• Bainbridge Fund Ltd. v. Republic of Argentina

    Publication Date: 2022-07-06
    Practice Area: Contractual Disputes | Creditors' and Debtors' Rights | Securities Litigation
    Industry: Investments and Investment Advisory
    Court: U.S. Court of Appeals for the Second Circuit
    Judge: Circuit Judge Michael Park
    Attorneys: For plaintiff: For Plaintiff-Appellant: David T. McTaggart, on the brief, Anthony J. Constantini, Duane Morris LLP, New York, NY.
    for defendant: For Defendant-Appellee: Rahul Mukhi, Rathna J. Ramamurthi, Abigail K. Gotter-Nugent, on the brief, Carmine D. Boccuzzi, Jr., Cleary Gottlieb Steen & Hamilton LLP, New York, NY.

    Case Number: 21-37

    Dismissal of Action to Recover on Defaulted Argentine Bonds as Time-Barred Upheld

  • U.S. v. Hastings

    Publication Date: 2022-06-15
    Practice Area: Business Torts
    Industry: Investments and Investment Advisory
    Court: U.S. District Court for the Southern District of New York
    Judge: District Judge Gregory Woods
    Attorneys: For plaintiff:
    for defendant:

    Case Number: 1:20-cr-534

    CEO Must Pay Restitution for Direct, Proximate Cause of Company Restatement

  • Zohar III Ltd. v. Stila Styles, LLC

    Publication Date: 2022-06-14
    Practice Area: Corporate Entities
    Industry: Consumer Products | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: C. Barr Flinn, Emily V. Burton, Lauren Dunkle Fortunato, Alberto E. Chávez, Kevin P. Rickert, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE for plaintiff.
    for defendant: Patricia R. Urban, Elizabeth Wilburn Joyce, Megan Ix Brison, Pinckney, Weidinger, Urban & Joyce LLC, Wilmington, DE; Kathleen M. Miller, Robert K. Beste, III, Smith, Katzenstein & Jenkins LLP, Wilmington, DE; Monica K. Loseman, Gibson, Dunn & Crutcher LLP, Denver, CO for defendants.

    Case Number: D69848

    Transaction authorized by LLC manager solely within her capacity that issued new class of equity in and amending the rights of the new class and existing classes was void as a matter of contract where the LLC's operating agreement expressly granted the right to amend to certain existing classes of members.

  • Harris v. Junger

    Publication Date: 2022-06-07
    Practice Area: Mergers and Acquisitions
    Industry: Food and Beverage | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Stephen E. Jenkins, Richard D. Heins, Ashby & Geddes, Wilmington, DE; Donald J. Enright, Elizabeth K. Tripodi, Brian D. Stewart, Levi & Korsinsky, LLP, Washington, D.C.; D. Seamus Kaskela, Kaskela Law LLC, Newtown Square, PA for plaintiffs.
    for defendant: Brock E. Czeschin, Richards, Layton & Finger, P.A., Wilmington, DE; John P. Stigi III, Sheppard, Mullin, Richter, & Hampton LLP, Los Angeles, CA for defendants.

    Case Number: D69840

    Breach of fiduciary claims not dismissed where director who later pled conflict of interest continued to participate in board discussions over merger.

  • MTGLQ Investors LP v. Beersingh

    Publication Date: 2022-05-18
    Practice Area: Civil Procedure
    Industry: Investments and Investment Advisory
    Court: Supreme Court, Queens
    Judge: Justice Lance Evans
    Attorneys: For plaintiff: Attorneys for Plaintiff By: Christopher M. Mckniff, Esq., Knuckles, Komosinski & Manfro, LLP, Elmsford, NY.
    for defendant: Attorneys for Defendant Beersingh By: Randi Scherman, Esq., Queens Legal Services, Jamaica, NY.

    Case Number: 717185/2018

    Bank Failed to Negotiate in Good Faith by Requiring Unnecessary Documents

  • Coster v. UIP Co., Inc.

    Publication Date: 2022-05-17
    Practice Area: Corporate Entities
    Industry: Investments and Investment Advisory | Real Estate
    Court: Court of Chancery
    Judge: Vice Chancellor McCormick
    Attorneys: For plaintiff: Max B. Walton, Kyle Evans Gay, Connolly Gallagher LLP, Newark, DE; Michael K. Ross, Thomas Shakow, Serine Consolino, Aegis Law Group LLP, Washington, DC for plaintiff.
    for defendant: Stephen B. Brauerman, Elizabeth A. Powers, Bayard, P.A., Wilmington, DE; Deborah B. Baum, Pillsbury Winthrop Shaw Pittman LLP, Washington, DC; Neal C. Belgam, Kelly A. Green, Jason Z. Miller, Smith Katzenstein & Jenkins LLP, Wilmington, DE for defendants.

    Case Number: D69814

    Board was substantially justified in approving stock sale that diluted equal stockholder's interest, where it mooted that stockholder's legal action that posed a risk of triggering termination of the company's key contracts.

  • May 4, 2022 | New York Law Journal

    ABCs of Digital Assets and Taxation

    Despite the prevalence of digital assets as investments as well as their use in commerce, the IRS has only issued limited guidance. Nonetheless, taxpayers must determine whether their virtual currency transactions are taxable and reportable.

    7 minute read

  • Sorenson Impact Found. v. Cont'l Stock Transfer & Trust Co.

    Publication Date: 2022-04-19
    Practice Area: Mergers and Acquisitions
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Eric D. Selden, Anthony M. Calvano, Ross Aronstam & Moritz LLP, Wilmington, DE; Cameron M. Hancock, Adam D. Wahlquist, Kirton McConkie, Salt Lake City, UT for plaintiffs.
    for defendant: Peter B. Ladig, Bayard, P.A., Wilmington, DE; Mark A. Harmon, Erin N. Teske, Hodgson Russ LLP, New York, NY; P. Clarkson Collins, Jr., K. Tyler O'Connell, Morris James LLP, Wilmington, DE; Anna Rotman, Kirkland & Ellis LLP, Houston, TX for defendants.

    Case Number: D69783

    The court, in this diverted merger consideration case, determined that defendant was not bound by a contract's forum selection clause because it was not a party to the contract and did not have sufficient contacts with Delaware to confer jurisdiction under the long-arm statute.

  • In re Pattern Energy Group Inc. Sec. Litig.

    Publication Date: 2022-04-12
    Practice Area: Securities Litigation
    Industry: Energy | Investments and Investment Advisory
    Court: U.S. District Court of Delaware
    Judge: District Judge Noreika
    Attorneys: For plaintiff: Sue L. Robinson, Brian E. Farnan, Michael J. Farnan, Farnan LLP, Wilmington, DE; Andrew J. Entwistle, Entwistle & Cappucci LLP, Austin, TX; Vincent R. Cappucci, Arthur V. Nealon, Brendan J. Brodeur, Jonathan H. Beemer, Jessica A. Margulis, Entwistle & Cappucci LLP, New York, NY; Marc M. Seltzer, Krysta Kauble Pachman, Susman Godfrey L.L.P., Los Angeles, CA for plaintiffs.
    for defendant: A. Thompson Bayliss, April M. Kirby, Abrams & Bayliss LLP, Wilmington, DE; Alan S. Goudiss, K. Mallory Brennan, Shearman & Sterling LLP, New York, NY; Christina E. Myrold, Shearman & Sterling LLP, San Francisco, CA for defendants.

    Case Number: D69781

    Motion to dismiss Exchange Act violations denied where plaintiffs plausibly alleged that defendant board had acknowledged that a competing merger offer constituted a better value and would provide stockholders with a higher price, and knew at the time of voting to approve another offer that the competing bidder was willing to continue discussing more favorable terms of merger.

  • Rogers v. Wilmington Trust Co.

    Publication Date: 2022-03-22
    Practice Area: Trusts and Estates
    Industry: Investments and Investment Advisory
    Court: U.S. Court of Appeals for the Third Circuit
    Judge: Judge Restrepo
    Attorneys: For plaintiff:
    for defendant:

    Case Number: D69750

    The court found that plaintiff waived fiduciary claims about certain investments through a direct statement of waiver, the issue of whether excess fees was allowed by the trust agreement was time-barred, plaintiff failed to state a claim for proximate cause regarding whether defendant should have provided tax planning to plaintiff, former trustee was allowed by the trust agreement to act as both trustee and advisor, and the exculpation clause prohibited the equitable fraud claim.