(a)(3) of the Delaware General Corporation Law did not authorize the appointment of a custodian to revive an abandoned business.