• February 18, 2025 | New York Law Journal

    Simpson Thacher Boosts Registered Funds Practice

    In addition to adding four partners from Willkie Farr & Gallagher, Simpson Thacher added on a fifth registered funds partner from Alston & Bird last week.

    1 minute read

  • 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

  • L-5 Healthcare Partners, LLC v. Alphatec Holdings, Inc.

    Publication Date: 2024-09-03
    Practice Area: Contracts
    Industry: Financial Services and Banking | Biotechnology | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Cook
    Attorneys: For plaintiff: William M. Lafferty, D. McKinley Measley, Thomas P. Will, Alexandra M. Cumings, Morris Nichols Arsht & Tunnell LLP, Wilmington, DE; Antonio Yanez, Jr., Brady Sullivan, Willkie Farr & Gallagher LLP, New York, NY; Alexander L. Cheney, Willkie Farr & Gallagher LLP, San Francisco, CA for plaintiff.
    for defendant: Philip A. Rovner, Potter Anderson & Corroon LLP, Wilmington, DE; Krista M. Enns, Edward C. Wipper, Benesch Friedlander Coplan & Aronoff LLP, New York, NY for defendant.

    Case Number: 2019-0412-NAC

    Court enforced contractual specific remedy provision where breaching party offered no persuasive argument for disregarding the clause and ordered the breaching party to perform at the value the warrant to purchase shares had at the time of its breach.

  • Goldstein v. Denner

    Publication Date: 2024-02-05
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Kevin H. Davenport, John G. Day, Jason W. Rigby, Prickett, Jones & Elliot P.A., Wilmington, DE; R. Bruce McNew, Cooch & Taylor P.A., Wilmington, DE; Christopher H. Lyons, Robbins Geller Rudman & Dowd LLP, Wilmington; DE; Randall J. Baron, Rick T. Atwood, Robbins Geller Rudman & Dowd LLP, San Diego, CA; Brett Middleton, Johnson Fistel, LLP, New York, NY for plaintiff.
    for defendant: Stephen E. Jenkins, Richard D. Heins, Ashby & Geddes, P.A., Wilmington, DE; Tariq Mundiya, Sameer Advani, Richard Li, M. Annie Houghton-Larsen, Willkie Farr & Gallagher LLP, New York, NY for defendants.

    Case Number: 2020-1061-JTL

    Court imposed sanctions in the form of a factual presumption on a key issue, which defendants could only rebut with clear and convincing evidence, after defendants admittedly took no action to preserve electronically stored information in response to litigation hold notices.

  • City of Hialeah Employees' Ret. Sys. v. Insight Venture Partners, LLC

    Publication Date: 2024-01-08
    Practice Area: Mergers and Acquisitions
    Industry: Financial Services and Banking | Investments and Investment Advisory | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Zurn
    Attorneys: For plaintiff: Thomas Curry, Tayler D. Bolton, Saxena White P.A., Wilmington, DE; David Wales, Saxena White P.A., White Plains, NY; Adam Warden, Saxena White P.A., Boca Raton, FL; Peter B. Andrews, Craig J. Springer, David M. Sborz, Andrew J. Peach, Jackson E. Warren, Jacob D. Jeifa, Wilmington, DE, Andrews & Springer LLC for plaintiff.
    for defendant: Garrett B. Moritz, S. Reiko Rogozen, Ross Aronstam & Moritz LLP, Wilmington, DE; Steven M. Farina, George A. Borden, Brian T. Gilmore, Williams & Connolly LLP, Washington, DC; William M. Lafferty, Ryan D. Stottmann, Rachel R. Tunney, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Tariq Mundiya, Jeffrey B. Korn, Richard Li, Ciara A. Sisco, Willkie Farr & Gallagher LLP, New York, NY for defendants.

    Case Number: 2022-0846-MTZ

    Plaintiff failed to plead demand futility for derivative complaint where controller's ability to remove board members by itself could not establish a lack of independence and a majority of the board's financial ties did not prevent them from exercising independent judgment.

  • Constr. Indus. Laborers Pension Fund v. Bingle

    Publication Date: 2022-09-20
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Software
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Michael J. Barry, Vivek Upadhya, Grant & Eisenhofer, P.A., Wilmington, DE; Thomas Curry, Tayler D. Bolton, Saxena White P.A., Wilmington, DE; Chad Johnson, Noam Mandel, Desiree Cummings, Jonathan Zweig, Sarah Delaney, Robbins Geller Rudman & Dowd LLP, New York, NY; Jeremy S. Friedman, David Tejtel, Friedman Oster & Tejtel PLLC, Bedford Hills, NY, D. Seamus Kaskela, Kaskela Law LLC, Newton Square, PA; Julia Goldsmith Reiser, Cohen Milstein Sellers & Toll PLLC, Washington, DC; Richard A. Speirs, Amy Miller, Cohen Milstein Sellers & Toll PLLC, New York, NY for plaintiffs.
    for defendant: Raymond J. DiCamillo, Kevin M. Gallagher, Alexander M. Krischik, Richards, Layton & Finger, P.A., Wilmington, DE; Sandra C. Goldstein, Stefan Atkinson, Byron Pacheco, Kirkland & Ellis LLP, New York, NY; William M. Lafferty, Ryan D. Stottmann, Alexandra M. Cumings, Morris Nichols Arsht & Tunnell LLP, Wilmington, DE; Sameer Advani, Wesley R. Powell, Patricia O. Haynes, Willkie Farr & Gallagher LLP, New York, NY; A. Thompson Bayliss, Stephen C. Childs, Abrams & Bayliss LLP, Wilmington, DE; Peter L. Welsh, C. Thomas Brown, Patrick T. Roath, Ropes & Gray LLP, Boston, MA; Edward R. McNicholas, Ropes & Gray LLP, Washington, DC; John L. Reed, Ronald N. Brown, Peter H. Kyle, Kelly L. Freund, Dla Piper LLP, Wilmington, DE; Paul R. Bessette, Michael J. Biles, Daniel M. Wodnicki, King & Spalding LLP, Austin, TX; Benjamin Lee, Benjamin B. Watson, King & Spalding LLP, Atlanta, GA, for defendants.

    Case Number: 2021-0940-SG

    Court granted board of directors' motion to dismiss a claim for breach of loyalty after plaintiff shareholders sued following a cybersecurity attack that led to a substantial drop in the company's stock value.

  • Goldstein v. Denner

    Publication Date: 2022-06-07
    Practice Area: Corporate Governance
    Industry: Biotechnology | Investments and Investment Advisory | Pharmaceuticals
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Kevin H. Davenport, John G. Day, Prickett, Jones & Elliott P.A., Wilmington, DE; R. Bruce McNew, Cooch & Taylor P.A., Wilmington, DE; Randall J. Baron, David T. Wissbroecker, Robbins Geller Rudman & Dowd LLP, San Diego, CA; Christopher H. Lyons, Robbins Geller Rudman & Dowd LLP, Nashville, TN; Brett Middleton, Johnson Fistel, LLP, New York, NY for plaintiff.
    for defendant: Matthew D. Stachel, Paul, Weiss, Rifkind, Wharton & Garrison LLP, Wilmington, DE; Daniel J. Kramer, Geoffrey R. Chepiga, Daniel J. Juceam, Paul, Weiss, Rifkind, Wharton & Garrison LLP, New York, NY; Stephen E. Jenkins, Richard D. Heins, Ashby & Geddes, P.A., Wilmington, DE; Tariq Mundiya, Sameer Advani, Richard Li, M. Annie Houghton-Larsen, Willkie Farr & Gallagher LLP, New York, NY for defendants.

    Case Number: D69839

    Non-exculpated fiduciary duty claims against directors survived dismissal where plaintiff pled sufficient facts to support inference that directors were financially and professionally aligned with activist investor/director who allegedly profited off insider information to the detriment of public shareholders.

  • L-5 Healthcare Partners, LLC v. Alphatec Holdings, Inc.

    Publication Date: 2020-10-28
    Practice Area: Corporate Entities
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor McCormick
    Attorneys: For plaintiff: William M. Lafferty, D. McKinley Measley, Thomas P. Will, Morris Nichols Arsht & Tunnell LLP, Wilmington, DE; Antonio Yanez, Jr., Alexander L. Cheney, Willkie Farr & Gallagher LLP, New York, NY for plaintiff.
    for defendant: Philip A. Rovner, Jonathan A. Choa, Jaclyn C. Levy, Potter Anderson & Corroon LLP, Wilmington, DE for defendant.

    Case Number: D69167

    Agreement to issue convertible warrants upon drawing on credit constituted agreement sufficient to trigger preemption rights under stock purchase agreement with another party, and offer proposal failed to satisfy preemption rights due to conditional nature of the offer.

  • Athene Life & Annuity Co. v. Am. Gen. Life Ins. Co.

    Publication Date: 2020-06-03
    Practice Area: Insurance Law
    Industry: Insurance | Investments and Investment Advisory
    Court: Delaware Superior Court
    Judge: Judge Wallace
    Attorneys: For plaintiff: Martin S. Lessner, Richard J. Thomas, and M. Paige Valeski, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; James P. Gillespie and Dustin Hillsley, Kirkland& Ellis LLP, New York, NY; Adam T. Humann, Kirkland & Ellis LLP, Washington, DC for plaintiff Athene. Brian C. Ralston, Potter Anderson & Corroon LLP, Wilmington, DE for plaintiffs American Investors and Indianapolis Life.
    for defendant: Kenneth J. Nachbar and Sabrina M. Hendershot, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE for defendant American Life. Joel Friedlander and Christopher P. Quinn, Friedlander & Gorris, P.A, Wilmington, DE; John L. Jacobus, J. Walker Johnson, Catherine D. Cockerham, and William Carson, Steptoe & Johnson LLP, Washington, DC; Jeffrey B. Korn and Stuart R. Lombardi, Willkie Farr & Gallagher LLP, Washington, DC; Joseph G. Davis, Willkie Farr & Gallagher LLP, New York, NY for defendants ZC Resource Investment Trust and ZC Resource LLC.

    Case Number: D68999

    Breach of contract and tortious interference claims arising from alleged rights to surrender or reallocation value from corporate-owned life insurance policies were dismissed as unripe where the policyholder had made no effort to surrender or reallocate.

  • In re: AmTrust Fin. Serv., Inc. Stockholder Litig.

    Publication Date: 2020-03-11
    Practice Area: Mergers and Acquisitions
    Industry: Insurance | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Chancellor Bouchard
    Attorneys: For plaintiff: Ned Weinberger, Thomas Curry and Mark D. Richardson, Labaton Sucharow LLP, Wilmington, DE; Jay W. Eisenhofer, Mi-chael J. Barry and Kyle J. McGee, Grand & Eisenhofer P.A., Wilmington, DE; Marcus E. Montejo, Stephen D. Dargitz and John G. Day, Prickett, Jones & Elliott, P.A., Wilmington, DE; Carl L. Stine, Adam J. Blander and Antoinette Adesanya, Wolf Popper LLP, New York, NY; Jeremy Friedman, Spencer Oster and David Tejtel, Friedman Oster & Tejtel, PLLC, New York, NY; Eric L. Zagar, Robin Winchester, Michael C. Wagner and Christopher M. Windover, Kessler Topaz Meltzer & Check, LLP, Radnor, PA; David Wales and Edward Timlin, Bernstein Litowitz Berger & Grossmann LLP, New York, NY; Joseph E. White, III, Adam D. Warden, Steven B. Singer and Joshua Saltzman, Saxena White P.A., Boca Raton, FL and White Plains, NY for plaintiffs.
    for defendant: Edward B. Micheletti and Bonnie W. David, Skadden, Arps, Slate, Meagher & Flow LLP, Wilmington, DE for Stone Point, Trident and Parallel Fund defendants. Gregory P. Williams, Blake Rohrbacher, Daniel E. Kaprow and Ryan D. Konstanzer, Richards, Layton & Finger, P.A., Wilmington, DE; Tariq Mundiya and Sameer Advani, Willkie Farr & Gallagher LLP, New York, NY for defendants DeCarlo, Fisch, Gulkowitz and Rivera. Daniel A. Mason, Andrew G. Gordon and William A. Clareman, Paul, Weiss, Rifkind, Wharton & Garrison LLP, Wilmington, DE and New York, NY for Zyskind, Karfunkel and Ev-ergreen defendants.

    Case Number: D68906

    Plaintiffs alleged sufficient facts to support a reasonable inference that certain defendants participated in a breach of fiduciary duty, so the entire fairness standard applied. The court dismissed the remainder of plaintiffs' claims.