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Publication Date: 2024-07-16
Practice Area: Corporate Governance
Industry: Insurance | Investments and Investment Advisory
Court: Court of Chancery
Judge: Chancellor McCormick
Attorneys: For plaintiff: R. Bruce McNew, Cooch and Taylor, P.A., Wilmington, DE for plaintiff.
for defendant: Lisa M. Zwally, Bryan T. Reed, Greenberg Traurig, LLP, Wilmington, DE for defendants.
Case Number: 2020-0985-KSJM
Fiduciary claims allowed to proceed where majority of board's dual fiduciary role with parent and subsidiaries created a conflict of interest preventing consideration of litigation demand, and where plaintiff lacked inquiry notice until parent made public disclosures.
Publication Date: 2024-07-16
Practice Area: Mergers and Acquisitions
Industry: Construction | Investments and Investment Advisory
Court: Court of Chancery
Judge: Vice Chancellor Glasscock
Attorneys: For plaintiff: Martin S. Lessner, Tammy L. Mercer, Lauren Dunkle Fortunato, Andrew J. Cazerkawski, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; Johnathan D. Schiller, Thomas H. Sosnowski, Boies Schiller Flexner LLP, New York, NY for plaintiffs.
for defendant: Michael A. Barlow, Hayden J. Driscoll, Quinn Emanuel Urquhart & Sullivan, LLP, Wilmington, DE; Michael B. Carlinsky, Charles H. Sangree, Caitlin E. Jokubaitis, Quinn Emanuel Urquhart & Sullivan, LLP, New York, NY; Christopher D. Porter, Quinn Emanuel Urquhart & Sullivan, LLP, Houston, TX for defendants.
Case Number: 2024-0274-SG
Court declined to enjoin contractual alternative dispute resolution process where parties agreed to submit validity of post-closing cap-ex budget to independent consultant for expert review, where consultant was empowered to conduct independent analysis of company's financial records.
Publication Date: 2024-07-16
Practice Area: Mergers and Acquisitions
Industry: Chemicals and Materials | Investments and Investment Advisory
Court: Delaware Superior Court
Judge: Judge Adams
Attorneys: For plaintiff: Stamatios Stamoulis, Richard C. Weinblatt, Stamoulis & Weinblatt LLC, Wilmington, DE; Richard A. Schwartz, Ross LLP, Los Angeles, CA for plaintiff.
for defendant: John P. DiTomo, Alec F. Hoeschel, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Brian J. Massengill, Matthew E. Fenn, Mayer Brown LLP, Chicago, IL for defendant.
Case Number: N23C-08-206 MAA CCLD
Claims connected to the process of calculation and payment fell within scope of parties' limited arbitration clause covering the calculation of payment for acquired company following post-closing true-up.
Publication Date: 2024-07-16
Practice Area: Mergers and Acquisitions
Industry: Advertising | Software | Technology Media and Telecom
Court: Delaware Superior Court
Judge: Judge Adams
Attorneys: For plaintiff: Andrew D. Cordo, Andrew D. Berni, Joshua A. Manning, Wilson Sonsini Goodrich & Rosati, P.C., Wilmington, DE for plaintiff.
for defendant: Berton W. Ashman, Jr., Jesse L. Noa, Justin T. Hymes, Potter Anderson & Corroon LLP, Wilmington, DE; Michael J. Baratz, Patrick F. Linehan, Steptoe LLP, Washington, DC for defendants.
Case Number: N23C-04-021 MAA CCLD
Court granted judgment to enforce promissory note where affirmative defenses/counterclaims of fraud failed as plaintiff was not the principal of company officers who allegedly misrepresented company sales numbers.
Publication Date: 2024-07-16
Practice Area: Corporate Governance
Industry: Biotechnology | Chemicals and Materials | Software
Court: Court of Chancery
Judge: Vice Chancellor Cook
Attorneys: For plaintiff: Tiffany Geyer Lydon, Philip Trainer, Jr., Ashby & Geddes, P.A. Wilmington, DE; Lisa C. Solbakken, Arkin Solbakken LLP, New York, NY for plaintiff.
for defendant: Steven L. Becton, II, David J. Margules, Jessica C. Watt, Ballard Spahr LLP, Wilmington, DE for defendant.
Case Number: 2022-0876-NAC
Under the right-of-control test, plaintiff qualified as employee of defendant's subsidiary rather than defendant where subsidiary controlled plaintiff's compensation, determined the terms and conditions of his employment, and supervised his work.
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Publication Date: 2024-07-16
Practice Area: Election and Political Law
Industry: State and Local Government
Court: Delaware Supreme Court
Judge: Justice Traynor
Attorneys: For plaintiff: Kathleen Jennings, Attorney General of the State of Delaware, Alexander S. Mackler, Patricia A. Davis, Kenneth Wan, Delaware Department of Justice, Wilmington, DE; Donald B. Verrilli, Jr., Ginger D. Anders, Munger, Tolles & Olson LLP, Washington, DC for appellants.
for defendant: M. Jane Brady, Brady Legal Group LLC, Lewes, DE; Noel H. Johnson, Public Interest Legal Foundation, Alexandria, VA for appellees.
Case Number: 120, 2024
Plaintiffs lacked standing to challenge voting procedures where one was not a candidate in the upcoming election cycle and the other's role as inspector of elections did not implicate the challenged procedures.
Publication Date: 2024-07-09
Practice Area: Labor Law
Industry: Food and Beverage | Manufacturing
Court: Delaware Supreme Court
Judge: Justice Valihura
Attorneys: For plaintiff: Walt F. Schmittinger, Schmittinger and Rodriguez, P.A., Dover, DE for appellant.
for defendant: Andrea C. Panico, Megan E. Murray, Tybout, Redfearn & Pell, Wilmington, DE for appellee.
Case Number: 412, 2023
COVID-19 was not an occupational disease where the risk of getting sick was not a peculiar risk of the worker's employment or work environment but rather was a general risk faced by all workers.
Publication Date: 2024-07-09
Practice Area: Mergers and Acquisitions
Industry: Investments and Investment Advisory | Software
Court: Court of Chancery
Judge: Vice Chancellor Cook
Attorneys: For plaintiff: Gregory V. Varallo, Andrew E. Blumberg, Daniel E. Meyer, Bernstein Litowitz Berger & Grossman LLP, Wilmington, DE; Ned Weinberger, Mark Richardson, Labaton Keller Sucharow LLP, Wilmington, DE; David Schwartz, John Vielandi, Labaton Keller Sucharow, New York, NY; Aaron T. Morris, Leonid Kandinov, Andrew W. Robertson, Morris Kandinov LLP, New York, NY for plaintiffs.
for defendant: Edward B. Micheletti, Sarah R. Martin, Ryan M. Lindsay, Lauren M. Griffith, Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington, DE for defendants.
Case Number: 2022-1073-NAC
Court dismissed former stockholder's fiduciary duty claim arising from breach of merger agreement leading to reduced merger consideration where the reduced price still provided a premium over the stock price and the stockholders approved the merger in an informed vote.
Publication Date: 2024-07-09
Practice Area: Insurance Law
Industry: Insurance
Court: Delaware Superior Court
Judge: Judge Rennie
Attorneys: For plaintiff: Jennifer C. Wasson, Carla M. Jones, Ryan D. Kingshill, Potter Anderson & Corroon LLP, Wilmington, DE; Brook Roberts, Drew Gardiner, Christine Rolph, James Tabb, Jessica England, Paula Moura, Latham & Watkins LLP, San Diego, CA & New York, NY for plaintiff.
for defendant: Bruce E. Jameson, John G. Day, Prickett, Jones & Elliott, P.A., Wilmington, DE; Tammy Yuen, Rebecca Amdursky, Amber Locklear, Skarzynski Marick & Black LLP, New York, NY; Marc S. Casarino, Karine Sarkisian, Gary S. Kull, Kennedys CMK LLP, Wilmington, DE & Basking Ridge, NJ for defendants.
Case Number: N23C-03-009 SKR CCLD
Court denied motion to compel discovery to the extent that discovery requests sought documents irrelevant to the case or communications protected by attorney-client privilege.
Publication Date: 2024-07-09
Practice Area: Mergers and Acquisitions
Industry: Investments and Investment Advisory | Software | Technology Media and Telecom
Court: Delaware Superior Court
Judge: Judge Adams
Attorneys: For plaintiff: Elena C. Norman, Daniel M. Kirshenbaum, Michael A. Laukaitis, II, Young, Conaway, Stargatt, and Taylor LLP, Wilmington, DE; Michael S. Shuster, Vincent Levy, Holwell Shuster & Goldberg LLP, New York, NY for plaintiffs.
for defendant: Kevin R. Shannon, Potter Anderson & Corroon LLP, Wilmington, DE; Kevin B. Huff, Kellogg, Hansen, Todd, Figel & Frederick, P.L.L.C., Washington, DC; Michael Kendall, White & Case LLP, Boston, MA for defendants.
Case Number: N23C-10-212 MAA CCLD
Court declined to dismiss fraud claims in connection with stock purchase agreement where buyer adequately pled that defendant controllers were in a position to know of the fraudulent nature of seller's financials and where the company's alleged unlawful bookkeeping practices violated representations and warranties in the SPA.
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