• Valhalla Partners II L.P. v. Vistar Media, Inc.

    Publication Date: 2025-02-04
    Practice Area: Creditors' and Debtors' Rights
    Industry: Advertising | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Steven L. Caponi, Matthew B. Goeller, K&L Gates LLP, Wilmington, DE for plaintiff.
    for defendant: Rudolf Koch, John M. O’Toole, Richards, Layton & Finger, P.A., Wilmington, DE for defendant.

    Case Number: 2019-0202-SG

    Court declined to grant relief in equity where there was no evidence that defendant had made a definite promise, through statements or actions, to plaintiffs that defendant would undergo an equity financing that would trigger conversion of plaintiffs' notes into equity, and the express terms of the notes required repayment in cash at maturity.

  • Pacira Biosciences, Inc. v. Fortis Advisors LLC

    Publication Date: 2025-02-04
    Practice Area: Mergers and Acquisitions
    Industry: Health Care | Investments and Investment Advisory | Pharmaceuticals
    Court: Court of Chancery
    Judge: Vice Chancellor Fioravanti
    Attorneys: For plaintiff: Lisa A. Schmidt, Raymond J. DiCamillo, Kevin M. Kidwell, Richards, Layton & Finger, P.A., Wilmington, DE; Anne Champion, Zainab Ahmad, Timothy Sun, Maya Danaher, Gibson, Dunn & Crutcher LLC, New York, NY for plaintiffs.
    for defendant: Lauren K. Neal, Courtney Kurz, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Christopher J. Marino, Taylor P. Lovejoy, Davis Malm & D’Agostine, P.C., Boston, MA for defendant.

    Case Number: 2020-0694-PAF

    Court granted declaratory judgment for plaintiffs where extrinsic evidence demonstrated that the parties intended to use national reimbursement rates and for alternative CPT codes to only apply when used and effective for acquired company's product.

  • Star Am. Rail Holdco, LLC v. Carthcart

    Publication Date: 2024-12-31
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Transportation
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Raymond J. DiCamillo, Kevin M. Gallagher, Andrew L. Milam, Kaitlyn R. Cannan, Richards, Layton & Finger, P.A., Wilmington, DE; Laura K. O’Boyle, Nathan C. Strauss, Zachary R. Edelman, Gibson, Dunn & Crutcher LLP, New York, NY; Colin B. Davis, Gibson, Dunn & Crutcher LLP, Irvine, CA for plaintiff.
    for defendant: Jennifer R. Hoover, Andrew D. Kinsey, Benesch, Friedlander, Coplan & Aronoff, LLP, Wilmington, DE; Andrew G. Fiorella, Alyssa A. Moscarino, Benesch, Friedlander, Coplan & Aronoff, LLP, Cleveland, OH; Tyler J. Leavengood, Charles Wood, Potter Anderson & Corroon LLP, Wilmington, DE for defendants.

    Case Number: 2024-0883-LWW

    LLC operating agreement's provision giving investor unilateral right to replace CEO for poor EBITDA did not conflict with other provisions regarding member consents, meaning investor validly replaced plaintiff as CEO.

  • Tornetta v. Musk

    Publication Date: 2024-12-31
    Practice Area: Corporate Governance
    Industry: Automotive | Investments and Investment Advisory | Manufacturing
    Court: Court of Chancery
    Judge: Chancellor McCormick
    Attorneys: For plaintiff: Gregory V. Varallo, Daniel E. Meyer, Bernstein Litowitz Berger & Grossmann LLP, Wilmington, DE; Peter B. Andrews, Craig J. Springer, David M. Sborz, Jackson E. Warren, Andrews & Springer LLC, Wilmington, DE; David E. Ross, Garrett B. Moritz, Thomas C. Mandracchia, Ross Aronstam & Moritz LLP, Wilmington, DE; Catherine A. Gaul, Randall J. Teti, Ashby & Geddes, P.A., Wilmington, DE; John L. Reed, Ronald N. Brown, III, Caleb G. Johnson, Daniel P. Klusman, DLA Piper LLP (US), Wilmington, DE; Christine M. Mackintosh, Grant & Eisenhofer, P.A., Wilmington, DE; Daniel A. Griffith, Whiteford Taylor & Preston LLC, Wilmington, DE for plaintiff.
    for defendant: William M. Lafferty, Susan W. Waesco, Ryan D. Stottmann, Miranda N. Gilbert, Jacob M. Perrone, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Rudolf Koch, John D. Hendershot, Kevin M. Gallagher, Andrew L. Milam, Richards, Layton & Finger, P.A., Wilmington, DE; A. Thompson Bayliss, Adam K. Schulman, Eliezer Y. Feinstein, Abrams & Bayliss LLP, Wilmington, DE; David S. Eagle, Sally E. Veghte, Klehr Harrison Harvey Branzburg LLP, Wilmington, DE; Anthony A. Rickey, Margrave Law LLC, Wilmington, DE; Theodore A. Kittila, Halloran Farkas + Kittila LLP, Wilmington, DE for defendants.

    Case Number: 2018-0408-KSJM

    Court limited other stockholders' motions to intervene to appealing the court's opinion letter where broader intervention could undermine the finality of the case and the stockholders' interest were adequately represented by the named plaintiff in the class action.

  • Valhalla Partners II, L.P. v. Vistar Media, Inc.

    Publication Date: 2024-12-24
    Practice Area: Securities Litigation
    Industry: Advertising | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Steven L. Caponi, Matthew B. Goeller, K&L Gates LLP, Wilmington, DE; Neil T. Smith, Jennifer J. Nagle, K&L Gates LLP, Boston, MA for plaintiffs.
    for defendant: Rudolf Koch, John M. O’Toole, Richards, Layton & Finger, P.A., Wilmington, DE; A. Matthew Boxer, Rebecca J. Ryan, Lowenstein Sandler LLP, New York, NY for defendant.

    Case Number: 2019-0202-SG

    Extrinsic evidence did not support interpreting or reforming the contractual language of the parties' convertible notes where the record demonstrated that plaintiffs refused automatic conversion of their notes and instead agreed to a provision merely entitling them to repayment of the debt.

  • December 19, 2024 | Legaltech News

    Legal Tech Startups That Google-backed Venture Firms Invested in Throughout 2024

    Google Ventures and Gradient Ventures made numerous investments toward legal tech startups over the course of 2024.

    1 minute read

  • Singh v. Deloitte LLP

    Publication Date: 2024-12-19
    Practice Area: Banking and Finance Laws
    Industry: Financial Services and Banking | Investments and Investment Advisory
    Court: U.S. Court of Appeals for the Second Circuit
    Judge: Chief Judge Debra Ann Livingston
    Attorneys: For plaintiff: For Plaintiffs-Appellants: Mark K. Gyandoh, Capozzi Adler, P.C., Merion Station, PA.
    for defendant: For Defendants-Appellees: Jared R. Killeen, on the brief, Morgan, Lewis & Bockius LLP, Philadelphia, PA, Michael E. Kenneally, Morgan, Lewis & Bockius LLP, Washington, DC.

    Case Number: 23-110

    Retirement Plan's Fees Not Shown To Be Excessive, Fiduciary Duty Not Shown Breached

  • Enhabit, Inc. v. Nautic Partners IX, L.P.

    Publication Date: 2024-12-17
    Practice Area: Corporate Governance
    Industry: Health Care | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Srinivas M. Raju, Matthew D. Perri, Kyle H. Lachmund, Mari Boyle, Richards, Layton & Finger, P.A., Wilmington, DE; William Savitt, Sarah K. Eddy, Andrew J.H. Cheung, Brittany A. Fish, Daniel B. Listwa, Min K. Lobb, Wachtell, Lipton, Rosen & Katz, New York, NY; Matthew H. Lembke, Zachary Madonia, Savannah Kolodziej, Bradley Arant Boult Cummings LLP, Birmingham, AL for plaintiffs.
    for defendant: Lewis H. Lazarus, Albert J. Carroll, Barnaby Grzaslewicz, Samuel E. Bashman, Morris James LLP, Wilmington, DE; John F. Hartmann, Gabor Balassa, Timothy W. Knapp, Britt Cramer, Kirkland & Ellis LLP, Chicago, IL; Kenneth J. Nachbar, Megan Ward Cascio, Alexandra M. Cumings, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Bruce Sperling, Eamon P. Kelly, Sperling & Slater, LLC, Chicago, IL for defendants.

    Case Number: 2022-0837-LWW

    Although defendants were clearly liable for breaches of the duty of loyalty and aiding and abetting, because defendants' competing venture was not yet profitable, the appropriate remedy was to establish a constructive trust entitling plaintiffs to an equitable payment stream from any future gains defendants earned from their venture.

  • Bold St. Peters, L.P. v. Bold on Boulevard LLC

    Publication Date: 2024-12-03
    Practice Area: Corporate Governance
    Industry: Financial Services and Banking | Investments and Investment Advisory | Real Estate
    Court: Court of Chancery
    Judge: Vice Chancellor Zurn
    Attorneys: For plaintiff: Jesse L. Noa, Charles R. Hallinan, Potter Anderson & Corroon LLP, Wilmington, DE; Aaron L. Casagrande, Michael P. Collins, Jr., Aaron A. Nichols, Ice Miller LLP, Baltimore, MD; John D. French, Ice Miller LLP, Indianapolis, IN for plaintiff.
    for defendant: Steven L. Caponi, Michael J. Vail, K&L Gates LLP, Wilmington, DE; Kartik R. Singapura, Nathan Cox, Mason G. Jones, Laura K. Lavernia, Bell Nunnally & Martin LLP, Dallas, TX for defendants.

    Case Number: 2024-0653-MTZ

    LLC member had contractual right to withhold its consent to loan modification, such that the company's default under the loan entitled member to remove and replace managing member under the terms of the operating agreement.

  • November 7, 2024 | Corporate Counsel

    What to Expect From the SEC Under Trump 2.0

    "While the issues of what's in the best interest of an investor will continue to be important, we won't see as much energy put behind trying to expand those obligations beyond the regulatory frameworks that already exist," said Jennifer Klass, a partner at K&L Gates.

    5 minute read