• 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.

  • 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.

  • Goetz v. Voya Fin., Inc.

    Publication Date: 2020-02-19
    Practice Area: Consumer Protection
    Industry: Investments and Investment Advisory
    Court: U.S. District Court of Delaware
    Judge: District Judge Connolly
    Attorneys: For plaintiff: Robert J. Kriner, Jr., Vera G. Belger, Chimicles & Tikellis LLP, Wilmington, DE; Steven A. Schwartz, Chimicles & Tikellis LLP, Haverford, PA; Franklin D. Azar, H. Zachary Balkin, Paul R. Wood, Jonathan S. Parrott, Franklin D. Azar & Associates P.C., Aurora, CO; Gordon W. Netzorg, Sherman & Howard LLC, Denver, CO for plaintiff.
    for defendant: Patricia R. Urban, Pinckney, Weidinger, Urban & Joyce LLC, Greenville, DE; James F. Jorden, Waldemar J. Pflepsen, Jr., W. Glenn Merten, Faegre Drinker Biddle & Reath, Washington, DCs for defendants.

    Case Number: D68880

    Employee investment plan recordkeeper was not an Employee Retirement Income Security Act fiduciary in setting the fee schedule because it had no existing relationship with the plan or its participants, but had fiduciary duties in preparing regulatory disclosures.

  • Germaninvestments AG v. Allomet Corp.

    Publication Date: 2020-02-12
    Practice Area: Corporate Entities
    Industry: Investments and Investment Advisory | Manufacturing
    Court: Delaware Supreme Court
    Judge: Justice Valihura
    Attorneys: For plaintiff: R. Craig Martin and Kelly L. Freund, DLA Piper LLP, Wilmington, DE for appellants.
    for defendant: John P. DiTomo, Ryan D. Stottmann, and Coleen W. Hill, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE for appellees.

    Case Number: D68872

    Chancery court erred in applying foreign law when defendants failed to meet their burden to establish the law, and thus erred in ruling that a forum clause was mandatory rather than permissive, since the clause was permissive under the applicable Delaware law.

  • BlackRock Credit Allocation Income Trust v. Saba Capital Master Fund

    Publication Date: 2020-01-29
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory
    Court: Delaware Supreme Court
    Judge: Justice Valihura
    Attorneys: For plaintiff: William M. Lafferty, D. McKinley Measley, and Thomas P. Will, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Tariq Mundiya, Sameer Advani, Alexander L. Cheney, and Brittany M. Wagonheim, Willkie Farr & Gallagher LLP, New York, NY for appellants.
    for defendant: Carmella P. Keener, Rosenthal, Monhait & Goddess, P.A., Wilmington, DE; Carol S. Shahmoon and Gregory E. Keller, Shahmoon Keller PLLC, New York, NY for appellee.

    Case Number: D68855

    Stockholder presenting dissident slate of board nominees was not entitled to injunctive relief where, although trusts' requests for additional information was overbroad, the stockholder's failure to timely respond as required by the bylaws precluded its entitlement to relief.

  • Keystone Assoc. LLC v. Barclays Bank PLC

    Publication Date: 2020-01-29
    Practice Area: Securities Litigation
    Industry: Financial Services and Banking | Investments and Investment Advisory
    Court: U.S. District Court of Delaware
    Judge: District Judge Noreika
    Attorneys: For plaintiff: Timothy R. Dudderar and Jonathan A. Choa, Potter Anderson & Corroon LLP, Wilmington, DE; David J. Jordan and Michael R. Menssen, Stoel Rives LLP, Salt Lake City, UT for plaintiff.
    for defendant: Robert S. Saunders and Jeffrey Geier, Skadden, Arps, Slate, Meagher & Flom, LLP, Wilmington, DE and New York, NY for defendant.

    Case Number: D68858

    Plaintiffs failed to satisfy the heightened pleading standard with respect to their fraud and securities claims, and they did not allege a fiduciary relationship in connection with the negligent representation claim.

  • BITG, LLC v. Palantir Techs., Inc.

    Publication Date: 2020-01-22
    Practice Area: Business Torts
    Industry: Investments and Investment Advisory | Software
    Court: Delaware Superior Court
    Judge: Judge Davis
    Attorneys: For plaintiff:
    for defendant:

    Case Number: D68847

    Limitations period tolled under discovery rule where broker did not connect its alleged injury to defendants' purported tortious conduct until defendants had to publicly disclose documents that allegedly showed defendants' efforts to block plaintiff broker out of the proposed transaction.

  • Morrison v. Berry

    Publication Date: 2020-01-15
    Practice Area: Corporate Governance
    Industry: Food and Beverage | Investments and Investment Advisory | Retail
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Joel Friedlander, Jeffrey M. Gorris and Christopher P. Quinn, Friedlander & Gorris, P.A., Wilmington, DE; Randall J. Baron and Christopher H. Lyons, Robbins Geller Rudman & Dowd LLP, San Diego, CA for plaintiff.
    for defendant: Rudolf Koch, Matthew D. Perri and John M. O’Toole, Richards, Layton & Finger, P.A., Wilmington, DE; Adam L. Sisitsky, Lavinia M. Weizel, Robert I. Bodian and Scott A. Rader, Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C., New York, NY and Boston, MA for independent director defendants. William B. Chandler III, Bradley D. Sorrels, Lindsay K. Faccenda and Daniyal M. Iqbal, Wilson Sonsini Goodrich & Rosati, P.C., Wilmington, DE for defendant Duggan. Patricia L. Enerio, Jamie L. Brown and Gillian L. Andrews, Heyman Enerio Gattuso & Hirzell LLP, Wilmington, DE for defendant Anicetti. Kevin G. Abrams, J. Peter Shindel, Jr. and Matthew L. Miller, Abrams & Bayliss LLP, Wilmington, DE; Matthew A. Schwartz and Joshua S. Levy, Sullivan & Cromwell LLP, New York, NY for J.P. Morgan defendants. William M. Lafferty, S. Mark Hurd, Thomas W. Briggs, Jr., Richard Li and Elizabeth A. Mullin, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Stuart W. Gold and Richard W. Clary, Cravath, Swaine & Moore LLP, New York, NY for defendant Cravath, Swaine & Moore LLP. Kevin R. Shannon, Matthew F. Davis and Nicholas S. Prust, Potter Anderson & Corroon LLP, Wilmington, DE; Jonathan Rosenberg and Abby F. Rudzin, O’Melveny & Myers LLP, New York, NY for Apollo defendants. John L. Reed, Peter H. Kyle and David Clarke, Jr., DLA Piper LLP, Wilmington, DE and Washington, DC for Berry defendants.

    Case Number: D68842

    The court granted defendant directors' motions to dismiss.

  • Garfield v. Blackrock Mortgage Ventures, LLC

    Publication Date: 2020-01-08
    Practice Area: Corporate Entities
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor McCormick
    Attorneys: For plaintiff: Kurt M. Heyman, Aaron M. Nelson, Heyman Enerio Gattuso & Hirzel LLP, Wilmington, DE; Jason M. Leviton, Joel A. Fleming, Amanda R. Crawford, Block & Leviton LLP, Boston, MA for plaintiff.
    for defendant: Kenneth J. Nachbar, Morris Nichols Arsht & Tunnell, Wilmington, DE; Deborah S. Birnbach, Jennifer B. Luz, Katherine B. Dacey, Goodwin Procter LLP, Boston, MA; Kevin R. Shannon, Berton W. Ashman, Jr., Callan R. Jackson, Potter Andersoon & Corroon LLP, Wilmington, DE; John P. Coffey, Adina C. Levine, Kramer Levin Naftalis & Frankel LLP, New York, NY; David E. Ross, S. Michael Sirkin, Ross Aronstam & Moritz LLP, Wilmington, DE for defendant.

    Case Number: D68832

    Corporate restructuring transaction was subject to entire fairness review rather than receiving the benefit of the business judgment rule where two large stockholders formed controller group who received special benefits from the reorganization that ordinary stockholders did not receive.

  • Guidry v. Wilmington Trust, N.A.

    Publication Date: 2019-12-25
    Practice Area: Class Actions
    Industry: Investments and Investment Advisory
    Court: U.S. District Court of Delaware
    Judge: District Judge Andrews
    Attorneys: For plaintiff: David A. Felice, Gregory Y. Porter, Patrick Muench and Ryan T. Jenny, Bailey & Glasser, LLP, Wilming-ton, DE and Washington, D.C.; Daniel Feinberg and Todd Jackson, Feinberg, Jackson, Worthman & Wasow LLP, Berkeley, CA for plaintiff.
    for defendant: Albert H. Manwaring, IV, Morris James LLP, Wilmington, DE; Michael J. Prame, Edward J. Meehan and Ross P. McSweeney, Groom Law Group, Washington, D.C. for defendant.

    Case Number: D68818

    Plaintiff met the ascertainability, numerosity and adequacy of representation requirements for a class action.