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Publication Date: 2024-07-23
Practice Area: Corporate Entities
Industry: Legal Services | Real Estate
Court: Court of Chancery
Judge: Vice Chancellor Will
Attorneys: For plaintiff: Frank E. Noyes, Offit Kurman, P.A., Wilmington, Delaware for plaintiff;
for defendant: David Konick, pro se defendant.
Case Number: 2022-1036-LWW
Court ordered judicial dissolution of LLC formed to hold vacation property after the end of the parties' romantic relationship rendered carrying on the LLC's "business" impractical.
Publication Date: 2024-07-23
Practice Area: Corporate Governance
Industry: Investments and Investment Advisory | Mining and Resources
Court: Court of Chancery
Judge: Vice Chancellor Will
Attorneys: For plaintiff: Theodore A. Kittila, William E. Green, Jr., Halloran Farkas + Kittila LLP, Wilmington, DE; Brian Tuttle, pro se plaintiff;
for defendant: Jordan Darga, pro se plaintiff for plaintiffs. Stephen C. Norman, Jaclyn C. Levy, Potter Anderson & Corroon LLP, Wilmington, DE for defendants.
Case Number: 2022-0957-LWW
Court found plaintiffs to be inadequate class representatives because they either simultaneously pursued individual claims that created a conflict of interest or because they were pro se litigants unqualified to represent a class.
Publication Date: 2024-07-16
Practice Area: Mergers and Acquisitions
Industry: Biotechnology | Pharmaceuticals
Court: Court of Chancery
Judge: Vice Chancellor Fioravanti
Attorneys: For plaintiff: Kimberly A. Evans, Lindsay K. Faccenda, Irene R. Lax, Robert Erikson, Block & Leviton LLP, Wilmington, DE; Christopher H. Lyons, Tayler D. Bolton, Robbins Geller Rudman & Dowd LLP, Wilmington, DE; Randall J. Baron, David A. Knotts, Teo A. Doremus, Robbins Geller Rudman & Dowd LLP, San Diego, CA; Brett M. Middleton, Johnson Fistel, LLP, San Diego, CA for plaintiff.
for defendant: Kevin M. Gallagher, Nicole M. Henry, Richards, Layton & Finger, P.A., Wilmington, DE; John F. Sylvia, Kerime S. Akoglu, Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, P.C., Boston, MA; Daniel M. Silver, Benjamin A. Smyth, Sarah E. Delia, Alexandra M. Joyce, McCarter & English, LLP, Wilmington, DE; Meredith Kotler, Mary Eaton, Nicholas A. Caselli, Freshfields Bruckhaus Deringer US LLP, New York, NY for defendants.
Case Number: 2023-0125-PAF
Fiduciary claims against purported controlling stockholder dismissed where plaintiff failed to plead facts demonstrating that stockholder qualified as a controller of the company or exercised transaction-specific control during proposed sale of company via tender offer.
Publication Date: 2024-07-16
Practice Area: Corporate Governance
Industry: Insurance | Investments and Investment Advisory
Court: Court of Chancery
Judge: Chancellor McCormick
Attorneys: For plaintiff: R. Bruce McNew, Cooch and Taylor, P.A., Wilmington, DE for plaintiff.
for defendant: Lisa M. Zwally, Bryan T. Reed, Greenberg Traurig, LLP, Wilmington, DE for defendants.
Case Number: 2020-0985-KSJM
Fiduciary claims allowed to proceed where majority of board's dual fiduciary role with parent and subsidiaries created a conflict of interest preventing consideration of litigation demand, and where plaintiff lacked inquiry notice until parent made public disclosures.
Publication Date: 2024-07-16
Practice Area: Mergers and Acquisitions
Industry: Construction | Investments and Investment Advisory
Court: Court of Chancery
Judge: Vice Chancellor Glasscock
Attorneys: For plaintiff: Martin S. Lessner, Tammy L. Mercer, Lauren Dunkle Fortunato, Andrew J. Cazerkawski, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; Johnathan D. Schiller, Thomas H. Sosnowski, Boies Schiller Flexner LLP, New York, NY for plaintiffs.
for defendant: Michael A. Barlow, Hayden J. Driscoll, Quinn Emanuel Urquhart & Sullivan, LLP, Wilmington, DE; Michael B. Carlinsky, Charles H. Sangree, Caitlin E. Jokubaitis, Quinn Emanuel Urquhart & Sullivan, LLP, New York, NY; Christopher D. Porter, Quinn Emanuel Urquhart & Sullivan, LLP, Houston, TX for defendants.
Case Number: 2024-0274-SG
Court declined to enjoin contractual alternative dispute resolution process where parties agreed to submit validity of post-closing cap-ex budget to independent consultant for expert review, where consultant was empowered to conduct independent analysis of company's financial records.
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Publication Date: 2024-07-16
Practice Area: Corporate Governance
Industry: Biotechnology | Chemicals and Materials | Software
Court: Court of Chancery
Judge: Vice Chancellor Cook
Attorneys: For plaintiff: Tiffany Geyer Lydon, Philip Trainer, Jr., Ashby & Geddes, P.A. Wilmington, DE; Lisa C. Solbakken, Arkin Solbakken LLP, New York, NY for plaintiff.
for defendant: Steven L. Becton, II, David J. Margules, Jessica C. Watt, Ballard Spahr LLP, Wilmington, DE for defendant.
Case Number: 2022-0876-NAC
Under the right-of-control test, plaintiff qualified as employee of defendant's subsidiary rather than defendant where subsidiary controlled plaintiff's compensation, determined the terms and conditions of his employment, and supervised his work.
Publication Date: 2024-07-09
Practice Area: Mergers and Acquisitions
Industry: Investments and Investment Advisory | Software
Court: Court of Chancery
Judge: Vice Chancellor Cook
Attorneys: For plaintiff: Gregory V. Varallo, Andrew E. Blumberg, Daniel E. Meyer, Bernstein Litowitz Berger & Grossman LLP, Wilmington, DE; Ned Weinberger, Mark Richardson, Labaton Keller Sucharow LLP, Wilmington, DE; David Schwartz, John Vielandi, Labaton Keller Sucharow, New York, NY; Aaron T. Morris, Leonid Kandinov, Andrew W. Robertson, Morris Kandinov LLP, New York, NY for plaintiffs.
for defendant: Edward B. Micheletti, Sarah R. Martin, Ryan M. Lindsay, Lauren M. Griffith, Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington, DE for defendants.
Case Number: 2022-1073-NAC
Court dismissed former stockholder's fiduciary duty claim arising from breach of merger agreement leading to reduced merger consideration where the reduced price still provided a premium over the stock price and the stockholders approved the merger in an informed vote.
Publication Date: 2024-07-02
Practice Area: Damages
Industry: Investments and Investment Advisory | Software
Court: Court of Chancery
Judge: Vice Chancellor Will
Attorneys: For plaintiff: David H. Holloway, Shlansky Law Group, LLP, Wilmington, DE; Christine M. Mackintosh, Esquire Grant & Eisenhofer P.A. Wilmington, DE for plaintiff.
for defendant: Jody C. Barillare, Amy M. Dudash, Wilmington, DE for defendant.
Case Number: 2017-0346-LWW
Court declined to award pre-judgment/pre-trial interest on rescissory damages as judgment creditor was not deprived of its funds and defendant was being ordered to disgorge the benefits he accrued by usurping creditor's corporate opportunities.
Publication Date: 2024-07-02
Practice Area: Corporate Governance
Industry: Legal Services | Technology Media and Telecom
Court: Court of Chancery
Judge: Chancellor McCormick
Attorneys: For plaintiff: Jeremy D. Eicher, Eicher Law LLC, Wilmington, DE; Frank E. Noyes, II, Offit Kurman, P.A., Wilmington, DE for petitioner.
for defendant: Douglas D. Herrmann, Troutman Pepper Hamilton Sanders LLP, Wilmington, DE; Jennifer C. Voss, Skadden, Arps, Slate, Meagher & Flom LLP Wilmington, DE for respondent.
Case Number: 9700-CM, 10449-CM
Court overruled corporation's objections to custodian's legal fee petitions where court had already ruled on custodian's entitlement to fees and found no basis to support corporations' challenges to the reasonableness of the fees.
Publication Date: 2024-07-02
Practice Area: Business Torts
Industry: Health Care
Court: Court of Chancery
Judge: Vice Chancellor Cook
Attorneys: For plaintiff: Michael T. Manuel, John M. Seaman, Abrams & Bayliss LLP, Wilmington, DE for plaintiffs.
for defendant: Margaret F. England, Michael Van Gorder, Gellert Seitz Busenkell & Brown LLC, Wilmington, DE for defendant.
Case Number: 2023-1062-NAC
Court declined to dismiss fiduciary claims where defendant availed himself of Delaware law by becoming a manager of a Delaware LLC pursuant to an LLC agreement that expressly imposed fiduciary duties on defendant.
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