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Publication Date: 2019-06-12
Practice Area: Corporate Entities
Industry: Investments and Investment Advisory
Court: Court of Chancery
Judge: Vice Chancellor Slights
Attorneys: For plaintiff: Joseph H. Huston, Jr. and Stacey A. Scrivani, Stevens & Lee, P.C., Wilmington, DE; Todd C. Toral and AnnaMarie A. VanHoesen, Jenner & Block LLP, Los Angeles, CA for plaintiff.
for defendant: Jeffrey M. Gorris and Christopher P. Quinn, Friedlander & Gorris, P.A., Wilmington, DE; J. Noah Hagey and Taylor Altman, Braunhagey & Borden LLP, New York, NY for defendants.
Case Number: D68593
A former limited partner no longer had standing to request books and records, because his interest in the company was fully redeemed at the time of the request.
Publication Date: 2019-05-15
Practice Area: Corporate Entities | Trusts and Estates
Industry: Health Care | Insurance
Court: Court of Chancery
Judge: Vice Chancellor Zurn
Attorneys: For plaintiff: Kathleen Coyne, pro se plaintiff.
for defendant: Josiah R. Wolcott, Connolly Gallagher LLP, Wilmington, DE for defendants.
Case Number: D68558
Dismissal of deceased LLC member's spouse's claim for proceeds of company-purchased life insurance policy not dismissed where LLC agreement did not terminate upon dissolution, when dissolution reasonably required member vote.
Publication Date: 2019-05-15
Practice Area: Corporate Entities
Industry: Real Estate
Court: Court of Chancery
Judge: Vice Chancellor Montgomery-Reeves
Attorneys: For plaintiff: Patricia L. Enerio and Jamie L. Brown, Heyman Enerio Gattuso & Hirzel LLP, Wilmington, DE for plaintiff.
for defendant: Thad J. Bracegirdle and Scott B. Czerwonka, Wilks Lukoff and Bracegirdle, LLC, Wilmington, DE; Adam K. Derman and Brian P. O'Neill, Chiesa Shahinian & Giantomasi PC, West Orange, NJ for defendant.
Case Number: D68562
A member of a limited liability company was functioning in its official capacity, so it was entitled to advancement and fees-on-fees under the terms of the operating agreement.
Publication Date: 2019-05-15
Practice Area: Corporate Entities
Industry: Consulting
Court: Court of Chancery
Judge: Vice Chancellor Glasscock
Attorneys: For plaintiff: David A. Jenkins and Laurence V. Cronin, Smith Katzenstein & Jenkins LLP, Wilmington, DE for plaintiffs.
for defendant: Bruce E. Jameson and Eric J. Juray, Prickett, Jones & Elliott, P.A., Wilmington, DE; Robert M. Cary, Alexander S. Zolan and Robert M. Belden, Williams & Connolly LLP, Washington, DC for defendants.
Case Number: D68564
The withdrawing member of a limited liability company was entitled to half the value of the company as of the date of with-drawal, less the amount he owed on his capital account.
Publication Date: 2019-05-08
Practice Area: Corporate Entities
Industry: Technology Media and Telecom
Court: Court of Chancery
Judge: Vice Chancellor Slights
Attorneys: For plaintiff: Michael A. Weidinger and Joanne P. Pinckney, Pinckney, Weidinger, Urban & Joyce LLC, Wilmington, DE for plaintiff.
for defendant: William M. Lafferty, Susan W. Waesco, and Sabrina M. Hendershot, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Bruce C. Doeg, John S. Hicks, and Christopher E. Thorsen, Baker, Donelson, Bearman, Caldwell & Berkowitz, PC, Nashville, TN for defendants.
Case Number: D68552
Claim to company equity dismissed pursuant to laches where company repeatedly provided plaintiff over an 11-year period with documentation explicitly demonstrating that company did not acknowledge plaintiff's ownership of the equity at issue.
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Publication Date: 2019-04-10
Practice Area: Corporate Entities | Dispute Resolution
Industry: Pharmaceuticals
Court: Court of Chancery
Judge: Vice Chancellor Glasscock
Attorneys: For plaintiff: Michael W. McDermott and David B. Anthony, Berger Harris LLP, Wilmington, DE; Benjamin C. Curcio, Paul F. Campano, Jessica A. Tracy, Michael D. Zahler, and Jason S. Haller Curcio Mirzaian Sirot LLC, Roseland, NJ for plaintiffs.
for defendant: Garrett B. Moritz and Bejamin Z. Grossberg, Ross Aronstam & Moritz LLP, Wilmington, DE; Andrew E. Anselmi and Zachary D. Wellbrock, McCusker, Anselmi, Rosen & Carvelli, P.C., Florham Park, NJ; Samuel T. Hirzel, II and Aaron M. Nelson, Heyman Enerio Gattuso & Hirzel LLP, Wilmington, DE; Andrew D. Cordo and F. Troupe Mickler IV, Ashby & Geddes, Wilmington, DE; Jody C. Barillare, Morgan, Lewis & Bockius LLP, Wilmington, DE; Brian A. Herman, Morgan, Lewis & Bockius LLP, New York, NY; Ryan P. Newell and Lauren P. DeLuca, Connolly Gallagher, LLP, Wilmington, DE; Phillip A. Rovner and Jonathan A. Choa, Potter Anderson & Corroon LLP, Wilmington, DE for defendants.
Case Number: D68518
Claims for breach of restrictive covenants were stayed pending arbitration on the issue of arbitrability given the broad scope of the covenants' arbitration clauses, but dismissed where the court lacked jurisdiction over defendants who did not qualify as a "manager" of the domestic LLC.
Publication Date: 2019-04-03
Practice Area: Corporate Entities
Industry: Real Estate
Court: Court of Chancery
Judge: Vice Chancellor Glasscock
Attorneys: For plaintiff: C. Barr Flinn, Emily V. Burton, and Daniel Kirshenbaum, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; Michael J. Bowe, Alexander B. Simkin, and John A. Dunn, Kasowitz Benson Torres LLP, New York, NY for plaintiff.
for defendant: Ryan P. Newell, Kyle Evans Gay, and Shaun Michael Kelly, Connolly Gallagher LLP, Wilmington, DE; Stan Chelney and Philipp Smaylovsky, Chelney Law Group PLLC, New York, NY for defendants.
Case Number: D68512
Reformation of LLCs agreements denied where there was no clear and convincing evidence the language of the agreements failed to reflect the members' true intent or that the non-moving party knew the agreements failed to reflect the parties' intent and failed to inform his fellow members.
Publication Date: 2019-02-13
Practice Area: Corporate Entities
Industry: Investments and Investment Advisory | Technology Media and Telecom
Court: Delaware Supreme Court
Judge: Justice Strine
Attorneys: For plaintiff: Bartholomew J. Dalton and Michael C. Dalton, Dalton & Assoc., P.A., Wilmington, DE; Barry S. Simon, Jonathan B. Pitt and Stephen L. Wohlgemuth, Williams & Connolly LLP, Washington, DC for plaintiff.
for defendant: Blake Rohrbacher, Kevin M. Gallagher and Kelly L. Freund, Richards, Layton & Finger, P.A., Wilming-ton, DE; Kevin J. Orsini and Rory A. Leraris, Cravath, Swaine & Moore LLP, New York, NY for defendant.
Case Number: D68458
The chancery court abused its discretion in refusing to allow a shareholder to inspect emails under a §220 books and records, request, because the corporation did not have any formal documents relating to the amend-ment of an investors' rights agreement.
Publication Date: 2019-02-13
Practice Area: Contractual Disputes | Corporate Entities | Insurance Litigation
Industry: Insurance | Technology Media and Telecom
Court: Delaware Superior Court
Judge: Judge Wallace
Attorneys: For plaintiff: Brian M. Rostocki and Benjamin P. Chapple, Reed Smith LLP, Wilmington, DE, and Robin L. Cohen and Keith McKenna, McKool Smith, P.C., New York, NY for plaintiffs.
for defendant: John C. Phillips, Jr. and David A. Bilson, Phillips, Goldman, McLaughlin & Hall, P.A., Wilmington, DE; Alexander R. Karam and Addison Draper, Clyde & Co US LLP, Washington, DC; Henry duPont Ridgely, John L. Reed, and Ethan H. Townsend, DLA Piper LLP, Wilmington, DE; Joseph G. Finnerty III, Megan Shea Harwick, and Eric S. Connuck, DLA Piper, LLP, New York, NY; Timothy Jay Houseal and Jennifer M. Kinkus, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; and Charles C. Lemley, Wiley Rein LLP, Washington, DC for defendants.
Case Number: D68455
Insurers were granted partial summary judgment on insureds' declaratory judgment action for defense costs, where underlying action alleged individual defendant committed wrongful acts within scope of official capacity, but did not constitute securities claim because it was brought by shareholders of separate spin-off company.
Publication Date: 2019-02-13
Practice Area: Corporate Entities | Environmental Law
Industry: Energy | Investments and Investment Advisory
Court: Court of Chancery
Judge: Vice Chancellor Montgomery-Reeves
Attorneys: For plaintiff: Theodore A. Kittila, Halloran Farkas & Kittila LLP, Wilmington, DE; Gregory M. Nespole and Correy A. Kamin, Wolf HaldensteinAdler Freeman & Herz LLP, New York, NY for plaintiff.
for defendant: Srinivas M. Raju and Matthew W. Murphy, Richards, Layton & Finger, P.A., Wilmington, DE; Michael C. Holmes, Craig E. Zieminski, Kimberly R. McCoy, and Jeffrey Crough, Vinson & Elkins LLP, Dallas, TX for defendants.
Case Number: D68456
Derivative complaint dismissed for failure to make demand, where demand would not be futile as a majority of directors were disinterested and independent as nominal defendant's partnership agreement eliminated the directors' personal liability.
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