• In re: HomeFed Corp. Stockholder Litig.

    Publication Date: 2020-07-29
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Real Estate
    Court: Court of Chancery
    Judge: Chancellor Bouchard
    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; Ned Weinberger, John Vielandi and David MacIsaac, Labaton Sucharow LLP, Wilmington, DE and New York, NY; D. Seamus Kaskela, Kaskela Law LLC, Newtown Square, PA for plaintiffs.
    for defendant: S. Mark Hurd and Alexandra M. Cumings, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; John P. Stigi III and Kristin P. Housh, Sheppard, Mullin, Richter & Hampton LLP, Los Angeles, CA and San Diego, CA for defendants Bienvenue and Borden. Bradley R. Aronstam and S. Michael Sirkin, Ross Aronstam & Moritz LLP, Wilmington, DE; Joseph S. Allerhand, Evert J. Christensen Jr. and Elizabeth M. Sytsma, Weil, Gotshal & Manges LLP, New York, NY for defendants Friedman, Hallac, Steinberg and Jeffries Fin. Group Inc.

    Case Number: D69065

    Plaintiffs' complaint adequately stated a claim for breach of fiduciary duty in connection with this minority squeeze-out transaction. Motions to dismiss denied.

  • Komen v. Breyer, LLC

    Publication Date: 2020-07-15
    Practice Area: Mergers and Acquisitions
    Industry: Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Bouchard
    Attorneys: For plaintiff: Peter B. Andrews, Craig J. Springer and David M. Sborz, Andrews & Springer LLC, Wilmington, DE; Brian J. Robbins and Stephen J. Oddo, Robbins LLP, San Diego, CA; Steven J. Purcell, Douglas E. Julie and Robert H. Lefkowitz, Purcell Julie & Lefkowitz LLP, New York, NY for plaintiff.
    for defendant: Blake Rohrbacher, Rudolf Koch and Matthew W. Murphy, Richards, Layton & Finger, P.A., Wilmington, DE; Sandra C. Goldstein and Stefan Atkinson, Kirkland & Ellis LLP, New York, NY for defendants.

    Case Number: D69051

    Plaintiff failed to state either a direct or derivative claim in this action challenging a merger, so the court dismissed the complaint with prejudice.

  • Braga Inv. & Advisory, LLC v. Yenni Income Opportunities Fund I, L.P.

    Publication Date: 2020-06-24
    Practice Area: Mergers and Acquisitions
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Chancellor Bouchard
    Attorneys: For plaintiff: Blake Rohrbacher and Kevin M. Regan, Richards, Layton & Finger, P.A., Wilmington, DE; David Lackowitz and Alexandra Kolod, Moses & Singer LLP, New York, NY for plaintiff.
    for defendant: Julia B. Klein, Klein LLC, Wilmington, DE; Justin S. Stern, Frigon Maher & Stern LLP, New York, NY for defendant.

    Case Number: D69024

    Breach of contract claim failed where joinder agreement adding plaintiff as a party to a purchase agreement was not executed by all the parties required to amend the purchase agreement, thereby rendering the joinder agreement invalid.

  • Riker v. Teucrium Trading, LLC

    Publication Date: 2020-05-27
    Practice Area: Corporate Entities
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Chancellor Bouchard
    Attorneys: For plaintiff: Michael F. Bonkowski and Andrew L. Cole, Cole Schotz P.C., Wilmington, DE; Roger A. Lane and Courtney Worcester, Foley & Lardner LLP, Boston, MA for plaintiff.
    for defendant: T. Brad Davey and Mathew A. Golden, Potter Anderson & Corroon LLP, Wilmington, DE; Barry S. Pollack and Joshua L. Solomon, Pollack Solomon Duffy LLP, Boston, MA for defendant.

    Case Number: D68995

    In this books and records request matter, the court held that plaintiff was entitled to certain documents to value his interest, but the court denied other aspects of his request.

  • Acela Inv. LLC v. DiFalco

    Publication Date: 2020-05-13
    Practice Area: Corporate Entities
    Industry: Pharmaceuticals
    Court: Court of Chancery
    Judge: Chancellor Bouchard
    Attorneys: For plaintiff: Peter B. Ladig and Brett M. McCartney, Bayard, P.A., Wilmington, DE for plaintiffs.
    for defendant: Carmella P. Keener, Cooch and Taylor, P.A., Wilmington, DE; William T. Reid IV, Michael Yoder, Jordan L. Vimont, and Ryan M. Goldstein, Reid Collins & Tsai LLP, Austin, TX for defendants.

    Case Number: D68974

    Liquidating trustee reasonably concluded that one asset purchase bid was superior to the other where the accepted bid was an all-cash offer that would help the company's depleted cash reserves and where the rejected bid had an unacceptable risk component as to the bidder's ability to commercialize the company's IP to pay the royalty component.

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  • Highway to Health, Inc. v. Bohn

    Publication Date: 2020-04-29
    Practice Area: Corporate Entities
    Industry: Insurance | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Bouchard
    Attorneys: For plaintiff: Jody C. Barillare, Morgan, Lewis & Bockius LLP, Wilmington, DE; Brian W. Shaffer and John M. Lupton IV of Morgan, Lewis & Bockius LLP, Philadelphia, PA for plaintiffs.
    for defendant: Jami B. Nimeroff, Brown McGarry Nimeroff , Wilmington, DE; Mary Kay Brown and Raymond McGarry of Brown McGarry Nimeroff LLC, Philadelphia, PA for defendants.

    Case Number: D68961

    The court lacked personal jurisdiction over defendants under either the state's long-arm statute or a forum selection clause contained in a stockholder agreement. Motion to dismiss granted.

  • Buckley Family Trust v. McCleary

    Publication Date: 2020-04-15
    Practice Area: Corporate Governance
    Industry: Food and Beverage | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Chancellor Bouchard
    Attorneys: For plaintiff: Peter J. Walsh, Jr. and Jacqueline A. Rogers, Potter Anderson & Corroon LLP, Wilmington, DE for plaintiff.
    for defendant: Daniel A. Dreisbach, Richard P. Rollo, and Angela Lam, Richards, Layton & Finger, P.A., Wilmington, DE for defendants.

    Case Number: D68943

    Shareholder derivative complaint dismissed where directors reasonably exercised business judgment to decline to issue dividends and on other issues, such that directors faced no substantial risk of personal liability and could have impartially considered litigation demand.

  • In re: AmTrust Fin. Serv., Inc. Stockholder Litig.

    Publication Date: 2020-03-11
    Practice Area: Mergers and Acquisitions
    Industry: Insurance | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Chancellor Bouchard
    Attorneys: For plaintiff: Ned Weinberger, Thomas Curry and Mark D. Richardson, Labaton Sucharow LLP, Wilmington, DE; Jay W. Eisenhofer, Mi-chael J. Barry and Kyle J. McGee, Grand & Eisenhofer P.A., Wilmington, DE; Marcus E. Montejo, Stephen D. Dargitz and John G. Day, Prickett, Jones & Elliott, P.A., Wilmington, DE; Carl L. Stine, Adam J. Blander and Antoinette Adesanya, Wolf Popper LLP, New York, NY; Jeremy Friedman, Spencer Oster and David Tejtel, Friedman Oster & Tejtel, PLLC, New York, NY; Eric L. Zagar, Robin Winchester, Michael C. Wagner and Christopher M. Windover, Kessler Topaz Meltzer & Check, LLP, Radnor, PA; David Wales and Edward Timlin, Bernstein Litowitz Berger & Grossmann LLP, New York, NY; Joseph E. White, III, Adam D. Warden, Steven B. Singer and Joshua Saltzman, Saxena White P.A., Boca Raton, FL and White Plains, NY for plaintiffs.
    for defendant: Edward B. Micheletti and Bonnie W. David, Skadden, Arps, Slate, Meagher & Flow LLP, Wilmington, DE for Stone Point, Trident and Parallel Fund defendants. Gregory P. Williams, Blake Rohrbacher, Daniel E. Kaprow and Ryan D. Konstanzer, Richards, Layton & Finger, P.A., Wilmington, DE; Tariq Mundiya and Sameer Advani, Willkie Farr & Gallagher LLP, New York, NY for defendants DeCarlo, Fisch, Gulkowitz and Rivera. Daniel A. Mason, Andrew G. Gordon and William A. Clareman, Paul, Weiss, Rifkind, Wharton & Garrison LLP, Wilmington, DE and New York, NY for Zyskind, Karfunkel and Ev-ergreen defendants.

    Case Number: D68906

    Plaintiffs alleged sufficient facts to support a reasonable inference that certain defendants participated in a breach of fiduciary duty, so the entire fairness standard applied. The court dismissed the remainder of plaintiffs' claims.

  • Ogus v. SportTechie, Inc.

    Publication Date: 2020-02-19
    Practice Area: Corporate Governance
    Industry: Technology Media and Telecom
    Court: Court of Chancery
    Judge: Chancellor Bouchard
    Attorneys: For plaintiff: T. Brad Davey and Matthew A. Golden, Potter Anderson & Corroon LLP, Wilmington, DE; Gregory A. Markel and Tonya M. Esposito, Seyfarth Shaw LLP, New York, NY and Washington, DC for plaintiff.
    for defendant: Art C. Aramilla, Marshall Dennehey Warner Coleman & Goggin, P.C., Wilmington, DE for defendants Bloom, Bodie and Kaufman. Brian M. Rostocki, Benjamin P. Chapple, Justin M. Forcier and Michael S. Leib, Reed Smith LLP, Wilmington, DE and Chicago, IL for defendants SportTechie, Inc. and Oak View Group, LLC.

    Case Number: D68885

    Plaintiff adequately stated claims for fraud, breach of fiduciary duty and breach of contract after he was forced out of a company, but the court dismissed some of his aiding and abetting claims.

  • Gulf LNG Energy, LLC v. Eni USA Gas Mktg. LLC

    Publication Date: 2020-01-15
    Practice Area: Contracts | Damages
    Industry: Energy
    Court: Court of Chancery
    Judge: Chancellor Bouchard
    Attorneys: For plaintiff: Bradley R. Aronstam, S. Michael Sirkin, and R. Garrett Rice, Ross Aronstam & Moritz LLP, Wilmington, DE; Joseph S. Allerhand, Seth Goodchild, and Tania C. Matsuoka, Weil, Gotshal & Manges LLP, New York, NY; Mark W. Friedman, William H. Taft V, Carl Micarelli, and Lisa Wang Lachowicz, Debevoise & Plimpton LLP, New York, NY for plaintiffs.
    for defendant: Joseph B. Cicero and Gregory E. Stuhlman, Chipman Brown Cicero & Cole, LLP, Wilmington, DE; Joseph J. LoBue and Helene Gogadze, Sheppard, Mullin, Richter & Hampton LLP, Washington, DC for defendant.

    Case Number: D68838

    Second arbitration enjoined to the extent it constituted collateral attack on damages award from prior arbitration between the parties, but plaintiff's claim pled but not decided in first arbitration could proceed to a determination on arbitrability.