• Borealis Power Holdings Inc. v. Hunt Strategic Util. Inv., L.L.C.

    Publication Date: 2020-06-10
    Practice Area: Corporate Entities
    Industry: Energy
    Court: Delaware Supreme Court
    Judge: Justice Traynor
    Attorneys: For plaintiff: Richard I. Werder, Jr., Renita Sharma, Elisabeth B. Miller, and Ryan A. Rakower, Quinn Emanuel Urquhart & Sullivan, LLP, New York, NY; William M. Lafferty, Thomas W. Briggs, Jr., Daniel T. Menken, and Aubrey J. Morin, Morris Nichols Arsht&Tunnell LLP, Wilmington, DE for appellant Borealis Power Holdings.Neil A. Sterner, Dechert LLP, New York, NY; Blake Rohrbacher, Brian S. Yu, and Kevin M. Regan, Richards, Layton & Finger, P.A., Wilmington, DE for appellant Cheyne Walk Investments.P. Clarkson Collins, Jr., Ian D. McCauley, and Kathleen A. Murphey, Morris James LLP, Wilmington, DE for appellant Texas Transmission Investment.
    for defendant: Jessica B. Pulliam, Monica Hughes Smith, Baker Botts L.L.P., Dallas, Texas; Vernon Cassin, Baker Botts L.L.P., Washington, D.C.; Peter J. Walsh Jr., J. Matthew Belger, Andrew H. Sauder, Potter Anderson &Corroon LLP, Wilmington Delaware for Hunt Strategic Utility Investment, L.L.C. J. Christopher Shore, Alice Tsier, andVivake Prasad, White & Case LLP, New York, NY; Aaron Colodny, White & Case LLP, Los Angeles, CA; David C. McBride, Martin S. Lessner, Ryan M. Bartley, and Paul J. Loughman, Young, Conaway, Stargatt& Taylor, LLC, Wilmington, DE for appellees.

    Case Number: D69006

    Right of first refusal in separate investor rights agreement did not supersede right of first offer on transfer of equity stake in separate corporate entity where the right of first refusal only applied to minority member of the company subject to the investor rights agreement and transferor was not a minority member.

  • 77 Charters, Inc. v. Gould

    Publication Date: 2020-06-03
    Practice Area: Corporate Entities
    Industry: Investments and Investment Advisory | Retail
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: John L. Williamsand Brian C. Crawford, The Williams Law Firm, P.A., Wilmington, DE for plaintiff.
    for defendant: John A. Sensing, Potter Anderson & Corroon LLP, Wilmington, DE; Greg S. Zuckerand Michael B. Weitman, Westerman Ball Ederer Miller Zucker & Sharfstein, LLP, Uniondale, NY for defendants.

    Case Number: D68998

    Remote controller's efforts to amend operating agreement to benefit himself at the expense of another interest holder, without that interest holder's knowledge or consent, could give rise to a possible breach of fiduciary duty claim.

  • Riker v. Teucrium Trading, LLC

    Publication Date: 2020-05-27
    Practice Area: Corporate Entities
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Chancellor Bouchard
    Attorneys: For plaintiff: Michael F. Bonkowski and Andrew L. Cole, Cole Schotz P.C., Wilmington, DE; Roger A. Lane and Courtney Worcester, Foley & Lardner LLP, Boston, MA for plaintiff.
    for defendant: T. Brad Davey and Mathew A. Golden, Potter Anderson & Corroon LLP, Wilmington, DE; Barry S. Pollack and Joshua L. Solomon, Pollack Solomon Duffy LLP, Boston, MA for defendant.

    Case Number: D68995

    In this books and records request matter, the court held that plaintiff was entitled to certain documents to value his interest, but the court denied other aspects of his request.

  • Acela Inv. LLC v. DiFalco

    Publication Date: 2020-05-13
    Practice Area: Corporate Entities
    Industry: Pharmaceuticals
    Court: Court of Chancery
    Judge: Chancellor Bouchard
    Attorneys: For plaintiff: Peter B. Ladig and Brett M. McCartney, Bayard, P.A., Wilmington, DE for plaintiffs.
    for defendant: Carmella P. Keener, Cooch and Taylor, P.A., Wilmington, DE; William T. Reid IV, Michael Yoder, Jordan L. Vimont, and Ryan M. Goldstein, Reid Collins & Tsai LLP, Austin, TX for defendants.

    Case Number: D68974

    Liquidating trustee reasonably concluded that one asset purchase bid was superior to the other where the accepted bid was an all-cash offer that would help the company's depleted cash reserves and where the rejected bid had an unacceptable risk component as to the bidder's ability to commercialize the company's IP to pay the royalty component.

  • Bouchard v. Braidy Indus., Inc.

    Publication Date: 2020-05-13
    Practice Area: Corporate Entities
    Industry: Manufacturing
    Court: Court of Chancery
    Judge: Vice Chancellor McCormick
    Attorneys: For plaintiff: Kevin R. Shannon, Christopher N. Kelly, Mathew A. Golden, Potter Anderson & Corroon LLP, Wilmington, DE; Kahn A. Scolnick, Gibson, Dunn & Crutcher LLP, Los Angeles, CA; Lindsey S. Young, Gibson, Dunn & Crutcher LLP, Palo Alto, CA for plaintiff.
    for defendant: Richard P. Rollo, John T. Miraglia, Richards, Layton & Finger, P.A., Wilmington, DE for defendant.

    Case Number: D68976

    Individual defendants dismissed for lack of personal jurisdiction where their contractual consent to certain equitable remedies did not constitute a waiver of jurisdictional defenses.

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  • Highway to Health, Inc. v. Bohn

    Publication Date: 2020-04-29
    Practice Area: Corporate Entities
    Industry: Insurance | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Bouchard
    Attorneys: For plaintiff: Jody C. Barillare, Morgan, Lewis & Bockius LLP, Wilmington, DE; Brian W. Shaffer and John M. Lupton IV of Morgan, Lewis & Bockius LLP, Philadelphia, PA for plaintiffs.
    for defendant: Jami B. Nimeroff, Brown McGarry Nimeroff , Wilmington, DE; Mary Kay Brown and Raymond McGarry of Brown McGarry Nimeroff LLC, Philadelphia, PA for defendants.

    Case Number: D68961

    The court lacked personal jurisdiction over defendants under either the state's long-arm statute or a forum selection clause contained in a stockholder agreement. Motion to dismiss granted.

  • Zachman v. Real Time Cloud Serv., LLC

    Publication Date: 2020-04-15
    Practice Area: Corporate Entities
    Industry: Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff:
    for defendant: Edward McNally and Kathleen Murphy, Morris James LLP, Wilmington, DE for defendants and intervenor.

    Case Number: D68949

    Defendants breached their fiduciary duty in calculating the value of plaintiff's interest in a limited liability company at zero, so the court awarded damages to plaintiff.

  • The Chemours Co. v. DowDuPont Inc.

    Publication Date: 2020-04-15
    Practice Area: Corporate Entities
    Industry: Chemicals and Materials | Manufacturing
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Joel Friedlander, Jeffrey Gorris, Christopher Foulds, and Christopher P. Quinn, Friedlander & Gorris P.A., Wilmington, DE; William Savitt, Wachtell, Lipton, Rosen & Katz, New York, NY for plaintiff.
    for defendant: Robert S. Saunders, Jennifer C. Voss, Arthur R. Bookout, and Jessica R. Kunz, Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington, DE for defendants.

    Case Number: D68944

    Complaint dismissed where parties had agreed to arbitration clause that included broad delegation provision, which was not void or unconscionable simply because parent corporation had dictated terms to subsidiary.

  • SolarReserve CSP Holdings, LLC v. Tonopah Solar Energy, LLC

    Publication Date: 2020-04-01
    Practice Area: Corporate Entities
    Industry: Energy
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Francis G.X. Pileggi, Eckert Seamans Cherin & Mellott, LLC, Wilmington, DE; Michael G. Platner, John S. Poulos and Vincent F. Alexander, Lewis Brisbois Bisgaard & Smith LLP, Fort Lauderdale, FL for plaintiff.
    for defendant: Andrew D. Cordo, Shannon E. German, Nora M. Crawford, Wilson Sonsini Goodrich & Rosati, P.C., Wilmington, DE ; Mat-thew A. Feldman, Todd G. Cosenza, Charles D. Cording, Willkie Farr & Gallagher LLP, New York, NY for defendant.

    Case Number: D68931

    An entity that had only an indirect equity interest in a limited liability company did not qualify to seek statutory dissolution of the LLC because it was neither a member nor a manager, and it was not entitled to dissolve the company as a matter of equity. Motion to dismiss granted.

  • Germaninvestments AG v. Allomet Corp.

    Publication Date: 2020-02-12
    Practice Area: Corporate Entities
    Industry: Investments and Investment Advisory | Manufacturing
    Court: Delaware Supreme Court
    Judge: Justice Valihura
    Attorneys: For plaintiff: R. Craig Martin and Kelly L. Freund, DLA Piper LLP, Wilmington, DE for appellants.
    for defendant: John P. DiTomo, Ryan D. Stottmann, and Coleen W. Hill, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE for appellees.

    Case Number: D68872

    Chancery court erred in applying foreign law when defendants failed to meet their burden to establish the law, and thus erred in ruling that a forum clause was mandatory rather than permissive, since the clause was permissive under the applicable Delaware law.