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Morrison v. Berry

Publication Date: 2020-06-17
Practice Area: Mergers and Acquisitions
Industry: Food and Beverage | Investments and Investment Advisory
Court: Court of Chancery
Judge: Vice Chancellor Glasscock
Attorneys: For plaintiff: Joel Friedlander, Jeffrey M. Gorris, Christopher P. Quinn and Bradley P. Lehman, Friedlander & Gorris, P.A., Wilmington, DE; Randall J. Baron and Christopher H. Lyons, Robbins Geller Rudman & Dowd LLP , San Diego, CA for plaintiff.
for defendant: Rudolf Koch, Matthew D. Perri and John M. O’Toole, Richards, Layton & Finger, P.A., Wilmington, DE; Adam L. Sisitsky, Lavinia M. Weizel, Robert I. Bodian and Scott A. Rader, Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, P.C., New York, NY and Boston, MA for independent director defendants. William B. Chandler III, Bradley D. Sorrels, Lindsay K. Faccenda and Daniyal M. Iqbal, Wilson Sonsini Goodrich & Rosati, P.C., Wilmington, DE for defendant Duggan. Patricia L. Enerio, Jamie L. Brown and Gillian L. Andrews, Heyman Enerio Gattuso & Hirzell LLP, Wilmington, DE for defendant Anicetti. Kevin G. Abrams, J. Peter Shindel, Jr. and Matthew L. Miller, Abrams & Bayliss LLP, Wilmington, DE; Matthew A. Schwartz and Joshua S. Levy, Sullivan & Cromwell LLP, New York, NY for J.P. Morgan defendants. William M. Lafferty, S. Mark Hurd, Thomas W. Briggs, Jr. and Elizabeth A. Mullin, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Stuart W. Gold and Richard W. Clary, Cravath, Swaine & Moore LLP, New York, NY for defendant Cravath, Swaine & Moore, LLP. Kevin R. Shannon and Matthew F. Davis, Potter, Anderson & Corroon LLP, Wilmington, DE; Jonathan Rosenberg and Abby F. Rudzin, O’Melveny & Myers LLP, New York, NY for Apollo defendants. John L. Reed, Peter H. Kyle and David Clarke, Jr., DLA Piper LLP., Wilmington, DE and Washington, DC for Berry defendants.
Case Number: D69017

Plaintiff adequately alleged an aiding and abetting claim against a financial advisor, but the court dismissed the other aiding and abetting claims.

In re Renren Inc. Derivative Litigation

Publication Date: 2020-06-02
Practice Area: Civil Procedure | Commercial Law
Industry: Investments and Investment Advisory
Court: Supreme Court, New York
Judge: Justice Andrew Borrok
Attorneys: For plaintiff:
for defendant:
Case Number: 653594/2018

Shareholder Action Makes Out Prima Facie Case Under 'Fraud on the Minority Exception'

Rubenstein v. Int'l Value Advisers LLC

Publication Date: 2020-05-27
Practice Area: Securities Litigation
Industry: Investments and Investment Advisory
Court: U.S. Court of Appeals for the Second Circuit
Judge: Circuit Judge Barrington Parker
Attorneys: For plaintiff: For Plaintiff-Appellant: David Lopez, Law Office of David Lopez, Southampton, NY, on the brief, Miriam Tauber, Miriam Tauber Law PLLC, New York, NY.
for defendant: For Defendants-Appellees: Robin Muir, on the brief, Dennis Henry Tracey, III, Hogan Lovells US LLP, New York, NY. For Nominal Defendant-Appellee: Susan Saltzstein, Skadden, Arps, Slate, Meagher & Flom LLP, New York, NY.
Case Number: 19-560-cv

Short-Swing Profits Denied Disgorgement; Advisor's Client Not Insider Group Member

In re: Keryx Biopharmaceuticals, Inc.

Publication Date: 2020-04-29
Practice Area: Securities Litigation
Industry: Biotechnology | Investments and Investment Advisory
Court: U.S. District Court of Delaware
Judge: District Judge Connolly
Attorneys: For plaintiff: Ryan M. Ernst, O’Kelly Ernst & Joyce, LLC, Wilmington, DE; Alexandra B. Raymond, Bragar Eagel & Squire, P.C., New York, NY; Richard A. Acocelli, Michael A. Rogovin and Kelly K. Moran, Weiss Law LLP, New York, NY for plaintiffs.
for defendant: David E. Ross, Ross, Aronstam & Moritz LLP, Wilmington, DE; Peter L. Welsh and Christian Reigstad, Ropes & Gray LLP, New York, NY for defendants.
Case Number: D68962

A proxy statement contained a disclaimer about certain financial projections, so the court dismissed plaintiffs' claims for viola-tions of securities law.

Maverick Therapeutics, Inc. v. Harpoon Therapeutics, Inc.

Publication Date: 2020-04-22
Practice Area: Contracts
Industry: Investments and Investment Advisory | Pharmaceuticals
Court: Court of Chancery
Judge: Vice Chancellor Glasscock
Attorneys: For plaintiff: : Jody C. Barillare, Morgan, Lewis & Bockius LLP, Wilmington, DE; Rollin B. Chippey II and Benjamin P. Smith, Morgan, Lewis & Bockius LLP, San Francisco, CA for plaintiff.
for defendant: John P. DiTomo, Elizabeth A. Mullin, and Aubrey J. Morin, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; John Ruskusky and Lisa C. Sullivan, Nixon Peabody, LLP, Chicago, IL for plaintiff-Intervenor. Gregory P. Williams, Steven J. Fineman, Nicole K. Pedi, and Angela Lam, Richards, Layton & Finger, P.A., Wilmington, DE; Martin S. Schenker and Benjamin H. Kleine, of Cooley, LLP, San Francisco, CA; Michelle S. Rhyu, Cooley, LLP, Palo Alto, CA for defendant.
Case Number: D68952

Defendant fraudulently induced plaintiff's investment into spin-out company by representing broad definition of transferred technology while knowingly limiting transfer to the spin-off and continuing to work on technology outside the narrow definition.

RCS Creditor Trust v. Schorsch

Publication Date: 2020-04-08
Practice Area: Discovery
Industry: Investments and Investment Advisory
Court: Court of Chancery
Judge: Vice Chancellor Glasscock
Attorneys: For plaintiff: Philip Trainer, Jr. and Marie M. Degnan, Ashby & Geddes, Wilmington, DE; John P. Coffey, Gregory A. Horowitz and Anna K. Ostrom, Kramer Levin Naftalis & Frankel, New York, NY for plaintiff.
for defendant: Elizabeth A. Sloan and Brittany M. Giusini of Ballard Spahr LLP, Wilmington, DE; Michael C. Miller, Evan Glassman, Michael G. Scavelli, Steptoe & Johnson LLP, New York, NY; Mark Murphy, Steptoe & Johnson LLP, Washington, DC for defendant Block. Daniel A. Mason, Paul, Weiss, Rifkind, Wharton & Garrison LLP, Wilmington, DE; Allan J. Arffa, Gregory F. Laufer and Jeremy A. Benjamin, Paul, Weiss, Rifkind, Wharton & Garrison LLP, New York, NY for remaining defendants.
Case Number: D68939

Communications between plaintiff's counsel and a third party were subject to the attorney-client privilege based on the com-mon interest doctrine. Motion to compel denied.

March 25, 2020 | New Jersey Law Journal

The Impact of the SECURE Act on Qualified and Non-Qualified Annuities

The Setting Every Community Up for Retirement Enhancement (SECURE) Act, which took effect Jan. 1, 2020, makes sweeping changes to rules applicable to certain employer sponsored tax-deferred defined contribution (qualified) plans and to traditional IRAs.

1 minute read

Bamford v. Penfold, L.P.

Publication Date: 2020-03-18
Practice Area: Corporate Governance
Industry: Investments and Investment Advisory
Court: Court of Chancery
Judge: Vice Chancellor Laster
Attorneys: For plaintiff: David J. Margules, Elizabeth A. Sloan, and Brittany M. Giusini, Ballard Spahr LLP, Wilmington, DE; Wallace G. Hilke, Mark S. Enslin, Ballard Spahr LLP, Minneapolis, MN; Jeffrey S. Cianciulli, Weir & Partners, Wilmington, DE; Peter N. Kessler, Kutak Rock LLP, Philadelphia, PA for plaintiffs.
for defendant: John G. Day, Prickett, Jones & Elliott, P.A., Wilmington, DE; Marc R. Rosen, Joshua K. Bromberg, Kleinberg, Kaplan, Wolff & Cohen, P.C., New York, NY; William B. Chandler III, Bradley D. Sorrels, Shannon E. German, Daniyal M. Iqbal, Wilson Sonsini Goodrich & Rosati, P.C., Wilmington, DE, attorneys for defendants.
Case Number: D68910

Derivative fraud and unjust enrichment claims dismissed as duplicative of plaintiffs' direct claims for breach of fiduciary duties and conversion.

Varga v. Gen. Elec. Co.

Publication Date: 2020-03-13
Practice Area: Employment Compliance
Industry: Investments and Investment Advisory
Court: U.S. District Court for the Northern District of New York, U.S. - NDNY
Judge: District Judge Gary Sharpe
Attorneys: For plaintiff: For the Plaintiff: Benjamin Aaron Kaplan, Esq., Charles J Crueger, Esq., Erin K. Dickinson, Esq., of Counsel, Crueger Dickinson LLC, Whitefish Bay, WI.
for defendant: Mitchell M. Breit, Esq., of Counsel, Simmons Hanly Conroy LLC, New York, NY. Eric D. Barton, Esq., Jonathan Kieffer, Esq., Tyler Hudson, Esq., of Counsel, Wagstaff & Cartmell, Kansas City, MO. For the Defendants: Nicholas J. D'ambrosio, Jr. Esq., Sanjeeve K. Desoyza, Esq., of Counsel, Bond, Schoeneck & King, PLLC, Albany, NY. Jaime Santos, Esq., Goodwin Procter Law Firm, Washington, DC. James Fleckner, Esq., of Counsel Boston, MA.
Case Number: 1:18-cv-1449

Dismissal of Fiduciary Duty Breach Claims as to GE Stock Fund Price Is Explained

Great Hill Equity Partners IV, LP v. SIG Growth Equity Management, LLC

Publication Date: 2020-03-11
Practice Area: Deals and Transactions
Industry: Investments and Investment Advisory
Court: Court of Chancery
Judge: Vice Chancellor Glasscock
Attorneys: For plaintiff: Rudolf Koch, Robert L. Burns and Megan E. O’Connorm, 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 and Jessica A. Hartwell, Wilson Sonsini Goodrich & Rosati, P.C., Wilmington, DE; Mark A. Kirsch, Scott A. Edelman, Aric H. Wu, Laura K. O’Boyle and Peter Wade, Gibson, Dunn & Crutcher LLP, New York, NY for SIG defendants. Lewis H. Lazarus, Marris James LLP, Wilmington, DE; Peter N. Flocos and Joanna A. Diakos, K&L Gates LLP, New York, NY for defendants Herzog and Kleinberg. David S. Eagle, Sean M. Brennecke, Michael K. Coran, William T. Hill, Monica Clarke Platt and Gregory R. Sellers, Klehr Harrison Harvey Branzburg LLP, Wilmington, DE and Philadelphia, PA for defendants Tal and Itshayek.
Case Number: D68905

Although plaintiff prevailed on certain claims with respect to the question of liability, the court awarded no damages. Plain-tiff's evidence for damages was speculative and impossible to allocate.