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  • English v. Narang

    Publication Date: 2019-04-03
    Practice Area: Mergers and Acquisitions
    Industry: Investments and Investment Advisory | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Chancellor Bouchard
    Attorneys: For plaintiff: Blake A. Bennett, Cooch and Taylor, P.A., Wilmington, DE; W. Scott Holleman and Garam Choe, Johnson Fistel, LLP, New York, NY for plaintiffs.
    for defendant: Elena C. Norman and Daniel M. Kirshenbaum, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; Joshua Z. Rabinovitz, Kirkland & Ellis LLP, Chicago, IL; Devora W. Allon, Kirkland & Ellis LLP, New York, NY for defendants.
    Case Number: D68510

    Breach of fiduciary duty following tender offer merger transaction dismissed where plaintiffs failed to present facts supporting allegation that controlling stockholder had motivation to engineer sale for personal liquidity concerns or that the board intentionally depressed company projections in the tender offer recommendation statement.

  • In re Pilgrim's Pride Corp. Derivative Litig.

    Publication Date: 2019-03-27
    Practice Area: Corporate Governance
    Industry: Food and Beverage | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Kurt M. Heyman and Melissa N. Donimirski, Heyman Enerio Gattuso & Hirzel LLP, Wilmington, DE; Ja-son M. Leviton and Joel A. Fleming, Block & Leviton LLP, Boston, MA; Mark Lebovitch, Edware G. Timlin and David MacIsaac, Bernstein Litowitz Berger & Grossmann LLP, New York, NY for plaintiffs.
    for defendant: Kevin G. Abrams, Michael A. Barlow and Andrew J. Peach, Abrams & Bayliss LLP, Wilmington, DE; Mi-chael B. Carlinsky and Adam M. Abensohn, Quinn Emanuel Urquhart & Sullivan LLP, New York, NY for defendants. Kevin R. Shannon, Christopher N. Kelly and Jaclyn C. Levy, Potter Anderson & Corroon LLP, Wilmington, DE for nominal defendant Pilgrim's Pride Corp.
    Case Number: D68506

    Based on the company's bylaws, the court had personal jurisdiction over the parties to this dispute.

  • Winklevoss Capital Fund v. Shaw

    Publication Date: 2019-03-13
    Practice Area: Business Torts
    Industry: Investments and Investment Advisory | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: P. Clarkson Collins, Jr. and Albert J. Carroll, Morris James LLP, Wilmington, DE; Charles J. Harder, Harder LLP, Beverly Hills, CA for plaintiffs.
    for defendant: Richard G. Placey, McCracken Walker & Rhoads, LLP, Wilmington, DE; Carlos F. Gonzales and Matthew Pace of Rimon, P.C. , Coral Gables, FL and New York, NY for defendants.
    Case Number: D68492

    Defendants' counterclaims were time-barred, and defendants failed to demonstrate that tolling applied.

  • Winshall v. Viacom Int'l, Inc.

    Publication Date: 2019-03-13
    Practice Area: Mergers and Acquisitions
    Industry: Investments and Investment Advisory | Technology Media and Telecom
    Court: Delaware Superior Court
    Judge: Judge Davis
    Attorneys: For plaintiff: Colin R. Hagan, David J. Shlansky and David H. Holloway, Shlansky Law Group, LLP, Wilmington, DE for plaintiff.
    for defendant: Robert A. Atkins, Steven C. Herzog, Stephen P. Lamb and Daniel A. Mason, Paul, Weiss, Rifkind, Wharton & Garrison LLP, New York and Wilmington, DE for defendant.
    Case Number: D68493

    All of plaintiff's breach of contract claims were barred by res judicata or the statute of limitations, except the claim for indem-nification of attorney fees.

  • Hoyd v. Trussway Holdings, LLC

    Publication Date: 2019-03-13
    Practice Area: Mergers and Acquisitions
    Industry: Construction | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Thomas A. Uebler and Kerry M. Porter, McCollom D'Emilio Smith Uebler LLC, Wilmington, DE for petitioner.
    for defendant: Michael F. Bonkowski, Nicholas J. Brannick, G. David Dean and Bradley P. Lehman, Cole Schotz P.C., Wilmington, DE for re-spondent.
    Case Number: D68488

    In this appraisal matter, the court relied on a discounted cash flow analysis to arrive at the fair value of the shares on the date of the merger.

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  • ISN Software Corp. v. Richards, Layton & Finger, P.A.

    Publication Date: 2019-03-06
    Practice Area: Legal Malpractice | Mergers and Acquisitions
    Industry: Investments and Investment Advisory | Legal Services | Software
    Court: Delaware Superior Court
    Judge: Judge Johnston
    Attorneys: For plaintiff: Christopher H. Lee and Blake A. Bennett, Cooch and Taylor, P.A.; Timothy S. Perkins, Underwood Perkins, P.C. for plaintiff.
    for defendant: P. Clarkson Collins, Jr., Carl N. Kunz, III, and Kathleen A. Murphy, Morris James LLP; George M. Kryder and Melissa L. James, Vinson & Elkins LLP for defendants.
    Case Number: D68450

    Legal malpractice action accrued once counsel advised plaintiff client of potential issues with counsel's advice regarding a cash-out merger, which could have resulted financial losses for plaintiffs.

  • Ray Beyond Corp. v. Trimaran Fund Mgmt., L.L.C.

    Publication Date: 2019-02-20
    Practice Area: Contractual Disputes | Mergers and Acquisitions
    Industry: Education | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor McCormick
    Attorneys: For plaintiff: Kenneth J. Nachbar and Sabrina M. Hendershot, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Phillip A. Geraci, Aaron F. Miner and Harry K. Fidler, Arnold & Porter Kaye Scholer LLP, New York, NY for plaintiff and third-party defendant.
    for defendant: Robert S. Saunders, Jenness E. Parker, Lauren N. Rosenello and Jessica M. Jones, Skadden, Arps, Slate, Meagher & Flom, LLP, Wilmington, DE for defendant.
    Case Number: D68467

    A party was not entitled to specific enforcement of a provision for expert determination where the parties' dis-pute involved an issue outside the expert's area of expertise.

  • Lord Abbett Affiliated Fund v. Navient Corp.

    Publication Date: 2019-02-20
    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: Patrick F. Morris, Karen L. Morris and R. Michael Lindsey, Morris and Morris LLC, Wilmington, DE; Ste-ven E. Fineman, Daniel P. Chiplock, Michael J. Miarmi, Richard M. Heimann, Bruce W. Leppla and Sha-ron M. Lee, Liefe Cabraser Heimann & Bernstein, New York, NY for plaintiffs.
    for defendant: Kelly E. Farnan, Richards Layton & Finger, P.A., Wilmington, DE; Peter A. Wald, Abid R. Qureshi, Christopher S. Turner and Christopher R. Harris, Latham & Watkins LLP, Washington, DC for Navient Corp. and individual defendants. Kevin G. Abrams and John M. Seaman, Abrams & Bayliss LLP, Wil-mington, DE; Adam S. Hakki, Daniel C. Lewis and Anthony D. Marinello of Shearman & Sterling LLP for underwriter defendants.
    Case Number: D68465

    Plaintiffs adequately stated claims for securities violations, except with regard to statements that were mere puffery and where plaintiffs failed to demonstrate scienter.

  • KT4 Partners LLC v. Palantir Tech. Inc.

    Publication Date: 2019-02-13
    Practice Area: Corporate Entities
    Industry: Investments and Investment Advisory | Technology Media and Telecom
    Court: Delaware Supreme Court
    Judge: Justice Strine
    Attorneys: For plaintiff: Bartholomew J. Dalton and Michael C. Dalton, Dalton & Assoc., P.A., Wilmington, DE; Barry S. Simon, Jonathan B. Pitt and Stephen L. Wohlgemuth, Williams & Connolly LLP, Washington, DC for plaintiff.
    for defendant: Blake Rohrbacher, Kevin M. Gallagher and Kelly L. Freund, Richards, Layton & Finger, P.A., Wilming-ton, DE; Kevin J. Orsini and Rory A. Leraris, Cravath, Swaine & Moore LLP, New York, NY for defendant.
    Case Number: D68458

    The chancery court abused its discretion in refusing to allow a shareholder to inspect emails under a §220 books and records, request, because the corporation did not have any formal documents relating to the amend-ment of an investors' rights agreement.

  • A&J Capital, Inc. v. Law Office of Krug

    Publication Date: 2019-02-13
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Kurt M. Heyman, Melissa N. Donimirski, and Elizabeth A. DeFelice, Heyman Enerio Gattuso & Hirzel, LLP, Wilmington, DE for plaintiff.
    for defendant: Stephen B. Brauerman and Sara E. Bussiere, Bayard, P.A., Wilmington, DE; Craig H. Marcus, Glaser Weil Fink Howard Avchen & Shapiro LLP, Los Angeles, CA for defendant.
    Case Number: D68454

    Members erred in removing manager where manager specifically bargained for a "for cause" removal standard and members lacked cause to remove manager.