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  • Akrout v. Jarkoy

    Publication Date: 2018-07-25
    Practice Area: Corporate Governance
    Industry:
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: David L. Finger, Finger & Slanina, Wilmington, DE, attorney for plaintiff
    for defendant: Kenneth J. Nachbar and Alexandra M. Cumings, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Steven G. Mintz and Kevin M. Brown, Mintz & Gold LLP, New York, NY, attorneys for defendant.
    Case Number: D68222

    Fiduciary duty claims against co-founders/co-directors barred by doctrine of laches where plaintiff stopped receiving company information and failed to receive accrued salary and dividends after being removed from office nearly nine years prior to instituting complaint.

  • Wenske v. Blue Bell Creameries, Inc.

    Publication Date: 2018-07-18
    Practice Area: Corporate Governance
    Industry: Food and Beverage
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Jessica Zeldin and Scott G. Burdine for plaintiffs
    for defendant: Timothy R. Dudderar and Travis R. Dunkelberger for Blue Bell Creameries, Inc. and Blue Bell Creameries, U.S.A; Jim E. Kruse, Howard W. Kruse, Richard Dickson, William J. Rankin, Diana Markwardt, John W. Barnhill, Jr., Paul A. Ehlert, Doro-thy McLeod MacInerney and Patricia Ryan for Blue Bell Creameries, L.P.; Srinivas M. Raju and Kelly L. Freund for individual defendants.
    Case Number: D68221

    Limited partners stated a claim for breach of the partnership agreement by the entity that was responsible for overseeing the company's operations, and pre-suit demand was excused.

  • In re Bay Hills Emerging Partners I, L.P.

    Publication Date: 2018-07-18
    Practice Area: Civil Procedure | Contractual Disputes
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: A. Thompson Bayliss, E. Wade Houston, James C. Rutten, Erin J. Cox, Kevin M. Gallagher and Mark C. Goodman for plaintiffs
    for defendant: Brett D. Fallon, Patricia A. Winston, Travis J. Ferguson, Mark A. Cameli, Ryan S. Stippich and Brent A. Simerson for defend-ants.
    Case Number: D68217

    Limited partnership agreements contained forum selection causes which were permissive rather than mandatory, so the court denied defendants' motion to dismiss.

  • Certisign Holding, Inc. v. Kulikovsky

    Publication Date: 2018-06-20
    Practice Area: Corporate Governance
    Industry: Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Michael A. Pittenger, Jaclyn C. Levy, Jay G. Stirling, and Tyson J. Prisbrey, Potter Anderson & Corroon LLP, Wilmington, DE, attorneys for plaintiff
    for defendant: David J. Margules, Elizabeth A. Sloan, and Suzanne O. Lufadeju, Ballard Spahr LLP, Wilmington, DE; William B. Igoe, Ballard Spahr LLP, Philadelphia, PA, attorneys for defendant.
    Case Number: D68182

    Directors' demand for transfer of stock ownership and repayment of personal loan in exchange for agreeing to ratify defective corporate acts constituted breach of fiduciary duty of loyalty.

  • Edinburgh Holdings, Inc. v. Educ. Affiliates, Inc.

    Publication Date: 2018-06-20
    Practice Area: Contracts | Mergers and Acquisitions
    Industry: Education
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Ryan P. Newell and Kyle Evans Gay, Connolly Gallagher LLP, Wilmington, DE; Lee M. Whitman and Samuel A. Slater, Wyrick Robbins Yates & Ponton LLP, Raleigh, NC, attorneys for plaintiff
    for defendant: Douglas D. Herrmann and Christopher B. Chuff, Pepper Hamilton LLP, Wilmington, DE, attorneys for defendants.
    Case Number: D68183

    Breach of implied covenant of good faith and fair dealing, fraudulent inducement, and breach of fiduciary duty claims dismissed as improperly duplicative of breach of contract claim where alleged implied covenants, fiduciary duties, and fraudulent inducement solely involved opposing party's contractual obligations.

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    District of Columbia Legal Malpractice Law 2024

    Authors: Shari L. Klevens, Alanna G. Clair

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  • In re Tesla Motors, Inc. Stockholders Litig.

    Publication Date: 2018-04-11
    Practice Area: Corporate Governance | Mergers and Acquisitions
    Industry: Automotive | Energy | Manufacturing
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Jay W. Eisenhofer, James J. Sabella, Michael Hanrahan, Paul A. Fioravanti, Jr., Samuel L. Closic, Ned Weinberger, Ryan T. Keating, Thomas, Curry, Joel Friedlander, Jeffrey M. Gorris, Justin S. Brooks, Randall J. Baron, David T. Wissbroecker, Maxwell R. Huffman, Lee D. Rudy, Eric L. Zagar, Robin Win-chester, Kristen L. Ross, Mark Lebovitch and Jeroen van Kwawegen for plaintiffs
    for defendant: David E. Ross, Garrett B. Moritz, Benjamin Z. Grossberg, William Savitt, Graham W. Meli, Steven Winter and David E. Kirk for defendants.
    Case Number: D68107

    Plaintiffs in this derivative action alleged sufficient facts to show that a minority stockholder was actually a controlling stockholder due to the amount of influence he had over the company and the board.

  • The Ravenswood Inv. Co., L.P. v. Estate of Winmill

    Publication Date: 2018-04-04
    Practice Area: Corporate Governance
    Industry:
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: R. Bruce McNew and Scott B. Czerwonka for plaintiff
    for defendant: David A. Jenkins and Kelly S. Green for defendants.
    Case Number: D68100

    Defendants breached their fiduciary duties in granting themselves compensation by means of an unfair process, but plaintiff did not establish the right to any remedy besides nominal damages.

  • In re Rouse Prop. Inc., Fiduciary Litig.,

    Publication Date: 2018-03-21
    Practice Area: Corporate Governance | Mergers and Acquisitions
    Industry: Real Estate
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Stuart M. Grant, Cynthia A. Calder, Nathan A. Cook, and Michael T. Manuel, Grant & Eisenhofer P.A., Wilmington, DE; Jason M. Leviton and Bradley Vettraino, Block & Leviton LLP, Boston, MA, attorneys for plaintiffs;
    for defendant: Stephen C. Norman, Kevin R. Shannon, and Jaclyn C. Levin, Potter Anderson & Corroon LLP, Wilmington, DE; Andrew W. Stern, Jon W. Muenz, and Leah R. Milbauer, Sidley Austin LLP, New York, NY; Kevin G. Abrams, Daniel R. Ciarrocki, Matthew L. Miller, Abrams & Bayliss, LLP, Wilmington, DE; John A. Neuwirth, Seth Goodchild, Evert J. Christensen, Matthew S. Connors, Weil, Gotshal & Manges LLP, New York, NY, attorneys for defendants.
    Case Number: D68080

    Stockholders breach of fiduciary duty claims arising from merger transaction with alleged controlling minority stockholder brought against board and alleged controller failed where allegations insufficient to find that alleged controller exerted control or dominance over board or directors or special committee designated to negotiate merger.

  • KT4 Partners LLC v. Palantir Tech., Inc.

    Publication Date: 2018-03-07
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Software
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Bartholomew J. Dalton, Andrew C. Dalton, Barry S. Simon and Jonathan B. Pitt for plaintiff
    for defendant: Blake Rohrbacher, Kevin M. Gallagher, Kelly L. Freund, Kevin J. Orsini and Rory A. Leraris for defend-ant.
    Case Number: D68069

    A shareholder was not entitled to inspect corporate books or records where no valuation purpose was stated in the request, but the court found that the shareholder established a credible basis for obtaining records for an investigative purpose.

  • Cumming v. Edens

    Publication Date: 2018-03-07
    Practice Area: Corporate Governance | Mergers and Acquisitions
    Industry: Health Care
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Jeffrey Gorris, Christopher Foulds, and Christopher Quinn, Friedlander & Gorris P.A., Wilmington, DE; David Wales, David MacIssac, and John Vielandi, Bernstein Litowtiz Berger & Grossman LLP, New York, NY; Adam Warden, Saxena White P.A., Boca Raton, FL; Steven B. Singer and Joshua H. Saltzman, Saxena White P.A., White Plains, NY; J. Elazar Fruchter, Wohl & Fruchter LLP, New York, NY, attorneys for plaintiff
    for defendant: Robert S. Saunders, Ronald N. Brown, III, Sarah R. Martin, and Elisa M.C. Klein, Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington, DE, attorneys for defendants.
    Case Number: D68064

    Derivative complaint not dismissed where plaintiff pled facts of directors conflicts of interest with corporation on the other side of the challenged transaction supporting a reasonable doubt as to whether board was disinterested or independent, which constituted a non-exculpated claim.