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August 20, 2024 | Delaware Business Court Insider

Bayard Attorneys Speak at 2024 ABI Mid-Atlantic Bankruptcy Workshop

On Aug. 6, Bayard attorney Steven D. Adler spoke on an American Bankruptcy Institute Workshop (ABI) panel titled "Financial Distress/Good Faith."
2 minute read
Erste Asset Mgmt. GmbH v. Hees
Publication Date: 2024-08-20
Practice Area: Corporate Governance
Industry: Consulting | Food and Beverage | Investments and Investment Advisory | Manufacturing
Court: Court of Chancery
Judge: Vice Chancellor Will
Attorneys:
For plaintiff: Joel Friedlander, Jeffrey M. Gorris, Christopher M. Foulds, Friedlander & Gorris, P.A., Wilmington, DE; Lawrence P. Eagel, Melissa Fortunato, Marion C. Passmore, Brandon Walker, Bragar Eagel & Squire, P.C., New York, NY for plaintiff.
For defendant: Matthew D. Stachel, Paul, Weiss, Rifkind, Wharton & Garrison LLP, Wilmington, DE; Daniel J. Kramer, Andrew J. Ehrlich, Robert N. Kravitz, Paul, Weiss, Rifkind, Wharton & Garrison LLP, New York, NY; Michael A. Pittenger, Jacqueline A. Rogers, Caneel Radinson-Blasucci, Camilia R. Katkocin, Potter Anderson & Corroon LLP, Wilmington, DE; Sandra C. Goldstein, Stefan Atkinson, Kevin M. Neylan, Jr., Kirkland & Ellis LLP, New York, NY for defendants.
Case number: 2023-1191-LWW

Court denied relief from dismissed action where "newly discovered evidence" was available to plaintiff long before it filed its initial derivative complaint.

Thomson Reuters Enter. Centre GmbH v. Ross Intelligence Inc.
Publication Date: 2024-08-20
Practice Area: Copyrights
Industry: E-Commerce | Software | Technology Media and Telecom
Court: U.S. District Court of Delaware
Judge: District Judge Bibas
Attorneys:
For plaintiff: Jack B. Blumenfeld, Michael J. Flynn, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Dale M. Cendali, Jeremy King, Eric A. Loverro, Joshua L. Simmons, Kirkland & Ellis LLP, New York, NY; Miranda Means, Kirkland & Ellis LLP, Boston, MA; Yungmoon Chang, Allyn Belusko, Kirkland & Ellis LLP, Los Angeles, CA for plaintiffs.
For defendant: David Ellis Moore, Bindu Ann George Palapura, Andrew L. Brown, Potter Anderson & Corroon LLP, Wilmington, DE; Warrington Parker, Joachim B. Steinberg, Jacob Canter, Christopher J. Banks, Anna Z. Saber, Crowell & Moring LLP, San Francisco, CA; Mark A. Klapow, Crinesha B. Berry, Lisa Kimmel, Crowell & Moring LLP, Washington, D.C.; Emily T. Kuwahara, Jordan Ludwig, Crowell & Moring LLP, Los Angeles, CA; Ryan Henry Seewald, Crowell & Moring LLP, Denver, CO for defendant.
Case number: 1:20-cv-613-SB

Expert opinion on liability was not unreliable where it detailed how data for comparison was selected, as limited qualitative analysis did not automatically render the opinion unreliable.

August 13, 2024 | The American Lawyer

Deal Watch: AI Race Changes Deal Market, Influencing Capital Markets, Energy, Real Estate Practices

Simpson Thacher partner David Azarkh said the need for capital to support AI companies and those in the energy, data, infrastructure and real estate industries "will mean additional capital markets offerings."
8 minute read
Fortis Advisors LLC v. Medtronic Minimed, Inc.
Publication Date: 2024-08-13
Practice Area: Mergers and Acquisitions
Industry: Health Care | Investments and Investment Advisory | Manufacturing | Software
Court: Court of Chancery
Judge: Chancellor Adams
Attorneys:
For plaintiff: Ronald S. Gellert, Gellert Seitz Busenkell & Brown, LLC, Wilmington, DE; Derek J. Meyer, Prospect Law LLP, Los Angelos, CA for plaintiff.
For defendant: Jacqueline A. Rogers, Potter Anderson & Corroon LLP, Wilmington, DE; Victor L. Hou, Cleary Gottlieb Steen & Hamilton LLP, New York, NY; Nowell D. Bamberger, Cleary Gottlieb Steen & Hamilton LLP, Washington, DC for defendant.
Case number: 2023-1055-MAA

Court declined to find a breach of merger agreement where seller agreed to impose no specific contractual duties upon the buyer to achieve the milestone for a contingent payment, as the buyer had discretion to exercise business judgment provided its primary purpose was not to defeat the milestone payment.

Former SARcode Shareholder LLC v. Novartis Pharma AG
Publication Date: 2024-08-13
Practice Area: Mergers and Acquisitions
Industry: Investments and Investment Advisory | Pharmaceuticals
Court: Court of Chancery
Judge: Vice Chancellor Cook
Attorneys:
For plaintiff: John G. Harris, Halloran Farkas + Kittila LLP, Wilmington, DE for plaintiff.
For defendant: Stephen C. Norman, Jaclyn C. Levy, Emma K. Diver, Potter Anderson & Corroon LLP, Wilmington, DE for defendant.
Case number: 2022-1053-NAC

Court denied motion to vacate judgment dismissing action to enforce information rights on res judicata grounds where existence of underlying clinical trial data had been known to parties in prior action, where they could have sued to enforce their information rights.

In re Kraft Heinz Demand Refused Derivative Stockholder Litig.
Publication Date: 2024-08-06
Practice Area: Corporate Governance
Industry: Food and Beverage | Investments and Investment Advisory | Manufacturing
Court: Court of Chancery
Judge: Vice Chancellor Will
Attorneys:
For plaintiff: Carmella P. Keener, Cooch & Taylor, P.A., Wilmington, DE; P. Bradford deLeeuw, deLeeuw Law LLC, Wilmington, DE; Benjamin Kaufman & Patrick Donovan, Wolf Haldenstein Freeman & Herz LLP, New York, NY; Michael Hynes, Ligaya Hernandez, Hynes & Hernandez LLC, Malvern, PA; Robert C. Schubert, Willem F. Jonckheer, Schubert Jonckheer & Kolbe LLP, San Francisco, CA; Richard D. Greenfield, Marguerite R. Goodman, Ann M. Caldweel, Greenfield & Goodman LLC, Philadelphia, PA; Fred T. Isquith, Sr., Isquith Law PLLC, New York, NY for plaintiffs.
For defendant: Matthew D. Stachel, Paul, Weiss, Rifkind, Wharton & Garrison LLP, Wilmington, DE; Daniel J. Kramer, Andrew J. Ehrlich, William A. Clareman, Paul, Weiss, Rifkind, Wharton & Garrison LLP, New York, NY; Michael A. Pittenger, Jacqueline A. Rogers, Caneel Radinson-Blasucci, Potter Anderson & Corroon LLP, Wilmington, DE; Sandra C. Goldstein, Stefan Atkinson, Kevin M. Neylan, Jr., Kirkland & Ellis LLP, New York, NY for defendants.
Case number: 2022-0398-LWW

Court dismissed derivative complaint following rejected litigation demand where plaintiff stockholders had alleged no facts demonstrating errors or improprieties in the efforts of the working group formed to investigate plaintiffs' litigation demands.

Hub Group, Inc. v. Knoll
Publication Date: 2024-07-30
Practice Area: Contracts
Industry: Transportation
Court: Court of Chancery
Judge: Vice Chancellor Glasscock
Attorneys:
For plaintiff: John A. Sensing, Tyler E. Cragg, Hannah L. Paxton, Potter Anderson & Corroon LLP, Wilmington, DE for plaintiff.
For defendant: Steven J. Fineman, Travis S. Hunter, Alexandra M. Ewing, Morgan R. Harrison, Richards, Layton & Finger, P.A., Wilmington, DE for defendant.
Case number: 2024-0471-SG

Court denied temporary restraining order to enforce non-compete after it found the agreement's scope overly-broad by territory and competition such that it was not essential to protect employer's legitimate business interests.

Kellner v. AIM ImmunoTech Inc.
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.

Pope v. Hycroft Mining Holding Corp.
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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