• In re SwervePay Acquisition, LLC

    Publication Date: 2022-09-13
    Practice Area: Mergers and Acquisitions
    Industry: Financial Services and Banking | Investments and Investment Advisory | Software
    Court: Court of Chancery
    Judge: Chancellor McCormick
    Attorneys: For plaintiff: Peter J. Walsh, Jr., Nicholas D. Mozal, Potter Anderson & Corroon LLP, Wilmington, DE; Orion Armon, Cooley LLP, Denver, CO; Luke Cadigan, Cooley LLP, Boston, MA; Alexandra Leeper, Cooley LLP, Palo Alto, CA; Katelyn Kang, Cooley LLP, New York, NY; Bradley Levison, Carrie A. Herschman, Herschman Levison Hobfall PLLC, Chicago, IL for plaintiffs.
    for defendant: A. Thompson Bayliss, Stephen C. Childs, Abrams & Bayliss LLP, Wilmington, DE; David B. Hennes, Adam M. Harris, Alexander B. Simkin, Ropes & Gray LLP, New York, NY; Sarah M. Samaha, Ropes & Gray LLP, Washington, DC for defendants.

    Case Number: 2021-0447-KSJM

    Fraud claim arising from acquisition was not dismissed where sellers plausibly alleged that buyers overinflated the amount of monetizable revenue in the buyers' pipeline, which induced sellers into the transaction on the understanding they could hit contractual milestones for earnout payments.

  • Freeman v. Qualizza

    Publication Date: 2022-08-30
    Practice Area: Corporate Governance
    Industry: Financial Services and Banking
    Court: Court of Chancery
    Judge: Vice Chancellor Fioravanti
    Attorneys: For plaintiff: James D. Taylor, Jr., Aubrey J. Morin, Saul Ewing Arnstein & Lehr LLP, Wilmington, DE; Gregory J. Scandaglia, William J. Ryan, Joseph R. Swee, Scandaglia Ryan LLP, Chicago, IL for plaintiff.
    for defendant: Douglas D. Herrmann, Emily L. Wheatley, Troutman Pepper Hamilton Sanders LLP, Wilmington, DE; Mark H. Horwitch, Daniel L. Stanner, Tabet Divito & Rothstein LLC, Chicago, IL for defendant.

    Case Number: D69934

    LLC manager could execute written consent directing the removal and replacement of manager of another LLC, where the first LLC's sole asset was ownership of the other LLC and thus the first LLC manager validly acted unilaterally in the management of daily operations.

  • Glen v. Trip Advisor LLC

    Publication Date: 2022-08-30
    Practice Area: Civil Appeals
    Industry: Financial Services and Banking | Entertainment and Leisure | Real Estate
    Court: U.S. Court of Appeals for the Third Circuit
    Judge: Judge Krause
    Attorneys: For plaintiff:
    for defendant:

    Case Number: D69941

    Court dismissed appellant's claim under the Helms-Burton Act arguing that he was the beneficiary of property seized during the Castro Regime.

  • Tolliver v. Thompson

    Publication Date: 2022-08-23
    Practice Area: Creditors' and Debtors' Rights
    Industry: Financial Services and Banking
    Court: U.S. District Court of Delaware
    Judge: District Judge Andrews
    Attorneys: For plaintiff: M. Denise Tolliver, Camden, DE, pro se plaintiff.
    for defendant: John E. Tarburton, Orlans PC, Wilmington, DE; Christina J. Pross, Marinosci Law Group, Wilmington, DE for defendants.

    Case Number: D69929

    Fair Debt Collection Practices Act and Fair Credit Reporting Act claims arising from inaccurate reporting of loan account status failed as a matter of law where the alleged inaccurate reporting was not made to collect a debt and plaintiff never filed a notice of dispute against the information.

  • Gary v. Deluxe Corp.

    Publication Date: 2022-08-09
    Practice Area: Labor Law
    Industry: Financial Services and Banking
    Court: U.S. District Court of Delaware
    Judge: District Judge Andrews
    Attorneys: For plaintiff: Constance Gary, New Castle, DE, pro se plaintiff.
    for defendant: Alessandra Glorioso, Jillian Kornblatt, Trevor Brown, Dorsey & Whitney (Delaware) LLP for defendant.

    Case Number: D69917

    Employee's defamation claim allowed to proceed where employee alleged that rumors were being spread around the workplace by one or more co-workers, which was sufficient allegation to state a claim of vicarious liability against the employer.

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  • Miller v. Del-One Fed. Credit Union

    Publication Date: 2022-08-09
    Practice Area: Banking and Finance Laws
    Industry: Financial Services and Banking
    Court: U.S. District Court of Delaware
    Judge: District Judge Bibas
    Attorneys: For plaintiff: David W. deBruin, Napoli Shkolnik LLC, Wilmington, DE; Elaine S. Kusel, Sherief Morsy, McCune Wright Arevalo, LLP, Newark, NJ for plaintiff.
    for defendant: Loren R. Barron, Margolis Edelstein, Wilmington, DE for defendants.

    Case Number: D69913

    Bank violated federal regulations governing overdraft policy notices where bank used template language in the regulation, which may not accurately describe bank's specific overdraft policy.

  • CPC Mikawaya Holdings, LLC v. MyMo Intermediate, Inc.

    Publication Date: 2022-07-12
    Practice Area: Mergers and Acquisitions
    Industry: Financial Services and Banking | Food and Beverage
    Court: Court of Chancery
    Judge: Vice Chancellor Zurn
    Attorneys: For plaintiff: Kevin R. Shannon, Christopher N. Kelly, Emma K. Diver, Potter Anderson & Corroon LLP, Wilmington, DE; John E. Schreiber, Aaron C. O’Dell, Winston & Strawn LLP, Los Angeles, CA for plaintiff.
    for defendant: A. Thompson Bayliss, April M. Kirby, Abrams & Bayliss LLP, Wilmington, DE; Timothy R. Farrell, Ropes & Gray LLP, Chicago, IL; Patrick S. Doherty, Ropes & Gray LLP, London, UK; Sarah M. Milkovich, Ropes & Gray LLP, Boston, MA for defendants.

    Case Number: D69878

    Seller sufficiently alleged breach of written and oral contracts where merger agreement required buyer to complete pre-closing tax returns according to past practices and buyer instead used novel practices, but the change in practices was authorized by the parties' oral agreement in which the seller agreed to the change in exchange for receipt of the tax return proceeds.

  • PVP Aston, LLC v. Fin. Structures Ltd.

    Publication Date: 2022-06-28
    Practice Area: Creditors' and Debtors' Rights
    Industry: Financial Services and Banking | Insurance | Real Estate
    Court: Delaware Superior Court
    Judge: Judge LeGrow
    Attorneys: For plaintiff: Christopher P. Simon, Michael L. Vild, Cross & Simon, LLC, Wilmington, DE for plaintiffs.
    for defendant: Michael W. Teichman, Kashif I. Chowdhry, Kyle F. Dunkle, Parkowski, Guerke & Swayze, P.A., Wilmington, DE; Jeffrey D. Brooks, Tanisha L. Massie, Morrison Cohen LLP, New York, NY for defendants.

    Case Number: D69867

    Court declined to apply jury waivers in related loan documents to obligors' claims against their mortgage insurer, where the waiver clauses did not unambiguously include claims arising from outside the loan transaction within their scope.

  • Council of the Vill. of Fountianview Condo. v. Corrozi-Fountain View LLC

    Publication Date: 2022-06-28
    Practice Area: Contracts
    Industry: Financial Services and Banking | Construction | Real Estate
    Court: Delaware Superior Court
    Judge: Judge Carpenter
    Attorneys: For plaintiff: Blake A. Bennett, C. Scott Reese, Dean R. Roland, Cooch and Taylor, P.A., Wilmington, DE for plaintiff.
    for defendant: David L. Baumberger, Law Offices of Chrissinger & Baumberger, Wilmington, DE; Kevin J. Connors, Marshall Dennehey Warner Coleman & Goggin, Wilmington, DE; Louis J. Rizzo, Jr., Reger Rizzo & Darnall LLP, Wilmington, DE; Josiah R. Wolcott, Connolly Gallagher, Newark, DE; Thaddeus J. Weaver, Dilworth Paxson LLP, Wilmington, DE for defendants.

    Case Number: D69862

    Defective construction claims by condominium association were timely filed where receiver who previously controlled condo was appointed solely to complete construction and limit the losses of the mortgagee, such that the limitations period did not start running until the association of ow ners took control.

  • In re: Main St. Bus. Funding, LLC

    Publication Date: 2022-06-21
    Practice Area: Bankruptcy
    Industry: Financial Services and Banking
    Court: U.S. Bankruptcy Court
    Judge: Judge Shannon
    Attorneys: For plaintiff: John P. Lane, Jr., Berwyn, PA, pro se plaintiff.
    for defendant: Ricardo Palacio, Ashby & Geddes, P.A., Wilmington, DE, attorney for trustee.

    Case Number: D69861

    Perfected security interest did not cover proceeds from commercial tort litigation where the proceeds were acquired after the security interest was established and where the interest only included a general claim to the intangible property of the debtor.