• January 22, 2025 | Delaware Business Court Insider

    Chancery: Common Stock Worthless in 'Jacobson v. Akademos' and Transaction Was Entirely Fair

    Jacobs v. Akademos is a post-trial opinion that addresses a squeeze-out merger where Akademos’ (the company) common stockholders were provided zero consideration. Vice Chancellor Travis Laster found that the common stock was worthless for appraisal purposes and that the transaction was entirely fair.

    1 minute read

  • Sunder Energy, LLC v. Jackson

    Publication Date: 2024-01-01
    Practice Area: Corporate Governance
    Industry: Energy
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Raymond J. DiCamillo, Chad M. Shandler, Steven J. Fineman, Kelly E. Farnan, Kevin M. Gallagher, Christine D. Haynes, Alexander M. Krischik, Sara M. Metzler, Richards, Layton & Finger, P.A., Wilmington, DE; Joshua Berman, Jackson Herndon, Paul C. Gross, Ben Nicholson, Michael H. Rover, Paul Hastings LLP, New York, NY for plaintiff.
    for defendant: Timothy R. Dudderar, Aaron R. Sims, Abraham C. Schneider, Potter Anderson & Corroon LLP, Wilmington, DE; Maureen M. Stewart, Foley & Lardner LLP, Tampa, FL; Jordan C. Bledsoe, Tyler Dever, Bryce W. Talbot Foley & Lardner LLP, Salt Lake City, UT; Paul J. Lockwood, Jenness E. Parker, Jessica R. Kunz, Matthew R. Conrad, Eric M. Holleran, Mallory V. Phillips, Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington, DE; Karen Hoffman Lent, Evan R. Kreiner, Skadden, Arps, Slate, Meagher & Flom LLP, New York, NY for defendants.

    Case Number: 2023-0988-JTL

    Court granted certification of denial of preliminary injunction for interlocutory appeal where such an appeal would facilitate prompt and final resolution of controlling legal issues in the case.

  • September 15, 2023 | Litigation Daily

    Litigator of the Week Runners-Up and Shout Outs

    When a $1 billion, top 20 all-time securities settlement is among the runners-up, you know it's been a crazy week.

    9 minute read

  • June 28, 2023 | Delaware Business Court Insider

    Chancery Cautions Against Overzealous Redactions in Books and Records Productions

    In Ontario Provincial Council of Carpenters' Pension Trust Fund v. Walton, Vice Chancellor Laster mostly denied motions to dismiss claims against officers and directors of Walmart for allegedly causing Walmart to fail to comply with the Controlled Substances Act and a settlement between it and the DEA related to Walmart's handling of opioid prescriptions.

    7 minute read

  • Hyde Park Venture Partners Fund III, L.P. v. Fairxchange, LLC

    Publication Date: 2023-03-21
    Practice Area: Discovery
    Industry: E-Commerce | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: A. Thompson Bayliss, Daniel J. McBride, Anthony R. Sarna, Abrams & Bayliss LLP, Wilmington, DE for petitioners.
    for defendant: Paul J. Lockwood, Jenness E. Parker, Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington, DE; Patricia L. Enerio, Jamie L. Brown, Aaron M. Nelson, Elizabeth A. DeFelice, Heyman Enerio Gattuso & Hirzel LLP, Wilmington, DE; Stephen J. Senderowitz, Dentons, Chicago, IL; Douglas W. Henkin, Dentons, New York, NY for respondents.

    Case Number: 2022-0344-JTL

    Court granted motion to compel on the grounds that defendant corporation could not invoke the attorney-client privilege as a means to withhold materials within a certain time frame spanning over two years. The court did however hold that the corporation could assert the privilege regarding communications that were related to books and records that the director had intentionally released, thus removing it from the circle of confidentiality.

  • In re Stream TV Networks, Inc. Omnibus Agreement Litig.

    Publication Date: 2022-10-18
    Practice Area: Corporate Entities
    Industry: Investments and Investment Advisory | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Steven P. Wood, Andrew S. Dupre, Brian R. Lemon, Sarah E. Delia, Stephanie H. Dallaire, Travis J. Ferguson, McCarter & English, LLP, Wilmington, DE for plaintiff.
    for defendant: Jenness E. Parker, Bonnie W. David, Lilianna Anh P. Townsend, Trevor T. Nielsen, Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington, DE; Eben P. Colby, Marley Ann Brumme, Skadden, Arps, Slate, Meagher & Flom LLP, Boston, MA, Wilmington, DE for defendants.

    Case Number: 2020-0766-JTL

    Timing of stock transfers indicated a preplanned scheme to facilitate the parties' desired transfer of stock in violation of the court's order barring the parties from acting in concert, requiring the cancellation of legal title and a brief injunctive period.

  • In re Stream TV Networks, Inc. Omnibus Agreement Litig.

    Publication Date: 2022-10-11
    Practice Area: Corporate Governance
    Industry: Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Steven P. Wood, Andrew S. Dupre, Brian R. Lemon, Sarah E. Delia, Stephanie H. Dallaire, Travis J. Ferguson, McCarter & English, LLP, Wilmington, DE for plaintiff.
    for defendant: Jenness E. Parker, Bonnie W. David, Lilianna Anh P. Townsend, Trevor T. Nielsen, Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington, DE; Eben P. Colby, Marley Ann Brumme, Skadden, Arps, Slate, Meagher & Flom LLP, Boston, MA for defendant.

    Case Number: 2020-0766-JTL

    Secured creditor's motion to modify injunction requiring the return of assets to debtor denied where transferee had no legal right to title to the assets, and debtor was entitled to the assets to satisfy its secured debts.

  • In re Altaba, Inc.

    Publication Date: 2022-05-03
    Practice Area: Corporate Entities
    Industry: Investments and Investment Advisory | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Paul J. Lockwood, Arthur R. Bookout, Matthew P. Majarian, Kathryn S. Bartolacci, Gregory P. Ranzini, Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington, DE; David E. Ross, Ross Aronstam & Moritz LLP, Wilmington, DE for petitioner.
    for defendant: Christopher P. Simon, Kevin S. Mann, David G. Holmes, Cross & Simon, LLC, Wilmington DE; E.F. Anthony Merchant, Q.C., Merchant Law Group LLP, Regina, Saskatchewan for claimant.

    Case Number: D69805

    Dissolved company was required to retain a security sufficient to cover the full amount of per se damages that could be imposed under statutory law governing pending litigation.

  • In The Matter of the Rehab. of Scottish RE (U.S.), Inc., LLC

    Publication Date: 2022-05-03
    Practice Area: Insurance Litigation
    Industry: Insurance | State and Local Government
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Peter B. Ladig, GianClaudio Finizio, Bayard, P.A., Wilmington, DE; Diane J. Bartels, Wilmington, DE; James J. Black, III, Jeffrey B. Miceli, Mark W. Drasnin, Black & Gerngross, P.C., Philadelphia, PA; Michael Busenkell, Gellert Scali Busenkell & Brown, LLC, Wilmington, DE for Scottish RE (U.S.), Inc.
    for defendant: Marisa R. DeFeo, Randall S. MacTough, Saul Ewing Arnstein & Lehr LLP, Wilmington, DE; Christopher Viceconte, Gibbons P.C., Wilmington, DE; Daniel Hargraves, Freeborn & Peters LLP, New York, NY; Randall S. MacTough, Zarwin Baum Devito Kaplan Schaer Toddy, PC, Wilmington, DE; Joseph B. Cicero, Gregory Stuhlman, Chipman Brown Cicero & Cole, LLP, Wilmington, DE; R. Stephen McNeill, D. Ryan Slaugh, Potter Anderson & Corroon LLP, Wilmington, DE; Willaim P. Bowden, Catherine A. Gaul, Ricardo Palacio, Ashby & Geddes, Wilmington, DE; John C. Phillips, Jr., Paul S. Seward, Phillips, Goldman, Mclaughlin & Hall, P.A., Wilmington, DE; Joseph C. Schoell, Faegre Drinker Biddle & Reath LLP, Wilmington, DE; Kathleen M. Miller, Smith, Katzenstein & Jenkins, LLP, Wilmington, DE; David A. Felice, Bailey & Glasser, LLP, Wilmington, DE; John G. Harris, Peter C. McGivney, Berger Harris LLP, Wilmington, DE, Garrett B. Moritz, Elizabeth M. Taylor, Ross Aronstam & Moritz LLP, Wilmington, DE; Matthew A. Clemente, R. Bradley Drake, John Grothaus, Sidley Austin LLP, Chicago, IL; Joelle E. Polesky, Stradley Ronon Stevens & Young, Wilmington, DE, Travis S. Hunter, Renee M. Mosley, Richards, Layton & Finger, P.A., Wilmington, DE; Jarret P. Hitchings, Duane Morris LLP, Wilmington, DE; Joseph Larkin, Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington, DE; Barry M. Klayman, Simon Fraser, Cozen O’Connor, Wilmington, DE; Kevin J. Mangan, Nicholas T. Verna, Womble Bond Dickerson (US) LLP, Wilmington, DE; Jody Barillare, Morgan Lewis & Bockius LLP, Wilmington, DE; Peter H. Kyle, John L. Reed, DLA Piper LLP (US), Wilmington, DE, for shareholders and third-parties.

    Case Number: D69799

    In this case of first impression, the court found that the liquidation standard did not operate as a per se requirement for plan approval.

  • Stream TV Networks, Inc. v. SeeCubic, Inc.

    Publication Date: 2021-12-21
    Practice Area: Creditors' and Debtors' Rights
    Industry: Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Laster
    Attorneys: For plaintiff: Steven P. Wood, Andrew S. Dupre, Brian R. Lemon, Sarah E. Delia, McCarter & ENGLISH, LLP, Wilmington, DE for plaintiff.
    for defendant: Robert S. Saunders, Jenness E. Parker, Bonnie W. David, Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington, DE; Eben P. Colby, Marley Ann Brumme, Skadden, Arps, Slate, Meagher & Flom LLP, Boston, MA for defendant.

    Case Number: D69653

    Court declined a stay of proceedings and permanent injunction, where the injunction was imposed to prevent plaintiff from interfering with defendant's rights under the parties' agreement, and where defendant was unlikely to prevail on its appeal of the court's judgment finding the agreement valid and enforceable.