• Teamsters Local 237 Additional Sec. Benefit Fund v. Caruso

    Publication Date: 2021-09-15
    Practice Area: Mergers and Acquisitions
    Industry: Investments and Investment Advisory | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Fioravanti
    Attorneys: For plaintiff: Joel Friedlander, Jeffrey M. Gorris, Christopher M. Foulds, Friedlander & Gorris, P.A., Wilmington, DE; Gregory V. Varallo, Bernstein Litowitz Berger & Grossman LLP, Wilmington, DE; Mark Lebovitch, Jeroen van Kwawegen, Andrew E. Blumberg, Bernstein Litowitz Berger & Grossman LLP, New York, NY; Randall J. Baron, David Wissbroecker, Robbins Geller Rudman & Dowd LLP, San Diego, CA; Christopher H. Lyons, Robbins Geller Rudman & Dowd LLP, Nashville, TN for plaintiffs.
    for defendant: Edward B. Micheletti, Cliff C. Gardner, Veronica B. Bartholomew, Gregory P. Ranzini, Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington, DE for defendant.

    Case Number: D69536

    Claim of breach of fiduciary duty by CEO with conflict of interest in merger transaction failed where there was no allegation that the independent board was unreasonable in its oversight activities during the negotiation process or that CEO acted to undermine the board's authority.

  • Kihm v. Mott

    Publication Date: 2021-09-15
    Practice Area: Mergers and Acquisitions
    Industry: Pharmaceuticals
    Court: Court of Chancery
    Judge: Vice Chancellor Zurn
    Attorneys: For plaintiff: Joel Friedlander, Jeffery M. Gorris, Friedlander & Gorris, P.A., Wilmington, DE; R. Bruce McNew, Cooch & Taylor, P.A., Wilmington, DE; Randall J. Baron, David Wissbroecker, Robbins Geller Rudman & Dowd LLP, San Diego, CA; Christopher H. Lyons, Robbins Geller Rudman & Dowd LLP, Nashville, TN; Peretz Bronstein, Bronstein, Gewirtz & Grossman, LLC, New York, NY for plaintiff.
    for defendant: A. Thompson Bayliss, April M. Kirby, Abrams & Bayliss LLP, Wilmington, DE; Peter L. Welsh, Elena Weissman Davis, Ropes & Gray LLP, Boston, MA; Timothy R. Farrell, Ropes & Gray LLP, Chicago, IL; Christian Reigstad, Ropes & Gray LLP, New York, NY; Paul D. Brown, Joseph B. Cicero, Chipman Brown Cicero & Cole, LLP, Wilmington, DE; Roger A. Lane, Courtney Worcester, Holland & Knight LLP, Boston, MA; Daniel A. Mason, Paul, Weiss, Rifkind, Wharton & Garrison LLP, Wilmington, DE; Bruce Birenboim, Susanna M. Buergel, Christopher L. Filburn, Paul, Weiss, Rifkind, Wharton & Garrison, LLP, New York, NY for defendants.

    Case Number: D69534

    Post-closing fiduciary claims against directors failed where none of the alleged omissions from the board's disclosure statement to stockholders rendered the statement deficient, such that the approval of the transaction by a majority of informed, uncoerced stockholders relieved the directors from any liability for fiduciary claims arising from the sale of the company.

  • Flannery v. Genomic Health, Inc.

    Publication Date: 2021-09-01
    Practice Area: Mergers and Acquisitions
    Industry: Biotechnology
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Samuel L. Closic, Eric J. Juray, Prickett, Jones & Elliott, P.A., Wilmington, DE; Stephen J. Oddo, Gregory E. Del Gaizo, Eric M. Carrino, Robbins LLP, San Diego, CA for plaintiff.
    for defendant: Robert S. Saunders, Stefania A. Rosca, Matthew R. Conrad, Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington, DE; C. Barr Flinn, Emily V. Burton, Peter J. Artese, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; Douglas A. Rappaport, Kaitlin D. Shapiro, Akin Gump Strauss Hauer & Feld LLP, New York, NY; Daniel A. Mason, Brendan W. Sullivan, Paul, Weiss, Rifkind, Wharton & Garrison LLP, Wilmington, DE; Daniel J. Toal, Geoffrey Chepiga, Caitlin E. Grusauskas, Paul, Weiss, Rifkind, Wharton & Garrison LLP, New York, NY; William M. Lafferty, Daniel T. Menken, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Tariq Mundiya, Willkie Farr & Gallagher LLP, New York, NY for defendants.

    Case Number: D69521

    The court granted defendants' motions to dismiss plaintiff's breach of fiduciary duty claims, because plaintiff did not establish any improper conduct in connection with a merger.

  • Aureus Holdings, LLC v. Kubient, Inc.

    Publication Date: 2021-08-25
    Practice Area: Mergers and Acquisitions
    Industry: Advertising | E-Commerce | Investments and Investment Advisory
    Court: Delaware Superior Court
    Judge: Judge Davis
    Attorneys: For plaintiff: Larry R. Wood, Jr., Brandon W. McCune, Blank Rome LLP, Wilmington, DE for plaintiff.
    for defendant: Rudolf Koch, Travis S. Hunter, Nicole K. Pedi, Valerie A. Caras, Richards, Layton & Finger, P.A., Wilmington, DE for defendant.

    Case Number: D69510

    Court declined to dismiss unjust enrichment/tortious interference claims where plaintiff alleged that defendant acted in bad faith to siphon plaintiff's customers and business development efforts, and where the parties' binding letter of intent only governed the parties' duties to create a final acquisition agreement.

  • Aveanna Healthcare, LLC v. Epic/Freedom, LLC

    Publication Date: 2021-08-25
    Practice Area: Mergers and Acquisitions
    Industry: Food and Beverage | Health Care
    Court: Delaware Superior Court
    Judge: Judge LeGrow
    Attorneys: For plaintiff: Richard L. Renck, Tracey E. Timlin, Duane Morris LLP, Wilmington, DE; Robert M. Castle, III, Randy D. Gordon, Duane Morris LLP, Dallas, TX for plaintiff.
    for defendant: Kenneth J. Nachbar, Miranda N. Gilbert, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; R. Todd Cronan, Joseph P. Rockers, Goodwin Procter LLP, Boston, MA for defendants.

    Case Number: D69511

    Buyer could pursue fraud claims against seller of companies, even though the companies made the fraudulent misrepresentations, where an anti-reliance clause could not exculpate liability for intra-contractual fraud and where the seller was plausibly alleged to have known of the falsity of the contractual representations.

  • Law Journal Press | Digital Book

    Wrongful Use of Civil Proceedings and Related Torts in Pennsylvania, Second Edition

    Authors: George Bochetto, David P. Heim, John A. O’Connell, Robert S. Tintner

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  • Houseman v. Sagerman

    Publication Date: 2021-08-04
    Practice Area: Mergers and Acquisitions
    Industry: Investments and Investment Advisory | Software
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Eric M. Andersen, Andersen Sleater Sianni LLC, Wilmington, DE for plaintiffs.
    for defendant: Stephen L. Caponi, Matthew B. Goeller, K&L Gates LLP, Wilmington, DE for defendant.

    Case Number: D69488

    Standard of review of a shareholders' representative's actions was subjective good faith where the representative was not a corporate fiduciary but instead was contractually limited to only take those actions the representative considered necessary to carry out the company's contractual obligations.

  • HostForWeb, Inc. v. Frank

    Publication Date: 2021-07-21
    Practice Area: Mergers and Acquisitions
    Industry: E-Commerce | Investments and Investment Advisory
    Court: U.S. District Court of Delaware
    Judge: District Judge Andrews
    Attorneys: For plaintiff: James D. Taylor, Jr., Charles E. Davis, Saul Ewing Arnstein & Lehr LLP, Wilmington, DE; John B. Wolf, Ashman & Stein, Stokie, IL for plaintiff.
    for defendant: John A. Sensing, Jesse L. Noa, Potter Anderson & Corroon LLP, Wilmington, DE; Branden P. Moore, McGuire Woods LLP, Pittsburgh, PA for defendants.

    Case Number: D69472

    Defendants' counterclaims were dismissed where it could not obtain a setoff from its payments to plaintiff for plaintiff's purported breach of the parties' asset purchase agreement where the express terms of the APA did not allow for setoffs.

  • Berteau v. Glazek

    Publication Date: 2021-07-21
    Practice Area: Mergers and Acquisitions
    Industry: Consumer Products | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Fioravanti
    Attorneys: For plaintiff: Neal C. Belgam, Robert K. Beste, Michael C. Wagner, Smith, Katzenstein & Jenkins LLP, Wilmington, DE; Peter B. Andrews, Craig Springer, Andrews & Springer LLC, Wilmington, DE; Jeremy Friedman, David Tejtel, Friedman, Oster & Tejtel, LLP, New York, NY for plaintiff.
    for defendant: John M. Seaman, Matthew L. Miller, Christopher F. Cannataro, Abrams & Bayliss LLP, Wilmington, DE; David A. Dorey, Brandon W. McCune, Blank Rome LLP, Wilmington, DE; Barry H. Genkin, Blank Rome LLP, Philadelphia, PA; Blake Rohrbacher, Christian C.F. Roberts, Richards, Layton & Finger, P.A., Wilmington, DE for defendants.

    Case Number: D69470

    Stockholder plausibly challenged merger transaction under entire fairness review where controller of both parties to merger received greater value from the transaction, a benefit not shared with the minority stockholders.

  • CLP Toxicology, Inc. v. Casla Bio Holdings LLC

    Publication Date: 2021-07-07
    Practice Area: Mergers and Acquisitions
    Industry: Health Care | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Chancellor Wallace
    Attorneys: For plaintiff: Christopher Viceconte, Gibbons P.C., Wilmington, DE; Anthony J. Rospert, Thomas M. Ritzert, Thompson Hine LLP, Cleveland, OH; Heather M. Hawkins, Thompson Hine LLP, Cincinnati, OH for plaintiff.
    for defendant: Peter B. Ladig, Elizabeth A. Powers, Bayard, P.A., Wilmington, DE; Jordan D. Weiss, Allison R. Klein, Goodwin Procter LLP, New York, NY for defendant.

    Case Number: D69454

    Breach of earnout payment contractual provision counterclaim was dismissed where contract required arbitration of disputes over calculation and payment, which claims of diversion of funds to avoid triggering payment obligations fell under.

  • Shareholder Representative Serv. LLC v. Albertsons Co., Inc.

    Publication Date: 2021-06-23
    Practice Area: Mergers and Acquisitions
    Industry: E-Commerce | Food and Beverage | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: John P. DiTomo, Miranda N. Gilbert, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; John T. Ruskusky, Lisa C. Sullivan, Nixon Peabody, LLP, Chicago, IL for plaintiff.
    for defendant: Thomas E. Hanson, Jr., Barnes & Thornburg LLP, Wilmington, DE; Michael E. Swartz, Taleah E. Jennings, Schulte Roth & Zabel LLP, New York, NY; Thomas P. DeFranco, Schulte Roth & Zabel LLP, Washington, DC for defendant.

    Case Number: D69445

    The court refused to dismiss a breach of contract claim where plaintiff alleged sufficient facts to support its assertion that defendant intentionally missed milestones under a merger agreement that would have required it to make earnout payments.