30 Dec, 2020 Chancery Dismisses Section 220 Complaint on Jurisdictional Grounds, Finding That Plaintiffs Filed Seven Hours Prematurely By P. Clarkson Collins Jr. Kirsten A. Zeberkiewicz K. Tyler O'Connell MaD Investors GRMD, LLC, et al. v. GR Cos., Inc., C.A. No. 2020-0589-MTZ (Del. Ch. Oct. 28, 2020) At 5:03 p.m., on the fifth day after...
30 Dec, 2020 CCLD Holds Indemnification Provision Does Not Cover First-Party Claims By Lewis H. Lazarus K. Tyler O'Connell Ashland LLC v. Samuel J. Heyman 1981 Continuing Trust for Lazarus S. Heyman, C.A. No. N15C-10-176 EMD CCLD (Del. Super. Ct. Nov. 10,...
23 Dec, 2020 Chancery Sustains CEO’s Contract Claims in WeWork Litigation By Albert J. Carroll Albert H. Manwaring IV Bryan Townsend In re WeWork Litig., Consol. C.A. No. 2020-0258-AGB (Del. Ch. Oct. 30, 2020). A company facing a liquidity crisis (the shared working...
22 Dec, 2020 Chancery Addresses Fiduciary Duty Claims Related To Financial Statements Created For Merger By Jonathan G. Strauss Albert J. Carroll In re Baker Hughes Inc. Merger Litigation, C.A. No. 2019-0638 AGB (Del. Ch. Oct. 27, 2020). This decision arose out of a merger involving...
22 Dec, 2020 Chancery Holds California Statutory Bar to Choice-of-Forum Clauses in Employment Contracts Prevents Exercise of Personal Jurisdiction By R. Eric Hacker K. Tyler O'Connell Focus Fin. Partners, LLC v. Holsopple, C.A. No. 2020-0188-JTL (Del. Ch. Oct. 26, 2020). Delaware law promotes freedom of contract, and...
17 Dec, 2020 Delaware Supreme Court Clarifies When Books and Records Requests to Investigate Wrongdoing or Mismanagement Have a “Proper Purpose” By K. Tyler O'Connell Section 220 of the Delaware General Corporation Law permits a stockholder to inspect corporate books and records for a “proper purpose”...
17 Dec, 2020 Delaware Supreme Court Clarifies When Books and Records Requests to Investigate Wrongdoing or Mismanagement Have a “Proper Purpose” By K. Tyler O'Connell Delaware Business Court Insider Section 220 of the Delaware General Corporation Law permits a stockholder to inspect corporate books and...
16 Dec, 2020 Delaware Supreme Court Affirms CCLD Ruling Relying on Expert’s “Dual Hypothetical World” Damages Model for Measuring Business-Interruption Loss By P. Clarkson Collins Jr. Kirsten A. Zeberkiewicz K. Tyler O'Connell XL Ins. Am., Inc., et al. v. Noranda Aluminum Holding Corp., No. 444, 2019 (Del. Oct. 2, 2020)An aluminum manufacturer (the “Insured”)...
14 Dec, 2020 Enforcing a “Draconian” Bargain, Chancery Grants Motion to Dismiss Claims Arising from Right to Repurchase Interest Upon Termination By Lewis H. Lazarus K. Tyler O'Connell Moscowitz v. Theory Entertainment LLC, C.A. No. 2019-0780-MTZ (Del. Ch. Oct. 28, 2020) This case illustrates that the Court will enforce...
14 Dec, 2020 Chancery Enters Judgment for Seller On Post-Closing Milestone Payment Claim Because Buyer Failed to Establish Occurrence of Condition Subsequent By Jonathan G. Strauss K. Tyler O'Connell Shareholder Representative Services LLC v. Shire US Holdings, Inc., et al., C.A. No. 2017-0863 KSJM (Del. Ch. Oct. 12, 2020) After the...
09 Dec, 2020 Chancery Reaffirms Narrowed Application of Gentile By Albert J. Carroll Jonathan G. Strauss In re Terraform Power, Inc. Stockholders Litigation, C.A. No. 2019-0757-SG (Del. Ch. Oct. 30, 2020) In Terraform Power, the Court of...
04 Dec, 2020 Mindbody Deal Case Provides Conflict Takeaways For Boards By Albert J. Carroll K. Tyler O'Connell The Delaware Court of Chancery's recent decision in In re: Mindbody Inc. Stockholders Litigation1 is important reading for lawyers whose...
04 Dec, 2020 Mindbody Deal Case Provides Conflict Takeaways For Boards By Albert J. Carroll K. Tyler O'Connell Law360 The Delaware Court of Chancery's recent decision in In re: Mindbody Inc. Stockholders Litigation1 is important reading for lawyers...
04 Dec, 2020 Partner Matthew Fogg Presents at Delaware Workers' Compensation Seminar By Matthew R. Fogg Partner Matthew Fogg is a panelist at the Delaware State Bar Association's Workers' Compensation seminar on January 19, 2021, where he...
03 Dec, 2020 Chancery Questions Utility of Aronson Test, Dismisses Derivative Suit of Facebook Stockholder for Failure to Allege Demand Futility By Albert H. Manwaring IV K. Tyler O'Connell Bryan Townsend United Food and Comm. Workers Union v. Zuckerberg, C.A. No. 2018-0671-JTL (Del. Ch. Oct. 26, 2020) In its recent decision in United Food...
02 Dec, 2020 High Court Affirms Deal Price Was Reliable Indicator of Fair Value Despite Flawed Process By Lewis H. Lazarus K. Tyler O'Connell Brigade Leveraged Capital Structures Fund Ltd. v. Stillwater Mining Co., C.A. No. 427, 2019 (Del. Oct. 12, 2020) This case illustrates...