• Goldstein v. Denner

    Publication Date: 2024-02-05
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Kevin H. Davenport, John G. Day, Jason W. Rigby, Prickett, Jones & Elliot P.A., Wilmington, DE; R. Bruce McNew, Cooch & Taylor P.A., Wilmington, DE; Christopher H. Lyons, Robbins Geller Rudman & Dowd LLP, Wilmington; DE; Randall J. Baron, Rick T. Atwood, Robbins Geller Rudman & Dowd LLP, San Diego, CA; Brett Middleton, Johnson Fistel, LLP, New York, NY for plaintiff.
    for defendant: Stephen E. Jenkins, Richard D. Heins, Ashby & Geddes, P.A., Wilmington, DE; Tariq Mundiya, Sameer Advani, Richard Li, M. Annie Houghton-Larsen, Willkie Farr & Gallagher LLP, New York, NY for defendants.

    Case Number: 2020-1061-JTL

    Court imposed sanctions in the form of a factual presumption on a key issue, which defendants could only rebut with clear and convincing evidence, after defendants admittedly took no action to preserve electronically stored information in response to litigation hold notices.

  • Icahn Partners LP v. deSouza

    Publication Date: 2024-01-29
    Practice Area: Mergers and Acquisitions
    Industry: Biotechnology | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Fioravanti
    Attorneys: For plaintiff: C. Barr Flinn, M. Paige Valeski, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; Peter J. Walsh, Jr., Michael A. Pittenger, Justin T. Hymes, Potter Anderson & Corroon LLP, Wilmington, DE for plaintiffs.
    for defendant: A. Thompson Bayliss, Eric A. Veres, Michael T. Manuel, Abrams & Bayliss LLP, Wilmington, DE for defendants.

    Case Number: 2023-1045-PAF

    Court struck pleadings based on confidential corporate information where information was supplied by director nominated by stockholder although the stockholder did not have a contractual right to designate the director and the director did not serve as the stockholder's fiduciary on the board.

  • In re: AMC Investors, LLC

    Publication Date: 2024-01-29
    Practice Area: Bankruptcy
    Industry: Electronics | Investments and Investment Advisory | Technology Media and Telecom
    Court: U.S. District Court of Delaware
    Judge: District Judge Andrews
    Attorneys: For plaintiff: Mark D. Collins, Marcos A. Ramos, Cory Kandestin, Richards, Layton & Finger, P.A., Wilmington, DE; Mitchell A. Karlan, Paul J. Kremer, Gibson, Dunn & Crutcher LLP for appellants.
    for defendant: Curtis Miller, Daniel B. Butz, Jonathan M. Weyland, Morris Nichols, Arsht & Tunnell LLP, Wilmington, DE; James A. Bombulie, Dustin B. Hillsley, Akerman, LLP, Miami, FL; Brian P. Miller, King & Spalding LLP, Miami, FL for appellees.

    Case Number: 22-179-RGA

    Statute of limitations barred adversary complaints filed on behalf of debtors by their creditor where creditor's prior lawsuit against debtors based on the same factual predicate put debtors on notice of the claims raised in the adversary proceeding.

  • In re Fox Corp.

    Publication Date: 2024-01-29
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Technology Media and Telecom
    Court: Delaware Supreme Court
    Judge: Justice Seitz
    Attorneys: For plaintiff: Gregory V. Varallo, Daniel E. Meyer, Bernstein Litowitz Berger & Grossmann LLP, Wilmington, DE; Mark Lebovitch, Edward G. Timlin, Bernstein Litowitz Berger & Grossmann LLP, New York, NY for appellants.
    for defendant: William B. Chandler III, Brad D. Sorrels, Amy L. Simmerman, Daniyal M. Iqbal, Nora M. Crawford, Wilson Sonsini Goodrich & Rosati, P.C., Wilmington, DE; Mark R. Yohalem, Wilson Sonsini Goodrich & Rosati, P.C., Los Angeles, CA; William M. Lafferty, Susan W. Waesco, Alexandra M. Cumings, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE for appellees.

    Case Number: 2022-1007

    Ability to sue corporate officers for fiduciary violations was not a "power, preference, or special right" of a class of stock and thus a proposed amendment to add an officer exculpation clause did not require a separate class vote under the Delaware General Corporation Law.

  • Paul v. Rockpoint Group, LLC

    Publication Date: 2024-01-22
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Christopher B. Chuff, Joanna J. Cline, Troutman Pepper Hamilton Sanders LLP, Wilmington, DE; A. Christopher Young, Erica H. Dressler, Troutman Pepper Hamilton Sanders LLP, Philadelphia, PA for plaintiff.
    for defendant: Blake Rohrbacher, Matthew D. Perri, Morgan R. Harrison, Richards, Layton & Finger, P.A., Wilmington, DE; Joseph M. McLaughlin, Anthony C. Piccirillo, Simpson Thatcher & Bartlett LLP, New York, NY for defendant.

    Case Number: 2018-0907-JTL

    Company erred in submitting legal issues to its appraiser that fell outside the scope of the appraiser's limited authority to resolve legal issues concerning the company's operating agreement, as the appraiser was an expert rather than an arbitrator with plenary authority.

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  • In re: Center City Healthcare, LLC

    Publication Date: 2024-01-22
    Practice Area: Real Estate
    Industry: Investments and Investment Advisory | Real Estate
    Court: U.S. Bankruptcy Court
    Judge: Judge Walrath
    Attorneys: For plaintiff:
    for defendant:

    Case Number: 19-11466 (MFW)

    Court declined to dismiss plaintiffs' claims where the parties unambiguously had an agreement creating an easement although certain terms in the agreements were susceptible to multiple interpretations, requiring further proceedings.

  • City of Hialeah Employees' Ret. Sys. v. Insight Venture Partners, LLC

    Publication Date: 2024-01-08
    Practice Area: Mergers and Acquisitions
    Industry: Financial Services and Banking | Investments and Investment Advisory | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Zurn
    Attorneys: For plaintiff: Thomas Curry, Tayler D. Bolton, Saxena White P.A., Wilmington, DE; David Wales, Saxena White P.A., White Plains, NY; Adam Warden, Saxena White P.A., Boca Raton, FL; Peter B. Andrews, Craig J. Springer, David M. Sborz, Andrew J. Peach, Jackson E. Warren, Jacob D. Jeifa, Wilmington, DE, Andrews & Springer LLC for plaintiff.
    for defendant: Garrett B. Moritz, S. Reiko Rogozen, Ross Aronstam & Moritz LLP, Wilmington, DE; Steven M. Farina, George A. Borden, Brian T. Gilmore, Williams & Connolly LLP, Washington, DC; William M. Lafferty, Ryan D. Stottmann, Rachel R. Tunney, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Tariq Mundiya, Jeffrey B. Korn, Richard Li, Ciara A. Sisco, Willkie Farr & Gallagher LLP, New York, NY for defendants.

    Case Number: 2022-0846-MTZ

    Plaintiff failed to plead demand futility for derivative complaint where controller's ability to remove board members by itself could not establish a lack of independence and a majority of the board's financial ties did not prevent them from exercising independent judgment.

  • In re Fox Corp. Derivative Litig.

    Publication Date: 2024-01-08
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Legal Services | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Joel Friedlander, Jeffrey M. Gorris, Christopher M. Foulds, Friedlander & Gorris, P.A., Wilmington, DE; Julie Goldsmith Reiser, Molly J. Bowen, Brendan Schneiderman, Cohen Milstein Sellers & Toll PLLC, Washington, DC; Katherine Lubin Benson, Lieff Cabraser Heimann & Bernstein, LLP, San Francisco, CA; Nicholas Diamond, Gabriel A. Panek, Lieff Cabraser Heimann & Bernstein, LLP, New York, NY; Ellen Rosenblum, Attorney General, Brian A. de Haan, Senior Assistant Attorney General, Oregon Department of Justice, Portland, OR; Andrew E. Blumberg, Daniel E. Meyer, Bernstein Litowitz Berger & Grossman LLP, Wilmington, DE; Ned Weinberger, Labaton Sucharow LLP, Wilmington, DE; Christopher H. Lyons, Tayler D. Bolton, Robbins Geller Rudman & Dowd LLP, Wilmington, DE; Randall J. Baron, David A. Knotts, Robbins Geller Rudman & Dowd LLP, San Diego, CA; Lee Rudy, Eric L. Zagar, Geoffrey C. Jarvis, Kessler Topaz Meltzer & Check, LLP, Radnor, PA; Jeremy Friedman, David Tejtel, Friedman Oster & Tejtel PLLC, Bedford Hills, NY for plaintiffs.
    for defendant:

    Case Number: 2023-0418-JTL

    Court granted the application of a plaintiff team to lead a consolidated derivative action where counsel had organized the stronger litigation team and the selected plaintiffs consistent of public agencies/officials with extensive financial experience.

  • Estate of Barotz v. Martha Barotz 2006-1 Ins. Trust

    Publication Date: 2024-01-08
    Practice Area: Insurance Law
    Industry: Insurance | Investments and Investment Advisory
    Court: Delaware Superior Court
    Judge: Judge Davis
    Attorneys: For plaintiff: Donald L. Gouge, Jr., Donald L. Gouge, Jr., LLC, Wilmington, DE for plaintiff.
    for defendant: Steven L. Caponi, Mathew B. Goeller, K&L Gates LLP, Wilmington, DE for defendants.

    Case Number: N20C-04-126 EMD CCLD

    Life insurance was void ab initio where parties without an insurable interest in the life of the decedent used Delaware statutory trusts to conceal the illegal nature of the policy and facilitate payment of policy premiums.

  • Lebanon County Employees' Ret. Fund v. Collis

    Publication Date: 2024-01-01
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Pharmaceuticals
    Court: Delaware Supreme Court
    Judge: Justice Traynor
    Attorneys: For plaintiff: Samuel L. Closic, Eric J. Juray, Prickett, Jones & Elliott, P.A., Wilmington, DE; Gregory V. Varallo, Andrew Blumberg, Bernstein Litowitz Berger & Grossman LLP, Wilmington, DE for appellants.
    for defendant: Stephen C. Norman, Jennifer C. Wasson, Tyler J. Leavengood, Christopher D. Renaud, Potter Anderson & Corroon LLP, Wilmington, DE; Michael S. Doluisio, Brittany Zoll, Christopher J. Merken, Dechert LLP, Philadelphia, PA; Matthew L. Larrabee, Hayoung Park, Julia Markham-Cameron, Dechert LLP, New York, NY; Michael D. Blanchard, Amelia Pennington, Morgan, Lewis & Bockius, LLP, Boston, MA for appellees.

    Case Number: 22, 2023

    Chancery court erred in adopting West Virginia court's factual findings through judicial notice where such facts were disputed by the parties to the present action.