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CLP Toxicology, Inc. v. Casla Bio Holdings LLC

Publication Date: 2020-09-02
Practice Area: Mergers and Acquisitions
Industry: Biotechnology
Court: Court of Chancery
Judge: Chancellor Wallace
Attorneys: For plaintiff: Christopher Viceconte, Gibbons, P.C., Wilmington, DE; Anthony J. Rospert and Thomas M. Ritzert, Thompson Hine LLP, Cleveland, OH for plaintiff.
for defendant: Peter B. Ladig and Elizabeth A. Powers, Bayard, P.A. Wilmington, DE; Jordan D. Weiss, Goodwin Procter LLP, New York, NY for defendants.
Case Number: D69103

Fraud claim arising from company purchase survived motion to dismiss where buyer could plead fraud arising from written misrepresentations in purchase agreement, which also contractually gave buyer the right to pursue intentional fraud claims that would necessarily arise from outside the contract.

Schneider Nat'l Carriers, Inc. v. Kuntz

Publication Date: 2020-07-29
Practice Area: Contractual Disputes
Industry: Transportation
Court: Court of Chancery
Judge: Vice Chancellor Fioravanti
Attorneys: For plaintiff: Michael A. Pittenger and Caneel Radinson-Blasucci, Potter, Anderson & Corroon LLP, Wilmington, DE; Locke Beatty, Brian Riopelle and Heryka R. Knoespel, McGuire Woods LLP, Raleigh, NC for plaintiff.
for defendant: John M. Seaman and Matthew L. Miller, Abrams & Bayliss LLP, Wilmington, DE; Anthony S. Fiotto and Kate E. MacLeman Goodwin Proctor LLP, Boston, MA for defendant.
Case Number: D69068

Factual issues regarding the parties' obligations under an asset purchase agreement and conflicting testimony about the parties' negotiations precluded summary judgment.

Gilbert v. Perlman

Publication Date: 2020-05-13
Practice Area: Mergers and Acquisitions
Industry: E-Commerce | Investments and Investment Advisory
Court: Court of Chancery
Judge: Vice Chancellor Glasscock
Attorneys: For plaintiff: Seth D. Rigrodsky, Brian D. Long and Gina M. Serra, Rigrodsky & Long, P.A., Wilmington, DE; Richard A. Maniskas, RM Law, P.C., Berwyn, PA for plaintiffs.
for defendant: Rudolf Koch, Richards, Layton & Finger, P.A., Wilmington, DE; Deborah S. Birnbach and Morgan R. Mordecai of Goodwin Procter LLP for defendants.
Case Number: D68977

Minority stockholders did not form a control group with the majority stockholder, so they did not owe any fiduciary duties to plaintiffs. Motion to dismiss granted.

Great Hill Equity Partners IV, LP v. SIG Growth Equity Management, LLC

Publication Date: 2020-03-11
Practice Area: Deals and Transactions
Industry: Investments and Investment Advisory
Court: Court of Chancery
Judge: Vice Chancellor Glasscock
Attorneys: For plaintiff: Rudolf Koch, Robert L. Burns and Megan E. O’Connorm, Richards, Layton & Finger, P.A., Wilmington, DE; Adam Slutsky, Goodwin Procter LLP, Boston, MA for plaintiffs.
for defendant: William B. Chandler III, Ian R. Liston and Jessica A. Hartwell, Wilson Sonsini Goodrich & Rosati, P.C., Wilmington, DE; Mark A. Kirsch, Scott A. Edelman, Aric H. Wu, Laura K. O’Boyle and Peter Wade, Gibson, Dunn & Crutcher LLP, New York, NY for SIG defendants. Lewis H. Lazarus, Marris James LLP, Wilmington, DE; Peter N. Flocos and Joanna A. Diakos, K&L Gates LLP, New York, NY for defendants Herzog and Kleinberg. David S. Eagle, Sean M. Brennecke, Michael K. Coran, William T. Hill, Monica Clarke Platt and Gregory R. Sellers, Klehr Harrison Harvey Branzburg LLP, Wilmington, DE and Philadelphia, PA for defendants Tal and Itshayek.
Case Number: D68905

Although plaintiff prevailed on certain claims with respect to the question of liability, the court awarded no damages. Plain-tiff's evidence for damages was speculative and impossible to allocate.

Garfield v. Blackrock Mortgage Ventures, LLC

Publication Date: 2020-01-08
Practice Area: Corporate Entities
Industry: Investments and Investment Advisory
Court: Court of Chancery
Judge: Vice Chancellor McCormick
Attorneys: For plaintiff: Kurt M. Heyman, Aaron M. Nelson, Heyman Enerio Gattuso & Hirzel LLP, Wilmington, DE; Jason M. Leviton, Joel A. Fleming, Amanda R. Crawford, Block & Leviton LLP, Boston, MA for plaintiff.
for defendant: Kenneth J. Nachbar, Morris Nichols Arsht & Tunnell, Wilmington, DE; Deborah S. Birnbach, Jennifer B. Luz, Katherine B. Dacey, Goodwin Procter LLP, Boston, MA; Kevin R. Shannon, Berton W. Ashman, Jr., Callan R. Jackson, Potter Andersoon & Corroon LLP, Wilmington, DE; John P. Coffey, Adina C. Levine, Kramer Levin Naftalis & Frankel LLP, New York, NY; David E. Ross, S. Michael Sirkin, Ross Aronstam & Moritz LLP, Wilmington, DE for defendant.
Case Number: D68832

Corporate restructuring transaction was subject to entire fairness review rather than receiving the benefit of the business judgment rule where two large stockholders formed controller group who received special benefits from the reorganization that ordinary stockholders did not receive.

Shareholder Representative Services LLC v. RSI Holdco, LLC

Publication Date: 2019-06-19
Practice Area: Mergers and Acquisitions
Industry: Aerospace | Investments and Investment Advisory | Legal Services
Court: Court of Chancery
Judge: Vice Chancellor McCormick
Attorneys: For plaintiff: Rudolf Koch, Susan M. Hannigan and Matthew W. Murphy, Richards, Layton & Finger, P.A., Wilmington, DE; Christopher F. Robertson and Alison K. Eggers, Seyfarth Shaw LLP, Boston, MA for plaintiff and third-party defendants.
for defendant: John P. DiTomo and Jarrett W. Horowitz, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Roberto M. Braceras, Adam Slutsky and Ezekiel L. Hill of Goodwin Procter LLP, Boston, MA for defendants.
Case Number: D68604

The parties' merger agreement contained a provision which preserved the attorney-client privilege regarding pre-merger communications between sellers and their attorney.

Shareholder Representative Serv. LLC v. RSI Holdco, LLC

Publication Date: 2019-06-05
Practice Area: Mergers and Acquisitions
Industry: Investments and Investment Advisory | Technology Media and Telecom
Court: Court of Chancery
Judge: Vice Chancellor McCormick
Attorneys: For plaintiff: Rudolf Koch, Susan M. Hannigan and Matthew W. Murphy, Richards, Layton & Finger, P.A., Wilmington, DE; Christopher F. Robertson and Alison K. Eggers, Seyfarth Shaw LLP, Boston, MA for plaintiffs and third-party defendants
for defendant: John P. DiTomo and Jarrett W. Horowitz, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Roberto M. Braceras, Adam Slutsky and Ezekiel L. Hill, Goodwin Procter LLP, Boston, MA for defendants/third-party plaintiffs
Case Number: D68588

In this merger litigation, defendants named only some stockholders in their third-party complaint, but the court dismissed de-fendants' request for rescission because all of the stockholders were indispensable parties. Defendants' unjust enrichment claim survived a motion to dismiss.

Great Hill Equity Partners IV, LP v. SIG Growth Equity Fund I, LLLP

Publication Date: 2018-12-19
Practice Area: Mergers and Acquisitions | Private Equity and Venture Capital
Industry: Financial Services and Banking | E-Commerce
Court: Court of Chancery
Judge: Vice Chancellor Glasscock
Attorneys: For plaintiff: Gregory V. Varallo, Rudolf Koch, and Robert L. Burns, Richards, Layton & Finger, P.A., Wilmington, DE; Stephen D. Poss and Adam Slutsky, Goodwin Procter LLP, Boston, MA for plaintiffs.
for defendant: William B. Chandler III, Ian R. Liston, and Jessica A. Hartwell, Wilson Sonsini Goodrich & Rosati, P.C., Wilmington, DE; Mark A. Kirsch, Scott A. Edelman, Aric H. Wu, Jeremy W. Stamelman, and Laura K. O'Boyle, Gibson, Dunn & Crutcher LLP, New York, NY; Lewis H. Lazarus and Meghan A. Adams, Morris James LLP, Wilmington, DE; Peter N. Flocos and Joanna A. Diakos, K&L Gates LLP, New York, NY; David S. Eagle and Sean M. Brennecke, Klehr Harrison Harvey Branzburg LLP, Wilmington, DE; Michael K. Coran, William T. Hill, Monica Clarke Platt, and Gregory R. Sellers, Klehr Harrison Harvey Branzburg LLP, Philadelphia, PA for defendants.
Case Number: D68390

Plaintiff granted judgment on its claim of breach of representations and warranties in merger agreement where defendants were found to have concealed the circumstances of their company's termination by a partner and violation of card merchant rules.

MHS Capital LLC v. Goggin

Publication Date: 2018-05-23
Practice Area: Corporate Governance
Industry: Mining and Resources
Court: Court of Chancery
Judge: Vice Chancellor Glasscock
Attorneys: For plaintiff: Philip Trainer, Jr., Marie M. Degnan, Stanley S. Arkin, Robert C. Angelillo and Alex Reisen for plaintiff
for defendant: Gregory V. Varallo, Susan M. Hannigan, David L. Katsky, Adrienne B. Koch and Joseph Weiner for de-fendants Goggin and Goodwin; Michael Busenkell and Michael T. Leigh for defendant Collins.
Case Number: D68153

Where an operating agreement contained an exculpatory provision, plaintiff was entitled to proceed only on its breach of contract claim.

In re Trulia, Inc. Stockholder Litig., DeFAX Case No. D67100 (Del. Ch. Jan. 22, 2015) Bouchard, C. (43 pages).

Publication Date: 2016-02-17
Practice Area:
Industry:
Court: Delaware Court of Chancery
Judge:
Attorneys: For plaintiff:
for defendant:
Case Number: D67100