• Pearce v. NeueHealth, Inc.

    Publication Date: 2024-07-30
    Practice Area: Mergers and Acquisitions
    Industry: Health Care | Investments and Investment Advisory
    Court: Delaware Superior Court
    Judge: Judge Rennie
    Attorneys: For plaintiff: Carmella P. Keener, Cooch and Taylor, P.A., Wilmington, DE; David W. Asp, Joseph C. Bourne, R. David Hahn, Lockridge Grindal Nauen P.L.L.P., Minneapolis, MN; Anne T. Regan, Nathan D. Prosser, Hellmuth & Johnson PLLC, Edina, MN for plaintiffs.
    for defendant: Emily V. Burton, Cheol W. Park, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; Jan M. Conlin, Heather M. McElroy, Patrick A. Cochran, Ciresi Conlin LLP, Minneapolis, MN for defendant.

    Case Number: N23C-09-005 SKR CCLD

    Forward-looking projection could constitute actionable fraud where plaintiffs adequately alleged that the projection was a complete fabrication as defendants lacked the data necessary to calculate a reasonable projection and thus likely fabricated the figures underpinning the projection.

  • Westlake Pipe & Fittings Corp. v. Geon Performance Solutions, LLC

    Publication Date: 2024-07-30
    Practice Area: Contracts
    Industry: Chemicals and Materials | Manufacturing
    Court: Delaware Superior Court
    Judge: Judge Davis
    Attorneys: For plaintiff: Stephen B. Brauerman, Emily L. Skaug, Bayard, P.A., Wilmington, DE for plaintiff.
    for defendant: Joelle E. Polesky, Stradley Ronon Stevens & Young, LLP, Wilmington, DE; Patrick K. Kingsley, Stradley Ronon Stevens & Young, LLP, Philadelphia, PA for defendant.

    Case Number: N23C-08-096 EMD CCLD

    Express terms of parties' supply agreement released supplier from having to honor rates under the agreement after its termination, and the agreement merely allowed purchaser to apply credits it had earned to future contracts negotiated between the parties.

  • B.E. Capital Mgmt. Fund LP v. Fund.com Inc.

    Publication Date: 2024-07-30
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: E. Wade Houston, Abrams & Bayliss LLP, Wilmington, DE, special magistrate;
    for defendant: Richard I.G. Jones, Jr., Harry W. Shenton, IV, Zachary J. Schnapp, Berger McDermott LLP, Wilmington, DE, attorneys for receiver.

    Case Number: 12843-VCL

    Court overruled receiver's objections to special magistrate's report on allegations of wrongdoing by receiver where the recommendations did not violate receiver's constitutional rights by remarking on receiver's invocation of Fifth Amendment privilege in a context that would not result in self-incrimination and did not recommend that receiver be convicted of a crime.

  • Bricklayers Pension Fund of W. Pennsylvania v. Brinkley

    Publication Date: 2024-07-30
    Practice Area: Corporate Governance
    Industry: Health Care | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Zurn
    Attorneys: For plaintiff: Mark Richardson, Labaton Sucharow LLP, Wilmington, DE; Nathaniel L. Orenstein, Steven L. Groopman, Berman Tabacco, Boston, MA for plaintiff.
    for defendant: Raymond J. DiCamillo, Kevin M. Gallagher, Spencer V. Crawford, Richards, Layton & Finger, P.A., Wilmington, DE; Glenn Kurtz, Andrew Hammond, White & Case LLP, New York, NY; Paul J. Lockwood, Lauren N. Rosenello, Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington, DE for defendants.

    Case Number: 2022-1118-MTZ

    Court dismissed derivative complaint where stockholder failed to show that a majority of the board faced personal liability for willfully ignoring deficiencies in corporate oversight systems or signs the company faced a strong likelihood of corporate trauma.

  • McMillan v. Nelson

    Publication Date: 2024-07-23
    Practice Area: Corporate Governance
    Industry: Entertainment and Leisure
    Court: Court of Chancery
    Judge: Chancellor McCormick
    Attorneys: For plaintiff: Thomas W. Briggs, Jr., Tarik J. Haskins, Elizabeth A. Mullin Stoffer, Jacob M. Perrone, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Alan I. Silver, Tal A. Bakke, Bassford Remele, P.A., Minneapolis, MN for plaintiffs.
    for defendant: Alexandra D. Rogin, Paul S. Seward, Eckert Seamans Cherin & Mellott, LLC, Wilmington, DE; Stephen A. Ling, Karen D. Olson, Spencer Fane LLP, Minneapolis, MN; Courtney L. Creal, Spencer Fane LLP, Nashville, TN for defendants.

    Case Number: 2024-0016-KSJM

    Court granted managing members summary judgment on claim to invalidate purported amended LLC agreement where prior version of agreement expressly excluded non-managing members from taking unilateral actions on behalf of the company or removing managing members without remaining managing members' consent.

  • Gibson v. Konick

    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.

  • LGM Holdings, LLC v. Schurder

    Publication Date: 2024-07-23
    Practice Area: Mergers and Acquisitions
    Industry: Distribution and Wholesale | Pharmaceuticals
    Court: Delaware Superior Court
    Judge: Judge Davis
    Attorneys: For plaintiff: Thomas E. Hanson, Jr., Barnes & Thornburg LLP, Wilmington, DE; Eric Sussman, Denise Lazar, Barnes & Thornburg LLP, Chicago, IL for plaintiffs.
    for defendant: John M. Seaman, Florentina D. Field, Abrams & Bayliss LLP, Wilmington, DE; Travis S. Hunter, Richards, Layton & Finger, P.A., Wilmington, DE; Michael J. Payne, Frankel, Rubin, Klein, Payne & Pudlowski, P.C., St. Louis, MO for defendants.

    Case Number: N23C-09-011 EMD CCLD

    Buyers waived their fraud claims against sellers by averring in a subsequent letter agreement that buyers' losses arose from sellers' breaches of representations and warranties, and buyers failed to file an indemnity lawsuit within the applicable survival period.

  • Kellner v. AIM ImmunoTech Inc.

    Publication Date: 2024-07-23
    Practice Area: Corporate Governance
    Industry: Pharmaceuticals
    Court: Delaware Supreme Court
    Judge: Justice Seitz
    Attorneys: For plaintiff: John M. Seaman, Eliezer Y. Feinstein, Abrams & Bayliss LLP, Wilmington, DE; Teresa Goody Guillén, Richard Raile, Baker & Hostetler LLP, Washington, DC; Marco Molina, Baker & Hostetler LLP, Costa Mesa, CA; Alexandra L. Trujillo, Baker & Hostetler LLP, Houston, TX for appellant.
    for defendant: William R. Denny, Matthew F. Davis, Nicholas D. Mozal, Caneel Radinson-Blasucci, Eric J. Nascone, Potter Anderson & Corroon LLP, Wilmington, DE; Stefan Atkinson, Mary T. Reale, Mason E. Reynolds, Joseph Taglienti, Kirkland & Ellis LLP, New York, NY; Michael F. Williams, Don Hong, Kirkland & Ellis LLP, Washington DC for appellees.

    Case Number: 3, 2024

    Court refused to enforce facially valid amended bylaws where board adopted them primarily to thwart stockholders' efforts to nominate opposing candidates to board.

  • Pope v. Hycroft Mining Holding Corp.

    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.

  • ECB USA, Inc. v. Savencia, S.A.

    Publication Date: 2024-07-23
    Practice Area: Civil Procedure
    Industry: Food and Beverage | Insurance | Manufacturing
    Court: U.S. District Court of Delaware
    Judge: District Judge Williams
    Attorneys: For plaintiff: Thomas G. Macauley, Macauley LLC, Wilmington, DE; Stephen G. Harvey, Steve Harvey LLC, Philadelphia, PA; Joel S. Magolnick, John E. Kirkpatrick, Marko & Magolnick P.A., Miami, FL for plaintiffs.
    for defendant: David W. Marston Jr., Jody C. Barillare, Brian Morris, Morgan Lewis & Bockius LLP, Wilmington, DE; Troy S. Brown, Margot G. Bloom, Su Jin Kim, Morgan Lewis & Bockius LLP, Philadelphia, PA; Michael J. Ableson, Morgan Lewis & Bockius LLP, New York, NY for defendants.

    Case Number: 19-cv-731-GBW-CJB

    Court declined to rule on objection to denial of privilege waiver where there were genuine issues of material fact over party's control over its subsidiary, which underpinned the claim that the party caused the subsidiary to disclose privileged information to third parties.