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IMEG Corp. v. Patel
Publication Date: 2021-02-03
Practice Area: Mergers and Acquisitions
Industry: Construction
Court: U.S. District Court of Delaware
Judge: District Judge Connolly
Attorneys:
For plaintiff: Mary Sikra Thomas, Prickett, Jones & Elliott, P.A., Wilmington, DE; Scott Commerson, John P. LeCrone, Davis Wright Tremaine LLP, Los Angelels, CA for petitioner.
For defendant: Ryan Patrick Newell, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; Richard J. Frey, David M. Prager, Brock J. Seraphin, Epstein Becker & Green, P.C. , Los Angeles, CA for respondent.
Case number: D69283

Defendant was judicially estopped from asserting a position that was inconsistent with one taken in prior litigation.

Richardson v. Clark
Publication Date: 2021-01-27
Practice Area: Corporate Governance
Industry: Financial Services and Banking
Court: Court of Chancery
Judge: Vice Chancellor Glasscock
Attorneys:
For plaintiff: Kevin H. Davenport, Samuel L. Closic, Jason W. Rigby, Prickett, Jones & Elliott, P.A., Wilmington, DE; Frank R. Schirripa, Daniel B. Rehns, Hach Rose Schirripa & Cheverie LLP, New York, NY for plaintiff.
For defendant: A. Thompson Bayliss, Joseph A. Sparco, Abrams & Bayliss LLP, Wilmington, DE; Scott P. Drake, Norton Rose Fulbright US LLP, Dallas, TX; Peter A. Stokes, Norton Rose Fulbright US LLP, Austin, TX for defend-ants.
Case number: D69273

A company's directors failed to adequately address problems identified by federal regulators, but their conduct did not amount to bad faith.

AmerisourceBergen Corp. v. Lebanon County Employees Ret. Fund
Publication Date: 2020-12-23
Practice Area: Corporate Entities
Industry: Distribution and Wholesale | Investments and Investment Advisory | Pharmaceuticals
Court: Delaware Supreme Court
Judge: Justice Traynor
Attorneys:
For plaintiff: Stephen C. Norman, Jennifer C. Wasson, Tyler J. Leavengood, Potter Anderson & Corroon LLP, Wilmington, DE; Michael D. Blanchard, Amelia G. Pennington, Morgan, Lewis & Bockius LLP, Boston, MA for appellant.
For defendant: Samuel L. Closic, Eric J. Juray, Prickett, Jones & Elliott, P.A., Wilmington, DE; Gregory V. Varallo, Bernstein Litowitz Berger & Grossman LLP, Wilmington, DE; Eric L. Zagar, Michael C. Wagner, Christopher M. Windover, Kessler Topaz Meltzer & Check, LLP, Radnor, PA; Frank R. Schirripa, Daniel B. Rehns, Hillary Nappi, Hach Rose Schirripa & Cheverie LLP, New York, NY; David Wales, Andrew Blumberg, Bernstein Litowitz Berger & Grossmann LLP, New York, NY for appellees.
Case number: D69232

Stockholders could file inspection demand after asserting credible circumstantial evidence that corporate directors and managers had engaged in wrongdoing.

Lipman v. GPB Capital Holdings LLC
Publication Date: 2020-12-02
Practice Area: Corporate Governance
Industry: Investments and Investment Advisory
Court: Court of Chancery
Judge: Vice Chancellor Glasscock
Attorneys:
For plaintiff: Marcus E. Montejo, Stephen D. Dargitz, Prickett, Jones & Elliott, P.A., Wilmington, DE; Chet B. Waldman, Adam J. Blander, Wolf Popper LLP, New York, NY for plaintiffs.
For defendant: Patricia L. Enerio, Elizabeth A. DeFelice, Heyman Enerio Gattuso & Hirzel LLP, Wilmington, DE; Tab K. Rosenfeld, Steven M. Kaplan, Nicole E. Meyer. Rosenfeld & Kaplan, LLP, New York, NY for defendants GPB Capital Holdings LLC and nominal defendants GPB Holdings II, LP and GPB Automotive Portfolio, LP. Jacob R. Kirkham, Kobre & Kim LLP, Wilmington, DE; William McGovern, Leif T. Simonson, Kobre & Kim LLP, New York, NY for defendant Gentile. Michael W. McDermott, Richard I.G. Jones, Jr., Berger Harris LLP, Wil-mington, DE; Jeffrey Schreiber, Richard J. Jancasz, Meister Seelig & Fein LLP, New York, NY for defendant Schneider. David A. Felice, Bailey & Glasser, LLP, Wilmington, DE; Kevin D. Galbraith, Law Office of Kevin Galbraith, LLC, New York, NY for defendant Lash.
Case number: D69209

Plaintiffs adequately stated claims for breach of fiduciary duty as to the controller and general partner of two limited partnerships.

Agspring Holdco, LLC v. NGP X US Holdings, L.P.
Publication Date: 2020-08-12
Practice Area: Mergers and Acquisitions
Industry: Agriculture
Court: Court of Chancery
Judge: Chancellor Bouchard
Attorneys:
For plaintiff: Joseph C. Schoell, Faegre Drinker Biddle & Reath LLP, Wilmington, DE; Jane E. Maschka, Faegre Drinker Biddle & Reath LLP, Minneapolis, MN; Jacob D. Bylund and David W. Creasey, Faegre Drinker Biddle & Reath LLP, Des Moines, IA, for plaintiffs.
For defendant: James M. Yoch, Jr. and Kevin P. Rickert, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; Michael C. Holmes, Melissa L. James, R. Kent Piacenti, Meredith S. Jeanes, and Jared D. Wilkinson, Vinson & Elkins LLP, Dallas, TX; Corinne Elise Amato and Eric J. Juray, Prickett, Jones & Elliott, P.A., Wilmington, DE; Todd W. Ruskamp and Daniel J. Schwaller, Shook, Hardy & Bacon L.L.P., Kansas City, MO for defendants.
Case number: D69078

Court declined to dismiss fraud claim arising from corporate acquisition where defendants allegedly affirmatively concealed information demonstrating the material falsity of their representations, rendering plaintiffs' claim timely under the doctrine of tolling, and where defendants had caused damage by concealing the financial distress of the company.

CHC Inv., LLC v. FirstSun Capital Bancorp
Publication Date: 2020-04-08
Practice Area: Securities Litigation
Industry: Investments and Investment Advisory
Court: Court of Chancery
Judge: Vice Chancellor McCormick
Attorneys:
For plaintiff: John G. Day, Prickett, Jones & Elliott, P.A., Wilmington, DE; Michael C. Manning, Jeffrey J. Goulder, Stefan M. Palys, and Christy M. Milliken, Stinson Leonard Street LLP, Phoenix, AZ for plaintiff.
For defendant: Jon E. Abramczyk, William M. Lafferty, and Sabrina M. Hendershot, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Lawrence Portnoy, Julia Kiechel, M. Nicholas Sage, and Caroline Stern, Davis Polk & Wardwell LLP, New York, NY for defendants.
Case number: D68934

Securities fraud claim dismissed pursuant to the statute of limitations, where court applied Delaware's shorter limitations period, where plaintiff was not forced to file in Delaware pursuant to an agreed-upon forum selection clause.

Bamford v. Penfold, L.P.
Publication Date: 2020-03-18
Practice Area: Corporate Governance
Industry: Investments and Investment Advisory
Court: Court of Chancery
Judge: Vice Chancellor Laster
Attorneys:
For plaintiff: David J. Margules, Elizabeth A. Sloan, and Brittany M. Giusini, Ballard Spahr LLP, Wilmington, DE; Wallace G. Hilke, Mark S. Enslin, Ballard Spahr LLP, Minneapolis, MN; Jeffrey S. Cianciulli, Weir & Partners, Wilmington, DE; Peter N. Kessler, Kutak Rock LLP, Philadelphia, PA for plaintiffs.
For defendant: John G. Day, Prickett, Jones & Elliott, P.A., Wilmington, DE; Marc R. Rosen, Joshua K. Bromberg, Kleinberg, Kaplan, Wolff & Cohen, P.C., New York, NY; William B. Chandler III, Bradley D. Sorrels, Shannon E. German, Daniyal M. Iqbal, Wilson Sonsini Goodrich & Rosati, P.C., Wilmington, DE, attorneys for defendants.
Case number: D68910

Derivative fraud and unjust enrichment claims dismissed as duplicative of plaintiffs' direct claims for breach of fiduciary duties and conversion.

In re: AmTrust Fin. Serv., Inc. Stockholder Litig.
Publication Date: 2020-03-11
Practice Area: Mergers and Acquisitions
Industry: Insurance | Investments and Investment Advisory
Court: Court of Chancery
Judge: Chancellor Bouchard
Attorneys:
For plaintiff: Ned Weinberger, Thomas Curry and Mark D. Richardson, Labaton Sucharow LLP, Wilmington, DE; Jay W. Eisenhofer, Mi-chael J. Barry and Kyle J. McGee, Grand & Eisenhofer P.A., Wilmington, DE; Marcus E. Montejo, Stephen D. Dargitz and John G. Day, Prickett, Jones & Elliott, P.A., Wilmington, DE; Carl L. Stine, Adam J. Blander and Antoinette Adesanya, Wolf Popper LLP, New York, NY; Jeremy Friedman, Spencer Oster and David Tejtel, Friedman Oster & Tejtel, PLLC, New York, NY; Eric L. Zagar, Robin Winchester, Michael C. Wagner and Christopher M. Windover, Kessler Topaz Meltzer & Check, LLP, Radnor, PA; David Wales and Edward Timlin, Bernstein Litowitz Berger & Grossmann LLP, New York, NY; Joseph E. White, III, Adam D. Warden, Steven B. Singer and Joshua Saltzman, Saxena White P.A., Boca Raton, FL and White Plains, NY for plaintiffs.
For defendant: Edward B. Micheletti and Bonnie W. David, Skadden, Arps, Slate, Meagher & Flow LLP, Wilmington, DE for Stone Point, Trident and Parallel Fund defendants. Gregory P. Williams, Blake Rohrbacher, Daniel E. Kaprow and Ryan D. Konstanzer, Richards, Layton & Finger, P.A., Wilmington, DE; Tariq Mundiya and Sameer Advani, Willkie Farr & Gallagher LLP, New York, NY for defendants DeCarlo, Fisch, Gulkowitz and Rivera. Daniel A. Mason, Andrew G. Gordon and William A. Clareman, Paul, Weiss, Rifkind, Wharton & Garrison LLP, Wilmington, DE and New York, NY for Zyskind, Karfunkel and Ev-ergreen defendants.
Case number: D68906

Plaintiffs alleged sufficient facts to support a reasonable inference that certain defendants participated in a breach of fiduciary duty, so the entire fairness standard applied. The court dismissed the remainder of plaintiffs' claims.

Davidow v. LRN Corp.
Publication Date: 2020-03-11
Practice Area: Deals and Transactions
Industry: Consulting
Court: Court of Chancery
Judge: Vice Chancellor Zurn
Attorneys:
For plaintiff: Stephen D. Dargitz, Kevin H. Davenport, and Jason W. Rigby, Prickett, Jones & Elliott, P.A., Wilmington, DE for plaintiff.
For defendant: Kevin G. Abrams, J. Peter Shindel, and April M. Kirby, Abrams & Bayliss LLP, Wilmington, DE; James E. Brandt and Blair Connelly, Latham & Watkins, LLP, New York, NY for defendants.
Case number: D68903

Complaint challenging self-tender offer not denied where subject to entire fairness review because inadequate disclosures and structure of offer rendered it coercive and where directors obtained personal benefits from the self-tender.

February 26, 2020 | Delaware Law Weekly

Director of Prickett Jones to Be Panelist at Tulane Corporate Law Institute

Corinne Elise Amato, director of Prickett, Jones & Elliott, is set to speak on a panel discussing "Delaware Developments" at the 32nd Tulane Corporate Law Institute.
1 minute read

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