Publication Date: 2025-02-17
Practice Area: Corporate Governance
Industry: E-Commerce | Investments and Investment Advisory
Court: Delaware Supreme Court
Judge: Justice Valihura
Attorneys: For plaintiff: Kevin R. Shannon, J. Matthew Belger, Jaclyn C. Levy, Christopher D. Renaud, Justin T. Hymes, Potter Anderson & Corroon LLP, Wilmington, DE; Matthew W. Close, Jonathan B. Waxman, O’Melveny & Myers LLP, Los Angeles, CA, Abby F. Rudzin, Asher Rivner, O’Melveny & Myers LLP, New York, NY; Bradley R. Aronstam, S. Sirkin, Ross Aronstam & Moritz LLP; John A. Neuwirth, Evert J. Christensen, Jr., Stefania D. Venezia, Weil, Gotshal & Manges LLP, New York, NY for appellants.
for defendant: Gregory V. Varallo, Andrew E. Blumberg, Mae Oberste, Daniel E. Meyer, Bernstein Litowitz Berger & Grossmann LLP, Wilmington, DE, Kimberly A. Evans, Lindsay K. Faccenda, Robert Erikson, Block & Leviton LLP, Wilmington, DE; Jeroen van Kwawegen, Bernstein Litowitz Berger & Grossmann LLP, New York, NY; Jeremy Friedman, David Tejtel, Christopher Windover, Lindsay La Marca, Friedman Oster & Tejtel PLLC, Bedford Hills, NY, Jason Leviton, Nathan Abelman, Block & Leviton LLP, Boston, MA; D. Seamus Kaskela, Adrienne Bell, Kaskela Law LLC, Newtown Square, PA for appellees.
Case Number: 2023-0449-JTL
Jurisdictional conversion was reviewable under business judgment rule rather than entire fairness standard when plaintiffs failed to identify past conduct leading to concrete risk of liability for defendants that would be abrogated by the conversion.
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