Filter This View

  • Trifecta Multimedia Holdings Inc. v. WCG Clinical Serv. LLC

    Publication Date: 2024-06-25
    Practice Area: Mergers and Acquisitions
    Industry: Health Care | Investments and Investment Advisory | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Bradley R. Aronstam, Roger S. Stronach, Holley E. Newell, Ross Aronstam & Moritz LLP, Wilmington, DE; David S. Flugman, Lauren J. Zimmerman, Korey Boehm, Selendy Gay PLLC, New York, NY for plaintiffs.
    for defendant: Susan W. Waesco, Emily C. Friedman, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; William C. Jackson, Ashley Moore Drake, Goodwin Procter LLP, Washington, D.C.; Ariel E. Rogers, Goodwin Procter LLP, Redwood City, CA; Lauren E. Jackson, Goodwin Procter LLP, Boston, MA for defendant.
    Case Number: 2023-0699-JTL

    Statements that did not constitute mere puffery were sufficient to state a fraud claim where plaintiff adequately alleged defendant's scienter and where the parties' contract lacked an anti-reliance clause.

  • Aldrich Capital Partners Fund, LP v. Bray

    Publication Date: 2024-06-03
    Practice Area: Securities Litigation
    Industry: Health Care | Investments and Investment Advisory | Software
    Court: Court of Chancery
    Judge: Judge Wallace
    Attorneys: For plaintiff: Kevin M. Coen, Miranda N. Gilbert, Morris, Nichols, Arsht & Tunnell, Wilmington, DE; Joseph P. Rockers, Justin D. Ward, Goodwin Procter, Boston, MA for plaintiffs.
    for defendant: Shannon E. German, Jeremy W. Gagas, Emmanuel J. Burrell, Wilson Sonsini Goodrich & Rosati, Wilmington, DE for defendant.
    Case Number: 2023-1253-PRW

    Investor adequately pled fraud claim by alleging that entrepreneur intentionally misappropriated a third party's intellectual property despite making contractual representations as to the validity of their ownership of their IP.

  • In re Edgio, Inc. Stockholders' Litig.

    Publication Date: 2023-05-16
    Practice Area: Mergers and Acquisitions | Telecommunications
    Industry: E-Commerce | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Zurn
    Attorneys: For plaintiff: Gregory V. Varallo, Daniel E. Meyer, Bernstein Litowitz Berger & Grossman LLP, Wilmington, DE; Mark Lebovitch, Bernstein Litowitz Berger & Grossman LLP, New York, NY; Jeremy Friedman, David Tejtel, Friedman Oster & Tejtel PLLC, Bedford Hills, NY for plaintiffs.
    for defendant: Rudolf Koch, Kyle H. Lachmund, John M. O’Toole, Kevin M. Kidwell, Richards Layton & Finger, P.A., Wilmington, DE; Deborah Birnbach, Tucker DeVoe, Goodwin Procter LLP, Boston, MA for defendants.
    Case Number: 2022-0624-MTZ

    Corwin cleansing could not apply to injunctive relief claim against entrenching/defensive measures in stockholders' agreement, and plaintiffs alleged sufficient facts to support inference that company board negotiated those measures for itself to protect against stockholder activism.

  • Parseghian v. Frequency Therapeutics, Inc.

    Publication Date: 2022-07-05
    Practice Area: Corporate Governance
    Industry: Biotechnology | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Fioravanti
    Attorneys: For plaintiff: Samuel T. Hirzel, II, Jamie L. Brown, Heyman Enerio Gattuso & Hirzel LLP, Wilmington, DE; Adam C. Ford, Matthew A. Ford, Ford O’Brien, LLP, New York, NY for plaintiffs.
    for defendant: Elena C. Norman, Young Conaway Stargatt & Taylor LLP, Wilmington, DE; Deborah S. Birnbach, Jennifer Burns Luz, Matthew T. White, Goodwin Proctor LLP, Boston, MA; Kevin R. Shannon, Jaclyn C. Levy, Callan R. Jackson, Potter Anderson & Corroon LLP, Wilmington, DE; Seth Goldman, Jacob H. Hupart, Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C., New York, NY for defendants.
    Case Number: D69871

    Breach of fiduciary duty claim against company CEO dismissed where there were no factual allegations regarding the actual steps the CEO purportedly took to block plaintiff stockholders' efforts to sell their shares or that the CEO was even aware plaintiffs were seeking to transfer their stock.

  • Equity-League Pension Trust Fund v. Great Hill Partners L.P.

    Publication Date: 2021-12-14
    Practice Area: Corporate Governance
    Industry: E-Commerce | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Corinne Elise Amato, Kevin H. Davenport, Jason W. Rigby, Prickett, Jones & Elliott, P.A., Wilmington, DE; Eric L. Zagar, Matthew C. Benedict, Kessler Topaz Meltzer & Check, LLP, Radnor, PA; Patrick C. Lynch, Lynch & Pine, Providence, RI, for plaintiff.
    for defendant: Paul J. Lockwood, Jenness E. Parker, Jacob J. Fedechko, Trevor T. Nielsen, Skadden, Arps, Slate, Meagher & Flom, Wilmington, DE; John L. Reed, Ronald N. Brown, III, Peter H. Kyle, Kelly L. Fruend, DLA Piper LLP (US), Wilmington, DE; Rudolf Koch, Matthew D. Perri, Andrew L. Milam, Richards, Layton & Finger, P.A., Wilmington, DE; Roberto M. Braceras, Caroline H. Bullerjahn, John A. Barker, Dylan E. Schweers, Goodwin Procter LLP, Boston, MA; Kurt M. Heyman, Gillian L. Andrews, Heyman Enerio Gattuso & Hir-zel, LLP, Wilmington, DE; Brandon F. White, Euripides Dalmanieras, Leah S. Rizkallah, Foley Hoag LLP, Boston, MA for defendants.
    Case Number: D69638

    The court held in this derivative suit that demand was not excused where there was no showing that at least five members of a nine-member board of directors were unable to consider a pre-suit demand. Motions to dismiss granted.

  • Drachman v. Cukier

    Publication Date: 2021-11-16
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Pharmaceuticals
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Brian E. Farnan, Michael J. Farnan, Farnan LLP, Wilmington, DE; Steven J. Purcell, Douglas E. Julie, Robert H. Lefkowitz, Anisha Mirchandani, Purcell Julie & Lefkowitz LLP, New York, NY for plaintiffs.
    for defendant: Blake Rohrbacher, Alexander M. Krischik, Richards, Layton & Finger, P.A., Wilmington, DE; Caroline H. Bullerjahn, Goodwin Procter LLP, Boston, MA; Peter B. Ladig, Brett M. McCartney, Bayard P.A., Wilmington, DE for defendants.
    Case Number: D69606

    The court held that plaintiffs' amended complaint satisfied pleading requirements for a claim of breach of fiduciary duty concerning board approval and implementation of charter amendments where 1) plaintiffs made a valid demand on the board to correct a violation and 2) the allegations supported an inference that the demand was wrongfully refused.

  • AffiniPay, LLC v. West

    Publication Date: 2021-10-06
    Practice Area: Dispute Resolution
    Industry: E-Commerce | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Rudolf Koch, Ryan D. Konstanzer, Richards, Layton, & Finger, P.A., Wilmington, DE; Joseph P. Rockers, Batoul Husain, Goodwin Procter LLP, Boston, MA for plaintiffs.
    for defendant: Peter B. Ladig, Thad J. Bracegirdle, Justin C. Barrett, Bayard, P.A., Wilmington, DE for defendant.
    Case Number: D69559

    Where the parties' various agreements adopted different dispute resolution procedures, although each version delegated the issue of arbitrability to the arbitrator, the court could exercise subject matter jurisdiction to determine arbitrability where there was no unmistakable evidence that the parties had agreed to submit one party's claims to that party's chosen arbitral forum.

  • Hawkins v. Daniel

    Publication Date: 2021-09-08
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Pharmaceuticals
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Richard I. G. Jones, Jr., John G. Harris, Berger Harris LLP, Wilmington, DE for plaintiff.
    for defendant: David J. Teklits, Sara Toscano, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Jeffrey Alan Simes, Goodwin Procter LLP, New York, NY for defendant.
    Case Number: D69526

    Court declined to dismiss case in favor of previously-filed action involving the parties, where the present case involved distinct issues and the previously-filed action was heading to trial, such that dismissing the present case would not serve judicial economy by forcing the previously-filed action to return to the pleadings stage.

  • CLP Toxicology, Inc. v. Casla Bio Holdings LLC

    Publication Date: 2021-07-07
    Practice Area: Mergers and Acquisitions
    Industry: Health Care | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Chancellor Wallace
    Attorneys: For plaintiff: Christopher Viceconte, Gibbons P.C., Wilmington, DE; Anthony J. Rospert, Thomas M. Ritzert, Thompson Hine LLP, Cleveland, OH; Heather M. Hawkins, Thompson Hine LLP, Cincinnati, OH for plaintiff.
    for defendant: Peter B. Ladig, Elizabeth A. Powers, Bayard, P.A., Wilmington, DE; Jordan D. Weiss, Allison R. Klein, Goodwin Procter LLP, New York, NY for defendant.
    Case Number: D69454

    Breach of earnout payment contractual provision counterclaim was dismissed where contract required arbitration of disputes over calculation and payment, which claims of diversion of funds to avoid triggering payment obligations fell under.

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

    Publication Date: 2021-01-20
    Practice Area: Mergers and Acquisitions
    Industry: Investments and Investment Advisory | Software
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Rudolf Koch, Robert L. Burns, Megan E. O’Connor, 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, Jessica A. Hartwell, Wilson Sonsini Goodrich & Rosati, P.C., Wilmington, DE; Mark A. Kirsch, Scott A. Edelman, Aric H. Wu, Laura K. O’Boyle, Peter Wade, Gibson, Dunn & Crutcher LLP, New York, NY; Lewis H. Lazarus Morris James LLP, Wilmington, DE; Peter N. Flocos, Joanna A. Diakos, K&L Gates LLP, New York, NY; David S. Eagle, Sean M. Brennecke, Klehr Harrison Harvey Branzburg LLP, Wilmington, DE; Michael K. Coran, William T. Hill, Monica Clarke Platt, Gregory R. Sellers, Klehr Harrison Harvey Branzburg LLP, Philadelphia, PA for defendants.
    Case Number: D69263

    Contractual fee shifting denied where plaintiffs prevailed on certain theories but recovery of minimal damages meant that neither side qualified as a "prevailing party" and equity did not warrant shifting of fees.