• April 11, 2022 | New York Law Journal

    Psychedelic Startups Set To Capitalize on Evolving Regulatory Landscape

    There has been an explosion of renewed interest in the psychedelic space, specifically in the medical application of psychedelic substances as a therapeutic treatment for mental and emotional disorder. This has caught the eye of some of the largest names in private equity, and investor enthusiasm is not going unnoticed.

    9 minute read

  • Equity-League Pension Trust Fund v. Great Hill Partners L.P.

    Publication Date: 2021-12-14
    Practice Area: Corporate Governance
    Industry: E-Commerce | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Corinne Elise Amato, Kevin H. Davenport, Jason W. Rigby, Prickett, Jones & Elliott, P.A., Wilmington, DE; Eric L. Zagar, Matthew C. Benedict, Kessler Topaz Meltzer & Check, LLP, Radnor, PA; Patrick C. Lynch, Lynch & Pine, Providence, RI, for plaintiff.
    for defendant: Paul J. Lockwood, Jenness E. Parker, Jacob J. Fedechko, Trevor T. Nielsen, Skadden, Arps, Slate, Meagher & Flom, Wilmington, DE; John L. Reed, Ronald N. Brown, III, Peter H. Kyle, Kelly L. Fruend, DLA Piper LLP (US), Wilmington, DE; Rudolf Koch, Matthew D. Perri, Andrew L. Milam, Richards, Layton & Finger, P.A., Wilmington, DE; Roberto M. Braceras, Caroline H. Bullerjahn, John A. Barker, Dylan E. Schweers, Goodwin Procter LLP, Boston, MA; Kurt M. Heyman, Gillian L. Andrews, Heyman Enerio Gattuso & Hir-zel, LLP, Wilmington, DE; Brandon F. White, Euripides Dalmanieras, Leah S. Rizkallah, Foley Hoag LLP, Boston, MA for defendants.

    Case Number: D69638

    The court held in this derivative suit that demand was not excused where there was no showing that at least five members of a nine-member board of directors were unable to consider a pre-suit demand. Motions to dismiss granted.

  • Drachman v. Cukier

    Publication Date: 2021-11-16
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Pharmaceuticals
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Brian E. Farnan, Michael J. Farnan, Farnan LLP, Wilmington, DE; Steven J. Purcell, Douglas E. Julie, Robert H. Lefkowitz, Anisha Mirchandani, Purcell Julie & Lefkowitz LLP, New York, NY for plaintiffs.
    for defendant: Blake Rohrbacher, Alexander M. Krischik, Richards, Layton & Finger, P.A., Wilmington, DE; Caroline H. Bullerjahn, Goodwin Procter LLP, Boston, MA; Peter B. Ladig, Brett M. McCartney, Bayard P.A., Wilmington, DE for defendants.

    Case Number: D69606

    The court held that plaintiffs' amended complaint satisfied pleading requirements for a claim of breach of fiduciary duty concerning board approval and implementation of charter amendments where 1) plaintiffs made a valid demand on the board to correct a violation and 2) the allegations supported an inference that the demand was wrongfully refused.

  • October 18, 2021 | Daily Business Review

    Slow Deal Week, But Dealmakers Lining Up to Avoid Next Year's Corporate Tax Increase

    Just five combinations cracked the $1 billion mark this week.

    11 minute read

  • Hawkins v. Daniel

    Publication Date: 2021-09-08
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Pharmaceuticals
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Richard I. G. Jones, Jr., John G. Harris, Berger Harris LLP, Wilmington, DE for plaintiff.
    for defendant: David J. Teklits, Sara Toscano, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Jeffrey Alan Simes, Goodwin Procter LLP, New York, NY for defendant.

    Case Number: D69526

    Court declined to dismiss case in favor of previously-filed action involving the parties, where the present case involved distinct issues and the previously-filed action was heading to trial, such that dismissing the present case would not serve judicial economy by forcing the previously-filed action to return to the pleadings stage.

  • CLP Toxicology, Inc. v. Casla Bio Holdings LLC

    Publication Date: 2021-07-07
    Practice Area: Mergers and Acquisitions
    Industry: Health Care | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Chancellor Wallace
    Attorneys: For plaintiff: Christopher Viceconte, Gibbons P.C., Wilmington, DE; Anthony J. Rospert, Thomas M. Ritzert, Thompson Hine LLP, Cleveland, OH; Heather M. Hawkins, Thompson Hine LLP, Cincinnati, OH for plaintiff.
    for defendant: Peter B. Ladig, Elizabeth A. Powers, Bayard, P.A., Wilmington, DE; Jordan D. Weiss, Allison R. Klein, Goodwin Procter LLP, New York, NY for defendant.

    Case Number: D69454

    Breach of earnout payment contractual provision counterclaim was dismissed where contract required arbitration of disputes over calculation and payment, which claims of diversion of funds to avoid triggering payment obligations fell under.

  • 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.

  • Laborers Local No. 231 Pension Fund v. Cowan

    Publication Date: 2020-12-16
    Practice Area: Class Actions
    Industry: Investments and Investment Advisory
    Court: U.S. Court of Appeals for the Third Circuit
    Judge: Judge Greenberg
    Attorneys: For plaintiff: Peter B. Andrews, David M. Sborz, Craig J. Springer, Andrews & Springer, Greenville, DE; Randall Baron, Joseph D. Daley, David T. Wissbroecker, Robbins Geller Rudman & Down, San Diego, CA; Christopher H. Lyons, Robbins Geller Rudman & Down, Nashville, TN for plaintiff.
    for defendant: Deborah S. Birnback, Jennifer B. Luz, Goodwin Procter, Boston, MA; David John Teklits, Morris Nichols Arsht & Tunnell, Wilmington, DE for defendant Cowan. Anne S. Gaza, Elena C. Norman, Robert M. Vrana, Young Conaway Stargatt & Taylor, Wilmington, DE for defendant LBT Merger Sub, Inc. Adam T. Humann, Kevin R. Powell, II, Kirkland Ellis, Washington, DC; Joshua Z. Rabinovitz, Kirkland Ellis, Chicago, IL for HIG Capital and Lionbridge Tech., Inc.

    Case Number: D69226

    Plaintiff in this class action suit failed to demonstrate the existence of a material misrepresentation, so the court affirmed the judgment in favor of defendants.

  • Gilbert v. Perlman

    Publication Date: 2020-05-13
    Practice Area: Mergers and Acquisitions
    Industry: E-Commerce | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Seth D. Rigrodsky, Brian D. Long and Gina M. Serra, Rigrodsky & Long, P.A., Wilmington, DE; Richard A. Maniskas, RM Law, P.C., Berwyn, PA for plaintiffs.
    for defendant: Rudolf Koch, Richards, Layton & Finger, P.A., Wilmington, DE; Deborah S. Birnbach and Morgan R. Mordecai of Goodwin Procter LLP for defendants.

    Case Number: D68977

    Minority stockholders did not form a control group with the majority stockholder, so they did not owe any fiduciary duties to plaintiffs. Motion to dismiss granted.

  • 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