• April 21, 2021 | Legaltech News

    Rocket Lawyer Raises $223 Million, Doubling Down on Consumer, Small Business Focus

    The online marketplace says it will use the new influx of capital to further expand and enhance its on-demand legal services.

    1 minute read

  • Fisher v. Sanborn

    Publication Date: 2021-04-14
    Practice Area: Corporate Governance
    Industry: Financial Services and Banking | E-Commerce | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Chancellor Bouchard
    Attorneys: For plaintiff: Blake A. Bennett, Cooch and Taylor, P.A., Wilmington, DE; Brian J. Robbins, Stephen J. Oddo, Emily R. Bishop, Robbins LLP, San Diego, CA for plaintiff.
    for defendant: A. Thompson Bayliss, Joseph A. Sparco, Abrams & Bayliss LLP, Wilmington, DE; James N. Kramer, Alexander K. Talarides, Orrick Herrington & Sutcliffe LLP, San Francisco, CA for defendants.

    Case Number: D69359

    Derivative complaint dismissed for failure to make pre-suit demand where lack of evidence that a majority of directors acted knowingly and deliberately in permitting the company to violate consumer protection laws or providing false and misleading information to the public meant that directors were exculpated from bad faith claims and therefore faced no substantial likelihood of personal liability and could independently evaluate a litigation demand.

  • Cooper v. Ruane Cunniff & Goldfarb Inc.

    Publication Date: 2021-03-11
    Practice Area: Dispute Resolution
    Industry: Investments and Investment Advisory
    Court: U.S. Court of Appeals for the Second Circuit
    Judge: Circuit Judge Susan Carney
    Attorneys: For plaintiff: For Plaintiff-Appellant: James E. Miller, Laurie Rubinow, Shepherd, Finkelman, Miller & Shah, LLP, Chester, CT, on the brief, Monique Olivier, Olivier Schreiber & Chao LLP, San Francisco, CA.
    for defendant: For Defendant-Appellee: Frank W. Olander, Minji Reem, on the brief, Robert J. Ward, Schulte Roth & Zabel LLP, New York, NY.

    Case Number: 17-2805

    ERISA Fiduciary Duty Breach Claim Is Not Related to Employment, Need Not Be Arbitrated

  • Columbus Life Ins. Co. v. Wilmington Trust Co.

    Publication Date: 2021-03-03
    Practice Area: Insurance Law
    Industry: Financial Services and Banking | Insurance | Investments and Investment Advisory
    Court: Delaware Superior Court
    Judge: Judge Wallace
    Attorneys: For plaintiff: Donald L. Gouge, Jr., Donald L. Gouge, Jr., LLC, Wilmington, DE; Michael J. Miller, Joseph M. Kelleher Philip J. Farinella, Cozen O’Connor, Philadelphia, PA for plaintiff.
    for defendant: Steven L. Caponi, Matthew B. Goeller, K&L Gates LLP, Wilmington, DE; Ari Ruben, Susman Godfrey LLP, New York, NY; Steven G. Sklaver, Susman Godfrey LLP, Los Angeles, CA for defendant.

    Case Number: D69312

    Although stranger-oriented life insurance policy holder could not maintain void policy under theories of estoppel or waiver, insurance company's acceptance of holder as owner and beneficiary and acceptance of payment of premiums could support fraud claim against insurer.

  • LCT Capital, LLC v. NGL Energy Partners LP

    Publication Date: 2021-02-10
    Practice Area: Damages
    Industry: Energy | Investments and Investment Advisory
    Court: Delaware Supreme Court
    Judge: Justice Montgomery-Reeves
    Attorneys: For plaintiff: Steven L. Caponi, K&L Gates, LLP, Wilmington, DE; Roger R. Crane, Thomas A. Warns, K&L Gates, LLP, New York, NY for plaintiff.
    for defendant: Steven T. Margolin, Samuel L. Moultrie, Greenberg Traurig, LLP, Wilmington, DE; Hal S. Shaftel, Obiamaka P. Madubuko, Daniel Friedman, Greenberg Traurig, LLP, New York, NY for defendants.

    Case Number: D69292

    The trial court properly ordered a new trial on quantum meruit damages, but it abused its discretion in or-dering a new trial regarding damages for fraud, because plaintiff presented a unified theory of recovery which did not support an independent basis for awarding fraud damages.

  • February 2, 2021 | Law.com

    Law Firms' Risk-Averse Culture Likely Keeps Them From Investing in Legal Tech Startups

    Lawyers' professional conduct rules and various corporate structuring options aren't the main roadblocks dissuading law firms from investing in legal tech companies. Instead, it's a perception that such investments don't fit the mold.

    1 minute read

  • January 29, 2021 | Legaltech News

    Don't Blame Business Models: Firms' Culture Likely Stalls Their Legal Tech Investments

    Lawyers' professional conduct rules and various corporate structuring options aren't the main roadblocks dissuading law firms from investing in legal tech companies. Instead, it's a perception that such investments don't fit the mold.

    1 minute read

  • Riskin v. Burns

    Publication Date: 2021-01-27
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor McCormick
    Attorneys: For plaintiff: Richard P. Rollo, Travis S. Hunter, Sarah A. Clark, Robert B. Greco, Angela Lam, Richards, Layton & Fin-ger, P.A., Wilmington, DE for plaintiff.
    for defendant: Brad D. Sorrels, Andrew D. Cordo, Daniyal M. Iqbal, Wilson Sonsini Goodrich & Rosati, P.C., Wilmington, DE; A. Thomspon Baylis, Adam K. Schulman, Abrams & Bayliss LLP, Wilmington, DE; Bruce A. Ericson, Sta-cie O. Kinser, Pillsbury Winthrop Shaw Pittman LLP, San Francisco, CA; David J. Teklits, Alexandra M. Cumings, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE for defendants.

    Case Number: D69274

    The court granted motions to dismiss with respect to one group of defendants because some of plaintiff's claims were time-barred, and plaintiff failed to allege sufficient facts to support the remaining claims against those particular defendants.

  • 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.

  • Lipman v. GPB Capital Holdings LLC

    Publication Date: 2020-12-02
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Marcus E. Montejo, Stephen D. Dargitz, Prickett, Jones & Elliott, P.A., Wilmington, DE; Chet B. Waldman, Adam J. Blander, Wolf Popper LLP, New York, NY for plaintiffs.
    for defendant: Patricia L. Enerio, Elizabeth A. DeFelice, Heyman Enerio Gattuso & Hirzel LLP, Wilmington, DE; Tab K. Rosenfeld, Steven M. Kaplan, Nicole E. Meyer. Rosenfeld & Kaplan, LLP, New York, NY for defendants GPB Capital Holdings LLC and nominal defendants GPB Holdings II, LP and GPB Automotive Portfolio, LP. Jacob R. Kirkham, Kobre & Kim LLP, Wilmington, DE; William McGovern, Leif T. Simonson, Kobre & Kim LLP, New York, NY for defendant Gentile. Michael W. McDermott, Richard I.G. Jones, Jr., Berger Harris LLP, Wil-mington, DE; Jeffrey Schreiber, Richard J. Jancasz, Meister Seelig & Fein LLP, New York, NY for defendant Schneider. David A. Felice, Bailey & Glasser, LLP, Wilmington, DE; Kevin D. Galbraith, Law Office of Kevin Galbraith, LLC, New York, NY for defendant Lash.

    Case Number: D69209

    Plaintiffs adequately stated claims for breach of fiduciary duty as to the controller and general partner of two limited partnerships.