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  • November 12, 2021 | The Recorder

    Ex-Microsemi CEO Seeks New Fraud Claims Over Failed Tech Company Investment

    A judge has twice denied terminating sanctions requested by the defense, though she recently approved dueling sanctions motions.

    5 minute read

  • Pacira Biosciences, Inc. v. Fortis Advisors LLC

    Publication Date: 2021-11-09
    Practice Area: Mergers and Acquisitions
    Industry: Biotechnology | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Fioravanti
    Attorneys: For plaintiff: Lisa A. Schmidt, Raymond J. DiCamillo, Megan E. O’Connor, Richards, Layton & Finger, P.A., Wilmington, DE; Randy M. Mastro, Declan T. Conroy, Gibson, Dunn & Crutcher LLP, New York, NY for plaintiffs.
    for defendant: R. Judson Scaggs, Jr., Lauren K. Neal, Sarah P. Kaboly, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Christopher J. Marino, Davis Malm & D’agostine, P.C., Boston, MA; Henry E. Gallagher, Jr., Shaun Michael Kelly, Jarrett W. Horowitz, Connolly Gallagher LLP, Wilmington, DE for defendants.
    Case Number: D69603

    Claims that former owners and employees of acquired company improperly interfered with acquirer's operation of the business were dismissed where the parties' merger agreement contained no express non-compete/non-interference language and defendants' cited actions did not rise to the level of bad faith interference or communication with the acquirer's employees.

  • November 3, 2021 | Corporate Counsel

    Shifting Sands: ESG Disclosure Considerations Impacting Public Companies

    This article highlights key process considerations public companies can assess as they approach ESG disclosures in this uncertain environment.

    6 minute read

  • October 22, 2021 | New York Law Journal

    Direct IRA Transfers to Charities: Taxwise Philanthropy

    In this edition of his Estate Planning and Philanthropy column, Conrad Teitell writes that now is the time for lawyers to tell their clients about direct IRA transfers from IRAs by individuals 70½ or older.

    7 minute read

  • Genworth Fin., Inc. Consol. Derivative Litig.

    Publication Date: 2021-10-13
    Practice Area: Corporate Governance
    Industry: Insurance | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: P. Bradford deLeeuw, deLeeuw Law LLC, Wilmington, DE; David R. Scott, Scott+Scott Attorneys at Law LLP, Colchester, CT; Thomas L. Laughlin IV, Scott Jacobsen, Scott+Scott Attorneys at Law LLP, New York, NY; Robert C. Schubert, Willem F. Jonckheer, Dustin L. Schubert, Schubert Jonckheer & Kilbe LLP, San Francisco, CA; Robert B. Weiser, James M. Ficaro, The Weiser Law Firm P.C., Berwyn, PA; Brett D. Stecker, Shuman, Glenn & Stecker, Ardmore, PA; Michael I. Fistel, Jr., Johnson & Weaver, LLP, Marietta, GA; Corey D. Holzer, Holzer & Holzer, LLC, Atlanta, GA for plaintiffs.
    for defendant: Srinivas M. Raju, Richards, Layton & Finger, P.A., Wilmington, DE; Greg A. Danilow, Caroline Hickey Zalka, John A. Neuwirth, Evert J. Christensen, Jr., Amanda K. Pooler, Weil, Gotshal & Manges LLP, New York, NY for defendants.
    Case Number: D69571

    Plaintiffs in this derivative action failed to adequately plead demand futility and they also failed to allege claims for breach of fiduciary duty against officers and directors, so the court granted defendants' motions to dismiss.

  • Brookfield Asset Mgmt., Inc. v. Rosson

    Publication Date: 2021-10-06
    Practice Area: Corporate Entities
    Industry: Investments and Investment Advisory
    Court: Delaware Supreme Court
    Judge: Justice Valihura
    Attorneys: For plaintiff: Kevin G. Abrams, Eric A. Veres, Stephen C. Childs, Abrams & Bayliss LLP, Wilmington, DE; John A. Neuwirth, Stefania D. Venezia, Amanda K. Pooler, Weil, Gotshal & Manges LLP, New York, NY for appellants.
    for defendant: Ned Weinberger, Derrick Farrell, Mark Richardson, Labaton Sucharow LLP, Wilmington, DE; Peter B. Andrews, Craig J. Springer, David M. Sborz, Andrews & Springer LLC, Wilmington, Delaware; Steven J. Purcell, Douglas E. Julie, Robert H. Lefkowitz, Kaitlyn T. Devenyns, Purcell Julie & Lefkowitz LLP, New York, NY; Jeremy S. Friedman, David F.E. Tejtel, Friedman Oster & Tejtel PLLC, Bedford Hills, NY for appellees.
    Case Number: D69560

    Court overruled the Gentile carve-out doctrine where it created analytical tension with Tooley and other legal doctrines permitted stockholders to pursue direct claims for fiduciary breaches.

  • GMF ELCM Fund L.P. v. ELCM HCRE GP LLC

    Publication Date: 2021-10-06
    Practice Area: Contractual Disputes
    Industry: Health Care | Investments and Investment Advisory | Real Estate
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Daniel E. Ross, Bradley R. Aronstam, Ross Aronstam & Moritz, Wilmington, DE; Joshua S. Amsel, Matthew R. Friedenberg, Weil, Gotshal & Manges LLP, New York, NY for plaintiffs.
    for defendant: Joseph H. Huston, Jr., Stevens & Lee P.C., Wilmington, DE; Robert K. Keach, Bernstein, Shur, Sawyer & Nelson, Portland, ME for receiver. Ryan P. Newell, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE for nominal defendants.
    Case Number: D69561

    Claimant was entitled to indemnification of his litigation expenses, and the court granted his motion to intervene because he had a valid property interest which was not adequately protected by existing parties.

  • September 30, 2021 | Daily Business Review

    Holland & Knight, in Verified Class Action Lawsuit Against ROFX.net, Aims to Recover Over $50M

    The company touted itself on mainstream media outlets, such as Facebook and Google, with advertisements, including promoting "Warren Buffet's interest in investing in ROFX."

    3 minute read

  • In re: Zohar III, Corp.

    Publication Date: 2021-09-08
    Practice Area: Bankruptcy
    Industry: Investments and Investment Advisory
    Court: U.S. District Court of Delaware
    Judge: District Judge Noreika
    Attorneys: For plaintiff: Norman L. Pernick, G. David Dean, Patrick J. Reilley, Cole Schotz, PC, Wilmington, DE; Monica K. Loseman, Gibson, Dunn & Crutcher LLP, Denver, CO; Randy M. Mastro, Akiva Shapiro, Michael L. Nadler, Gibson, Dunn & Crutcher LLP, New York, NY; Michael G. Farag, Gibson, Dunn & Crutcher LLP, Los Angeles, CA for appellant.
    for defendant: James L. Patton, Jr., Robert S. Brady, Michael R. Nestor, Joseph M. Barry, Ryan M. Bartley, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE for debtors.
    Case Number: D69533

    Bankruptcy court properly interpreted a disputed term based on the plain language of the contract itself, so extrinsic evidence was not necessary.

  • Kokoshka v. The Investment Advisory Comm. of Columbia Univ.

    Publication Date: 2021-08-31
    Practice Area: Employment Litigation
    Industry: Education | Investments and Investment Advisory
    Court: U.S. District Court for the Southern District of New York
    Judge: District Judge John Cronan
    Attorneys: For plaintiff:
    for defendant:
    Case Number: 19 Civ. 10670

    Plaintiff Fails to Show Breach of Fiduciary Duty in ERISA Claim Against Investment Advisor