• Giesecke+Devrient Mobile Security Am., Inc. v. NXT-ID, Inc.

    Publication Date: 2021-03-31
    Practice Area: Corporate Entities
    Industry: Financial Services and Banking
    Court: Court of Chancery
    Judge: Vice Chancellor Fioravanti
    Attorneys: For plaintiff: Lewis H. Lazarus, K. Tyler O’Connell, Bryan Townsend, Morris James LLP, Wilmington, DE; Aryeh S. Portnoy, Emily Alban, Crowell & Moring LLP, Washington, DC for plaintiff.
    for defendant: S. Mark Hurd, Alexandra M. Cummings, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Michael T. Sullivan, David E. Danovitch, Clark A. Freeman, Sullivan & Worcester LLP, New York, NY for defendant.

    Case Number: D69345

    The plain language of a contract provided that a holder of preferred stock was entitled to dividends at a higher rate in perpetuity.

  • Endowment Research Group, LLC v. Wildcat Venture Partners, LLC

    Publication Date: 2021-03-24
    Practice Area: Contracts
    Industry: Consulting | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor McCormick
    Attorneys: For plaintiff: ohn M. Seaman, E. Wade Houston, Abrams & Bayliss LLP, Wilmington, DE; William C. Price, Michael T. Zeller, Quinn Emanuel Urquhart & Sullivan, LLP, Los Angeles, CA for plaintiff.
    for defendant: Gregory P. Williams, Robert L. Burns, Megan E. O’Connor, Richards, Layton & Finger, P.A, Wilmington, DE; Kathleen H. Goodhart, Cooley LLP, San Francisco, CA for defendant.

    Case Number: D69336

    Chancery court could exercise subject matter jurisdiction over alleged breach of contract claim where equitable relief might be required for breach of a NDA to prevent future misappropriation and because calculation of legal damages due to prior misappropriation could prove difficult.

  • Bragdon v. Bayshore Prop. Owners Ass'n, Inc.

    Publication Date: 2021-03-24
    Practice Area: Fee Disputes
    Industry: Real Estate
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Dean A. Campbell, Law Office of Dean A. Campbell, P.A., Georgetown, DE for plaintiff.
    for defendant: Stephen A. Spence, Baird Mandalas Brockstedt, LLC, Lewes, DE for defendant.

    Case Number: D69334

    Condominium unit owner's legal fees shifted to condominium association pursuant to Delaware Uniform Common Interest Ownership Act where association acted unreasonably by failing to give owner notice of violation before levying fines and expenses and employing violation and appeal policies against the owner that it had not imposed against other similarly-situated owners.

  • In re Columbia Pipeline Group, Inc. Merger Litig.

    Publication Date: 2021-03-17
    Practice Area: Mergers and Acquisitions
    Industry: Energy
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Ned Weinberger, Derrick Farrell, Labaton Sucharow LLP, Wilmington, DE; Gregory V. Varallo, Bernstein Litowitz Berger & Grossmann LLP, Wilmington, DE; Jeroen van Kwawegen, Christopher J. Orrico and Alla Zayenchik, Bernstein Litowitz Berger & Grossmann LLP, New York, NY; Stephen E. Jenkins, Marie M. Degnan, Ashby & Geddes, P.A., Wilmington, DE for plaintiffs.
    for defendant: Martin S. Lessner, James M. Yoch, Jr., Paul J. Loughman, Kevin P. Rickert, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; Brian J. Massengill, Matthew C. Sostrin, Linda X. Shi, Mayer Brown LLP, Chi-cago, IL for defendants.

    Case Number: D69329

    Neither collateral estoppel nor the doctrine of stare decisis precluded plaintiffs' claims.

  • DG BF, LLC v. Ray

    Publication Date: 2021-03-17
    Practice Area: Corporate Governance
    Industry: Consumer Products | Food and Beverage | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Zurn
    Attorneys: For plaintiff: Sean J. Bellew, Bellew LLP, Wilmington, DE; Gerard P. Fox, Marina V. Bogorad, Gerard Fox Law P.C., Los Angeles, CA for plaintiffs.
    for defendant: Sean A. Meluney, Matthew D. Beebe, Benesch, Friedlander, Coplan & Aronoff LLP, Wilmington, DE; David B. Anthony, Berger Harris LLP, Wilmington, DE; Perry J. Woodward, Hopkins & Carley, A Law Corporation, San Jose, CA for defendants.

    Case Number: D69328

    Plaintiffs could proceed with breach of contract and implied covenant of good faith and fair dealing claims after alleging company and its officers breached express obligations under operating agreement and failed to act in good faith in selection of independent managers.

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  • Jacob v. Bloom Energy Corp.

    Publication Date: 2021-03-10
    Practice Area: Corporate Entities
    Industry: Energy | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Blake A. Bennett, Cooch and Taylor, P.A., Wilmington, DE; Sam Bonderoff, James Ostaszewski, Matthew Hendrickson, Zamansky LLC, New York, NY for plaintiffs.
    for defendant: Kevin G. Abrams, John M. Seaman, Eliezer Y. Feinstein, Abrams & Bayliss LLP, Wilmington, DE for defendant.

    Case Number: D69321

    Stockholder established a proper purpose for the inspection of corporate books and records, but the court limited the scope of some of the requests.

  • Dieckman v. Regency GP LP

    Publication Date: 2021-03-10
    Practice Area: Mergers and Acquisitions
    Industry: Energy
    Court: Court of Chancery
    Judge: Chancellor Bouchard
    Attorneys: For plaintiff: Christine M. Mackintosh, Vivek Upadhya, Michael D. Bell, Grant & Eisenhofer P.A., Wilmington, DE; Gregory V. Varallo, Bernstein Litowitz Berger & Grossman LLP, Wilmington, DE; Jeroen van Kwawegen, Edward G. Timlin, Bernstein Litowitz Berger & Grossmann LLP, New York, NY for plaintiff.
    for defendant: Rolin P. Bissell, Tammy L. Mercer, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; Michael C. Holmes, John C. Wander, Craig E. Zieminski, Vinson & Elkins LLP, Dallas, TX for defendants.

    Case Number: D69320

    Although board member was placed on conflicts committee prior to merger when the member did not meet qualifications under the company's partnership agreement, the evidence was insufficient to find that the merger was unfair or unreasonable to the company or its limited partners, and the lack of evidence of bad faith or willful misconduct also triggered application of an exculpation from money damages.

  • Schillinger Genetics, Inc. v. Benson Hill Seeds, Inc.

    Publication Date: 2021-03-03
    Practice Area: Contractual Disputes
    Industry: Agriculture
    Court: Court of Chancery
    Judge: Vice Chancellor Zurn
    Attorneys: For plaintiff: Michael P. Kelly, Andrew S. Dupre, Sarah E. Delia, McCarter & English, LLP, Wilmington, DE for plaintiffs.
    for defendant: Travis S. Hunter, Dorronda R. Bordley, Richards, Layton & Finger, P.A., Wilmington, DE; Kenneth J. Mallin, Jason S. Meyer, Sasha D. Riedisser of Bryan Cave Leighton Paisner, LLP, St. Louis, MO for defendant.

    Case Number: D69316

    Buyer was not entitled to escrow funds relating to a post-closing price adjustment because it did not give timely notice, but notice of its indemnity claim was adequate.

  • Lacey v. Mota-Velasco

    Publication Date: 2021-02-24
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Mining and Resources
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Peter B. Andrew, Craig J. Springer, David Sborz, Andrews & Springer LLC, Wilmington, DE; Jeremy S. Friedman, Spencer Oster, David F.E. Tejtel, Friedman Oster & Tejtel PLLC, Bedford Hills, NY for plaintiff.
    for defendant: William M. Lafferty, John P. DiTomo, Elizabeth A. Mullin, Morris, Nichols, Arsht & Tunnell LLP, Wilming-ton, DE; Bradley J. Benoit, Bryan Dumesnil, Bracewell LLP, Houston, TX; Srinivas M. Raju, Andrew J. Peach, Matthew W. Murphy, Richards, Layton & Finger, P.A., Wilmington, DE; Steven R. Selsberg, S. Sels-berg Law, PLLC, Houston, TX; Sylvia A. Mayer, S. Mayer Law PLLC, Houston, TX; Peter J. Walsh, Jr., Mat-thew F. Davis, Elizabeth M. Taylor, Potter Anderson & Corroon LLP, Wilmington, DE; Robert J. Giuffra, Jr., David M.J. Rein, Matthew A. Peller, Y. Carson Zhou, Sullivan & Cromwell LLP, New York, NY for defend-ants.

    Case Number: D69305

    The court granted defendant directors' motion to dismiss a breach of contract claim because plaintiff's claim was essentially one for breach of fiduciary duty.

  • Firefighters' Pension Sys. of the City of Kansas City, Missouri Trust v. Presidio, Inc.

    Publication Date: 2021-02-24
    Practice Area: Mergers and Acquisitions
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Michael Hanrahan, Samuel L. Closic, Stephen D. Dargitz, Jason W. Rigby, Prickett, Jones & Elliott, P.A., Wilmington, DE; Lee D. Rudy, J. Daniel Albert, Stacey A. Greenspan, Kessler Topaz Meltzer & Check, LLP, Radnor, PA for plaintiff.
    for defendant: Kevin R. Shannon, Berton W. Ashman, Jr., Daniel M. Rusk, IV, Potter Anderson & Corroon LLP, Wilmington, DE; Ryan A. McLeod, Alexandra P. Sadinsky, Wilfred T. Beaye, Jr., Wachtell, Lipton, Rosen & Katz, New York, NY; William M. Lafferty, John P. DiTomo, Alexandra M. Cumings, Sara Toscano, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Scott B. Luftglass, Rebecca L. Martin, Anne S. Aufhauser, Fried, Frank, Harris, Shriver & Jacobson LLP, New York, NY; Raymond J. DiCamillo, Kevin M. Gallagher, Megan E. O’Connor, Richards, Layton & Finger, P.A, Wilmington, DE; John L. Hardiman, Sullivan & Cromwell LLP, New York, NY; A. Thompson Bayliss, E. Wade Houston, Abrams & Bayliss LLP, Wilmington, DE; Matthew Solum, Courtney A. Carvill, Kirkland & Ellis LLP, New York, NY for defendants.

    Case Number: D69302

    CEO held personal interest in proposed acquisition transaction that he was not entitled to exculpation for, and company's financial advisor and winning bidder aided and abetted breaches of fiduciary duties by exchanging information regarding the company's bidding process.