• Optimis Corp v. Atkins

    Publication Date: 2021-07-28
    Practice Area: Corporate Governance
    Industry: Health Care
    Court: Court of Chancery
    Judge: Vice Chancellor Zurn
    Attorneys: For plaintiff: Theodore A. Kittila, James G. McMillan, III, William E. Green, Halloran Farkas + Kittila LLP, Wilmington, DE for plaintiff.
    for defendant: Stephen B. Brauerman, Sarah T. Andrade, Bayard, P.A., Wilmington, DE for defendants.

    Case Number: D69483

    A company adequately alleged claims for unjust enrichment and breach of fiduciary duty against former di-rectors who obtained a derivative award in favor of the company, but then failed to turn over the funds.

  • In re Cadira Group Holdings, LLC Litig.

    Publication Date: 2021-07-28
    Practice Area: Contracts
    Industry: Health Care | Insurance | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: John L. Reed, Matthew Denn, DLA Piper LLP (US), Wilmington, DE; Ardith Bronson, Maia Sevilla-Sharon, DLA Piper LLP (US), Miami, FL for plaintiff.
    for defendant: Raymond W. Cobb, Law Offices of Raymond W. Cobb, LLC (formerly with O’Hagan Meyer LLP), Wilmington, DE; Kevin F. Berry, O’Hagan Meyer LLP, Philadelphia, PA for defendants.

    Case Number: D69479

    Failure to disclose the existence of adverse litigation was sufficient to support a claim of fraudulent inducement of joint venture agreement.

  • Largo Legacy Group, LLC v. Charles

    Publication Date: 2021-07-21
    Practice Area: Business Torts
    Industry: Hospitality and Lodging | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Zurn
    Attorneys: For plaintiff: Steven T. Margolin, Lisa Zwally Brown, Samuel L. Moultrie, Greenberg Traurig, LLP, Wilmington, DE for plaintiff.
    for defendant: Jason Jowers, Bayard, P.A., Wilmington, DE for defendants.

    Case Number: D69474

    Plaintiff stated claims for breach of an operating agreement, aiding and abetting, and breach of fiduciary duty, but the court rejected his fraud claims.

  • Berteau v. Glazek

    Publication Date: 2021-07-21
    Practice Area: Mergers and Acquisitions
    Industry: Consumer Products | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Fioravanti
    Attorneys: For plaintiff: Neal C. Belgam, Robert K. Beste, Michael C. Wagner, Smith, Katzenstein & Jenkins LLP, Wilmington, DE; Peter B. Andrews, Craig Springer, Andrews & Springer LLC, Wilmington, DE; Jeremy Friedman, David Tejtel, Friedman, Oster & Tejtel, LLP, New York, NY for plaintiff.
    for defendant: John M. Seaman, Matthew L. Miller, Christopher F. Cannataro, Abrams & Bayliss LLP, Wilmington, DE; David A. Dorey, Brandon W. McCune, Blank Rome LLP, Wilmington, DE; Barry H. Genkin, Blank Rome LLP, Philadelphia, PA; Blake Rohrbacher, Christian C.F. Roberts, Richards, Layton & Finger, P.A., Wilmington, DE for defendants.

    Case Number: D69470

    Stockholder plausibly challenged merger transaction under entire fairness review where controller of both parties to merger received greater value from the transaction, a benefit not shared with the minority stockholders.

  • Pettry v. Smith

    Publication Date: 2021-07-21
    Practice Area: Corporate Governance
    Industry: Cargo and Shipping
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Robert D. Goldberg, Biggs and Battaglia, Wilmington, DE; Brian J. Robbins, Stephen J. Oddo, Emily R. Bishop, Robbins LLP, San Diego, CA for plaintiff.
    for defendant: Lisa A. Schmidt, Alexander M. Krischik, Nicole M. Henry, Richards, Layton & Finger, P.A., Wilmington, DE for individual defendants and nominal defendant FedEx Corp.

    Case Number: D69475

    The court dismissed this derivative action with prejudice, because plaintiff failed to adequately plead de-mand futility.

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  • Novarus Capital Holdings, LLC v. AFG ME West Holdings, LLC

    Publication Date: 2021-07-14
    Practice Area: Contractual Disputes
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Kevin M. Coen, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Darrell G. Waas, Patricia C. Camp-bell, Waas Campbell Rivera Johnson & Velasquez LLP, Denver, CO for plaintiff.
    for defendant: Alan D. Albert, O’Hagan Meyer PLLC, Wilmington, DE for defendants.

    Case Number: D69465

    Plaintiff adequately stated claims for reformation, declaratory relief, and breach of the implied covenant of good faith and fair dealing, but the court dismissed certain other claims against defendants.

  • 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.

  • Angel v. Warrior Met Coal Inc.

    Publication Date: 2021-07-14
    Practice Area: Corporate Entities
    Industry: Mining and Resources
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Julia B. Klein, Klein LLC, Wilmington, DE for plaintiff.
    for defendant: Matthew F. Davis, Justin T. Hymes, Potter Anderson & Corroon LLP, Wilmington, DE; Stephen M. Baldini, Brian Carney, Stephanie Lindemuth, Akin Gump Strauss Hauer & Feld LLP, New York, NY for defendant.

    Case Number: D69462

    Breach of contract, breach of fiduciary duty, and conversion claims, arising from debtor's failure to exercise his rights to receive distribution pursuant to bankruptcy court order, failed where debtor had not identified a contract or fiduciary duty for defendants to ensure he had notice of the condition precedent to debtor receiving the distribution.

  • Wilmington Trust Co. v. Mills

    Publication Date: 2021-07-14
    Practice Area: Trusts and Estates
    Industry: Non-Profit
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Vincent C. Thomas, Kevin A. Guerke, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE for petition-er.
    for defendant: P. Clarkson Collins, Jr., James J. Gallagher, Bryan Townsend, Morris James LLP, Wilmington, DE for re-spondent Mills. Matthew P. D’Emilio, Joseph L. Christensen, Kerry M. Porter, McCollom D’Emilio Smith Uebler LLC, Wilmington, DE for James B. Wyeth, executor of the Estate of Phyllis Mills Wyeth. W. Donald Sparks, II, Chad M. Shandler, Christine D. Haynes, Richards, Layton & Finger, P.A., Wilmington, DE for The Wyeth Foundation.

    Case Number: D69469

    A trust agreement did not authorize the holder of a power of appointment to exercise it in favor of a chari-table organization, so the court invalidated the appointment.