09 Jul, 2024 Chancery Determines Pharmaceutical Company Complied with Merger Agreement’s Requirement To Use Commercially Reasonable Efforts By Albert J. Carroll Bryan Townsend Himawan v. Cephalon, Inc., C.A. No. 2018-0075-SG (Del. Ch. Apr. 30, 2024) Stockholder representatives of an acquired corporation brought...
09 Jul, 2024 Chancery Determines LLC Agreement Required Payment to Remove Manager By Albert J. Carroll Bryan Townsend Soleimani v. Hakkak, C.A. No. 2023-0948-LWW (Del. Ch. Apr. 12, 2024) The defendants attempted to remove a manager-employee of several...
03 Jun, 2024 Chancery Invalidates Provisions of Stockholder Agreement Under Section 141 of the DGCL By Albert J. Carroll Bryan Townsend West Palm Beach Firefighters’ Pension Fund v. Moelis & Co., C.A. No. 2023-0309-JTL (Del. Ch. Feb. 23, 2024)One day before a company’s...
16 May, 2024 Superior Court Dismisses Aiding and Abetting Claim Against Officers By Barnaby Grzaslewicz Aubrey Morin Albert J. Carroll RGIS International Transition Holdco LLC v. Retail Services WIS Corp., C.A. No. N21C-12-077 (Del. Super. February 13, 2024)Under Delaware...
14 May, 2024 Court of Chancery Grants Special Litigation Committee’s Dismissal of 'Carvana' Derivative Action By Albert J. Carroll Delaware Business Court Insider Boards of Delaware corporations control the company’s assets, which includes by default derivative claims...
03 May, 2024 Chancery Dismisses Caremark Action Based on Insufficient Allegations of Bad Faith By Albert J. Carroll Sarah Ennis Lewis H. Lazarus Clem v. Skinner, et al., C.A. 2021-0240-LWW (Del. Ch. Feb. 19, 2024) This Caremark decision involved the retail pharmacy company,...
03 May, 2024 Delaware Supreme Court Affirms That the Right to Sue Corporate Officers is Not a “Power” Within the Meaning of DGCL Section 242(b)(2) By Albert J. Carroll Barnaby Grzaslewicz Aubrey Morin In re Fox Corporation/Snap Inc. Section 242 Litigation, C.A. 2023-1007-LWW (Del. Ch. January 17, 2024)DGCL Section 242(b)(2) requires...
25 Apr, 2024 Chancery Upholds Challenge to TripAdvisor’s Conversion from a Delaware Corporation into a Nevada Entity By Albert J. Carroll Albert H. Manwaring IV Alena Smith Palkon v. Maffei, C.A. 2023-0449-JTL (Del. Ch. Feb. 20, 2024)This decision arose out of TripAdivor’s conversion from a Delaware...