Icahn Partners LP v. Amylin Pharmaceuticals, Inc., C.A. No. 7404-VCN (Del. Ch. Apr. 20, 2012).
Issue Addressed: Whether a challenge to an advanced notice bylaw should be given expedited treatment. That is, whether a colorable claim for interfering with the shareholder voting franchise and irreparable harm have been shown?
Short Answer: Yes. Tom Hals
In re Delphi Financial Group Shareholder Litigation, Cons. C.A. No. 7144 -VCG (Del. Ch. Mar. 6, 2012). This is the third Delaware Court of Chancery decision in as many weeks that denied injunctive relief, in an expedited opinion, in response to a challenged transaction–despite criticism in two of the cases, of the process and the
Chancellor Strine in In Re El Paso Corporation Shareholder Litigation, Consol. C. A. No. 6949-CS (Del. Ch. Feb. 29, 2012), denied the stockholder plaintiffs request for a preliminary injunction to enjoin a merger between El Paso Corporation and Kinder Morgan, Inc. While the Court in a 33-page opinion, severely criticized the
In Re: Micromet, Inc. Shareholders Litigation, C.A. No. 7197-VCP (Del. Ch. Feb. 29, 2012).
Issue Addressed
The issue in this case is whether a motion for preliminary injunction should be granted to enjoin an all-cash negotiated tender off for all the shares of a biopharmaceutical company. Plaintiffs are the shareholders of the target company
Trilogy Portfolio Company, LLC v. Brookfield Real Estate Financial Partners, LLC, C.A. No. 7161-VCP (Del. Ch., Jan. 13, 2012), read opinion here.
Issue Addressed
Whether the restructuring of a $2.7 billion mortgage loan secured by the Atlantis Resort and Casino in the Bahamas created the necessary type of irreparable harm to the lenders
On January 13, 2012, the Court of Chancery issued non-binding guidelines or “best practices” to help lawyers and their parties handle common and sometimes complex procedural issues that arise in litigation before the Delaware Court of Chancery.
Kevin F. Brady, who is a member of the Court of Chancery Rules Committee, prepared this summary.
The
Sherwood v. Chan, C.A. No. 7106-VCP (Del. Ch. Dec. 20, 2011), read opinion here and TRO here.
Issue Addressed
Whether the last minute removal of an incumbent director from the company slate shortly before an annual shareholders’ meeting created irreparable harm due to the threat of an uninformed shareholder vote that warranted a
In Huawei Technologies Co., Ltd. v. Interdigital Technology Corp., C.A. No. 6974-CS (Del. Ch., Nov. 17, 2011), read transcript ruling here, the Delaware Court of Chancery denied a request for expedited scheduling in a case that sought to set a FRAND rate for use of patents where prior-pending ITC and District Court proceedings
In Parcell v. Southwall Technologies, Inc., C.A. No. 7003-VCL (Del. Ch. Nov. 7, 2011)(transcript), the Delaware Court of Chancery refused to stay litigation challenging a transaction despite parallel litigation pending in California challenging the same transaction. Read transcript here.
Thanks are due to Delaware litigator Kurt Heyman for forwarding this transcript.
Brief Overview
Most
The Delaware Court of Chancery, and the members of its bench, have been sued in the U.S. District Court for the District of Delaware over the relatively new arbitration procedures that allow for selected lawsuits involving at least $1 million to be filed under seal, with the consent of all parties, and provide for a