• In Re Straight Path Commc'ns Inc. Consolidated Stockholder Litig.

    Publication Date: 2018-07-11
    Practice Area: Corporate Governance | Mergers and Acquisitions
    Industry: Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Ned Weinberger and Thomas Curry, Labaton Sucharow LLP, Wilmington, DE; March Lebovitch, Edward Timlin, John Vielandi, and David MacIsaac, Bernstein Litowitz Berger & Grossman LLP, New York, NY; Vincent R. Cappucci and Joshua K. Porter, Entwistle & Cappucci LLP, New York, NY, attorneys for plaintiffs
    for defendant: Rudolf Koch, Kevin M. Gallagher, Sarah A. Clark, and Anthony M. Calvano, Richards, Layton & Finger, P.A., Wilmington, DE; William Ohlemeyer, Edward Normand, and Jason Cyrulnik, Boies Schiller Flexner LLP, Armonk, NY; Kevin G. Abrams, Michael A. Barlow, and April M. Kirby, Abrams & Bayliss, Wilmington, DE; Greg A. Danilow, Seth Goodchild, and Thomas G. James, Weil, Gotshal & Manges LLP, New York, NY, attorneys for defendants.

    Case Number: D68207

    Claim that controlling stockholder improperly used influence to acquire company asset in exchange for approving sale of the company was a direct claim that could be brought by stockholders since they would have received consideration for the asset but for the controller's conduct.

  • June 12, 2018 | Delaware Business Court Insider

    Trial Set for October in CBS, Redstone Battle for Control of Media Giant

    The Delaware Court of Chancery has set an October trial date in CBS Corp.'s legal battle with controlling shareholder Shari Redstone for control of the media giant.

    1 minute read

  • May 23, 2018 | Delaware Business Court Insider

    CBS, in New Complaint Against Redstone, Says It Moved to Preserve Discretion of Independent Directors

    CBS on Wednesday defended a board vote that sharply reduced the voting power of Shari Redstone, its controlling stockholder, filing an amended complaint that her bid to block the move was "inequitable and invalid" and arguing that it acted to preserve the discretion of independent directors.

    1 minute read

  • May 16, 2018 | Delaware Business Court Insider

    Bouchard Promises Swift Ruling in CBS Suit Against Shari Redstone in Battle Over Merger With Viacom

    A Delaware Court of Chancery judge on Wednesday ordered a brief standstill in CBS Corp.'s lawsuit against Shari Redstone, but promised a decision on the merits of the case Thursday, just ahead of a planned board meeting to dilute the voting power of the company's controlling shareholder.

    1 minute read

  • May 14, 2018 | Delaware Business Court Insider

    CBS Sues Shari Redstone to Block Possible Viacom Merger With CBS

    CBS Corp. on Monday sued to stop controlling stockholder Shari Redstone from pursuing a merger with Viacom, amid fears that she could act quickly to oust the CBS board and force a deal that CBS claims would irreparably harm the company and its investors.

    1 minute read

  • In re Rouse Prop. Inc., Fiduciary Litig.,

    Publication Date: 2018-03-21
    Practice Area: Corporate Governance | Mergers and Acquisitions
    Industry: Real Estate
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Stuart M. Grant, Cynthia A. Calder, Nathan A. Cook, and Michael T. Manuel, Grant & Eisenhofer P.A., Wilmington, DE; Jason M. Leviton and Bradley Vettraino, Block & Leviton LLP, Boston, MA, attorneys for plaintiffs;
    for defendant: Stephen C. Norman, Kevin R. Shannon, and Jaclyn C. Levin, Potter Anderson & Corroon LLP, Wilmington, DE; Andrew W. Stern, Jon W. Muenz, and Leah R. Milbauer, Sidley Austin LLP, New York, NY; Kevin G. Abrams, Daniel R. Ciarrocki, Matthew L. Miller, Abrams & Bayliss, LLP, Wilmington, DE; John A. Neuwirth, Seth Goodchild, Evert J. Christensen, Matthew S. Connors, Weil, Gotshal & Manges LLP, New York, NY, attorneys for defendants.

    Case Number: D68080

    Stockholders breach of fiduciary duty claims arising from merger transaction with alleged controlling minority stockholder brought against board and alleged controller failed where allegations insufficient to find that alleged controller exerted control or dominance over board or directors or special committee designated to negotiate merger.

  • March 13, 2018 | Delaware Business Court Insider

    Slights Tosses Shareholder Challenge to $2.8B Acquisition of Mall Owner

    The Delaware Court of Chancery has rejected a challenge to Brookfield Asset Management Inc.'s role in its $2.8 billion acquisition of Rouse Properties, finding that plaintiffs had failed to show that Rouse's largest investor had driven the deal in its favor.

    1 minute read

  • Weil v. VEREIT Operating Partnership, L.P.

    Publication Date: 2018-02-28
    Practice Area: Contractual Disputes | Corporate Entities
    Industry: Real Estate
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Kenneth J. Nachbar, John P. DiTomo and Elizabeth A. Mullin for plaintiffs
    for defendant: Stephen B. Brauerman, Sara E. Bussiere, Scott A. Edelman and Alan J. Stone for defendant.

    Case Number: D68061

    Plaintiffs were entitled to advancement for legal fees incurred on their behalf in civil lawsuits.

  • November 29, 2017 | Delaware Business Court Insider

    Impact of 'Trulia' on Merger Litigation in State and Federal Courts

    Since 'Trulia', there has been a decline in Delaware in the number of run-of-the-mill challenges to nearly every public company merger transaction. But while the volume of merger litigation in Delaware has been on the decline, there has been a noticeable surge in filings in other jurisdictions, particularly federal courts.

    1 minute read

  • November 13, 2017 | New York Law Journal

    Impact of 'Trulia' on Merger Litigation in State and Federal Courts

    John A. Neuwirth, Joshua S. Amsel, Christine T. Di Guglielmo and Evert J. Christensen Jr. write: Since 'Trulia', there has been a decline in Delaware in the number of run-of-the-mill challenges to nearly every public company merger transaction. But while the volume of merger litigation in Delaware has been on the decline, there has been a noticeable surge in filings in other jurisdictions, particularly federal courts.

    1 minute read