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Publication Date: 2024-08-20
Practice Area: Corporate Entities
Industry: Real Estate
Court: Court of Chancery
Judge: Vice Chancellor Will
Attorneys: For plaintiff: Frank E. Noyes, II, Offit Kurman, P.A., Wilmington, DE for plaintiff.
for defendant: David L. Konick, Washington, VA for defendants.
Case Number: 2022-1036-LWW
Court's readjustment of LLC ownership percentages did not affect the deadlock analysis where the LLC agreement required a two-thirds interest vote or unanimous consent.
Publication Date: 2024-08-20
Practice Area: Corporate Governance
Industry: Consulting | Food and Beverage | Investments and Investment Advisory | Manufacturing
Court: Court of Chancery
Judge: Vice Chancellor Will
Attorneys: For plaintiff: Joel Friedlander, Jeffrey M. Gorris, Christopher M. Foulds, Friedlander & Gorris, P.A., Wilmington, DE; Lawrence P. Eagel, Melissa Fortunato, Marion C. Passmore, Brandon Walker, Bragar Eagel & Squire, P.C., New York, NY for plaintiff.
for defendant: Matthew D. Stachel, Paul, Weiss, Rifkind, Wharton & Garrison LLP, Wilmington, DE; Daniel J. Kramer, Andrew J. Ehrlich, Robert N. Kravitz, Paul, Weiss, Rifkind, Wharton & Garrison LLP, New York, NY; Michael A. Pittenger, Jacqueline A. Rogers, Caneel Radinson-Blasucci, Camilia R. Katkocin, Potter Anderson & Corroon LLP, Wilmington, DE; Sandra C. Goldstein, Stefan Atkinson, Kevin M. Neylan, Jr., Kirkland & Ellis LLP, New York, NY for defendants.
Case Number: 2023-1191-LWW
Court denied relief from dismissed action where "newly discovered evidence" was available to plaintiff long before it filed its initial derivative complaint.
Publication Date: 2024-08-06
Practice Area: Corporate Governance
Industry: Food and Beverage | Investments and Investment Advisory | Manufacturing
Court: Court of Chancery
Judge: Vice Chancellor Will
Attorneys: For plaintiff: Carmella P. Keener, Cooch & Taylor, P.A., Wilmington, DE; P. Bradford deLeeuw, deLeeuw Law LLC, Wilmington, DE; Benjamin Kaufman & Patrick Donovan, Wolf Haldenstein Freeman & Herz LLP, New York, NY; Michael Hynes, Ligaya Hernandez, Hynes & Hernandez LLC, Malvern, PA; Robert C. Schubert, Willem F. Jonckheer, Schubert Jonckheer & Kolbe LLP, San Francisco, CA; Richard D. Greenfield, Marguerite R. Goodman, Ann M. Caldweel, Greenfield & Goodman LLC, Philadelphia, PA; Fred T. Isquith, Sr., Isquith Law PLLC, New York, NY for plaintiffs.
for defendant: Matthew D. Stachel, Paul, Weiss, Rifkind, Wharton & Garrison LLP, Wilmington, DE; Daniel J. Kramer, Andrew J. Ehrlich, William A. Clareman, Paul, Weiss, Rifkind, Wharton & Garrison LLP, New York, NY; Michael A. Pittenger, Jacqueline A. Rogers, Caneel Radinson-Blasucci, Potter Anderson & Corroon LLP, Wilmington, DE; Sandra C. Goldstein, Stefan Atkinson, Kevin M. Neylan, Jr., Kirkland & Ellis LLP, New York, NY for defendants.
Case Number: 2022-0398-LWW
Court dismissed derivative complaint following rejected litigation demand where plaintiff stockholders had alleged no facts demonstrating errors or improprieties in the efforts of the working group formed to investigate plaintiffs' litigation demands.
Publication Date: 2024-07-23
Practice Area: Corporate Entities
Industry: Legal Services | Real Estate
Court: Court of Chancery
Judge: Vice Chancellor Will
Attorneys: For plaintiff: Frank E. Noyes, Offit Kurman, P.A., Wilmington, Delaware for plaintiff;
for defendant: David Konick, pro se defendant.
Case Number: 2022-1036-LWW
Court ordered judicial dissolution of LLC formed to hold vacation property after the end of the parties' romantic relationship rendered carrying on the LLC's "business" impractical.
Publication Date: 2024-07-23
Practice Area: Corporate Governance
Industry: Investments and Investment Advisory | Mining and Resources
Court: Court of Chancery
Judge: Vice Chancellor Will
Attorneys: For plaintiff: Theodore A. Kittila, William E. Green, Jr., Halloran Farkas + Kittila LLP, Wilmington, DE; Brian Tuttle, pro se plaintiff;
for defendant: Jordan Darga, pro se plaintiff for plaintiffs. Stephen C. Norman, Jaclyn C. Levy, Potter Anderson & Corroon LLP, Wilmington, DE for defendants.
Case Number: 2022-0957-LWW
Court found plaintiffs to be inadequate class representatives because they either simultaneously pursued individual claims that created a conflict of interest or because they were pro se litigants unqualified to represent a class.
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Publication Date: 2024-07-02
Practice Area: Damages
Industry: Investments and Investment Advisory | Software
Court: Court of Chancery
Judge: Vice Chancellor Will
Attorneys: For plaintiff: David H. Holloway, Shlansky Law Group, LLP, Wilmington, DE; Christine M. Mackintosh, Esquire Grant & Eisenhofer P.A. Wilmington, DE for plaintiff.
for defendant: Jody C. Barillare, Amy M. Dudash, Wilmington, DE for defendant.
Case Number: 2017-0346-LWW
Court declined to award pre-judgment/pre-trial interest on rescissory damages as judgment creditor was not deprived of its funds and defendant was being ordered to disgorge the benefits he accrued by usurping creditor's corporate opportunities.
Publication Date: 2024-06-18
Practice Area: Corporate Governance
Industry: Investments and Investment Advisory | Technology Media and Telecom
Court: Court of Chancery
Judge: Vice Chancellor Will
Attorneys: For plaintiff: David L. Finger, Finger & Slanina, LLC, Wilmington, DE for plaintiffs.
for defendant: Matthew D. Perri, Daniel E. Kaprow, Elizabeth J. Freud, Alfred P. Dillione, Rae Ra, Richards, Layton & Finger, P.A., Wilmington, DE for defendant.
Case Number: 2024-0311-LWW
Court ordered a bond due to the potential for defendant suffering financial losses in connection with a status quo order that restricted defendant from transferring securities it was set to receive.
Publication Date: 2024-06-18
Practice Area: Mergers and Acquisitions
Industry: Automotive | Investments and Investment Advisory
Court: Court of Chancery
Judge: Vice Chancellor Will
Attorneys: For plaintiff: P. Bradford deLeeuw, deLeeuw Law LLC, Wilmington, DE; Robert C. Schubert, Willem F. Jonckheer, Schubert Jonckheer & Kolbe LLP, San Francisco, CA for plaintiff.
for defendant: Kevin R. Shannon, Christopher N. Kelly, Daniel M. Rusk IV, Potter Anderson & Corroon LLP, Wilmington, DE; James W. Ducayet, Heather Benzmiller Sultanian, Thomas H. Collier, Sidley Austin LLP, Chicago, IL for defendants.
Case Number: 2022-0571-LWW
Breach of fiduciary duty claims arising from de-SPAC transaction dismissed where claims were based on post-merger developments and thus there was no evidence that defendants failed to disclose material information to public stockholders considering redemption or investment.
Publication Date: 2024-06-11
Practice Area: Damages
Industry: Technology Media and Telecom
Court: Court of Chancery
Judge: Vice Chancellor Will
Attorneys: For plaintiff: Joseph L. Christensen, Meghan M. Dougherty, Michael D. Bell, Christensen & Dougherty LLP, Wilmington, DE; Edward D. Totino, Benjamin W. Turner, Baker McKenzie LLP, Los Angeles, CA; Conal Doyle, Doyle Law APC, Beverly Hills, CA for plaintiff.
for defendant: Robert L. Burns, Kyle H. Lachmund, Nicole M. Henry, Richards, Layton & Finger, P.A., Wilmington, DE; Jennifer Selendy, Joshua S. Margolin, David A. Coon, Selendy Gay PLLC, New York, NY for defendants.
Case Number: 2021-0595-LWW
Court rejected use of highest intermediate price method to calculate former employee's losses from improperly applied lockup where there was an adequate record to calculate the average stock price over a reasonable trading period.
Publication Date: 2024-04-29
Practice Area: Corporate Governance
Industry: Investments and Investment Advisory
Court: Court of Chancery
Judge: Vice Chancellor Will
Attorneys: For plaintiff: Brian C. Ralston, T. Brad Davey, Charles P. Wood, Abraham C. Schneider, Potter Anderson & Corroon LLP, Wilmington, DE; Douglas P. Baumstein, Ellen Shapiro, Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C., New York, NY for plaintiffs.
for defendant: Blake Rohrbacher, Mari Boyle, Morgan R. Harrison, Richards, Layton & Finger, P.A., Wilmington, DE; Anthony M. Candido, Clifford Chance US LLP, New York, NY for defendants.
Case Number: 2023-0948-LWW MEMORANDUM OPINION Date Submitted:
Plaintiff's removal as an employee and manager of LLCs was ineffective where the operating agreements established payment of the fair market value of plaintiff's revenue share as a condition precedent to removal.
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