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  • 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.

  • 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.

  • BV Advisory Partners, LLC v. Quantum Computing Inc.

    Publication Date: 2024-06-11
    Practice Area: Corporate Entities
    Industry: Electronics | Investments and Investment Advisory | Software
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Thaddeus J. Weaver, Dilworth Paxson LLP, Wilmington, DE for plaintiff.
    for defendant: Robert L. Burns, Kyle H. Lachmund, Craig K. Ferrere, Naseeba Saeed, Richards Layton & Finger, P.A., Wilmington, DE for defendant.
    Case Number: 2023-0768-SG

    Court declined to grant petition for appointment of receiver where petitioners potentially lacked standing and failed to demonstrate circumstances warranting a receivership.

  • Jacam Chem. Co. 2013, LLC v. Jacam Chem. Co., Inc.

    Publication Date: 2024-03-18
    Practice Area: Mergers and Acquisitions
    Industry: Chemicals and Materials | Energy | Manufacturing
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Paul D. Brown, Joseph B. Cicero, Chipman Brown Cicero & Cole, LLP, Wilmington, DE; Janet A. Hendrick, Michele C. Spillman, Angela M. Buchanan, Phillips Murrah P.C., Dallas, TX for plaintiffs.
    for defendant: P. Clarkson Collins, Jr., K. Tyler O’Connell, Kirsten Zeberkiewicz, Morris James, Wilmington, DE; Sean D. Walsh, Scott R. Schillings, Matthew K. Holcomb, Hinkle Law Firm, Wichita, KS for defendants.
    Case Number: 2021-0659-SG

    Contractual limitations period rendered breach of asset purchase agreement facially untimely, and there were no allegations of misconduct by defendants that would warrant tolling the limitation period.

  • 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.

  • Deutsche Bank AG v. Devon Park Bioventures, L.P.

    Publication Date: 2023-11-13
    Practice Area: Damages
    Industry: Financial Services and Banking | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Stephen C. Norman, Aaron R. Sims, Potter Anderson & Corroon LLP, Wilmington, DE; David G. Januszewski, Sheila C. Ramesh, Cahill Gordon & Reindel LLP, New York, NY for plaintiff.
    for defendant: Edwin J. Harron, James M. Yoch, Jr., Kevin P. Rickert, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; Kevin C. Maclay, Todd E. Phillips, Quincy M. Crawford, Nathaniel R. Miller, Caplin & Drysdale, Chartered, Washington, D.C.; William M. Kelleher, Neil R. Lapinski, Phillip A. Giordano, Gordon, Fournaris & Mammarella, P.A., Wilmington, DE; Ira S. Zaroff, Richard M. Zaroff, Zaroff & Zaroff LLP, Garden City, NY; P. Clarkson Collins, Jr., K. Tyler O’Connell, Albert J. Carroll, R. Eric Hacker, Morris James LLP, Wilmington, DE for defendants.
    Case Number: 2017-0822-SG

    Court dismissed in rem action over limited partnership interest where hearing the action would require the court to hale in defendants it lacked personal jurisdiction over and the proceedings were an attempt to circumvent the dismissal of plaintiff's fraudulent transfer claim against defendants for lack of jurisdiction.

  • Steward Health Care Sys. LLC v. Tenet Bus. Serv. Corp.

    Publication Date: 2023-09-04
    Practice Area: Contracts
    Industry: Health Care
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Michael A. Barlow, Adam K. Schulman, Abrams & Bayliss LLP, Wilmington, DE; Anthony Bongiorno, Jessica Reese, Quinn Emanuel Urquhart & Sullivan, LLP, Boston, MA; Rollo C. Baker IV, Eric White, Quinn Emanuel Urquhart & Sullivan, LLP, New York, NY for plaintiffs.
    for defendant: Lewis H. Lazarus, K. Tyler O’Connell, Albert J. Carroll, Barnaby Grzaslewicz, Morris James LLP, Wilmington, DE; Timothy W. Knapp, Brendan E. Ryan, Kent J. Hayden, Kirkland & Ellis LLP, Chicago, IL for defendants.
    Case Number: 2022-0289-SG

    Finding that that the asset purchase agreement executed by the parties had created a scheme for prorating Medicaid reimbursement distribution payments relating to the year in which closing on the hospitals occurred consistent with defendants' construction of the agreement, the court granted partial summary judgment to defendants.

  • Atallah v. Malone

    Publication Date: 2023-07-31
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: F. Troupe Mickler IV, Stephen E. Jenkins, Ashby & Geddes, P.A., Wilmington, DE; William J. Fields, Christopher J. Kupka, Samir Shukurov, Fields Kupka & Shukurov LLP, New York, NY; Gustavo F. Bruckner, Samuel J. Adams, Daryoush Behbood, Pomerantz LLP, New York, NY; Brian Schall, The Schall Law Firm, Los Angeles, CA for plaintiffs.
    for defendant: Kevin R. Shannon, Tyler J. Leavengood, Jaclyn C. Levy, Michael C. Gorski, Jr., Lucille E. Wiesner, Potter Anderson & Corroon LLP, Wilmington, DE; Richard B. Harper, Vern Cassin, Thomas E. O’Brien, Alyssa M. Pronley, Kristina Wenner, Baker Botts LLP, New York, NY; Bradley R. Aronstam, S. Reiko Rogozen, Roger S. Stronach, Ross Aronstam & Moritz LLP, Wilmington, DE; Joseph O. Larkin, Matthew P. Majarian, Rupal K. Joshi, Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington, DE; James R. Carroll, Skadden, Arps, Meagher & Flom LLP, Boston, MA for defendants.
    Case Number: 2021-1116-SG

    The court denied defendants' motion to dismiss plaintiffs' derivative complaint which alleged that one defendant had made a sham offer to purchase another defendant's high vote stock to trigger a call right, which in turn resulted in significant monetary benefits to both defendants and harm to nominal defendant.

  • Teuza A Fairchild Tech. Venture Ltd. v. Lindon

    Publication Date: 2023-05-09
    Practice Area: Mergers and Acquisitions
    Industry: Biotechnology | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Stephen E. Jenkins, Samuel M. Gross, Ashby & Geddes, Wilmington, DE; Donald J. Enright, Elizabeth K. Tripodi, Jordan A. Cafritz, Levi & Korsinsky, LLP, Washington, DC for plaintiff.
    for defendant: Raymond J. DiCamillo, Kevin M. Gallagher, Kyle H. Lachmund, Richards, Layton & Finger, P.A., Wilmington, DE; Adam H. Offenhartz, M. Jonathan Seibald, Gibson, Dunn & Crutcher LLP, New York, NY; Kevin M. Coen, Stephanie Rudolph, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Scott B. Czerwonka, Andrea S. Brooks, Wilks Law, LLC, Wilmington, DE; Kurt M. Heyman, Jamie L. Brown, Heyman Enerio Gattuso & Hirzel LLP, Wilmington, DE; John F. Baughman, Daniel A. Schwartz, JFB Legal, PLLC, Norfolk, VA for defendants.
    Case Number: 2022-0130-SG

    Former stockholder plausibly alleged fiduciary claims against controller as it received non-ratable benefit from sale of the company and attempted to induce minority stockholders to waive any fiduciary claims to receive their merger consideration.

  • Rust v. Rust

    Publication Date: 2023-05-09
    Practice Area: Trusts and Estates
    Industry:
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: Sean J. Bellew, Bellew LLC, Wilmington, DE for plaintiff.
    for defendant: Kenneth J. Nachbar, Lauren K. Neal, Michael J. Slobom, Jr., Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE for defendants.
    Case Number: 2020-0762-SG

    Court enforced memorandum of settlement as parties' settlement agreement where it contained all material terms to resolve the parties' dispute and any remaining terms for a final settlement agreement were ancillary or non-material.