A recent Court of Chancery decision is notable for its analysis of an issuance of shares approved by a sole director–but without stockholder approval. In the matter of Applied Energetics, Inc. v. Farley, C.A. No. 2018-0489-TMR (Del. Ch. Jan. 24, 2019), the court considered a somewhat unusual set of facts that included a shell corporation, at the time of … Continue Reading
In Re Plains Exploration & Production Company Stockholder Litigation, Cons., C.A. No. 8090-VCN (Del. Ch. May 9, 2013). Issues Addressed: Were Revlon duties of the board breached due to the absence of a special committee and pre-market check in connection with the sale of the company, and (ii) were disclosure obligations breached due to alleged … Continue Reading
In Verizon of Delaware, Inc. v. Communications Workers of America, Local Nos. 13100 and 13101, et al., C.A. No. 6766-CS (Order) (Del. Ch. Aug. 10, 2011), available here, the Court of Chancery addressed the problems that arose with picketing during the recent Verizon employee strike. This post was prepared by a former associate of Eckert Seamans. Earlier … Continue Reading
In HDS Investment Holding, Inc. v. The Home Depot, Inc., (Del. Ch., Oct. 17, 2008), read opinion here, the Chancery Court (for the second time in about a week in two unrelated cases), decided that the agreement between the parties required the court to decide certain contractual issues, and enjoined an attempt by one of … Continue Reading
