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In re Renren Inc. Derivative Litigation
Publication Date: 2020-06-02
Practice Area: Civil Procedure | Commercial Law
Industry: Investments and Investment Advisory
Court: Supreme Court, New York
Judge: Justice Andrew Borrok
Attorneys:
For plaintiff:
For defendant:
Case number: 653594/2018

Shareholder Action Makes Out Prima Facie Case Under 'Fraud on the Minority Exception'

Kirschner v. JPMorgan Chase Bank N.A.
Publication Date: 2020-06-01
Practice Area: Bankruptcy | Creditors' and Debtors' Rights | Securities Litigation
Industry:
Court: U.S. District Court for the Southern District of New York, U.S. - SDNY
Judge: District Judge Paul Gardephe
Attorneys:
For plaintiff:
For defendant:
Case number: 17 Civ. 6334

Trustee's Securities Claims Over Syndicated Loan Transaction Dismissed Under 'Reves'

Rubenstein v. Int'l Value Advisers LLC
Publication Date: 2020-05-27
Practice Area: Securities Litigation
Industry: Investments and Investment Advisory
Court: U.S. Court of Appeals for the Second Circuit
Judge: Circuit Judge Barrington Parker
Attorneys:
For plaintiff: For Plaintiff-Appellant: David Lopez, Law Office of David Lopez, Southampton, NY, on the brief, Miriam Tauber, Miriam Tauber Law PLLC, New York, NY.
For defendant: For Defendants-Appellees: Robin Muir, on the brief, Dennis Henry Tracey, III, Hogan Lovells US LLP, New York, NY. For Nominal Defendant-Appellee: Susan Saltzstein, Skadden, Arps, Slate, Meagher & Flom LLP, New York, NY.
Case number: 19-560-cv

Short-Swing Profits Denied Disgorgement; Advisor's Client Not Insider Group Member

Sullivan v. Nassau Cnty. Interim Fin. Auth.
Publication Date: 2020-05-19
Practice Area: Constitutional Law | Employment Litigation
Industry: State and Local Government
Court: U.S. Court of Appeals for the Second Circuit
Judge: Circuit Judge Guido Calabresi
Attorneys:
For plaintiff: In support of Plaintiffs-Appellants Brian Sullivan and Nassau County Sheriff's Correction Officers Benevolent Association: Howard Wien, Koehler & Isaacs LLP, New York, NY. In support of Plaintiffs-Appellants James Carver, Gary Learned, and Thomas R. Willdigg: Alan M. Klinger, Stroock & Stroock & Lavan LLP; Steven E. Losquardo, PC, Rocky Point, NY, on the brief, Shira A. Scheindlin, Stroock & Stroock & Lavan LLP, New York, NY. In support of Plaintiffs-Appellants Jerry Laricchiuta, Danny Donohue, and Civil Service Employees Association, Inc.: Daren J. Rylewicz, Leslie C. Perrin, Civil Service Employees Association, Inc., Albany, NY, on the brief, Aaron E. Kaplan, Civil Service Employees Association, Albany, NY.
For defendant: In support of Defendants-Appellees Nassau County Interim Finance Authority, Ronald A. Stack, George J. Marlin, Leonard D. Steinman, Thomas W. Stokes, Robert A. Wild, and Christopher P. Wright: Christopher Gunther, Skadden, Arps, Slate, Meagher & Flom LLP, New York, NY. In support of Defendants-Appellees Edward Mangano and George Maragos: Jared A. Kasschau, Nassau County Attorney, Mineola, NY; Ana C. Shields, Ashley Zangara, Jackson Lewis P.C., on the brief, Marc S. Wenger, Jackson Lewis P.C., Melville, NY.
Case number: 18-1587-cv

NIFA Acted With Legitimate Purpose When Freezing Wages to Combat County's Fiscal Crisis

United States v. Sabre Corp.
Publication Date: 2020-04-22
Practice Area: Antitrust
Industry: Federal Government | Technology Media and Telecom | Travel and Tourism
Court: U.S. District Court of Delaware
Judge: District Judge Stark
Attorneys:
For plaintiff: David C. Weiss, Laura D. Hatcher, Shamoor Anis, United States Dep’t of Justice, Wilmington, DE; Julie S. Elmer, Scott A. Westrich, Sarah P. McDonough, Robert A. Lepore, Aaron Comenetz, Brian E. Hanna, Craig W. Conrath, Dylan M. Carson, Rachel A. Flipse, Michael T. Nash, Jeremy P. Evans, Vittorio Cottafavi, Seth J. Wiener, John A. Holler, Grant A. Bermann and Katherine A. Celeste, United States Dep’t of Justice, Washington, DC for plaintiff.
For defendant: Joseph O. Larkin, Veronica A. Bartholomew, Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington, DE; Tara L. Reinhart, Steven C. Sunshine, Skadden, Arps, Slate, Meagher & Flom LLP, Washington, DC; Matthew M. Martino, Michael H. Meni-tove and Evan R. Kreiner, Skadden, Arps, Slate, Meagher & Flom LLP, New York, NY for Sabre defendants. Daniel A. Mason, Paul, Weiss, Rifkind, Wharton & Garrison LLP, Wilmington, DE; Kenneth A. Gallo, Jonathan S. Kanter, Joseph J. Bial and Daniel J. Howley, Paul, Weiss, Rifkind, Wharton & Garrison LLP, Washington, DC for defendants Farelogix Inc. and Sandler Capital Partners V, LP.
Case number: D68956

The government failed to demonstrate a relevant market in this case involving companies that provided airline booking ser-vices, so the court allowed the merger to proceed.

The Chemours Co. v. DowDuPont Inc.
Publication Date: 2020-04-15
Practice Area: Corporate Entities
Industry: Chemicals and Materials | Manufacturing
Court: Court of Chancery
Judge: Vice Chancellor Glasscock
Attorneys:
For plaintiff: Joel Friedlander, Jeffrey Gorris, Christopher Foulds, and Christopher P. Quinn, Friedlander & Gorris P.A., Wilmington, DE; William Savitt, Wachtell, Lipton, Rosen & Katz, New York, NY for plaintiff.
For defendant: Robert S. Saunders, Jennifer C. Voss, Arthur R. Bookout, and Jessica R. Kunz, Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington, DE for defendants.
Case number: D68944

Complaint dismissed where parties had agreed to arbitration clause that included broad delegation provision, which was not void or unconscionable simply because parent corporation had dictated terms to subsidiary.

Cavello Bay Reinsurance Ltd. v. Stein
Publication Date: 2020-03-31
Practice Area: Securities Litigation
Industry:
Court: U.S. District Court for the Southern District of New York, U.S. - SDNY
Judge: District Judge Kenneth Karas
Attorneys:
For plaintiff: Counsels for Plaintiff: Anthony B. Ullman, Esq., Timothy Jon Straub, Esq., Dentons US LLP, New York, NY.
For defendant: Counsel for Defendant Kenneth Shubin Stein: Robert A. O'Hare, Jr., Esq., O'Haire Parnagian LLP, New York, NY. Counsel for Defendants Spencer Capital Limited and Spencer Capital Holdings Ltd: Lea Haber Kuck, Esq., Colm P. McInerney, Esq., Skadden, Arps, Slate, Meagher & Flom LLP, New York, NY
Case number: 18-CV-11362

Parties' Stock Purchase Transaction Not 'Domestic' For Exchange Act Purposes

Dahle v. Pope
Publication Date: 2020-02-19
Practice Area: Corporate Governance
Industry: Technology Media and Telecom
Court: Court of Chancery
Judge: Vice Chancellor Glasscock
Attorneys:
For plaintiff: Blake A. Bennett, Cooch and Taylor, P.A., Wilmington, DE; Jeffrey M. Norton, Newman Ferrara LLP, New York, NY; Werner R. Kranenburg, Krankenburg, London, UK for plaintiffs.
For defendant: Edward B. Micheletti, Lilianna Anh P. Townsend, and Mary T. Reale, Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington, Delaware for defendants.
Case number: D68879

Plaintiffs' pre-suit communication to board constituted a Rule 23.1 demand where it asserted the need to take remedial action on a board decision, noted the company's susceptibility to shareholder action, and warned that plaintiffs would take advantage of shareholder remedies if no action were taken by the board.

Appellate Division, Second Department:February 5, 2020
Publication Date: 2020-02-07
Practice Area: Civil Appeals | Criminal Appeals
Industry:
Court: Appellate Division, Second Department, Hand Down List
Judge: Unsigned
Attorneys:
For plaintiff:
For defendant:
Case number: DOCKET

Appellate Division, Second Department:February 5, 2020

In re Essendant, Inc. Stockholder Litig.
Publication Date: 2020-01-15
Practice Area: Mergers and Acquisitions
Industry: Distribution and Wholesale
Court: Court of Chancery
Judge: Vice Chancellor Slights
Attorneys:
For plaintiff: Blake A. Bennett, Cooch and Taylor, P.A., Wilmington, DE; Juan E. Monteverde and Miles D. Schreiner, Monteverde & Associates PC, New York, NY; Donald J. Enright and Elizabeth K. Tripodi, Levi & Korsinsky, LLP, Washington, DC for plaintiffs.
For defendant: Robert S. Saunders, Arthur R. Bookout, and Lilianna Anh P. Townsend, Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington, DE; Gregory P. Williams, Lisa A. Schmidt, Matthew D. Perri, and Angela Lam, Richards, Layton & Finger, P.A., Wilmington, DE; and Matthew Solum, P.C., and Ian Spain, of Kirkland & Ellis LLP, New York, NY for defendants.
Case number: D68839

Stockholders' breach of fiduciary duty claims arising from board's rejection of existing merger agreement in favor of all-cash acquisition offer dismissed where stockholders failed to make prima facie case of board's breach of the duty of loyalty and where acquirer's stake in the company was insufficient to make it a controlling stockholder for the purposes of an aiding and abetting claim.

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