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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.
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.
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.
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.
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.
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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.
Publication Date: 2024-07-23
Practice Area: Consumer Protection
Industry: Automotive
Court: U.S. District Court of Delaware
Judge: District Judge Williams
Attorneys: For plaintiff: Robert J. Kriner, Jr., Scott M. Tucker, Chimicles Schwartz Kriner & Donaldson-Smith LLP, Wilmington, DE; Timothy N. Mathews, Alex M. Kashurba, Chimicles Schwartz Kriner & Donaldson-Smith LLP, Haverford, PA; Russell D. Paul, Abigail J. Gertner, Amey J. Park, Natalie Lesser, Berger Montague PC, Wilmington, DE; Tarek H. Zohdy, Cody R. Padgett, Laura E. Goolsby, Capstone Law APC, Los Angeles, CA for plaintiffs.
for defendant: Christian J. Singewald, White & Williams, Wilmington, DE for defendant.
Case Number: 23-00632-GBW
Court declined to dismiss vehicle defect claims where plaintiffs sufficiently identified the nature of the defect and claimed losses beyond that which would be compensated through the manufacturer's recall program.
Publication Date: 2024-07-23
Practice Area: Contracts
Industry: Insurance
Court: Delaware Superior Court
Judge: Judge Wallace
Attorneys: For plaintiff: Geoffrey G. Grivner, Kody M. Sparks, Buchanan Ingersoll & Rooney PC, Wilmington, DE; Benjamin N. Gluck, Oliver Rocos, Barr Benyamin, Bird Marella LLP, Los Angeles, CA for plaintiff.
for defendant: Alexandra M. Cummings, Sara Carnahan, Morris, Nichols, Arsht & Tunnel LLP, Wilmington, DE; Scott C. Solberg, Gregory M. Schweizer, Caroline P. Malone, Eimer Stahl LLP, Chicago, IL for defendants.
Case Number: N24C-01-006 PRW CCLD
Court allowed plaintiff to pursue breach of contract and implied covenant claims alternatively where there were factual disputes over whether defendant had retracted its repudiation and which remedy plaintiff elected in response to defendant's actions.
Publication Date: 2024-07-16
Practice Area: Securities Litigation
Industry: Food and Beverage | Investments and Investment Advisory | Manufacturing
Court: Delaware Superior Court
Judge: Judge Brennan
Attorneys: For plaintiff: Andrew L. Cole, Stacy L. Newman, Michael E. Fitzpatrick, Nathaniel J. Klepser, Cole Schotz PC, Wilmington, DE; J. Michael Pardoe, Cole Schotz PC, Baltimore, MD for plaintiffs.
for defendant: Marc Casarino, Katie Barksdale, Kennedys CMK LLP, Wilmington, DE for defendants.
Case Number: N23C-02-086 DJB
Investment fraud claims failed where alleged misrepresentations did not constitute actionable fraud and plaintiffs could not plead justifiable reliance due to their failure as sophisticated parties to conduct due diligence into the company's financials and business operations.
Publication Date: 2024-07-16
Practice Area: Mergers and Acquisitions
Industry: Biotechnology | Pharmaceuticals
Court: Court of Chancery
Judge: Vice Chancellor Fioravanti
Attorneys: For plaintiff: Kimberly A. Evans, Lindsay K. Faccenda, Irene R. Lax, Robert Erikson, Block & Leviton LLP, Wilmington, DE; Christopher H. Lyons, Tayler D. Bolton, Robbins Geller Rudman & Dowd LLP, Wilmington, DE; Randall J. Baron, David A. Knotts, Teo A. Doremus, Robbins Geller Rudman & Dowd LLP, San Diego, CA; Brett M. Middleton, Johnson Fistel, LLP, San Diego, CA for plaintiff.
for defendant: Kevin M. Gallagher, Nicole M. Henry, Richards, Layton & Finger, P.A., Wilmington, DE; John F. Sylvia, Kerime S. Akoglu, Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, P.C., Boston, MA; Daniel M. Silver, Benjamin A. Smyth, Sarah E. Delia, Alexandra M. Joyce, McCarter & English, LLP, Wilmington, DE; Meredith Kotler, Mary Eaton, Nicholas A. Caselli, Freshfields Bruckhaus Deringer US LLP, New York, NY for defendants.
Case Number: 2023-0125-PAF
Fiduciary claims against purported controlling stockholder dismissed where plaintiff failed to plead facts demonstrating that stockholder qualified as a controller of the company or exercised transaction-specific control during proposed sale of company via tender offer.
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