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Micro Focus (US), Inc. v. Ins. Serv. Office, Inc.
Publication Date: 2021-09-22
Practice Area: Contractual Disputes
Industry: Insurance | Software | Technology Media and Telecom
Court: U.S. District Court of Delaware
Judge: District Judge Andrews
Attorneys:
For plaintiff: J. Clayton Athey, Prickett, Jones & Elliott, P.A., Wilmington, DE; Hugh J. Marbury, Ryan P. Bottegal, Cozen O’Connor, Washington, DC; Stuart M.G. Seraina, Baldwin Seraina, Baltimore, MD for plaintiffs.
For defendant: Brian Lemon, McCarter & English, LLP, Wilmington, DE; Scott S. Christie, McCarter & English, LLP, Newark, NJ for defendant.
Case number: D69545

Significant factual disputes precluded summary judgment in this case involving end user licensing agreements for plaintiffs' software products.

Ligos v. Isramco, Inc.
Publication Date: 2021-09-15
Practice Area: Mergers and Acquisitions
Industry: Energy
Court: Court of Chancery
Judge: Vice Chancellor Glasscock
Attorneys:
For plaintiff: Corinne Elise Amato, Kevin H. Davenport, Samuel L. Closic, Stephen D. Dargitz, Jason W. Rigby, Prickett, Jones & Elliott, P.A., Wilmington, DE; Eric L. Zagar, J. Daniel Albert, Justin O. Reliford, Christopher M. Windover, Kessler Topaz Meltzer & Check, LLP, Radnor, PA for plaintiff.
For defendant: William B. Chandler III, Bradley D. Sorrels, Daniyal M. Iqbal, Nora M. Crawford, Wilson Sonsini Goodrich & Rosati, P.C., Wilmington, DE; Steven Guggenheim, Wilson Sonsini Goodrich & Rosati, P.C., Palo Alto, CA; S. Mark Hurd, Daniel T. Menken, Morris Nichols Arsht & Tunnel, LLP, Wilmington, DE; Danny David, Amy Pharr Hefley, Baker Botts L.L.P., Houston, TX; Bradley R. Aronstam, Adam D. Gold, Anthony M. Calvano, Ross Aronstam & Moritz, Wilmington, DE for defendants.
Case number: D69535

Business judgment review at the pleadings stage denied where minority stockholders were not informed that controller standing on both sides of cash-out merger transaction had also participated in an arbitration that would affect the value assets that made up a critical component of the company's overall value, thereby supporting an inference that the stockholder approval was uninformed.

Flannery v. Genomic Health, Inc.
Publication Date: 2021-09-01
Practice Area: Mergers and Acquisitions
Industry: Biotechnology
Court: Court of Chancery
Judge: Vice Chancellor Slights
Attorneys:
For plaintiff: Samuel L. Closic, Eric J. Juray, Prickett, Jones & Elliott, P.A., Wilmington, DE; Stephen J. Oddo, Gregory E. Del Gaizo, Eric M. Carrino, Robbins LLP, San Diego, CA for plaintiff.
For defendant: Robert S. Saunders, Stefania A. Rosca, Matthew R. Conrad, Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington, DE; C. Barr Flinn, Emily V. Burton, Peter J. Artese, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; Douglas A. Rappaport, Kaitlin D. Shapiro, Akin Gump Strauss Hauer & Feld LLP, New York, NY; Daniel A. Mason, Brendan W. Sullivan, Paul, Weiss, Rifkind, Wharton & Garrison LLP, Wilmington, DE; Daniel J. Toal, Geoffrey Chepiga, Caitlin E. Grusauskas, Paul, Weiss, Rifkind, Wharton & Garrison LLP, New York, NY; William M. Lafferty, Daniel T. Menken, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Tariq Mundiya, Willkie Farr & Gallagher LLP, New York, NY for defendants.
Case number: D69521

The court granted defendants' motions to dismiss plaintiff's breach of fiduciary duty claims, because plaintiff did not establish any improper conduct in connection with a merger.

August 06, 2021 | Delaware Business Court Insider

New Vice Chancellor Sworn in at Court of Chancery

The Delaware Court of Chancery announced that Paul A. Fioravanti Jr. was publicly sworn in to his first term as vice chancellor.
1 minute read
August 06, 2021 | Delaware Law Weekly

Court of Chancery Swears In New Vice Chancellor

The Delaware Court of Chancery announced that Paul A. Fioravanti Jr. was publicly sworn in to his first term as vice chancellor.
1 minute read
In re: GGP, Inc. Stockholder Litig.
Publication Date: 2021-06-09
Practice Area: Corporate Governance
Industry: Real Estate
Court: Court of Chancery
Judge: Vice Chancellor Slights
Attorneys:
For plaintiff: Ronald A. Brown, Jr., Stephen D. Dargitz, J. Clayton Athey, Marcus E. Montejo, Samuel L. Closic, Prickett Jones & Elliott, P.A., Wilmington, DE; Carl L. Stine, Adam J. Blander, Wolf Popper LLP, New York, NY; Frank P. DiPrima, Law Office of Frank DiPrima, P.A., Morristown, NJ for plaintiffs. Seth D. Rigrodsky, Gina M. Serra, Rigrodsky Law, P.A., Wilmington, DE; Aaron Brody, Patrick Slyne, Stull, Stull & Brody, New York, NY for plaintiff’s executive committee.
For defendant: Kevin G. Abrams, John M. Seaman, Matthew L. Miller, Abrams & Bayliss LLP, Wilmington, DE; John A. Neuwirth, Evert J. Christensen, Jr., Seth Goodchild, Matthew S. Connors, Weil, Gotshal & Manges LLP, New York, NY for defendant Brookfield Property Partners. David J. Teklits, Thomas P. Will, Morris, Nich-ols, Arsht & Tunnell LLP, Wilmington, DE for defendants Clark, Flatt and Kingston. Raymond J. DiCamillo, Susan M. Hannigan, Richards, Layton & Finger, P.A., Wilmington, DE; Brian T. Frawley, Y. Carson Zhou, Sullivan & Cromwell LLP, New York, NY for defendant Mathrani. Peter J. Walsh, Jr., Berton W. Ashman, Jr., Jaclyn C. Levy, Potter Anderson & Corroon LLP, Wilmington, DE; Peter E. Kazanoff, Michael J. Garvey, Sara A. Ricciardi, Eamonn W. Campbell, Simpson Thacher & Bartlett LLP, New York, NY for defendants Fi-ala, Fukakusa, Haley, Hurwitz and Lofgren.
Case number: D69425

The business judgment standard applied because defendant was not a controlling stockholder and an over-whelming majority of the stockholders approved this merger transaction in an informed and uncoerced vote.

Verizon Commc'ns Inc. v. Nat'l Union Fire Ins. Co.
Publication Date: 2021-03-10
Practice Area: Insurance Litigation
Industry: Insurance | Technology Media and Telecom
Court: Delaware Superior Court
Judge: Judge Davis
Attorneys:
For plaintiff: Jennifer C. Wasson, Carl M. Jones, Potter Anderson & Corroon LLP, Wilmington, DE; Robin L. Cohen, Keith McKenna, Cohen Ziffer Frenchman & McKenna LLP, New York, NY for plaintiffs.
For defendant: Kurt M. Heyman, Aaron M. Nelson, Heyman Enerio Gattuso & Hirzel LLP, Wilmington, DE; Lisa C. Solbakken, Deana Davidian, Arkin Solbakken LLP, New York, NY; Bruce E. Jameson, John G. Day, Prickett, Jones & Elliott, P.A., Wilmington, DE; Alexis J. Rogoski, Tammy Yuen, Skarzynski Marick & Black, LLC, New York, NY; Robert J. Katzenstein, Eve. H. Ormerod, Smith Katzenstein & Jenkins LLP, Wilmington, DE; Mi-chael P. Duffy, Scarlett M. Rajbanshi, Peabody & Arnold LLP, Boston, MA; John C. Phillips, Jr., David A. Bilson, Phillips, McLaughlin & Hall, P.A., Wilmington, DE; Joseph A. Bailey III, Gabriela Richeimer, Clyde & Co US LLP, Washington, DC; Michael R. Goodstein, Bailey Cavalieri LLC, Columbus, OH; Thomas J. Judge, Jason C. Reichlyn, Dykema Gossett, PLLC, Washington, DC for defendants.
Case number: D69325

The court granted summary judgment in favor of insureds because they had an indemnity claim under the plain language of the policies.

February 26, 2021 | Insurance Coverage Law Center

Superior Court: Verizon Can Recoup $24M in Defense Costs From Insurer

Superior Court Judge Eric M. Davis applied a broader definition of the insurance contract term "securities claim" that required coverage in a case over a challenge to a corporate spinoff and merger that was funded by debt instruments.
4 minute read
February 26, 2021 | Delaware Business Court Insider

Superior Court: Insurance Definition Covers Verizon's $24M in Defense Costs

Superior Court Judge Eric M. Davis applied a broader definition of the insurance contract term "securities claim" that required coverage in a case over a challenge to a corporate spinoff and merger that was funded by debt instruments.
4 minute read
Firefighters' Pension Sys. of the City of Kansas City, Missouri Trust v. Presidio, Inc.
Publication Date: 2021-02-24
Practice Area: Mergers and Acquisitions
Industry: Investments and Investment Advisory
Court: Court of Chancery
Judge: Vice Chancellor Laster
Attorneys:
For plaintiff: Michael Hanrahan, Samuel L. Closic, Stephen D. Dargitz, Jason W. Rigby, Prickett, Jones & Elliott, P.A., Wilmington, DE; Lee D. Rudy, J. Daniel Albert, Stacey A. Greenspan, Kessler Topaz Meltzer & Check, LLP, Radnor, PA for plaintiff.
For defendant: Kevin R. Shannon, Berton W. Ashman, Jr., Daniel M. Rusk, IV, Potter Anderson & Corroon LLP, Wilmington, DE; Ryan A. McLeod, Alexandra P. Sadinsky, Wilfred T. Beaye, Jr., Wachtell, Lipton, Rosen & Katz, New York, NY; William M. Lafferty, John P. DiTomo, Alexandra M. Cumings, Sara Toscano, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Scott B. Luftglass, Rebecca L. Martin, Anne S. Aufhauser, Fried, Frank, Harris, Shriver & Jacobson LLP, New York, NY; Raymond J. DiCamillo, Kevin M. Gallagher, Megan E. O’Connor, Richards, Layton & Finger, P.A, Wilmington, DE; John L. Hardiman, Sullivan & Cromwell LLP, New York, NY; A. Thompson Bayliss, E. Wade Houston, Abrams & Bayliss LLP, Wilmington, DE; Matthew Solum, Courtney A. Carvill, Kirkland & Ellis LLP, New York, NY for defendants.
Case number: D69302

CEO held personal interest in proposed acquisition transaction that he was not entitled to exculpation for, and company's financial advisor and winning bidder aided and abetted breaches of fiduciary duties by exchanging information regarding the company's bidding process.

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