• Manti Holdings, LLC v. Authentix Acquisition Co., Inc.

    Publication Date: 2021-09-29
    Practice Area: Corporate Entities
    Industry: E-Commerce | Investments and Investment Advisory | Technology Media and Telecom
    Court: Delaware Supreme Court
    Judge: Justice Davis
    Attorneys: For plaintiff: John L. Reed, Peter H. Kyle, Kelly L. Freund, DLA Piper LLP (US), Wilmington, DE for petitioners.
    for defendant: Samuel A. Nolen, Richards, Layton & Finger, P.A., Wilmington, DE; Andrew Hammond, Michelle Letourneau-Belock, Bryan Beaudoin, White & Case LLP, New York, NY for respondent.

    Case Number: D69551

    The Delaware Supreme court held that stockholders could waive their statutory appraisal rights.

  • Henry v. Wilmington Trust, N.A.

    Publication Date: 2021-09-29
    Practice Area: Securities Litigation
    Industry: Investments and Investment Advisory
    Court: U.S. District Court of Delaware
    Judge: District Judge Noreika
    Attorneys: For plaintiff: David A. Felice, Bailey & Glasser, LLP, Wilmington, DE; Gregory Y. Porter, Ryan T. Jenny, Patrick O. Muench, Bailey & Glasser, LLP, Washington, DC; Daniel Feinberg, Todd Jackson, Feinberg, Jackson, Worthman & Wasow LLP, Berkeley, CA for plaintiff.
    for defendant: Albert H. Manwaring, Kristen A. Zeberkiewicz, Morris James LLP; Michael J. Prame, Sarah M. Adams, Elizabeth L. Woods, Groom Law Group, Chartered, Washington, DC; Art C. Arnailla, Marshall Dennehey Warner Coleman & Goggin, P.C., Wilmington, DE; Mark A. Nebrig, Kristen J. Kenley, Moore & Van Allen PLLC, Charlotte, NC for defendants.

    Case Number: D69557

    Court declined to enforce arbitration clause in ERISA employee stock plan where there was a genuine issue of material fact as to whether employee had affirmatively assented to the arbitration clause.

  • In re The Boeing Co. Derivative Litig.

    Publication Date: 2021-09-22
    Practice Area: Corporate Entities
    Industry: Aerospace | Investments and Investment Advisory | Manufacturing
    Court: Court of Chancery
    Judge: Vice Chancellor Zurn
    Attorneys: For plaintiff: Joel Friedlander, Jeffrey M. Gorris, Christopher M. Foulds, Friedlander & Gorris, P.A., Wilmington, DE; Richard M. Heimann, Katherine Lubin Benson, Lieff Cabraser Heimann & Bernstein, LLP, San Francisco, CA; Steven E. Fineman, Nicholas Diamond, Sean Petterson, Rhea Ghosh, Kartik S. Madiraju, Lieff Cabraser Heimann & Bernstein, LLP, New York, NY for plaintiffs.
    for defendant: Blake Rohrbacher, Kevin M. Gallagher, Ryan D. Konstanzer, Richards, Layton & Finger, P.A., Wilmington, DE; Joshua Z. Rabinovitz, Kirkland & Ellis LLP, Chicago, IL for defendants.

    Case Number: D69544

    Demand futility sufficiently pled by alleging that directors could face substantial likelihood of liability for failure to establish reporting systems and for ignoring warning signs regarding product safety.

  • Techview Inv. Ltd. V. Amstar Poland Prop. Fund I, L.P.

    Publication Date: 2021-09-15
    Practice Area: Deals and Transactions
    Industry: Investments and Investment Advisory | Real Estate
    Court: Delaware Superior Court
    Judge: Judge Davis
    Attorneys: For plaintiff: Kenneth J. Nachbar, Ryan D. Stottmann, Miranda N. Gilbert, Morris Nichols Arsht & Tunnell LLP, Wilmington, DE; Michael B. Carlinsky, David E. Myre, Quinn Emanuel Urquhart & Sullivan, LLP, New York, NY for plaintiffs.
    for defendant: A. Thompson Bayliss, E. Wade Houston, Abrams & Bayliss, LLP, Wilmington, DE; Emily L. Wasserman, Davis Graham & Stuffs LLP, Denver, CO for defendants.

    Case Number: D69540

    The court granted defendants' motions to dismiss because it lacked personal jurisdiction over certain nonresident defendants, another court had exclusive jurisdiction over the gross negligence claim, and plaintiffs failed to state a claim for fraudulent inducement.

  • Teamsters Local 237 Additional Sec. Benefit Fund v. Caruso

    Publication Date: 2021-09-15
    Practice Area: Mergers and Acquisitions
    Industry: Investments and Investment Advisory | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Fioravanti
    Attorneys: For plaintiff: Joel Friedlander, Jeffrey M. Gorris, Christopher M. Foulds, Friedlander & Gorris, P.A., Wilmington, DE; Gregory V. Varallo, Bernstein Litowitz Berger & Grossman LLP, Wilmington, DE; Mark Lebovitch, Jeroen van Kwawegen, Andrew E. Blumberg, Bernstein Litowitz Berger & Grossman LLP, New York, NY; Randall J. Baron, David Wissbroecker, Robbins Geller Rudman & Dowd LLP, San Diego, CA; Christopher H. Lyons, Robbins Geller Rudman & Dowd LLP, Nashville, TN for plaintiffs.
    for defendant: Edward B. Micheletti, Cliff C. Gardner, Veronica B. Bartholomew, Gregory P. Ranzini, Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington, DE for defendant.

    Case Number: D69536

    Claim of breach of fiduciary duty by CEO with conflict of interest in merger transaction failed where there was no allegation that the independent board was unreasonable in its oversight activities during the negotiation process or that CEO acted to undermine the board's authority.

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  • Hawkins v. Daniel

    Publication Date: 2021-09-08
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Pharmaceuticals
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Richard I. G. Jones, Jr., John G. Harris, Berger Harris LLP, Wilmington, DE for plaintiff.
    for defendant: David J. Teklits, Sara Toscano, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Jeffrey Alan Simes, Goodwin Procter LLP, New York, NY for defendant.

    Case Number: D69526

    Court declined to dismiss case in favor of previously-filed action involving the parties, where the present case involved distinct issues and the previously-filed action was heading to trial, such that dismissing the present case would not serve judicial economy by forcing the previously-filed action to return to the pleadings stage.

  • In re: Zohar III, Corp.

    Publication Date: 2021-09-08
    Practice Area: Bankruptcy
    Industry: Investments and Investment Advisory
    Court: U.S. District Court of Delaware
    Judge: District Judge Noreika
    Attorneys: For plaintiff: Norman L. Pernick, G. David Dean, Patrick J. Reilley, Cole Schotz, PC, Wilmington, DE; Monica K. Loseman, Gibson, Dunn & Crutcher LLP, Denver, CO; Randy M. Mastro, Akiva Shapiro, Michael L. Nadler, Gibson, Dunn & Crutcher LLP, New York, NY; Michael G. Farag, Gibson, Dunn & Crutcher LLP, Los Angeles, CA for appellant.
    for defendant: James L. Patton, Jr., Robert S. Brady, Michael R. Nestor, Joseph M. Barry, Ryan M. Bartley, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE for debtors.

    Case Number: D69533

    Bankruptcy court properly interpreted a disputed term based on the plain language of the contract itself, so extrinsic evidence was not necessary.

  • In re Dissolution of Jeffco Mgmt., LLC

    Publication Date: 2021-09-01
    Practice Area: Corporate Entities
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Fioravanti
    Attorneys: For plaintiff: Jason C. Powell, The Powell Firm, LLC, Wilmington, DE, receiver for Jeffco Management, LLC. S. Michael Sirkin Ross Aronstam & Moritz LLP, Wilmington, DE for petitioner.
    for defendant: John G. Harris, Berger Harris LLP, Wilmington, DE; James Nealon, Withers Bergman LLP, New York, NY for respondent.

    Case Number: D69524

    The court granted the receiver's motion to approve an in-kind distribution of the assets of a limited liability company to one of the members, and it ordered the other member to pay attorney fees.

  • In re: F-Squared Inv. Mgmt., LLC

    Publication Date: 2021-08-25
    Practice Area: Bankruptcy
    Industry: Investments and Investment Advisory
    Court: U.S. Bankruptcy Court
    Judge: Judge Silverstein
    Attorneys: For plaintiff:
    for defendant:

    Case Number: D69513

    Certain tax distributions made by debtor were for reasonably equivalent value, so the court granted defendants' motion for summary judgment against the trustee's fraudulent transfer claims.

  • Aureus Holdings, LLC v. Kubient, Inc.

    Publication Date: 2021-08-25
    Practice Area: Mergers and Acquisitions
    Industry: Advertising | E-Commerce | Investments and Investment Advisory
    Court: Delaware Superior Court
    Judge: Judge Davis
    Attorneys: For plaintiff: Larry R. Wood, Jr., Brandon W. McCune, Blank Rome LLP, Wilmington, DE for plaintiff.
    for defendant: Rudolf Koch, Travis S. Hunter, Nicole K. Pedi, Valerie A. Caras, Richards, Layton & Finger, P.A., Wilmington, DE for defendant.

    Case Number: D69510

    Court declined to dismiss unjust enrichment/tortious interference claims where plaintiff alleged that defendant acted in bad faith to siphon plaintiff's customers and business development efforts, and where the parties' binding letter of intent only governed the parties' duties to create a final acquisition agreement.