• March 14, 2024 | Legaltech News

    DraftWise Announces $20 Million Investment, Plans to Expand Its Gen AI Contract Platform

    The new investment comes less than a year after DraftWise, which offers a generative AI-powered contract drafting, knowledge and collaboration platform, announced $5 million in seed funding.

    2 minute read

  • Murdick Capital Mgmt. L.P. v. QuarterNorth Energy Inc.

    Publication Date: 2024-03-11
    Practice Area: Mergers and Acquisitions
    Industry: Energy | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Bradley R. Aronstam, Roger S. Stronach, Benjamin M. Whitney, Ross Aronstam & Moritz LLP, Wilmington, DE; Jordan A. Goldstein, Lauren J. Zimmerman, Babak Ghafarzade, Selendy Gay PLLC, New York, NY for plaintiffs.
    for defendant: Blake Rohrbacher, Matthew W. Murphy, John M. O’Toole, Edmond S. Kim, Spencer V. Crawford, Margaret Rockey, Richards, Layton & Finger, P.A., Wilmington, DE; Harry P. Susman, Susman Godfrey L.L.P., Houston, TX; Thomas W. Briggs, Jr., Kirk Andersen, Morris Nichols Arsht & Tunnell LLP, Wilmington, DE; Andrew K. Glenn, Glenn Agre Bergman & Fuentes LLP, New York, NY for defendants.

    Case Number: 2024-0106-LWW

    Court declined to preliminarily enjoin invocation of drag-along rights where the invocation was not inconsistent with the terms of the proposed merger agreement or the minority securityholders' agreements and the minority could obtain monetary relief if the court ultimately found an improper invocation.

  • February 27, 2024 | The Legal Intelligencer

    Current Issues for Estate Planners: The CTA, Rising Interest Rates and More

    There are a number of prominent issues on the horizon for estate planners this year. In this article, we provide a brief overview of some of those issues, including the Corporate Transparency Act, rising interest rates, Pennsylvania recognition of irrevocable grantor trusts, pandemic-related probate delays and upcoming scheduled sunset of the historically large federal gift and estate tax exemption.

    6 minute read

  • Friddle v. Moehle

    Publication Date: 2024-02-19
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Thad J. Bracegirdle, Emily L. Skaug, Bayard, P.A., Wilmington, Delaware; Brian A. Katz, John G. Moon, Olshan Frome Wolosky LLP, New York, NY for plaintiffs.
    for defendant: Steve L. Caponi, Matthew B. Goeller, K&L Gates LLP, Wilmington, DE; Christopher M. Verdini, K&L Gates LLP, Pittsburgh, PA for defendants.

    Case Number: 2021-0306-SG

    Court interpreted the scope of the parties' joint waiver of their contractual mandatory arbitration provision to include only those claims the parties had asserted in their pleadings at the time they executed the waiver, so as to avoid an unintended waiver of bargained-for rights.

  • Jaroslawicz v. M&T Bank Corp.

    Publication Date: 2024-02-19
    Practice Area: Securities Litigation
    Industry: Financial Services and Banking | Investments and Investment Advisory
    Court: U.S. District Court of Delaware
    Judge: District Judge Wallach
    Attorneys: For plaintiff: Francis J. Murphy, Jr., Jonathan L. Parshall, Murphy, Spadaro & Landon, Wilmington, DE; Steven M. Coren, Benjamin M. Mather, Matthew R. Williams, Kauffman, Coren & Ress, P.C, Philadelphia, PA for plaintiffs.
    for defendant: Brian M. Rostocki, Anne M. Steadman, Justin M. Forcier, Reed Smith LLP, Wilmington, DE; Jonathan K. Youngwood, Janet A. Gochman, Tyler A. Anger, Katherine A. Hardiman, Simpson, Thacher & Bartlett, New York, NY; Kevin R. Shannon, Daniel Rusk, Potter Anderson & Corroon LLP, Wilmington, DE; Tracy Richelle High, Scott A. Foltz, Sullivan & Cromwell LLP, New York, NY for defendants.

    Case Number: 15-00897-EJW

    Although plaintiffs' experts' report in support of their damages theory for class certification used sufficiently reliable methodologies under the Daubert standard, the evidence was wholly speculative to demonstrate economic loss or proximate causation, such that plaintiffs could not meet the commonality or predominance standards.

  • Larian v. Momentus Inc.

    Publication Date: 2024-02-12
    Practice Area: Contracts
    Industry: Aerospace | Investments and Investment Advisory | Manufacturing
    Court: Delaware Superior Court
    Judge: Judge Davis
    Attorneys: For plaintiff: Dominick T. Gattuso, Elizabeth A. DeFelice, Gillian L. Andrews, Heyman Enerio Gattuso & Hirzel LLP, Wilmington, DE; Jonathan K. Cooperman, Kelly Drye & Warren LLP, New York, NY for plaintiff.
    for defendant: Joseph L. Christensen, Christensen & Dougherty LLP, Wilmington, DE; Perrie M. Weiner, Baker & McKenzie, LLP, Los Angeles, CA; Peter P. Tomczak, Michael D. Lehrman, Baker & McKenzie LLP, Chicago, IL for defendant.

    Case Number: N22C-07-133 EMD CCLD

    Court declined to resolve breach of contract claim on summary judgment where parties had material factual disputes over the contractual conditions precedent to payment.

  • Estate of Barotz v. Martha Barotz 2006-1 Ins. Trust

    Publication Date: 2024-01-08
    Practice Area: Insurance Law
    Industry: Insurance | Investments and Investment Advisory
    Court: Delaware Superior Court
    Judge: Judge Davis
    Attorneys: For plaintiff: Donald L. Gouge, Jr., Donald L. Gouge, Jr., LLC, Wilmington, DE for plaintiff.
    for defendant: Steven L. Caponi, Mathew B. Goeller, K&L Gates LLP, Wilmington, DE for defendants.

    Case Number: N20C-04-126 EMD CCLD

    Life insurance was void ab initio where parties without an insurable interest in the life of the decedent used Delaware statutory trusts to conceal the illegal nature of the policy and facilitate payment of policy premiums.

  • January 2, 2024 | Legaltech News

    Robin AI, a Gen AI Assistant for Contracts, Raises $26 Million

    Amid its growing expansion in the U.S., Robin AI, which closed on a series B funding round, is also setting its sights on the Asia legal market.

    4 minute read

  • Tatum v. Fairstead Affordable LLC

    Publication Date: 2024-01-01
    Practice Area: Corporate Entities
    Industry: Investments and Investment Advisory | Real Estate
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Thomas A. Uebler, Adam J. Waskie, Sarah P. Kaboly, McCollom D’Emilio Smith Uebler LLC, Wilmington, DE; Rudolf Koch, Richards, Layton & Finger, Wilmington, DE for plaintiffs.
    for defendant: Ryan D. Stottman, Thomas P. Will, Alec Hoeschel, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Michael B. Carlinsky, Rollo C. Baker, Jonathan E. Feder, Alison Y. Lo, Cohl K. Love, Stephanie Keleman, Quinn Emanuel Urquhart & Sullivan, LLP, New York, NY for defendants.

    Case Number: 2022-0970-JTL

    Court declined to dismiss breach of contract claim where the statute of frauds did not conclusively apply and where there were factual disputes over whether the work under the alleged contract fell within the scope of plaintiff's employment.

  • Saba Capital CEF Opportunities 1 LLC v. Nuveen Floating Rate Income Fund

    Publication Date: 2023-12-08
    Practice Area: Securities Litigation
    Industry: Investments and Investment Advisory
    Court: U.S. Court of Appeals for the Second Circuit
    Judge: Circuit Judge Richard C. Wesley
    Attorneys: For plaintiff: For Plaintiffs-Appellees: Jacob W. Buchdahl, Susman Godfrey LLP, New York, NY, on the brief, Mark P. Musico, Susman Godfrey LLP, New York, NY.
    for defendant: For Defendants-Appellants Nuveen Floating Rate Income Fund, Nuveen Floating Rate Income Opportunity Fund, Nuveen Short Duration Credit Opportunities Fund, Nuveen Global High Income Fund, and Nuveen Senior Income Fund: Parker Rider-Longmaid, Kyser Blakely, Skadden, Arps, Slate, Meagher & Flom LLP, Washington, DC; Scott Musoff, Boris Bershteyn, Skadden, Arps, Slate, Meagher & Flom LLP, New York, NY; Eben Colby, Emily Jennings, Skadden, Arps, Slate, Meagher & Flom LLP, Boston, MA, on the Brief, Shay Dvoretzky, Skadden, Arps, Slate, Meagher & Flom LLP, Washington, DC. For Defendants-Appellants Terence J. Toth, Jack B. Evans, William C. Hunter, Albin F. Moschner, John K. Nelson, Judith M. Stockdale, Carole E. Stone, Margaret L. Wolff, Robert L. Young, and Matthew Thornton III, in their capacity as Trustees of the Nuveen Trusts: Robert A. Skinner, Douglas Hallward-Driemeier, Amy D. Roy, Ropes & Gray LLP, Boston, MA. For Amicus Curiae The Investment Company Institute in Support of Defendants-Appellants: Susan Olson, Dorothy Donohue, Kenneth Fang, The Investment Company Institute, Washington, DC; Steven A. Engel, David A. Kotler, Michael H. McGinley, Dechert LLP, New York, NY. For Amicus Curiae Bulldog Investors, LLP in Support of Plaintiffs-Appellees: Aaron T. Morris, Andrew W. Robertson, Morris Kandinov LLP, New York, NY.

    Case Number: 22-407

    Firm's Bylaws Amendment Violates ICA as Restriction on Shareholders, Not on Shares