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  • Seavitt v. N-able, Inc.

    Publication Date: 2024-08-06
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Software | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Thomas Curry, Saxena White, P.A., Wilmington, DE; David Wales, Saxena White, P.A., White Plains, NY; Adam Warden, Saxena White, P.A., Boca Raton, FL; Julie Goldsmith Reiser, Richard A. Speirs, Cohen Milstein Sellers & Toll PLLC, New York, NY for plaintiff.
    for defendant: Raymond J. DiCamillo, Matthew D. Perri, Nicole M. Henry, Kevin M. Kidwell, Richards, Layton & Finger, P.A., Wilmington, DE for defendant.
    Case Number: 2023-0326-JTL

    Governance provisions transferring authority from board to controlling investors was facially invalid where such provisions had not been incorporated into the corporate charter, as charters could not incorporate private agreements by reference without rendering them non-public and preventing stockholders from amending the charter.

  • Harris v. Harris

    Publication Date: 2023-01-31
    Practice Area: Corporate Governance
    Industry: Accounting | Biotechnology
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Joel Friedlander, Christopher M. Foulds, David Hahn, Friedlander & Gorris, P.A., Wilmington, DE; S. Michael Sirkin, R. Garrett Rice, Ross Aronstam & Moritz LLP, Wilmington DE; Gregory Lomax, Lauletta Birnbaum, Sewell, NJ; Jill Guldin, Fisher Broyles, LLP, Princeton, NY for plaintiffs.
    for defendant: David A. Jenkins, Julie M. O’Dell, Smith, Katzenstein & Jenkins LLP; Wilmington, DE; Steven L. Caponi, Matthew B. Goeller, Megan E. O’Connor, K&L Gates LLP, Wilmington, DE; Kurt M. Heyman, Patricia L. Enerio, Gillian L. Andrews, Heyman Enerio Gattuso & Hirzel LLP, Wilmington, DE; John L. Reed, Ronald N. Brown, III, Peter H. Kyle, Kelly L. Freund, DLA Piper LLP (US), Wilmington, DE; Neal J. Levitsky, E. Chaney Hall, Fox Rothschild LLP, Wilmington, DE; Emily A. Kaller, Greenbaum, Rowe, Smith & Davis LLP, Woodbridge, NJ; William M. Kelleher, Phillip A. Giordano, Madeline Silverman, Gordon, Fournaris & Mammarella, P.A., Wilmington, DE for defendants.
    Case Number: 2019-0736-JTL

    Person serving in role akin to corporate officer could be served under the Delaware Officer Consent Statute even without formally accepting a title.

  • W.D.C. Holdings, LLC v. IPI Partners, LLC

    Publication Date: 2022-07-05
    Practice Area: Corporate Entities
    Industry: E-Commerce | Investments and Investment Advisory | Real Estate
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Stephen B. Brauerman, Sarah T. Andrade, Bayard, P.A., Wilmington, DE; Christopher O. Murray, Julian R. Ellis, Jr., Brownstein Hyatt Farber Schreck, LLP, Denver, CO for plaintiffs.
    for defendant: Matthew F. Davis, Justin T. Hymes, Potter Anderson & Corroon LLP, Wilmington, DE; Charles F. Connolly, Akin Gump Strauss Hauer & Feld, Washington, DC; Stephen M. Baldini, Stephanie Lindemuth, Akin Gump Strauss Hauer & Feld, New York, NY for defendants.
    Case Number: D69872

    Partner who was removed from joint venture plausibly alleged that co-venturer improperly asserted cause to exercise its removal rights, thereby constituting a non-exculpated breach of the joint venture agreement.

  • In re Vaxart, Inc. Stockholder Litig.

    Publication Date: 2022-06-21
    Practice Area: Corporate Governance
    Industry: Pharmaceuticals
    Court: Court of Chancery
    Judge: Vice Chancellor Fioravanti
    Attorneys: For plaintiff: Stephen E. Jenkins, F. Troupe Mickler, IV, Ashby & Geddes, P.A., Wilmington, DE; Gregory V. Varallo, Bernstein Litowitz Berger & Grossmann LLP, Wilmington, DE; Jeroen van Kwawegen, Daniel E. Meyer, Margaret Sanborn-Lowing, Bernstein Litowitz Berger & Grossmann LLP, New York, NY; Gustavo F. Bruckner, Samuel J. Adams, Daryoush Behbood, Pomerantz LLP, New York, NY; Sascha N. Rand, Rollo C. Baker, IV, Silpa Maruri, Jesse Bernstein, Charles H. Sangree, Quinn Emanuel Urquhart & Sullivan, LLP, New York, NY; Stanley D. Bernstein, Matthew Guarnero, Bernstein Liebhard LLP, New York, NY; William J. Fields, Christopher J. Kupka, Samir Shukurov, Fields Kupka & Shukurov LLP, New York, NY for plaintiffs.
    for defendant: Brock E. Czeschin, Andrew L. Milam, Richards Layton & Finger, P.A., Wilmington, DE; Riccardo DeBari, Renee Zaytsev, Thompson Hine, New York, NY; Matthew F. Davis, Abraham C. Schneider, Potter Anderson & Corroon LLP, Wilmington, DE; Douglas A. Rappaport, Kaitlin D. Shapiro, Elizabeth C. Rosen, Madeleine R. Freeman, Akin Gump Strauss Hauer & Feld LLP, New York, NY for defendants.
    Case Number: D69856

    Company's selection to a primate study of its proposed vaccine did not constitute material information to the stockholders' approval of amendments to the equity incentive plan that allowed directors to issue themselves options.

  • Teamster Members Ret. Plan v. Dearth

    Publication Date: 2022-06-21
    Practice Area: Mergers and Acquisitions
    Industry: Manufacturing
    Court: Court of Chancery
    Judge: Vice Chancellor Zurn
    Attorneys: For plaintiff: R. Bruce McNew, Cooch and Taylor, P.A., Wilmington, DE; Randall J. Baron, David T. Wissbroecker, Robbins Geller Rudman & Dowd LLP, San Diego, CA; Christopher H. Lyons, Robbins Geller Rudman & Dowd LLP, Nashville, TN for plaintiff.
    for defendant: Stephen C. Norman, Tyler J. Leavengood, Christopher D. Renaud, Potter Anderson & Corroon LLP, Wilmington, DE; Marc J. Sonnenfeld, Michael L. Kichline, Matthew D. Klayman, Morgan, Lewis & Bockius LLP, Philadelphia, PA; Robert H. O’Leary, Morgan, Lewis & Bockius LLP, San Francisco, CA for defendants.
    Case Number: D69854

    Alleged omissions of information regarding company value were insufficient to render stockholder vote uninformed, thereby validating a single-bidder transaction.

  • In Re Cellular Tel. P'ship Litig.

    Publication Date: 2022-03-22
    Practice Area: Deals and Transactions
    Industry: Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Carmella P. Keener, Cooch and Taylor, P.A., Wilmington, DE; Marcus E. Montejo, Kevin H. Davenport, John G. Day, Prickett, Jones & Elliott, P.A., Wilmington, DE; Thomas R. Ajamie, David S. Siegel, Ryan van Steenis, Ajamie LLP, Houston, TX; Michael A. Pullara, Houston, TX for plaintiffs.
    for defendant: Todd C. Schiltz, Faegre Drinker Biddle & Reath LLP, Wilmington, DE; William M. Connolly, Faegre Drinker Biddle & Reath LLP, Philadelphia, PA; Zoë K. Wilhelm, Faegre Drinker Biddle & Reath LLP, Los Angeles, CA; Maurice L. Brimmage, Jr., Laura P. Warrick, Akin Gump Strauss Hauer & Feld LLP, Dallas, TX for defendants.
    Case Number: D69753

    The court held that AT&T failed to prove that the freeze-out of minority partners was entirely fair because it did not follow a fair process and did not employ procedural protections to ensure fairness to the minority partners.

  • In Re Vaxart Inc. Stockholder Litig.

    Publication Date: 2021-12-14
    Practice Area: Corporate Governance
    Industry: Biotechnology | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Fioravanti
    Attorneys: For plaintiff: Stephen E. Jenkins, F. Troupe Mickler, IV, Ashby & Geddes, P.A., Wilmington, DE; Gregory V. Varallo, Bernstein Litowitz Berger & Grossmann LLP, Wilmington, DE; Jeroen van Kwawegen, Daniel E. Meyer, Margaret Sanborn-Lowing, Bernstein Litowitz Berger & Grossmann LLP, New York, NY; Gustavo F. Bruckner, Samuel J.Adams, Daryoush Behbood, Pomerantz LLP, New York, NY; Sascha N. Rand, Rollo C. Baker, IV , Silpa Maruri, Jesse Bernstein, Charles H. Sangree, Quinn Emanuel Urquhart & Sullivan, LLP, New York, NY; Stanley D. Bernstein, Matthew Guarnero, Bernstein Liebhard LLP, New York, NY; William J. Fields, Christopher J. Kupka, Samir Shukurov, Fields Kupka & Shukurov LLP, New York, NY for plaintiffs.
    for defendant: Brock E. Czeschin, Andrew L. Milam, Richards Layton & Finger, P.A., Wilmington, DE; Riccardo DeBari, Renee Zaytsev, Mendy Pie-karski, Thompson Hine, New York, NY; Matthew F. Davis, Abraham C. Schneider, Potter Anderson & Corroon LLP, Wilmington, DE; Douglas A. Rappaport, Kaitlin D. Shapiro, Elizabeth C. Rosen, Madeleine R. Freeman, Akin Gump Strauss Hauer & Feld LLP, New York, NY for defendants.
    Case Number: D69639

    The court held that plaintiff shareholders were required to make a demand on the board prior to filing suit. Because they did not make a demand, their claims failed. Motion to dismiss granted.

  • Patel v. Duncan

    Publication Date: 2021-10-13
    Practice Area: Corporate Governance
    Industry: Energy | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Zurn
    Attorneys: For plaintiff: Stephen E. Jenkins, F. Troup Mickler IV, Ashby & Geddes, P.A., Wilmington, DE; Eduard Korsinsky, Gregory M. Nespole, Daniel Tepper, Levi & Korsinsky, LLP, New York, NY for plaintiff.
    for defendant: Kevin R. Shannon, Matthew F. Davis, Justin T. Hymes, Potter Anderson & Corroon LLP, Wilmington, DE; David M. Zensky, Brian Carney, Akin Gump Strauss Hauer & Feld LLP, New York, NY; Scott Barnard, Akin Gump Strauss Hauer & Feld LLP, Dallas, TX; David E. Ross, Ross Aronstam & Moritz LLP, Wilmington, DE; Andrew B. Clubok, J. Christian Word, Stephen P. Barry, Latham & Watkins, LLP, Washington, DC; Rudolf Koch, Matthew D. Perri, Richards Layton & Finger, P.A., Wilmington, DE; Bruce Birenboim, Susanna M. Buergel, Christopher L. Filburn, Paul, Weiss, Rifkind, Wharton & Garrison, LLP, New York, NY; William B. Chandler, III, Andrew D. Cordo, Wilson Sonsini Goodrich & Rosati, Wilmington, DE; Mark A. Kirsch, Randy M. Mastro, Gibson Dunn & Crutcher, New York, NY for defendants.
    Case Number: D69573

    The court dismissed plaintiff's derivative claims because he failed to adequately plead the existence of a control group, and plaintiff also failed to demonstrate demand futility.

  • In re Cellular Tel. P'ship Litig.

    Publication Date: 2021-10-13
    Practice Area: Corporate Entities
    Industry: Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Carmella P. Keener, Cooch and Taylor, P.A., Wilmington, DE; Thomas R. Ajamie, David S. Siegel, Ryan van Steenis, Ajamie LLP, Houston, TX; Michael A. Pullara, Houston, Texas; Marcus E. Montejo, Kevin H. Davenport, John G. Day, Prickett, Jones & Elliott, P.A., Wilmington, DE for plaintiffs
    for defendant: Maurice L. Brimmage, Jr., Akin Gump Strauss Hauer & Feld LLP, Dallas, TX; Todd C. Schiltz, Faegre Drinker Biddle & Reath LLP, Wilmington, DE; William M. Connolly, Faegre Drinker Biddle & Reath LLP, Philadelphia, PA; Zoë K. Wilhelm, Faegre Drinker Biddle & Reath LLP, Los Angeles, CA for defendants.
    Case Number: D69570

    Court declined to award dissociation damages where controlling partner failed to comply with provisions of agreement between partnership and another affiliate of the controlling partner, but where such failure did not constitute a breach of the partnership agreement.

  • 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.