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  • PPL Corp. v. Riverstone Holdings LLC

    Publication Date: 2019-11-06
    Practice Area: Contractual Disputes
    Industry: Energy | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Paul J. Lockwood, Robert A. Weber, Nicole A. DiSalvo, Skadden Arps, Slate, Meagher & Flom, Wilmington, DE; George A. Zimmerman, Jonathan Frank, Tansy Woan, Andrew N. Goldman and Charles C. Platt, Skadden Arps, Slate, Meagher & Flom, New York, NY for PPL plaintiffs.
    for defendant: Thomas G. Macauley, Macauley LLC, Wilmington, DE; Joshua L. Siefert of Joshua L. Siefert PLLC, New York, NY for plaintiff Farr. Rolin P. Bissell and James M. Yoch, Jr., Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; Michael C. Holmes, Melissa L. James and Devin L. Kerns, Vinson & Elkins LLP, Dallas, TX for Riverstone, Raven Power, C/R Energy and Sapphire Power defendants. David E. Ross and R. Garrett Rice, Ross Aronstam & Moritz LLP, Wilmington, DE; Karl Stern and Kate K. Shih, Quinn Emanuel Urquhart & Sullivan, LLP, New York, NY; Andrew J. Rossman, Quinn Emanuel Urquhart & Sullivan, LLP, New York NY; Adam B. Wolfson of Quinn Emanuel Urquhart & Sullivan, LLP, Los Angeles, CA for Talen defendants.
    Case Number: D68763

    The court denied defendant's motion to dismiss or stay this action, because the agreement at issue contained a Delaware fo-rum selection clause.

  • In re: Transperfect Global, Inc.

    Publication Date: 2019-10-30
    Practice Area: Litigation
    Industry: Consulting
    Court: Court of Chancery
    Judge: Vice Chancellor Bouchard
    Attorneys: For plaintiff: David L. Finger, Finger & Slanina, LLC, Wilmington, DE; David B. Goldstein, Rabinowitz, Boudin, Standard, Krinsky & Lieberman, P.C., New York, NY; Alan M. Dershowitz, Cambridge, MA for Philip Shawe.
    for defendant: Frank E. Noyes, II and Charles A. McCauley, III, Offit Kurman, P.A., Wilmington, DE for TransPerfect Global, Inc. Jennifer C. Voss and Elisa M.C. Klein, Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington, DE for custodian. Jeremy D. Eicher, Ei-cher Law LLC, Wilmington, DE for Shirley Shawe. Kevin R. Shannon, Berton W. Ashman, Jr., Christopher N. Kelly, Jaclyn C. Levy and Matthew A. Golden, Potter Anderson & Corroon LLP, Wilmington, DE; Philip S. Kaufman and Jared I Heller, Kramer Levin Naftalis & Frankel LLP, New York, NY for Elizabeth Elting.
    Case Number: D68755

    Parties were in contempt because they filed a separate suit which deprived the chancery court of exclusive jurisdiction.

  • Morris v. Spectra Energy Partners (DE) GP, LP

    Publication Date: 2019-10-16
    Practice Area: Class Actions
    Industry: Energy | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Michael J. Barry and Michael T. Manuel, Grant & Eisenhofer P.A., Wilmington, DE; Peter B. Andrews and Craig J. Springer, Andrews & Springer LLC, Wilmington, DE; Jeremy Friedman, Spender Oster and David Tejtel, Friedman Oster & Tejtel PLLC, New York, NY for plaintiff.
    for defendant: Robert S. Saunders, Ronald N. Brown, III, Ryan M. Lindsay, Noelle M. Reed, Daniel S. Mayerfeld and Alston L. Walker, Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington, DE and Houston, TX for defendant.
    Case Number: D68737

    The value of a derivative claim was not material in the context of a merger, so plaintiff lacked standing in this class action.

  • Saba Capital Master Fund, Ltd. v. BlackRock Credit Allocation Income Trust

    Publication Date: 2019-07-17
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Zurn
    Attorneys: For plaintiff: Carmella P. Keener of Rosenthal, Monhait & Goddess, P.A., Wilmington, DE; Carol S. Shahmoon and Gregory E. Keller, Shahmoon Keller PLLC, Great Neck NY for plaintiff.
    for defendant: William M. Lafferty, D. McKinley Measley, Thomas P. Will and Lauren P. Russell, Morris, Nichols, Arsht & Tunnell LLP, Wil-mington, DE; Tariq Mundiya, Sameer Advani, Alexander L. Cheney and Brittany M. Wagonheim, Wilkie Farr & Gallagher LLP, New York, NY for BlackRock Credit Allocation Income Trust and BlackRock New York Municipal Bond Trust. Robert S. Saunders, Ronald N. Brown, III and Eben P. Colby, Skadden, Arps, Slate, Meagher & Flom, LLP, Wilmington, DE and Boston MA for BlackRock Advisors, LLC, Robert Fairbairn and John Perlowski. Gregory P. Williams and Kevin M. Regan, Richards, Layton & Finger, P.A., Wilmington, DE; John S. Kiernan and Jeremy Feigelson, Debevoise & Plimpton LLP, New York, NY for remaining defendants.
    Case Number: D68635

    The court held that companies could not invalidate a shareholder's nominees due to the failure to return an overly broad ques-tionnaire within a short time frame, and the court further required that votes in favor of the shareholder's nominees should be counted at the next annual meetings.

  • Ray Beyond Corp. v. Trimaran Fund Mgmt., L.L.C.

    Publication Date: 2019-02-20
    Practice Area: Contractual Disputes | Mergers and Acquisitions
    Industry: Education | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor McCormick
    Attorneys: For plaintiff: Kenneth J. Nachbar and Sabrina M. Hendershot, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Phillip A. Geraci, Aaron F. Miner and Harry K. Fidler, Arnold & Porter Kaye Scholer LLP, New York, NY for plaintiff and third-party defendant.
    for defendant: Robert S. Saunders, Jenness E. Parker, Lauren N. Rosenello and Jessica M. Jones, Skadden, Arps, Slate, Meagher & Flom, LLP, Wilmington, DE for defendant.
    Case Number: D68467

    A party was not entitled to specific enforcement of a provision for expert determination where the parties' dis-pute involved an issue outside the expert's area of expertise.

  • In re Xura, Inc. Stockholder Litig.

    Publication Date: 2019-01-02
    Practice Area: Mergers and Acquisitions
    Industry: Investments and Investment Advisory | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: A. Thompson Bayliss and David A. Seal, Abrams & Bayliss LLP, Wilmington, DE for plaintiff.
    for defendant: Robert S. Saunders, Arthur R. Bookout, Matthew P. Majarian, and Haley S. Stern, Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington DE; John L. Reed, Ethan H. Townsend, Peter H. Kyle, and Harrison S. Carpenter, DLA Piper LLP, Wilmington, DE for defendants.
    Case Number: D68407

    Objecting shareholder could maintain parallel appraisal and breach of fiduciary duty claims where breach claims were based on failure to disclose material facts and shareholder sought traditional remedies for breach of fiduciary duty, such as rescission or disgorgement, rather than a quasi-appraisal remedy.

  • Cedarview Opportunities Master Fund, L.P. v. Spanish Broad. Sys., Inc.

    Publication Date: 2018-09-26
    Practice Area: Communications and Media | Corporate Governance | Foreign Corrupt Practices Act
    Industry: Technology Media and Telecom
    Court: Court of Chancery
    Judge: Chancellor Bouchard
    Attorneys: For plaintiff: John E. Abramczyk, D. McKinley Measley, and Alexandra M. Cumings, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Shireen A. Barday, Kirkland & Elliss LLP, New York, NY; Patrick J. Nash, Kirkland & Ellis LLP, Chicago, IL, attorneys for plaintiffs
    for defendant: Robert S. Saunders, Matthew P. Majarian, and Haley S. Stern, Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington, DE, attorneys for defendant.
    Case Number: D68295

    Court declined to dismiss breach of contract claim where there was genuine dispute of material fact as to whether defendant company incurred indebtedness in violation of certificate of designation with preferred stockholders.

  • City of N. Miami Beach Gen. Emps.' Ret. Plan v. Dr Pepper Snapple Grp., Inc.

    Publication Date: 2018-06-13
    Practice Area: Mergers and Acquisitions
    Industry: Food and Beverage
    Court: Court of Chancery
    Judge: Chancellor Bouchard
    Attorneys: For plaintiff: Michael J. Barry, Jeff A. Almeida, and Laina M. Herbert, Grant & Eisenhofer P.A., Wilmington, DE; Mark Lebovitch and John Vielandi, Bernstein Litowitz Berger & Grossman LLP, New York, NY, attorneys for plaintiffs
    for defendant: S. Mark Hurd, Melissa A. DiVincenzo, Eric S. Klinger-Wilensky, and Alexandra Cumings, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Brian A. Herman, Morgan, Lewis & Bockius LLP, New York, NY; Jason H. Wilson, Morgan, Lewis & Bockius LLP, Philadelphia, PA; Paul J. Lockwood, Joseph O. Larkin, Sarah R. Martin, Alyssa S. O'Connell, and Michelle L. Davis, Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington, DE, attorneys for defendants.
    Case Number: D68175

    Stockholders were not entitled to statutory right of appraisal where their stock was not in a constituent corporation as the merger was being effected by a merger subsidiary and where stockholders would retain their shares following merger.

  • Cumming v. Edens

    Publication Date: 2018-03-07
    Practice Area: Corporate Governance | Mergers and Acquisitions
    Industry: Health Care
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Jeffrey Gorris, Christopher Foulds, and Christopher Quinn, Friedlander & Gorris P.A., Wilmington, DE; David Wales, David MacIssac, and John Vielandi, Bernstein Litowtiz Berger & Grossman LLP, New York, NY; Adam Warden, Saxena White P.A., Boca Raton, FL; Steven B. Singer and Joshua H. Saltzman, Saxena White P.A., White Plains, NY; J. Elazar Fruchter, Wohl & Fruchter LLP, New York, NY, attorneys for plaintiff
    for defendant: Robert S. Saunders, Ronald N. Brown, III, Sarah R. Martin, and Elisa M.C. Klein, Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington, DE, attorneys for defendants.
    Case Number: D68064

    Derivative complaint not dismissed where plaintiff pled facts of directors conflicts of interest with corporation on the other side of the challenged transaction supporting a reasonable doubt as to whether board was disinterested or independent, which constituted a non-exculpated claim.

  • A. Schulman, Inc. v. Citadel Plastic Holdings, LLC

    Publication Date: 2017-11-15
    Practice Area: Business Torts | Civil Procedure | Contracts
    Industry:
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Paul J. Lockwood, Skadden, Arps, Slate, Meagher & Flom, LLP, Wilmington, DE, attorney for plaintiff
    for defendant: David E. Ross, Eric D. Selden, and Nicholas D. Mozal, Aronstam & Moritz LLP, Wilmington, DE, attorneys for defendants.
    Case Number: D67934

    Defendants motion for stay after several defendants receipt of subpoenas in criminal investigation denied where lack of pending indictments meant that plaintiffs and the publics interest in civil action proceeding to trial outweighed remote possibility of prejudice to defendants in any future criminal proceedings.