• MHS Capital LLC v. Goggin

    Publication Date: 2018-05-23
    Practice Area: Corporate Governance
    Industry: Mining and Resources
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Philip Trainer, Jr., Marie M. Degnan, Stanley S. Arkin, Robert C. Angelillo and Alex Reisen for plaintiff
    for defendant: Gregory V. Varallo, Susan M. Hannigan, David L. Katsky, Adrienne B. Koch and Joseph Weiner for de-fendants Goggin and Goodwin; Michael Busenkell and Michael T. Leigh for defendant Collins.

    Case Number: D68153

    Where an operating agreement contained an exculpatory provision, plaintiff was entitled to proceed only on its breach of contract claim.

  • Carr v. New Enter. Assocs., Inc.

    Publication Date: 2018-04-11
    Practice Area: Corporate Governance
    Industry: Biotechnology | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Chancellor Bouchard
    Attorneys: For plaintiff: T. Brad Davey and Matthew A. Golden, Potter Anderson & Corroon LLP, Wilmington, DE; Barry S. Pollack and Joshua L. Solomon, Pollack Solomon Duffy LLP, Boston, MA, attorneys for plaintiff
    for defendant: Herbert W. Mondros and Krista R. Samis, Margolis Edelstein, Wilmington, DE; Michael f. Bonkowski and Nicholas J. Brannic, Cole Schotz P.C., Wilmington, DE; Roger A. Lane, Courtney Worcester, and Jasmine D. Coo, Foley & Lardner LLP, Boston, MA; Angelica Boutwell, Foley & Lardner LLP, Miami, FL, attorneys for defendants.

    Case Number: D68103

    Breach of fiduciary duty claims dismissed against parties not part of controlling stockholders control group, but maintained where demand excused by director conflicts that called transaction fairness into question.

  • In re Tesla Motors, Inc. Stockholders Litig.

    Publication Date: 2018-04-11
    Practice Area: Corporate Governance | Mergers and Acquisitions
    Industry: Automotive | Energy | Manufacturing
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Jay W. Eisenhofer, James J. Sabella, Michael Hanrahan, Paul A. Fioravanti, Jr., Samuel L. Closic, Ned Weinberger, Ryan T. Keating, Thomas, Curry, Joel Friedlander, Jeffrey M. Gorris, Justin S. Brooks, Randall J. Baron, David T. Wissbroecker, Maxwell R. Huffman, Lee D. Rudy, Eric L. Zagar, Robin Win-chester, Kristen L. Ross, Mark Lebovitch and Jeroen van Kwawegen for plaintiffs
    for defendant: David E. Ross, Garrett B. Moritz, Benjamin Z. Grossberg, William Savitt, Graham W. Meli, Steven Winter and David E. Kirk for defendants.

    Case Number: D68107

    Plaintiffs in this derivative action alleged sufficient facts to show that a minority stockholder was actually a controlling stockholder due to the amount of influence he had over the company and the board.

  • In re Oracle Corp. Derivative Litig.

    Publication Date: 2018-04-04
    Practice Area: Corporate Governance
    Industry: Software
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Joel Friedlander, Jeffrey M. Gorris, Christopher P. Quinn, Randall J. Baron, David T. Wissbroecker, Da-vid Knotts, Brian J. Robbins, Stephen J. Oddo and Gregory Del Gaizo for plaintiff
    for defendant: Elena C. Norman, Nicholas J. Rohrer, Benjamin M. Potts and Peter A. Wald for individual defendants; Thomas A. Beck, Blake Rohrbacher and Susan M. Hannigan for nominal defendant Oracle Corp.

    Case Number: D68097

    In this derivative action, the complaint adequately alleged that the majority of the board lacked independence, so demand on the board was futile.

  • The Ravenswood Inv. Co., L.P. v. Estate of Winmill

    Publication Date: 2018-04-04
    Practice Area: Corporate Governance
    Industry:
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: R. Bruce McNew and Scott B. Czerwonka for plaintiff
    for defendant: David A. Jenkins and Kelly S. Green for defendants.

    Case Number: D68100

    Defendants breached their fiduciary duties in granting themselves compensation by means of an unfair process, but plaintiff did not establish the right to any remedy besides nominal damages.

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  • In re Rouse Prop. Inc., Fiduciary Litig.,

    Publication Date: 2018-03-21
    Practice Area: Corporate Governance | Mergers and Acquisitions
    Industry: Real Estate
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Stuart M. Grant, Cynthia A. Calder, Nathan A. Cook, and Michael T. Manuel, Grant & Eisenhofer P.A., Wilmington, DE; Jason M. Leviton and Bradley Vettraino, Block & Leviton LLP, Boston, MA, attorneys for plaintiffs;
    for defendant: Stephen C. Norman, Kevin R. Shannon, and Jaclyn C. Levin, Potter Anderson & Corroon LLP, Wilmington, DE; Andrew W. Stern, Jon W. Muenz, and Leah R. Milbauer, Sidley Austin LLP, New York, NY; Kevin G. Abrams, Daniel R. Ciarrocki, Matthew L. Miller, Abrams & Bayliss, LLP, Wilmington, DE; John A. Neuwirth, Seth Goodchild, Evert J. Christensen, Matthew S. Connors, Weil, Gotshal & Manges LLP, New York, NY, attorneys for defendants.

    Case Number: D68080

    Stockholders breach of fiduciary duty claims arising from merger transaction with alleged controlling minority stockholder brought against board and alleged controller failed where allegations insufficient to find that alleged controller exerted control or dominance over board or directors or special committee designated to negotiate merger.

  • In re UnitedHealth Group, Inc. Section 220 Litigation

    Publication Date: 2018-03-14
    Practice Area: Corporate Governance
    Industry: Health Care
    Court: Court of Chancery
    Judge: Vice Chancellor Montgomery-Reeves
    Attorneys: For plaintiff: Nathan A. Cook, Jeroen van Kwawegen, David MacIsaac, Norman Berman, Nathaniel L Orenstein, Mark A. Delaney, Jessica Zeldin and Bradford P. deLeeuw for plaintiffs;
    for defendant: R. Judson Scaggs, Jr., Lauren Neal Bennett and Jason Z. Miller for defendant.

    Case Number: D68075

    Documents relating to a separate qui tam proceeding provided a credible basis for stockholders to request corporate books and records for the purpose of investigating mismanagement or wrongdoing.

  • Arch Ins. Co. v. Murdock

    Publication Date: 2018-03-14
    Practice Area: Corporate Governance | Insurance Law
    Industry: Insurance
    Court: Delaware Superior Court
    Judge: Judge Davis
    Attorneys: For plaintiff: Robert J. Katzenstein and Kathleen M. Miller, Smith, Katzenstein & Jenkins LLP, Wilmington, DE; Michael R. Goodstein, Bailey Cavalieri LLC, Columbus, OH; Merril Hirsh, Troutman Sanders LLP, Washington, DC; Michael L. Manire and Deanna M. Galla, Manire & Galla LLP, New York, NY; Robert P. Conlon and Kevin A. Lahm, Walker Wilcoz Matousek LLP, Chicago, IL; Ommid C. Farashahi, Michael T. Skoglund, and Nicholas R. Novak, BatesCarey LLP, Chicago, IL, attorneys for plaintiffs
    for defendant: Elena C. Norman and Mary F. Dugan, Young Conaway Stargatt & Taylor LLP, Wilmington, DE; Kirk A. Pasich and Pamela Wood, Pasich LLP, Los Angeles, CA; Mikaela Whitman, Pasich LLP, New York, NY , attorneys for defendants.

    Case Number: D68070

    Insurers denied summary judgment on their declaratory judgment action where Delaware law did not preclude insurance from indemnifying directors for breaches of loyalty by fraud.

  • KT4 Partners LLC v. Palantir Tech., Inc.

    Publication Date: 2018-03-07
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Software
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Bartholomew J. Dalton, Andrew C. Dalton, Barry S. Simon and Jonathan B. Pitt for plaintiff
    for defendant: Blake Rohrbacher, Kevin M. Gallagher, Kelly L. Freund, Kevin J. Orsini and Rory A. Leraris for defend-ant.

    Case Number: D68069

    A shareholder was not entitled to inspect corporate books or records where no valuation purpose was stated in the request, but the court found that the shareholder established a credible basis for obtaining records for an investigative purpose.

  • In re Appraisal of AOL Inc.

    Publication Date: 2018-03-07
    Practice Area: Corporate Governance | Mergers and Acquisitions
    Industry: Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Stuart M. Grant, Mary S. Thomas and Laina M Herbert for petitioners
    for defendant: Kevin R. Shannon, Berton W. Ashman, Jr., Christopher N. Kelly, William Savitt, Ryan A. McLeod, An-drew J.H. Cheung, Nicholas Walter and Courtney L. Shike for respondent.

    Case Number: D68067

    In this statutory appraisal proceeding filed by a minority stockholders following a merger, the court relied on a discounted cash flow analysis to determine share value.