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Publication Date: 2021-02-24
Practice Area: Trusts and Estates
Industry:
Court: Court of Chancery
Judge: Vice Chancellor Glasscock
Attorneys: For plaintiff: Jon E. Abramczyk, Todd A. Flubacher, Matthew R. Clark, Aubrey J. Morin, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE for petitioner.
for defendant: W. Donald Sparks, II, Chad M. Shandler, Christine D. Haynes, Richards, Layton & Finger, P.A., Wilmington, DE for respondent.
Case Number: D69303
Unclean hands precluded trustee from seeking to void decanting of trust assets into another trust due to trustee's failure to comply with legal requirements, where voiding the action would benefit the trustee as a beneficiary of the original trust, to the detriment of another beneficiary.
Publication Date: 2021-01-27
Practice Area: Corporate Governance
Industry: Hospitality and Lodging
Court: Court of Chancery
Judge: Vice Chancellor Glasscock
Attorneys: For plaintiff: Andrew C. Durham, plaintiff pro se.
for defendant: John G. Harris, Berger Harris LLP, Wilmington, DE for defendant.
Case Number: D69270
LLC member's breach of fiduciary duties arising from alleged violation of member's perquisite could not be brought directly against company where contractual agreement to provide the perquisite was issued by the managing members and not from the company.
Publication Date: 2021-01-27
Practice Area: Corporate Governance
Industry: Financial Services and Banking
Court: Court of Chancery
Judge: Vice Chancellor Glasscock
Attorneys: For plaintiff: Kevin H. Davenport, Samuel L. Closic, Jason W. Rigby, Prickett, Jones & Elliott, P.A., Wilmington, DE; Frank R. Schirripa, Daniel B. Rehns, Hach Rose Schirripa & Cheverie LLP, New York, NY for plaintiff.
for defendant: A. Thompson Bayliss, Joseph A. Sparco, Abrams & Bayliss LLP, Wilmington, DE; Scott P. Drake, Norton Rose Fulbright US LLP, Dallas, TX; Peter A. Stokes, Norton Rose Fulbright US LLP, Austin, TX for defend-ants.
Case Number: D69273
A company's directors failed to adequately address problems identified by federal regulators, but their conduct did not amount to bad faith.
Publication Date: 2021-01-20
Practice Area: Mergers and Acquisitions
Industry: Investments and Investment Advisory | Software
Court: Court of Chancery
Judge: Vice Chancellor Glasscock
Attorneys: For plaintiff: Rudolf Koch, Robert L. Burns, Megan E. O’Connor, Richards, Layton & Finger, P.A., Wilmington, DE; Adam Slutsky, Goodwin Procter LLP, Boston, MA for plaintiffs.
for defendant: William B. Chandler III, Ian R. Liston, Jessica A. Hartwell, Wilson Sonsini Goodrich & Rosati, P.C., Wilmington, DE; Mark A. Kirsch, Scott A. Edelman, Aric H. Wu, Laura K. O’Boyle, Peter Wade, Gibson, Dunn & Crutcher LLP, New York, NY; Lewis H. Lazarus Morris James LLP, Wilmington, DE; Peter N. Flocos, Joanna A. Diakos, K&L Gates LLP, New York, NY; David S. Eagle, Sean M. Brennecke, Klehr Harrison Harvey Branzburg LLP, Wilmington, DE; Michael K. Coran, William T. Hill, Monica Clarke Platt, Gregory R. Sellers, Klehr Harrison Harvey Branzburg LLP, Philadelphia, PA for defendants.
Case Number: D69263
Contractual fee shifting denied where plaintiffs prevailed on certain theories but recovery of minimal damages meant that neither side qualified as a "prevailing party" and equity did not warrant shifting of fees.
Publication Date: 2020-12-30
Practice Area: Corporate Governance
Industry: Financial Services and Banking | Investments and Investment Advisory
Court: Court of Chancery
Judge: Vice Chancellor Glasscock
Attorneys: For plaintiff: David A. Jenkins, Neal C. Belgam, Smith Katzenstein & Jenkins LLP, Wilmington, DE for plaintiff.
for defendant: Kenneth J. Nachbar, Zi-Xiang Shen, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Susan M. Han-nigan, Richards Layton & Finger, P.A., Wilmington, DE for defendants.
Case Number: D69242
A proxy statement involving an equity incentive plan did not contain materially deficient language, so the court granted defendants' motion to dismiss plaintiff's direct claim for breach of fiduciary duty.
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Publication Date: 2020-12-23
Practice Area: Fee Disputes
Industry: Biotechnology
Court: Court of Chancery
Judge: Vice Chancellor Glasscock
Attorneys: For plaintiff: Steven L. Caponi, Matthew B. Goeller, K&L Gates LLP, Wilmington, DE; Justin H. Roeber, Thomas A. Warns, K&L Gates LLP, New York, NY for petitioners.
for defendant: Richard P. Rollo, Kevin M. Gallagher, Travis S. Hunter, Angela Lam, Nicole M. Henry, Christian C.F. Rob-erts, Richards, Layton & Finger, P.A., Wilmington, DE for respondent.
Case Number: D69233
One of the petitioners had a valid advancement right against the company for litigation expenses relating to his status as a director of the company, but the other petitioner's basis for advancement was void.
Publication Date: 2020-12-02
Practice Area: Fee Disputes
Industry: E-Commerce
Court: Court of Chancery
Judge: Vice Chancellor Glasscock
Attorneys: For plaintiff: John M. Seaman, Abrams & Bayliss LLP, Wilmington, DE for plaintiffs.
for defendant: P. Clarkson Collins, Jr., Albert J. Carroll, Morris James LLP; Brian J. Capitummino, Woods Oviatt Gilman LLP, New York, NY for defendant.
Case Number: D69211
Pursuant to the terms of a written agreement, plaintiffs were entitled to advancement of litigation expenses even though the company dismissed the case prior to service of the complaint.
Publication Date: 2020-12-02
Practice Area: Corporate Governance
Industry: Investments and Investment Advisory
Court: Court of Chancery
Judge: Vice Chancellor Glasscock
Attorneys: For plaintiff: Marcus E. Montejo, Stephen D. Dargitz, Prickett, Jones & Elliott, P.A., Wilmington, DE; Chet B. Waldman, Adam J. Blander, Wolf Popper LLP, New York, NY for plaintiffs.
for defendant: Patricia L. Enerio, Elizabeth A. DeFelice, Heyman Enerio Gattuso & Hirzel LLP, Wilmington, DE; Tab K. Rosenfeld, Steven M. Kaplan, Nicole E. Meyer. Rosenfeld & Kaplan, LLP, New York, NY for defendants GPB Capital Holdings LLC and nominal defendants GPB Holdings II, LP and GPB Automotive Portfolio, LP. Jacob R. Kirkham, Kobre & Kim LLP, Wilmington, DE; William McGovern, Leif T. Simonson, Kobre & Kim LLP, New York, NY for defendant Gentile. Michael W. McDermott, Richard I.G. Jones, Jr., Berger Harris LLP, Wil-mington, DE; Jeffrey Schreiber, Richard J. Jancasz, Meister Seelig & Fein LLP, New York, NY for defendant Schneider. David A. Felice, Bailey & Glasser, LLP, Wilmington, DE; Kevin D. Galbraith, Law Office of Kevin Galbraith, LLC, New York, NY for defendant Lash.
Case Number: D69209
Plaintiffs adequately stated claims for breach of fiduciary duty as to the controller and general partner of two limited partnerships.
Publication Date: 2020-11-18
Practice Area: Corporate Governance
Industry: Energy | Investments and Investment Advisory
Court: Court of Chancery
Judge: Vice Chancellor Glasscock
Attorneys: For plaintiff: Ned Weinberger, Derrick Farrell, Mark Richardson, Labaton Sucharow LLP, Wilmington, DE; Peter B. Andrews, Craig J. Springer, Davis M. Sborz, Andrews & Springer LLC, Wilmington DE; Jeremy S. Friedman, David F.E. Tejtel, Friedman Oster & Tejtel PLLC, Bedford Hills, NY; Steven J. Purcell, Douglas E. Julie, Robert H. Lefkowitz, Kaitlyn T. Devenyns, Purcell Julie & Lefkowitz LLP, New York, NY for plaintiffs.
for defendant: Kevin G. Abrams, Eric A. Veres, Stephen C. Childs, Abrams & Bayliss LLP, Wilmington, DE; John A. Neuwirth, Stefania D. Venezia, Amanda K. Pooler, Weil, Gotshal & Manges LLP, New York, NY; Brian C. Ralston, Seth R. Tangman, Caneel Radinson-Blasucci, Potter Anderson & Corroon LLP, Wilmington, DE; Daniel M. Sullivan, Holwell Shuster & Goldberg LLP, New York, NY for defendants.
Case Number: D69192
Court declined to disregard precedent set forth in Gentile v. Rosette where present case involved, as it did in Gentile, a corporate controller's actions to cause the corporation to issue stock for insufficient consideration such that the controller could increase its stake in the company at the expense of the public minority stockholders, allowing those stockholders to pursue direct claims.
Publication Date: 2020-10-28
Practice Area: Election and Political Law
Industry: State and Local Government
Court: Court of Chancery
Judge: Vice Chancellor Glasscock
Attorneys: For plaintiff: David M. Fry, Shaw Keller LLP, Wilmington, DE; Karen Lantz, ACLU of Delaware, Wilmington, DE for plaintiffs.
for defendant: Aaron R. Goldstein, Ilona M. Kirshon, Allison J. McCowan, Frank N. Broujos, Delaware Department of Justice, Wilmington, DE; Max B. Walton, Matthew F. Boyer, Trisha W. Hall, Connolly Gallagher LLP, Wilmington, DE for defendant.
Case Number: D69168
Where Election Day deadline for receipt of mailed-in ballots was previously constitutional, and where alleged efforts by the U.S.
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