• In re GGP, Inc. Stockholder Litig.

    Publication Date: 2022-08-02
    Practice Area: Mergers and Acquisitions
    Industry: Investments and Investment Advisory | Real Estate
    Court: Delaware Supreme Court
    Judge: Justice Traynor
    Attorneys: For plaintiff: Michael Hanrahan, Ronald A. Brown, Jr., Stephen D. Dargitz, J. Clayton Athey, Marcus E. Montejo, Samuel L. Closic, Prickett Jones & Elliott, P.A., Wilmington, DE; Carl L. Stine, Adam J. Blander, Antoinette Adesanya, Wolf Popper LLP, New York, NY; Brian D. Long, Long Law, LLC, Wilmington, DE; Frank P. DiPrima, Law Office of Frank DiPrima, P.A., Morristown, NJ for appellants.
    for defendant: Kevin G. Abrams, John M. Seaman, Matthew L. Miller, Abrams & Bayliss LLP, Wilmington, DE; John A. Neuwirth, Evert J. Christensen, Jr., Seth Goodchild, Matthew S. Connors, Nicole E. Prunetti, Weil, Gotshal & Manges LLP, New York, NY; Peter J. Walsh, Jr., Berton W. Ashman, Jr., and Jaclyn C. Levy, Potter Anderson & Corroon LLP, Wilmington, DE; Peter E. Kazanoff, Michael J. Garvey, Sara A. Ricciardi, Simpson Thacher & Bartlett LLP, New York, NY; Raymond J. Dicamillo, Susan M. Hannigan, Richards, Layton & Finger, Wilmington, DE; Brian T. Frawley, Y. Carson Zhou, Sullivan & Cromwell LLP, New York, NY; David J. Teklits, Thomas P. Will, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE for appellees.

    Case Number: D69905

    Dividing merger transaction into substantial pre-closing dividend and meager "per share merger consideration" did not frustrate stockholders' appraisal rights since dividend legally constituted merger consideration.

  • In re: ASHINC Corp.

    Publication Date: 2022-07-26
    Practice Area: Bankruptcy
    Industry: Investments and Investment Advisory
    Court: U.S. District Court of Delaware
    Judge: District Judge Connolly
    Attorneys: For plaintiff: Laura Davis Jones, David M. Bertenthal, Peter J. Keane, Pachulski Stang Ziehl & Jones LLP, Wilmington, DE; Patricia L. Glaser, Gali Grant, Matthew P. Bernstein, Glaser Weil Fink Howard Avchen & Shapiro LLP, Los Angeles, CA for appellants.
    for defendant: Seth A. Niederman, Fox Rothschild LLP, Wilmington, DE; Gregory P. Joseph, Douglas J. Pepe, Gila S. Singer, Joseph Hage Aaronson LLC, New York, NY; Jeffrey H. Zaiger, Judd A. Lindenfeld, Zaiger LLC, Stamford, CT for appellee.

    Case Number: D69895

    District court accepted bankruptcy court's proposed findings of fact and conclusions of law in non-core breach of contract claim where defendant failed to cite evidence creating a genuine issue of material fact as to each of defendant's alleged breaches of a first lien credit agreement, including with respect to the measure of damages.

  • In Re Multiplan Corp. Stockholders' Litig.

    Publication Date: 2022-01-18
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Gregory V. Varallo, Bernstein Litowitz Berger & Grossmann LLP, Wilmington, DE; Mark Lebovitch, Daniel E. Meyer, Margaret Sanborn- Lowing, Joseph W. Caputo, Bernstein Litowitz Berger & Grossmann LLP, New York, NY for plaintiffs.
    for defendant: Raymond J. DiCamillo, Kevin M. Gallagher, Matthew D. Perri, Richards, Layton & Finger, P.A., Wilmington, DE; Jonathan K. Youngwood, Rachel S. Sparks Bradley, Simpson Thacher & Bartlett LLP, New York, NY; Stephen P. Blake, Simpson Thacher & Bartlett LLP, Palo Alto, CA; Bradley R. Aronstam, S. Michael Sirkin, Ross Aronstam & Moritz LLP, Wilmington, DE; John A. Neuwirth, Joshua S. Amsel, Evert J. Christensen, Jr., Matthew S. Connors, Nicole E. Prunetti, Weil, Gotshal & Manges LLP, New York, NY for defendants.

    Case Number: D69679

    The court found that plaintiff's claim was direct, not derivative, the claims were not exclusively contractual, and that the claims were not holder claims predicated on stockholder inaction.

  • 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.

  • In re TerraForm Power, Inc. Stockholders Litig.

    Publication Date: 2020-11-18
    Practice Area: Corporate Governance
    Industry: Energy | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Ned Weinberger, Derrick Farrell, Mark Richardson, Labaton Sucharow LLP, Wilmington, DE; Peter B. Andrews, Craig J. Springer, Davis M. Sborz, Andrews & Springer LLC, Wilmington DE; Jeremy S. Friedman, David F.E. Tejtel, Friedman Oster & Tejtel PLLC, Bedford Hills, NY; Steven J. Purcell, Douglas E. Julie, Robert H. Lefkowitz, Kaitlyn T. Devenyns, Purcell Julie & Lefkowitz LLP, New York, NY for plaintiffs.
    for defendant: 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; Brian C. Ralston, Seth R. Tangman, Caneel Radinson-Blasucci, Potter Anderson & Corroon LLP, Wilmington, DE; Daniel M. Sullivan, Holwell Shuster & Goldberg LLP, New York, NY for defendants.

    Case Number: D69192

    Court declined to disregard precedent set forth in Gentile v. Rosette where present case involved, as it did in Gentile, a corporate controller's actions to cause the corporation to issue stock for insufficient consideration such that the controller could increase its stake in the company at the expense of the public minority stockholders, allowing those stockholders to pursue direct claims.

  • In re: HomeFed Corp. Stockholder Litig.

    Publication Date: 2020-07-29
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Real Estate
    Court: Court of Chancery
    Judge: Chancellor Bouchard
    Attorneys: For plaintiff: Peter B. Andrews, Craig J. Springer and David M. Sborz, Andrews & Springer LLC, Wilmington, DE; Jeremy S. Friedman and David F.E. Tejtel, Friedman Oster & Tejtel PLLC, Bedford Hills, NY; Ned Weinberger, John Vielandi and David MacIsaac, Labaton Sucharow LLP, Wilmington, DE and New York, NY; D. Seamus Kaskela, Kaskela Law LLC, Newtown Square, PA for plaintiffs.
    for defendant: S. Mark Hurd and Alexandra M. Cumings, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; John P. Stigi III and Kristin P. Housh, Sheppard, Mullin, Richter & Hampton LLP, Los Angeles, CA and San Diego, CA for defendants Bienvenue and Borden. Bradley R. Aronstam and S. Michael Sirkin, Ross Aronstam & Moritz LLP, Wilmington, DE; Joseph S. Allerhand, Evert J. Christensen Jr. and Elizabeth M. Sytsma, Weil, Gotshal & Manges LLP, New York, NY for defendants Friedman, Hallac, Steinberg and Jeffries Fin. Group Inc.

    Case Number: D69065

    Plaintiffs' complaint adequately stated a claim for breach of fiduciary duty in connection with this minority squeeze-out transaction. Motions to dismiss denied.

  • July 10, 2020 | Daily Business Review

    Latin America M&A Activity Crashes to Record Lows in Pandemic

    Deal value hit its lowest level since Mergermarke began tracking transactions in the region, while three global law firms rose to the top based on price.

    1 minute read

  • January 31, 2020 | Legaltech News

    Orrick Becomes Third Big Law Firm to Invest in Reynen Court's App Store

    Orrick's investment was made public Thursday, the day before Reynen Court announced its own commercial release, exiting the beta period that was launched last August.

    1 minute read