• In Re Straight Path Commc'ns Inc. Consol. Stockholder Litig.

    Publication Date: 2022-03-29
    Practice Area: Mergers and Acquisitions
    Industry: Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Ned Weinberger,Mark Richardson, Labaton Sucharow LLP, Wilmington, DE; Jeroen van Kwawegen, Edward G. Timlin, Alla Zayenchik, Bernstein Litowitz Berger & Grossmann LLP, New York, NY; Vincent R. Cappucci, Joshua K. Porter, Entwistle & Cappucci LLP, New York, NY for plaintiffs and intervenor-plaintiff.
    for defendant: Rudolf Koch, Kevin M. Gallagher, Daniel E. Kaprow, John M. O’Toole, Melissa A. Lagoumis, Richards, Layton & Finger P.A., Wilmington, DE; Thomas Uebler, McCollom D’Emilio Smith Uebler LLC, Wilmington, DE; Jason Cyrulnik, Paul Fattaruso, Cyrulnik Fattaruso LLP, New York, NY; Kevin R. Shannon, Berton W. Ashman, Jr., Jacqueline A. Rogers, David A. Seal, Potter Anderson & Corroon LLP, Wilmington, DE, for defendants.

    Case Number: D69758

    The court held that a factual record was necessary to determine the adequacy of a stockholder entity to serve as class repre-sentative.

  • Elavon, Inc. v. Elec.. Transaction Sys. Corp.

    Publication Date: 2022-03-22
    Practice Area: Civil Procedure
    Industry: Financial Services and Banking
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Rolin P. Bissell, James M. Yoch, Jr., Peter J. Artese, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; Michael C. Holmes, Jared D. Wilkinson, Vinson & Elkins LLP, Dallas, TX; Michael S. Dry, Vinson & Elkins LLP, Washington, D.C. for plaintiff.
    for defendant: Michael C. Dalton, Bartholomew J. Dalton, of Dalton & Associates, P.A., Wilmington, DE Ryan Scarborough, Graham W. Safty, Trisha Jhunjhnuwala, Williams & Connolly LLP, Washington, D.C.; Adam L. Balick, Melony R. Anderson, Balick & Balick, LLC, Wilmington, DE for defendants.

    Case Number: D69752

    The court found that the Chancery Court did not have subject matter jurisdiction because there was an adequate remedy at law for plaintiff's issue.

  • Lockton v. Rogers

    Publication Date: 2022-03-15
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Software
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Daniel A. Griffith, Whiteford, Taylor & Preston LLC, Wilmington, DE; Allan B. Diamond, Jason Fulton, and John B. Sample, Diamond Mccarthy LLP, Houston, TX for plaintiffs.
    for defendant: Stephen C. Norman, Nicholas D. Mozal, Callan R. Jackson, Potter Anderson & Corroon LLP, Wilmington, DE. Albert H. Manwaring IV, Matthew F. Lintner, Kirsten Zeberkiewicz, Morris James LLP, Wilmington, DE; Robert A. Van Kirk, Sarah F. Kirkpatrick, Williams & Connolly LLP, Washington, DC for defendants.

    Case Number: D69745

    The court held that 1) the record was not sufficient to find that Corwin cleansed the merger transaction and 2) that plaintiffs adequately pled a breach of fiduciary duty against defendants.

  • Manti Holdings, LLC v. The Carlyle Group Inc.

    Publication Date: 2022-03-01
    Practice Area: Mergers and Acquisitions
    Industry: Energy | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Rolin P. Bissell, Paul J. Loughman, Alberto E. Chávez, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; D. Patrick Long, Jonathan R. Mureen John Tancabel, Squire Patton Boggs (US) LLP, Dallas, TX for plaintiffs.
    for defendant: Albert H. Manwaring IV, Kirsten Zeberkiewicz, Morris James LLP, Wilmington, DE; Robert A. Van Kirk, Sarah F. Kirkpatrick, Lauren Uhlig, Williams & Connolly LLP, Washington, DC for defendants.

    Case Number: D69727

    The court held that plaintiffs did not waive their right to bring an action to challenge fiduciary duty breaches allegedly committed in connection with the sale of a company, or for secondary liability claims, because the contract language did not show a clear relinquishment of those rights.

  • In Re Straight Path Commc'ns Inc. Consol. Stockholder Litig.

    Publication Date: 2022-03-01
    Practice Area: Mergers and Acquisitions
    Industry: Investments and Investment Advisory | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Ned Weinberger,Mark Richardson, Labaton Sucharow LLP, Wilmington, DE; Jeroen van Kwawegen, Edward G. Timlin, Alla Zayenchik, Bernstein Litowitz Berger & Grossmann LLP, New York, NY; Vincent R. Cappucci, Joshua K. Porter, Entwistle& Cappucci LLP, New York, NY for plaintiffs.
    for defendant: Rudolf Koch, Kevin M. Gallagher, Daniel E. Kaprow, Richards, Layton & Finger, P.A., Wilmington, DE; Thomas Uebler, Mccollom D’Emilio Smith Uebler LLC, Wilmington, DE; Jason Cyrulnik, Paul Fattaruso, Evelyn Fruchter, Cyrulnik Fetters LLP, New York, NY; Kevin R. Shannon, Berton W. Ashman, Jr., Jacqueline A. Rogers, David A. Seal, Potter Anderson & Corroon LLP, Wilmington, DE, for defendants

    Case Number: D69726

    The court held that there were disputes over material facts regarding which entity was responsible for indemnifying a claim from a settlement with the Federal Communications Commission such that they precluded entry of summary judgment.

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  • Galindo v. Stover

    Publication Date: 2022-02-08
    Practice Area: Mergers and Acquisitions
    Industry: Energy | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Blake A. Bennett, Cooch and Taylor, P.A., Wilmington, DE; Juan E. Monteverde, Monteverde & Associates PC, New York, NY for plaintiffs.
    for defendant: Kenneth J. Nachbar, Alexandra M. Cumings, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Robert S. Harrell, Charles S. Kelley, Joseph De Simone, Michael Rayfield, Mayer Brown LLP, New York, NY for defendants.

    Case Number: D69702

    The court held that the business judgment rule applied to a merger that had been approved by a majority of stockholders.

  • The Williams Cos., Inc. v. Energy Transfer LP

    Publication Date: 2022-01-11
    Practice Area: Mergers and Acquisitions
    Industry: Energy
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Kenneth J. Nachbar, Susan W. Waesco, Matthew R. Clark, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Antony L. Ryan, Kevin J. Orsini, Michael P. Addis, David H. Korn, Cravath, Swaine & Moore LLP, New York, NY for plaintiff and counterclaim defendant.
    for defendant: Rolin P. Bissel, James M. Yoch, Jr., Alberto E. Chávez, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; Michael C. Holmes, John C. Wander, Craig E. Zieminski, Andy E. Jackson, Vinson & Elkins LLP, Dallas, TX, for defendants and counterclaim plaintiffs.

    Case Number: D69672

    The court held that defendant was contractually obligated to reimburse plaintiff for a merger termination fee of $410 million plus interest to plaintiff.

  • BAM Int'l, LLC v. The MSBA Group Inc.

    Publication Date: 2021-12-28
    Practice Area: Contractual Disputes
    Industry: Distribution and Wholesale
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Karen E. Keller, Jeffrey T. Castellano, Nathan R. Hoeschen, Shaw Keller LLP, Wilmington, DE for plaintiff.
    for defendant: Kevin S. Mann, Cross & Simon LLC, Wilmington, DE; John J.E. Markham, II, Markham Read Zerner, LLC, Boston, MA for defendants.

    Case Number: D69661

    Court declined to exercise personal jurisdiction over officers of Delaware corporation where there were insufficient minimum contacts to further support the exercise of jurisdiction under constitutional due process norms.

  • Equity-League Pension Trust Fund v. Great Hill Partners L.P.

    Publication Date: 2021-12-14
    Practice Area: Corporate Governance
    Industry: E-Commerce | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Corinne Elise Amato, Kevin H. Davenport, Jason W. Rigby, Prickett, Jones & Elliott, P.A., Wilmington, DE; Eric L. Zagar, Matthew C. Benedict, Kessler Topaz Meltzer & Check, LLP, Radnor, PA; Patrick C. Lynch, Lynch & Pine, Providence, RI, for plaintiff.
    for defendant: Paul J. Lockwood, Jenness E. Parker, Jacob J. Fedechko, Trevor T. Nielsen, Skadden, Arps, Slate, Meagher & Flom, Wilmington, DE; John L. Reed, Ronald N. Brown, III, Peter H. Kyle, Kelly L. Fruend, DLA Piper LLP (US), Wilmington, DE; Rudolf Koch, Matthew D. Perri, Andrew L. Milam, Richards, Layton & Finger, P.A., Wilmington, DE; Roberto M. Braceras, Caroline H. Bullerjahn, John A. Barker, Dylan E. Schweers, Goodwin Procter LLP, Boston, MA; Kurt M. Heyman, Gillian L. Andrews, Heyman Enerio Gattuso & Hir-zel, LLP, Wilmington, DE; Brandon F. White, Euripides Dalmanieras, Leah S. Rizkallah, Foley Hoag LLP, Boston, MA for defendants.

    Case Number: D69638

    The court held in this derivative suit that demand was not excused where there was no showing that at least five members of a nine-member board of directors were unable to consider a pre-suit demand. Motions to dismiss granted.

  • Knott Partners L.P. v. Telepathy Labs, Inc.

    Publication Date: 2021-12-07
    Practice Area: Corporate Governance
    Industry: E-Commerce | Investments and Investment Advisory | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Neal C. Belgam, Jason Z. Miller, Michael C. Wagner, Smith, Katzenstein & Jenkins LLP, Wilmington, DE; Christopher M. Caparelli, Torys LLP, New York, NY for plaintiff.
    for defendant: Thomas G. Macauley, Macauley LLC, Wilmington, DE; Euripides D. Dalmanieras, Foley Hoag LLP, Boston, MA for defendant.

    Case Number: D69631

    Where a corporation failed to update its stock ledger after acknowledging a convertible note holder's conversion into preferred stock, court could look to extrinsic evidence beyond the ledger to determine standing for a §220 demand.