• Almond v. Glenhill Advisors LLC

    Publication Date: 2018-08-29
    Practice Area: Mergers and Acquisitions
    Industry:
    Court: Court of Chancery
    Judge: Chancellor Bouchard
    Attorneys: For plaintiff: Peter B. Ladig, Bayard, P.A, Wilmington, DE; David H. Wollmuth and Michael C. Ledley, Wollmuth Maher & Deutsch LLP, New York, NE; Norman M. Monhait and P. Bradford deLeeuw, Rosenthal Monhait & Goddess, P.A., Wilmington, DE; Scott J. Watnkid, Wilk Auslander LLP, New York, NY; Thomas A. Brown, Morea Schwartz Bradham Friedman & Brown LLP, New York, NY, attorneys for plaintiffs
    for defendant: Andrew D. Cordo and F. Troupe Mickler IV, Ashby & Geddes, Wilmington, DE; Adrienne M. Ward and Brian Katz, Olshan Frome Wolosky LLP, New York, NY; John B. Horgan, Ellenoff Grossman & Schole LLP, New York, NY; Douglas D. Herrmann, Pepper Hamilton LLP, Wilmington, DE; Paul B. Carberry, Joshua Weedman, and Erin Smith, White & Case LLP, New York, NY; Frederick B. Rosner, Scott J. Leonhardt, and Jason A. Gibson, The Rosner Law Group LLC, Wilmington, DE; S. Preston Ricardo, Golenbock Eiseman Assor Bell & Peskoe LLP, New York, NY; John D. Hendershot, Susan M. Hannigan, and Brian F. Morris, Richards, Layton & Finger P.A., Wilmington, DE; Bryan B. House, Foley & Lardner LLP, Milwaukee, WI, attorneys for defendants.

    Case Number: D68262

    Overpayment claims challenging merger transaction were derivative claims extinguished by merger where defendant was a controlling stockholder and enjoyed no increase in its economic stake or voting power.

  • Triumph Aerostructures-Tulsa, LLC v. Spirit Aerosystems, Inc.

    Publication Date: 2018-08-22
    Practice Area: Contractual Disputes | Mergers and Acquisitions
    Industry: Aerospace
    Court: Delaware Superior Court
    Judge: Judge Johnson
    Attorneys: For plaintiff: David J. Margules, Evan W. Krick, David H. Pittinsky and Burt M. Rublin for plaintiff
    for defendant: Robert W. Whetzel, Travis S. Hunter, Eric Fishman and Anne Catharine Lefever for defendant.

    Case Number: D68261

    An asset purchase agreement contained clear and unambiguous language regarding which party was respon-sible for certain liabilities.

  • ChyronHego Corp. v. Wight

    Publication Date: 2018-08-15
    Practice Area: Business Torts | Mergers and Acquisitions
    Industry: Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: A. Thompson Bayliss and E. Wade Houston, Abrams & Bayliss LLP, Wilmington, DE; Peter M. Stone, Paul Hastings LLP, Palo Alto, CA, attorneys for plaintiffs
    for defendant: D. McKinley Measley and Daniel T. Menken, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Overton Thompson III and Joseph B. Crace, Jr., Bass Berry & Sims PLC, Nashville, TN, attorneys for defendants.

    Case Number: D68247

    Contractual anti-reliance clause precluded plaintiffs from pleading justifiable reliance in support of claims of extracontractual fraud.

  • In re Appraisal of Solera Holdings, Inc.

    Publication Date: 2018-08-15
    Practice Area: Mergers and Acquisitions
    Industry: Software
    Court: Court of Chancery
    Judge: Chancellor Bouchard
    Attorneys: For plaintiff: Stuart M. Grant, Christine M. Mackintosh, Vivek Upadhya, Daniel L. Berger, Lawrence M. Rolnick, Ste-ven M. Hecht and Jonathan M. Kass for petitioners
    for defendant: David E. Ross, S. Michael Sirkin, Yousef J. Riemer, Devora W. Allon, Elliot C. Harvey Schatmeier, Rich-ard Nicholson and Madelyn A. Morris for respondent.

    Case Number: D68249

    In the appraisal proceeding filed by shareholders following a merger, the court gave dispositive weight to the deal price less synergies.

  • Blueblade Capital Opportunities LLC v. Norcraft Cos., Inc.

    Publication Date: 2018-08-08
    Practice Area: Mergers and Acquisitions
    Industry: Investments and Investment Advisory | Manufacturing
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: David A. Jenkins and Robert K. Beste, Smith, Katzenstein & Jenkins LLP, Wilmington, DE; Michael E. Davidian, Blueblade Capital Opportunities LLC and Blueblade Capital Opportunities CI LLC, New York, NY, attorneys for petitioners
    for defendant: Raymond J. DiCamillo and Kevin M. Gallagher, Richards Layton & Finger, P.A., Wilmington, DE, attorneys for respondent.

    Case Number: D68238

    Delta between merger price and fair value on merger date, calculated according to discounted cash flow analysis, was caused by flaws in merger process and warranted adoption of DCF valuation over merger price as fair value for appraisal action purposes.

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  • Olenik v. Lodzinski

    Publication Date: 2018-08-01
    Practice Area: Corporate Governance | Mergers and Acquisitions
    Industry: Energy
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Ned Weinberger and Thomas Curry, Labaton Sucharow LLP, Wilmington, DE; Peter B. Andrews, Craig J. Springer, and David Sborz, Andrews & Springer LLC, New York, NY; Jeremy S. Friedman, Spencer Oster, New York, NY; David F.E. Tejtel, Friedman Oster & Tejtel PLLC, New York, NY, attorneys for plaintiff
    for defendant: Kenneth J. Nachbar, D. McKinley Measley, and Lauren Neal Bennett, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Gerard G. Pecht, Norton Rose Fulbright US LLP, Houston, TX; Peter A. Stokes and William Patrick Courtney, Norton Rose Fulbright US LLP, Austin, TX; Rolin P. Bissell and James M. Yoch, Jr., Young, Conaway, Stargatt & Taylor, LLP, Wilmington, DE; Michael C. Holmes, Craig E. Zieminski, Amy T. Perry, Kent Piacenti, and Meredith S. Jeanes, Vinson & Elkins LLP, Dallas TX; Raymond J. DiCamillo, Robert L. Burns, and Daniel E. Kaprow, Richards, Layton & Finger, P.A. Wilmington, DE, attorneys for defendants.

    Case Number: D68232

    Breach of fiduciary duty claim following business combination transaction dismissed where, although plaintiff alleged controlling stockholder on both sides of transaction sought to benefit itself to non-affiliated stockholders' detriment, transaction was valid exercise of directors' business judgment.

  • Penton Bus. Media Holdings, Inc. v. Informa PLC

    Publication Date: 2018-07-25
    Practice Area: Mergers and Acquisitions
    Industry: Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: William M. Lafferty, John P. DiTomo, Coleen Hill, Craig S. Primis, Erin C. Johnston and Matthew S. Brooker for plaintiff
    for defendant: Kevin R. Shannon, Christopher N. Kelly, Jaclyn C. Levy, Anthony M. Candido, Robert C. Myers and Benjamin A. Berringer for defendants.

    Case Number: D68227

    A merger agreement contained specific provisions regarding an expert's role in the dispute resolution process, which precluded consideration of extrinsic evidence.

  • The Cirillo Family Trust v. Moezinia

    Publication Date: 2018-07-25
    Practice Area: Mergers and Acquisitions
    Industry: Pharmaceuticals
    Court: Court of Chancery
    Judge: Chancellor Bouchard
    Attorneys: For plaintiff: David A. Jenkins, Neal C. Belgam and Clarissa R. Chenoweth for plaintiff
    for defendant: A. Thompson Bayliss, Adam K. Schulman, E. Wade Houston and Richard W. Reinthaler for defendants.

    Case Number: D68229

    The court validated written consents to a merger even though they were incorrectly dated.

  • In Re Straight Path Commc'ns Inc. Consolidated Stockholder Litig.

    Publication Date: 2018-07-11
    Practice Area: Corporate Governance | Mergers and Acquisitions
    Industry: Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Ned Weinberger and Thomas Curry, Labaton Sucharow LLP, Wilmington, DE; March Lebovitch, Edward Timlin, John Vielandi, and David MacIsaac, Bernstein Litowitz Berger & Grossman LLP, New York, NY; Vincent R. Cappucci and Joshua K. Porter, Entwistle & Cappucci LLP, New York, NY, attorneys for plaintiffs
    for defendant: Rudolf Koch, Kevin M. Gallagher, Sarah A. Clark, and Anthony M. Calvano, Richards, Layton & Finger, P.A., Wilmington, DE; William Ohlemeyer, Edward Normand, and Jason Cyrulnik, Boies Schiller Flexner LLP, Armonk, NY; Kevin G. Abrams, Michael A. Barlow, and April M. Kirby, Abrams & Bayliss, Wilmington, DE; Greg A. Danilow, Seth Goodchild, and Thomas G. James, Weil, Gotshal & Manges LLP, New York, NY, attorneys for defendants.

    Case Number: D68207

    Claim that controlling stockholder improperly used influence to acquire company asset in exchange for approving sale of the company was a direct claim that could be brought by stockholders since they would have received consideration for the asset but for the controller's conduct.

  • In re Hansen Med., Inc.

    Publication Date: 2018-07-04
    Practice Area: Corporate Governance | Mergers and Acquisitions
    Industry: Biotechnology
    Court: Court of Chancery
    Judge: Vice Chancellor Montgomery-Reeves
    Attorneys: For plaintiff: Carmella P. Keenor, Carl L. Stine, Matthew Insley-Pruitt and Adam M. Blander for plaintiff
    for defendant: Stephen C. Norman, Brian C. Ralston, Jacqueline A. Rogers, Sara B. Brody and Matthew J. Dolan for defendants Vance and Lowe; Raymond J. DiCamillo, Sarah A. Clark, Ryan P. Durkin, Rocky C. Tsai, John D. Donovan, Jr. and Martin J. Crisp for defendant Auris Surgical Robotics, Inc.; C. Barr Flinn, Kathaleen S. McCormick, Richard J. Thomas, M. Paige Valeski, Tariq Mundiya, Benjamin P. McCallen and Casey Donnelly for remaining defendants.

    Case Number: D68201

    Minority stockholders in this merger case alleged reasonably conceivable claims for breach of fiduciary duty, but not for aiding and abetting.