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  • Jacobs v. Akademos, Inc.

    Publication Date: 2024-11-12
    Practice Area: Mergers and Acquisitions
    Industry: E-Commerce | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Elizabeth A. Sloan, Ballard Spahr LLP, Wilmington, DE; Jason C. Spiro, Thomas M. Kenny, Marissa DeAnna, Spiro, Harrison & Nelson, Montclair, NJ for plaintiffs.
    for defendant: Geoffrey G. Grivner, Kody M. Sparks, Buchanan Ingersoll & Rooney PC, Wilmington, DE; Geoffrey G. Grivner, Kody M. Sparks, Buchanan Ingersoll & Rooney PC, Wilmington, DE; Gavin J. Rooney, Lowenstein Sandler LLP, New York, NY for defendants.
    Case Number: 2021-0346-JTL

    Court rejected appraisal and breach of fiduciary duty claims where the record evidence demonstrated that plaintiff common stockholders' equity was worthless at the time of the merger as the company's investor's liquidation and redemption rights exceeded the company's reasonable value.

  • Campus Eye Mgmt. Holdings, LLC v. DiDonato

    Publication Date: 2024-09-17
    Practice Area: Corporate Governance
    Industry: Health Care | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: David J. Margules, Elizabeth A. Sloan, Steven L. Becton, II, Ballard Spahr LLP, Wilmington, DE for plaintiff.
    for defendant: Mary F. Dugan, Emily V. Burton, Tanner C. Jameson, Alan C. Cardenas-Moreno, Young Conaway Stargatt & Taylor LLP, Wilmington, DE for defendant.
    Case Number: 2024-0121-LWW

    Court upheld transaction involving merger of operating subsidiary and amendment of its LLC agreement to remove manager, where the relevant LLC agreements and the LLC Act authorized the actions taken to facilitate the transaction.

  • Centrella v. Avantor, Inc.

    Publication Date: 2024-07-16
    Practice Area: Corporate Governance
    Industry: Biotechnology | Chemicals and Materials | Software
    Court: Court of Chancery
    Judge: Vice Chancellor Cook
    Attorneys: For plaintiff: Tiffany Geyer Lydon, Philip Trainer, Jr., Ashby & Geddes, P.A. Wilmington, DE; Lisa C. Solbakken, Arkin Solbakken LLP, New York, NY for plaintiff.
    for defendant: Steven L. Becton, II, David J. Margules, Jessica C. Watt, Ballard Spahr LLP, Wilmington, DE for defendant.
    Case Number: 2022-0876-NAC

    Under the right-of-control test, plaintiff qualified as employee of defendant's subsidiary rather than defendant where subsidiary controlled plaintiff's compensation, determined the terms and conditions of his employment, and supervised his work.

  • Sorrento Therapeutics, Inc. v. Mack

    Publication Date: 2023-09-18
    Practice Area: Contracts
    Industry: Pharmaceuticals
    Court: Court of Chancery
    Judge: Vice Chancellor Fioravanti
    Attorneys: For plaintiff: Kevin M. Coen, Alexandra M. Cumings, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Jamie L. Wine, Steven N. Feldman, Latham & Watkins LLP, New York, NY; Matthew W. Walch, Russell Mangas, Latham & Watkins LLP, Chicago, IL for plaintiffs.
    for defendant: Elizabeth A. Sloan, Brittany M. Giusini, Fred DeRitis, Ballard Spahr LLP, Wilmington, DE; Paul Lantieri III, Ballard Spahr LLP, Philadelphia, PA; Stephen B. Brauerman, Justin C. Barrett, Bayard, P.A., Wilmington, DE for defendants.
    Case Number: 2021-0210-PAF

    Company president was liable for breaching his non-compete and fiduciary duties where the evidence supported finding that he diverted business opportunities to a competing company he founded.

  • BCIM Strategic Value Master Fund LP v. HFF, Inc.

    Publication Date: 2022-02-15
    Practice Area: Deals and Transactions
    Industry: Financial Services and Banking | Investments and Investment Advisory | Real Estate
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: David J. Margules, Elizabeth A. Sloan, Jessica C. Watt, Ballard Spahr LLP, Wilmington, DE; Stephen Brauerman, Emily A. Letcher, Bayard PA, Wilmington, DE; William B. Igoe, Philadelphia, PA for petitioner.
    for defendant: William M. Lafferty, Ryan D. Stottmann, Sarah P. Kaboly, Morris, Nichols, Arsht & Tunnell LLP, Wilmington DE; Marc J. Sonnenfeld, Laura H. McNally, Morgan, Lewis & Bockius LLP, Philadelphia, PA for respondent.
    Case Number: D69710

    The court, in the appraisal action, determined the fair value of the respondent and gave heavy weight to the deal price.

  • Joint Stock Co. Commercial Bank PrivatBank v. Kolomoisky

    Publication Date: 2021-09-08
    Practice Area: Corporate Entities
    Industry: Financial Services and Banking
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Michael A. Barlow, Abrams & Bayliss LLP, Wilmington, DE; William A. Burck, Alexander J. Merton, Quinn Emanuel Urquhart & Sullivan, LLP, Washington, DC; Rollo C. Baker, Quinn Emanuel Urquhart & Sullivan, LLP. New York, NY for plaintiff.
    for defendant: David J. Margules, Elizabeth A. Sloan, Ballard Spahr LLP, Wilmington, DE; Jason Cyrulnik, Paul Fattaruso, Roche Cyrulnik Freedman LLP, Brooklyn, NY; Devin Freedman, Roche Cyrulnik Freedman LLP, Miami, FL; Raymond J. DiCamillo, Daniel E. Kaprow, Megan E. O’Connor, Richards, Layton & Finger, P.A., Wilmington, DE; Marc E. Kasowitz, Daniel R. Benson, Mark P. Ressler, Sarmad M. Khojasteh, Joshua N. Paul, Kasowitz Benson Torres LLP, New York, NY; Albert H. Manwaring, IV, Albert J. Carroll, Morris James LLP, Wilmington, DE; Dane H. Butswinkas, David S. Blatt, Matthew B. Nicholson, Tanya M. Abrams, Williams & Connolly LLP, Washington, DC for defendants.
    Case Number: D69528

    Court granted a partial stay in fraud action where resolution of the case required rulings on foreign law that were currently being resolved in a related pending suit in that foreign court.

  • In re: Appraisal of Regal Ent. Group

    Publication Date: 2021-06-02
    Practice Area: Mergers and Acquisitions
    Industry: Entertainment and Leisure
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Samuel T. Hirzel, II, Jamie L. Brown, Heyman Enerio Gattuso & Hirzel LLP, Wilmington, DE; David J. Margules, Elizabeth A. Sloan, Ballard Spahr LLP, Wilmington, DE; Thomas E. Redburn, Jr., Maya Ginsburg, Lowenstein Sandler LLP, New York, NY for petitioners.
    for defendant: Robert S. Saunders, Jenness E. Parker, Lauren N. Rosenello, Kaitlin E. Maloney, Justin C. Barrett, Andrew D. Kinsey, Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington, DE for respondents.
    Case Number: D69419

    In this statutory appraisal proceeding, the court relied on the deal price minus synergies, and then added value connected with changes which occurred between the time of the merger agreement and the closing date.

  • RCS Creditor Trust v. Schorsch

    Publication Date: 2020-04-08
    Practice Area: Discovery
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Philip Trainer, Jr. and Marie M. Degnan, Ashby & Geddes, Wilmington, DE; John P. Coffey, Gregory A. Horowitz and Anna K. Ostrom, Kramer Levin Naftalis & Frankel, New York, NY for plaintiff.
    for defendant: Elizabeth A. Sloan and Brittany M. Giusini of Ballard Spahr LLP, Wilmington, DE; Michael C. Miller, Evan Glassman, Michael G. Scavelli, Steptoe & Johnson LLP, New York, NY; Mark Murphy, Steptoe & Johnson LLP, Washington, DC for defendant Block. Daniel A. Mason, Paul, Weiss, Rifkind, Wharton & Garrison LLP, Wilmington, DE; Allan J. Arffa, Gregory F. Laufer and Jeremy A. Benjamin, Paul, Weiss, Rifkind, Wharton & Garrison LLP, New York, NY for remaining defendants.
    Case Number: D68939

    Communications between plaintiff's counsel and a third party were subject to the attorney-client privilege based on the com-mon interest doctrine. Motion to compel denied.

  • Bamford v. Penfold, L.P.

    Publication Date: 2020-03-18
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: David J. Margules, Elizabeth A. Sloan, and Brittany M. Giusini, Ballard Spahr LLP, Wilmington, DE; Wallace G. Hilke, Mark S. Enslin, Ballard Spahr LLP, Minneapolis, MN; Jeffrey S. Cianciulli, Weir & Partners, Wilmington, DE; Peter N. Kessler, Kutak Rock LLP, Philadelphia, PA for plaintiffs.
    for defendant: John G. Day, Prickett, Jones & Elliott, P.A., Wilmington, DE; Marc R. Rosen, Joshua K. Bromberg, Kleinberg, Kaplan, Wolff & Cohen, P.C., New York, NY; William B. Chandler III, Bradley D. Sorrels, Shannon E. German, Daniyal M. Iqbal, Wilson Sonsini Goodrich & Rosati, P.C., Wilmington, DE, attorneys for defendants.
    Case Number: D68910

    Derivative fraud and unjust enrichment claims dismissed as duplicative of plaintiffs' direct claims for breach of fiduciary duties and conversion.

  • Brown v. Rite Aid Corp.

    Publication Date: 2019-06-05
    Practice Area: Corporate Governance
    Industry: Retail
    Court: Court of Chancery
    Judge: Vice Chancellor Zurn
    Attorneys: For plaintiff: John M. Seaman and Matthew L. Miller, Abrams & Bayliss LLP, Wilmington, DE; Ray Shepard, The Shepard Law Firm LLC, Pasadena, MD for plaintiff
    for defendant: David J. Margules, Jessica C. Watt, and Evan W. Krick, Ballard Spahr LLP, Wilmington, DE; William A. Slaughter and William B. Igoe, Ballard Spahr LLP, Philadelphia, PA for defendant
    Case Number: D68583

    Former director/officer was entitled to mandatory indemnification by prevailing in corporate lawsuit against him for acts taken in his official capacity by ultimately enforcing court's prior order barring corporation from asserting suits against its directors and officers.