Highlights & Analysis of Key Decisions from Delaware's Supreme Court & Court of Chancery
Wayman Fire Protection, Inc. v. Premium Fire & Security, LLC, C.A. No. 7866-VCP (March 5, 2014).
Why is this decision important? In this post-trial opinion, the Court found that a former employee and his current employer were liable under the Delaware Misuse of Computer Information Act, as well as claims for conversion and breach…
Governor Jack Markell has nominated Delaware Court of Chancery Chancellor Leo E. Strine, Jr. to be the next Chief Justice of the Delaware Supreme Court. An announcement by the Governor was made today.
In In Re Primedia, Inc. Shareholders Litigation Consolidated, C.A. No. 6511-VCL (Dec. 20, 2013), the Court of Chancery addressed defendants’ motion for a judgment on the pleadings in an action brought by minority shareholders of Primedia alleging that defendant directors of Primedia and Kohlberg Kravis Roberts & Co. L.P. (KKR), Primedia’s controlling shareholder…
As we have noted from time to time, other jurisdictions are very interested in and follow Delaware corporate law in deciding cases. This post is a follow-up to a December 2011 post about a decision issued by the High Court of the Republic of the Marshall Islands (located in the South Pacific). This is the…
Renco Group, Inc., v. MacAndrews AMG Holdings LLC, C.A. No. 7668-VCN (June 19, 2013).
This decision is the latest in an ongoing dispute among Plaintiff The Renco Group, Inc. (“Renco”) and Defendants MacAndrews AMG Holdings LLC (“AMG”), MacAndrews & Forbes Holdings Inc. (“M&F”), and Ronald O. Perelman. Prior decisions in this case have been…
This post comes from Frances Goins of Ulmer & Berne in Cleveland. Frances is the Chair of the ABA Business Law Section’s Subcommittee on Developments in D&O Liability.
On June 16, 2013, the U.S. Supreme Court handed down its decision in Salinas v. Texas HERE which resulted from a criminal prosecution in which the defendant…
Recor Medical, Inc. v. Reinhard Warnking and Sound Invention, Inc. C.A. No. 7387-VCN (Del. Ch., May 31, 2013, revised July 16, 2013).
Issues Presented: Did plaintiff establish that: (i) the defendant conceived of the idea for a patent invention while employed at a predecessor of plaintiff; and (ii) the predecessor company had acquired the invention…
Transdigm Inc. v. Alcoa Global Fasteners, Inc., C. A. No. 7135-VCP (May 29, 2013).
Issue Addressed: Does a buyer’s disclaimed reliance on representations and warranties outside of the stock purchase agreement bar the buyer’s claim for fraudulent concealment of material information?
Short Answer: No.
Brief Discussion: This is a dispute between…
Israel Discount Bank of New York v. First State Depository Company, LLC, C.A. No. 7237-VCP (Del. Ch. May 29, 2013). Several of the prior Chancery decisions in this case were highlighted on these pages here, here and here.
Issue Addressed: Did the defendant depository bank breach the agreement by releasing collateral and interfering…
Anvil Holding Corp. v. Iron Acquisition Co., C.A. No. 7975-VCP (May 17, 2013).
Issue: Motion to dismiss a complaint for fraud and bad faith breach of contract in a dispute for the sale of securities.
Answer: Denied as to the fraud claim and granted as to bad faith breach of contract claim.
Background
This…