• Gracey v. Albawardi

    Publication Date: 2024-12-31
    Practice Area: Family Law
    Industry:
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Sidney S. Liebesman, Seth A. Niederman, Kasey H. DeSantis, Joshua K. Tufts, Fox Rothschild LLP, Wilmington, DE; Justen P. Phelps, Gibson Watson Marino LLC, Wichita, KS for petitioner.
    for defendant: William E. Green, Jr., Halloran Farkas + Kittila LLP, Wilmington, DE; Ezra Ishmael Young, Law Office of Ezra Young, Ithaca, NY; Lisa M. Zwally, Greenberg Traurig, LLP, Wilmington, DE for respondents.

    Case Number: 2024-0394-LWW

    Court rejected divorce judgment creditor's reverse veil piercing claim where the judgment was directed to her ex-husband, not his corporate entities, and there was no evidence the ex-husband had used the entities to perpetuate a fraud or had disregarded the corporate form.

  • 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.

  • 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.

  • Roberta Ann K.W. Wong Leung Revocable Trust v. Amazon.com, Inc.

    Publication Date: 2024-11-05
    Practice Area: Corporate Governance
    Industry: E-Commerce | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Samuel L. Closic, Seth T. Ford, Prickett, Jones & Elliott, P.A., Wilmington, DE; Brian J. Robbins, Stephen J. Oddo, Gregory E. Del Gaizo, Michael J. Nicoud, Eric M. Carrino, Robbins LLP, San Diego, CA; Daniel B. Rehns, Scott Jacobsen, Hach Rose Schirripa & Cheverie, New York, NY for plaintiff.
    for defendant: Garrett B. Moritz, Dylan T. Mockensturm, Benjamin M. Whitney, Ross Aronstam & Moritz LLP, Wilmington, DE; William Savitt, Anitha Reddy, Adam M. Gogolak, Alexis J. Abboud, Wachtell, Lipton, Rosen & Katz, New York, NY for defendant.

    Case Number: 2023-1251-BWD

    Court denied stockholder's books and records inspection request where it failed to specifically allege corporate wrongdoing and instead made vague and overbroad allegations of mismanagement.

  • Berger v. Graf Acquisition, LLC

    Publication Date: 2024-11-05
    Practice Area: Mergers and Acquisitions
    Industry: Investments and Investment Advisory | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Kimberly A. Evans, Lindsey K. Faccenda, Irene R. Lax, Robert Erikson, Block & Leviton LLP, Wilmington, DE for plaintiff.
    for defendant: S. Michael Sirkin, Benjamin M. Whitney, Ross Aronstam & Moritz LLP, Wilmington, DE for defendant.

    Case Number: 2023-0873-LWW

    Court denied plaintiff's motion to compel production of documents where plaintiff had made an overbroad request for documents, with the court instead allowing defendants to produce documents under technology assisted review.

  • Roth v. Sotera Health Co.

    Publication Date: 2024-10-08
    Practice Area: Employment Litigation
    Industry: Health Care | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: John M. Seaman, G. Mason Thomson, Abrams & Bayliss LLP, Wilmington, DE; Ryan Q. Keech, K&L Gates LLP, Los Angeles, CA; Matthew B. Goeller, K&L Gates LLP, Wilmington, DE; Carl Alan Roth, Roth Ames LLP, La Habra, CA for plaintiff.
    for defendant: John P. DiTomo, Lauren K. Neal, Courtney Kurz, Taylor A. Christensen, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE for defendant.

    Case Number: 2022-1192-LWW

    Court ruled that company's former LLP agreement's vesting and forfeiture terms for partnership units could be incorporated into restricted stock agreement following company's corporate conversion and exchange of employee's units for restricted stock.

  • March 27, 2024 | Delaware Business Court Insider

    Chancery Dismisses Suit Against Walgreens Directors, Rejecting 'Reflexively Filed' 'Caremark' Claims

    "Fueled by hindsight bias," Vice Chancellor Lori W. Will explained, Caremark suits have "proliferated in Delaware" seeking to hold directors personally liable for imperfect efforts, operational struggles and business decisions. But, the court noted, a stockholder's position that the board's response to a corporate crisis merely "came too late and did too little" is insufficient under Caremark, which requires a showing that directors acted in bad faith.

    6 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.

  • In Re Multiplan Corp. Stockholders' Litig.

    Publication Date: 2022-01-18
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Gregory V. Varallo, Bernstein Litowitz Berger & Grossmann LLP, Wilmington, DE; Mark Lebovitch, Daniel E. Meyer, Margaret Sanborn- Lowing, Joseph W. Caputo, Bernstein Litowitz Berger & Grossmann LLP, New York, NY for plaintiffs.
    for defendant: Raymond J. DiCamillo, Kevin M. Gallagher, Matthew D. Perri, Richards, Layton & Finger, P.A., Wilmington, DE; Jonathan K. Youngwood, Rachel S. Sparks Bradley, Simpson Thacher & Bartlett LLP, New York, NY; Stephen P. Blake, Simpson Thacher & Bartlett LLP, Palo Alto, CA; Bradley R. Aronstam, S. Michael Sirkin, Ross Aronstam & Moritz LLP, Wilmington, DE; John A. Neuwirth, Joshua S. Amsel, Evert J. Christensen, Jr., Matthew S. Connors, Nicole E. Prunetti, Weil, Gotshal & Manges LLP, New York, NY for defendants.

    Case Number: D69679

    The court found that plaintiff's claim was direct, not derivative, the claims were not exclusively contractual, and that the claims were not holder claims predicated on stockholder inaction.

  • Dlayal Holdings, Inc. v. Al-Bawardi

    Publication Date: 2022-01-11
    Practice Area: Civil Procedure
    Industry: Real Estate
    Court: Court of Chancery
    Judge: Vice Chancellor Will
    Attorneys: For plaintiff: Lisa Zwally Brown, Corinne R. Moini, Greenberg Traurig, LLP, Wilmington, DE for plaintiff.
    for defendant: Daniel K. Astin, Ciardi Ciardi & Astin, Wilmington, DE; Albert A. Ciardi, Walter W. Gouldsbury, Ciardi Ciardi & Astin, Philadelphia, PA; Marc Litt, Evan Weintraub, Wachtel Missry LLP; New York, NY for third-party plaintiff. Sidney S. Liebesman, Katelyn M. Crawford, Fox Rothschild LLP, Wilmington, DE; Justin P. Phelps, Gibson Watson Marino LLC, Wichita, KS for defendants.

    Case Number: D69670

    The court held that service of process on three Kansas residents under 6 Del. C. § 18-109(a) was not effective service because the three defendants were not managers of the subject entity.