• Bamford v. Penfold, L.P.

    Publication Date: 2020-03-18
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: David J. Margules, Elizabeth A. Sloan, and Brittany M. Giusini, Ballard Spahr LLP, Wilmington, DE; Wallace G. Hilke, Mark S. Enslin, Ballard Spahr LLP, Minneapolis, MN; Jeffrey S. Cianciulli, Weir & Partners, Wilmington, DE; Peter N. Kessler, Kutak Rock LLP, Philadelphia, PA for plaintiffs.
    for defendant: John G. Day, Prickett, Jones & Elliott, P.A., Wilmington, DE; Marc R. Rosen, Joshua K. Bromberg, Kleinberg, Kaplan, Wolff & Cohen, P.C., New York, NY; William B. Chandler III, Bradley D. Sorrels, Shannon E. German, Daniyal M. Iqbal, Wilson Sonsini Goodrich & Rosati, P.C., Wilmington, DE, attorneys for defendants.

    Case Number: D68910

    Derivative fraud and unjust enrichment claims dismissed as duplicative of plaintiffs' direct claims for breach of fiduciary duties and conversion.

  • Deputy v. Deputy

    Publication Date: 2020-03-18
    Practice Area: Trusts and Estates
    Industry:
    Court: Court of Chancery
    Judge: Vice Chancellor Zurn
    Attorneys: For plaintiff: Sharon Oras Morgan, Beth B. Miller and E. Chaney Hall, Fox Rothschild LLP, Wilmington, DE for petitioner.
    for defendant: Christopher M. Coggins of Coggins Law LLC, Wilmington, DE for respondent.

    Case Number: D68913

    Trustee breached his fiduciary duties and acted to enrich himself at the expense of the other beneficiary. The court removed the trustee, ordered an accounting, and required the trustee to pay attorney fees.

  • In re: AmTrust Fin. Serv., Inc. Stockholder Litig.

    Publication Date: 2020-03-11
    Practice Area: Mergers and Acquisitions
    Industry: Insurance | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Chancellor Bouchard
    Attorneys: For plaintiff: Ned Weinberger, Thomas Curry and Mark D. Richardson, Labaton Sucharow LLP, Wilmington, DE; Jay W. Eisenhofer, Mi-chael J. Barry and Kyle J. McGee, Grand & Eisenhofer P.A., Wilmington, DE; Marcus E. Montejo, Stephen D. Dargitz and John G. Day, Prickett, Jones & Elliott, P.A., Wilmington, DE; Carl L. Stine, Adam J. Blander and Antoinette Adesanya, Wolf Popper LLP, New York, NY; Jeremy Friedman, Spencer Oster and David Tejtel, Friedman Oster & Tejtel, PLLC, New York, NY; Eric L. Zagar, Robin Winchester, Michael C. Wagner and Christopher M. Windover, Kessler Topaz Meltzer & Check, LLP, Radnor, PA; David Wales and Edward Timlin, Bernstein Litowitz Berger & Grossmann LLP, New York, NY; Joseph E. White, III, Adam D. Warden, Steven B. Singer and Joshua Saltzman, Saxena White P.A., Boca Raton, FL and White Plains, NY for plaintiffs.
    for defendant: Edward B. Micheletti and Bonnie W. David, Skadden, Arps, Slate, Meagher & Flow LLP, Wilmington, DE for Stone Point, Trident and Parallel Fund defendants. Gregory P. Williams, Blake Rohrbacher, Daniel E. Kaprow and Ryan D. Konstanzer, Richards, Layton & Finger, P.A., Wilmington, DE; Tariq Mundiya and Sameer Advani, Willkie Farr & Gallagher LLP, New York, NY for defendants DeCarlo, Fisch, Gulkowitz and Rivera. Daniel A. Mason, Andrew G. Gordon and William A. Clareman, Paul, Weiss, Rifkind, Wharton & Garrison LLP, Wilmington, DE and New York, NY for Zyskind, Karfunkel and Ev-ergreen defendants.

    Case Number: D68906

    Plaintiffs alleged sufficient facts to support a reasonable inference that certain defendants participated in a breach of fiduciary duty, so the entire fairness standard applied. The court dismissed the remainder of plaintiffs' claims.

  • Neurvana Med., LLC v. Balt USA, LLC

    Publication Date: 2020-03-11
    Practice Area: Corporate Governance
    Industry: Health Care
    Court: Court of Chancery
    Judge: Vice Chancellor McCormick
    Attorneys: For plaintiff: Jason A. Cincilla, Amaryah K. Bocchino, Ryan W. Browning and Tye C. Bell, Manning Gross + Massenburg LLP, Wilmington, DE; John M. Pierce, Michael M. Pomerantz, Elizabeth C. DeGori and Matthew J. Kokot, Pierce Bainbridge Beck Price & Hecht LLP, New York, NY for plaintiff.
    for defendant: Lori W. Will, Phillip R. Sumpter, Daniyal M. Iqbal, Jeremy W. Gagas, Dylan J. Liddiard, Charles A. Talpas and Brian J. Levy, Wilson Sonsini Goodrich & Rosati, P.C., Wilmington, DE, Palo Alto, CA and New York, NY for defendants.

    Case Number: D68907

    The court denied a motion to dismiss regarding a director's pre-resignation conduct, but it dismissed the remainder of plain-tiff's contract and tort claims.

  • Great Hill Equity Partners IV, LP v. SIG Growth Equity Management, LLC

    Publication Date: 2020-03-11
    Practice Area: Deals and Transactions
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Rudolf Koch, Robert L. Burns and Megan E. O’Connorm, Richards, Layton & Finger, P.A., Wilmington, DE; Adam Slutsky, Goodwin Procter LLP, Boston, MA for plaintiffs.
    for defendant: William B. Chandler III, Ian R. Liston and Jessica A. Hartwell, Wilson Sonsini Goodrich & Rosati, P.C., Wilmington, DE; Mark A. Kirsch, Scott A. Edelman, Aric H. Wu, Laura K. O’Boyle and Peter Wade, Gibson, Dunn & Crutcher LLP, New York, NY for SIG defendants. Lewis H. Lazarus, Marris James LLP, Wilmington, DE; Peter N. Flocos and Joanna A. Diakos, K&L Gates LLP, New York, NY for defendants Herzog and Kleinberg. David S. Eagle, Sean M. Brennecke, Michael K. Coran, William T. Hill, Monica Clarke Platt and Gregory R. Sellers, Klehr Harrison Harvey Branzburg LLP, Wilmington, DE and Philadelphia, PA for defendants Tal and Itshayek.

    Case Number: D68905

    Although plaintiff prevailed on certain claims with respect to the question of liability, the court awarded no damages. Plain-tiff's evidence for damages was speculative and impossible to allocate.

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  • Davidow v. LRN Corp.

    Publication Date: 2020-03-11
    Practice Area: Deals and Transactions
    Industry: Consulting
    Court: Court of Chancery
    Judge: Vice Chancellor Zurn
    Attorneys: For plaintiff: Stephen D. Dargitz, Kevin H. Davenport, and Jason W. Rigby, Prickett, Jones & Elliott, P.A., Wilmington, DE for plaintiff.
    for defendant: Kevin G. Abrams, J. Peter Shindel, and April M. Kirby, Abrams & Bayliss LLP, Wilmington, DE; James E. Brandt and Blair Connelly, Latham & Watkins, LLP, New York, NY for defendants.

    Case Number: D68903

    Complaint challenging self-tender offer not denied where subject to entire fairness review because inadequate disclosures and structure of offer rendered it coercive and where directors obtained personal benefits from the self-tender.

  • Salladay v. Lev

    Publication Date: 2020-03-11
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Software
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Peter B. Andrews, Craig J. Springer and David M. Sborz, Andrews and Springer LLC, Wilmington, DE; Jeremy S. Friedman and David F.E. Tejtel, Friedman Oster & Tejtel PLLC, Bedford Hills, NY for plaintiff.
    for defendant: D. McKinley Measley ad Elliott Covert, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Charles C. Platt and Andrew Sokol, Wilmer Cutler Pickering Hale and Dorr LLP, New York, NY for defendants.

    Case Number: D68908

    The court denied defendant directors' motion to dismiss, because plaintiff adequately alleged that the board was conflicted and the merger transaction was not cleansed by either a fully-informed shareholder vote or by the actions of a special committee.

  • Claros Diagnostics, Inc. S'holders Representative Comm. v. OPKO Health, Inc.

    Publication Date: 2020-03-04
    Practice Area: Mergers and Acquisitions
    Industry: Health Care | Manufacturing
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Joanna J. Cline, Christopher B. Chuff, and Ellis E. Harrington, Pepper Hamilton LLP, Wilmington, DE; William W. Taylor and Jaclyn M. Essinger, Pepper Hamilton LLP, Boston, MA for plaintiff.
    for defendant: David J. Teklits and Alexandra M. Cummings, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Kenneth A. Sweder and Brian M. Haney, Sweeder & Ross LLP, Boston, MA for defendant.

    Case Number: D68894

    Stale breach of representation and warranty claims could not be asserted as an equitable affirmative defense for recoupment where the underlying facts were too attenuated from the plaintiff's claims.

  • O'Gara v. Coleman

    Publication Date: 2020-03-04
    Practice Area: Business Torts
    Industry: Food and Beverage
    Court: Court of Chancery
    Judge: Vice Chancellor McCormick
    Attorneys: For plaintiff: Stephen C. Norman, Christopher N. Kelly and Tyler J. Leavengood, Potter Anderson & Corroon LLP, Wilmington, DE; James Clough, William L. Prickett and Andrew T. Stark, Seyfarth Shaw LLP, Los Angeles, CA and Boston, MA for plaintiffs.
    for defendant: Kelly E. Farnan, Susan M. Hannigan and Anthony M. Calvano, Richards, Layton & Finger, P.A., Wilmington, DE; Bradley Chapin, Rutan & Tucker LLP, Costa Mesa, CA for defendants.

    Case Number: D68899

    The court granted defendants' motion to dismiss, because plaintiff failed to adequately allege their claims for breach of fiduciary duty, conspiracy, tortious interference with contract and business relations, and libel.

  • Voigt v. Metcalf

    Publication Date: 2020-02-26
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Manufacturing
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Peter B. Andrews, Craig J. Springer and David M. Sborz, Andrews & Springer LLC, Wilmington, DE; Jeremy S. Friedman and David F.E. Tejtel, Friedman Oster & Tejtel PLLC, Bedford Hills, NY; D. Seamus Kaskela, Kaskela Law LLC, Newtown Square, PA for plaintiff.
    for defendant: Gregory P. Williams and Brock E. Czeschin, Richards, Layton & Finger, P.A., Wilmington, DE; Rachelle Silverberg, Caitlin A. Donovan and Drew C. Harris, Wachtell, Lipton, Rosen & Katz, New York, NY for defendants Metcalf, Riley, Affeldt, Kremer, Martinez, Ball, Forbes, Holland and nominal defendant NCI Building Systems. David J. Teklits and Thomas P. Will, Morris, Nichols, Arsht & Tunnell, LLP, Wilmington, DE; Shannon Rose Selden, Susan R. Gittes and Zachary H. Saltzman, Debevoise & Plimpton LLP, New York, NY for defendants Sleeper, VanArsdale, Zrebiec, Berges and Clayton, Dubilier & Rice.

    Case Number: D68892

    Plaintiff alleged sufficient facts that one of the defendants was a controlling shareholder. The court dismissed several individual defendants based on an exculpation clause, but it declined to dismiss claims as to other individual defendants.