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Chancery Court dismisses stockholder claim for breach of fiduciary duty, despite Board’s inaccurate disclosures

USA - April 1 2019 In Steven H. Busch v. Edward J. Richardson et. Al. And Richardson Electronics, Ltd., C.A. No. 2017-0868-AGB (Del. Ch. November 14, 2018), the...

Adam Heyd.

Court of Chancery Judicially Validates Company’s Ratification of Defective Corporate Acts, Therefore Rejecting Bid to Unwind Merger

USA - October 30 2018 In Charles Almond, et al. V. Glenhill Advisors LLC, et al., C.A. No. 10477-CB, Chancellor Bouchard ruled in favor of the defendants, directors of...

B. Ashby Hardesty, Jr..

Chancery Court validates a defective merger and reaffirms reliance on outside legal counsel under Delaware law

USA - September 20 2018 In The Cirillo Family Trust v. Aram Moezinia, Lewis Tepper, Mark Walter, and DAVA Pharmaceuticals, Inc., C.A. No. 10116-CB (Del. Ch. Jul. 11, 2018)...

Dean Brazier.

Chancery Court Denies Motion to Dismiss Brought by Defendant Tesla Motors, Inc. After Concluding that Elon Musk is a Controlling Stockholder

USA - May 18 2018 In In Re Tesla Motors, Inc. Stockholder Litigation, the Delaware Chancery Court denied Defendants’ motion to dismiss an action brought by plaintiffs...

Daisy Sexton.

Chancery Court Holds That Certificate of Incorporation Provision Provides Preferred Stockholders Voting Right, Not Entitlement to Liquidation Preference

USA - July 11 2017 In In re Appraisal of GoodCents Holdings, Inc., C.A. No. 11723-VCMR, Vice-Chancellor Montgomery-Reeves held that, following a merger, a provision in...

Priya Chadha.