Kormos v. Playtika Holding UK II Ltd.
Publication Date: 2024-05-20Practice Area:Corporate Governance
Industry:Entertainment and Leisure |
Technology Media and Telecom
Court: Court of ChanceryJudge: Vice Chancellor GlasscockAttorneys:For plaintiff: Peter B. Andrews, Craig J. Springer, David M. Sborz, Andrew J. Peach, Christopher P. Quinn, Jackson E. Warren, Andrews & Springer LLC, Wilmington, DE; Ned Weinberger, Casimir O. Szustak, Labaton Sucharow LLP, Wilmington, DE; Jeremy S. Friedman, David F.E. Tejtel, Friedman Oster & Tejtel PLLC, Bedford Hills, NY; John Vielandi, Joshua M. Glasser, Labaton Keller Sucharow LLP, New York, NY; D. Seamus Kaskela, Adrienne Bell, Kaskela Law LLC, Newtown Square, PA for plaintiffs.For defendant: Brian C. Ralston, Charles R. Hallinan, Potter Anderson & Corroon LLP, Wilmington, DE; Andrew R. Gray, Ryan A. Walsh, Natasha Pardawala, Latham and Watkins LLP, Costa Mesa, CA; R. Judson Scaggs, Jr., Susan W. Waesco, Kirk C. Andersen, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Dean Kristy, Fenwick & West LLP, San Francisco, CA; Felix S. Lee, Fenwick & West LLP, Mountain View, CA for defendants.Case number: 2023-0396-SG
Breach of fiduciary duty claims failed where plaintiffs failed to allege facts demonstrating that defendants took actions that were to the company's detriment or that interfered with the board's special committee's negotiations for a self-tender.
This article covers the legal and privacy considerations related to the rise of artificial intelligence. The authors discuss what AI is and how companies obtain the data for those sets along with the risks consumers face in having their data collected and ingested into AI systems, specifically for training purposes. They also identify possible ways consumers can protect their data.
11 minute read
Miskey v. New York Community Bancorp Inc.
Publication Date: 2024-05-15Practice Area:Civil Procedure |
Securities Litigation
Industry: Financial Services and Banking
Court: U.S. District Court for the Eastern District of New York, U.S. - EDNYJudge: Magistrate Judge James R. ChoAttorneys:For plaintiff: For defendant: Case number: 24-CV-1118
Class Actions Are Consolidated; Actions Arose From Bank's Purchase, Have Common Issues
City of Sarasota Firefighters' Pension Fund v. Inovalon Holdings, Inc.
Publication Date: 2024-05-13Practice Area:Mergers and Acquisitions
Industry:E-Commerce |
Health Care |
Investments and Investment Advisory
Court: Delaware Supreme CourtJudge: Justice ValihuraAttorneys:For plaintiff: Ned Weinberger, Brendan W. Sullivan, Labaton Sucharow LLP, Wilmington, DE; John Vielandi, Labaton Sucharow LLP, New York, NY; Jeremy Friedman, David Tejtel, Friedman Oster & Tejtel PLLC, Bedford Hills, NY; Lee D. Rudy, Eric L. Zagar, J. Daniel Albert, Geoffrey C. Jarvis, Grant D. Goodhart, III, Kessler Topaz Meltzer & Check, LLP, Radnor, PA for appellants.For defendant: Raymond J. DiCamillo, Kevin M. Gallagher, Craig K. Ferrere, Richards, Layton & Finger, P.A., Wilmington, DE; William M. Lafferty, Ryan D. Stottmann, Alexandra M. Cumings, Morris Nichols Arsht & Tunnell LLP, Wilmington, DE; Blair Connelly, Latham & Watkins LLP, New York, NY; Kristin N. Murphy, Ryan A. Walsh, Latham & Watkins LLP, Costa Mesa, CA for appellees.Case number: 2022-0698
Court reversed dismissal of action challenging corporate acquisition where proxy statement failed to disclose advisors' conflicts of interest and erroneously described the advisors' roles in the transaction.
ALM is pleased to announce the finalists and honorees for the 2024 Elite Trial Lawyers awards. The winners will be named at an award ceremony to be held in New York City on July 11.
5 minute read
The high court's decision is the latest to map out steps corporations need to take when handling a controller-involved transaction.
4 minute read
In re Carvana Co. Stockholders Litig.
Publication Date: 2024-04-08Practice Area:Corporate Entities
Industry:Automotive |
E-Commerce |
Investments and Investment Advisory
Court: Court of ChanceryJudge: Chancellor McCormickAttorneys:For plaintiff: Christine M. Mackintosh, Rebecca A. Musarra, Grant & Eisenhofer, P.A., Wilmington, DE; Kimberly A. Evans, Robert Erikson, Irene R. Lax, Block & Leviton LLP, Wilmington, DE; Jason M. Leviton, Amanda R. Crawford, Block & Leviton LLP, Boston, MA; Ned Weinberger, Mark Richardson, Jiahui (Rose) Wang, Labaton Keller Sucharow LLP, Wilmington, DE; Domenico Minerva, John Vielandi, Labaton Keller Sucharow LLP, New York, NY for plaintiffs.For defendant: Joseph R. Slights III, Brad D. Sorrels, Shannon E. German, Leah E. León, Wilson Sonsini Goodrich & Rosati, P.C., Wilmington, DE; David E. Ross, Adam D. Gold, R. Garrett Rice, Ross Aronstam & Moritz LLP, Wilmington, DE; Brian M. Lutz, Gibson, Dunn & Crutcher LLP, San Francisco, CA; Colin B. Davis, Katie Beaudin, Gibson, Dunn & Crutcher LLP, Irvine, CA; John L. Reed, Ronald N. Brown, III, Peter H. Kyle, Kelly L. Freund, DLA Piper LLP (US), Wilmington, DE for defendants.Case number: 2020-0415-KSJM
Court granted special litigation committee's motion to dismiss derivative action where members were sufficiently independent and disinterested and conducted a seven-month-long investigation that uncovered sufficient evidence to support the decision to move to dismiss.
City of Dearborn Police & Fire Revised Ret. Sys. v. Brookfield Asset Mgmt. Inc.
Publication Date: 2024-04-08Practice Area:Mergers and Acquisitions
Industry:Investments and Investment Advisory
Court: Delaware Supreme CourtJudge: Justice ValihuraAttorneys:For plaintiff: Ned Weinberger, Mark Richardson, Brendan W. Sullivan, Labaton Sucharow LLP, Wilmington, DE; Peter B. Andrews, Craig J. Springer, David M. Sborz, Jackson E. Warren, Andrews & Springer LLC, Wilmington, DE; John Vielandi, Labtaton Sucharow LLP, New York, NY; Jeremy Friedman, David Tejtel, Friedman Oster & Tejtel PLLC, Bedford Hills, NY; Douglas E. Julie, W. Scott Holleman, Garam Choe, Julie & Holleman LLP, New York, NY; Brian J. Robbins, Stephen J. Oddo, Robbins LLP, San Diego, CA for appellants.For defendant: Kevin G. Abrams, Eric A. Veres, Abrams & Bayliss LLP, Wilmington, DE; John A. Neuwirth, Stefania D. Venezia, Amanda K. Pooler, Elizabeth M. Sytsma, Tanner S. Stanley, Weil, Gotshal & Manges LLP, New York, NY for appellees.Case number: 241, 2023
Chancery court erred in reviewing squeeze-out merger under business judgment review where proxy statement failed to disclose potential conflicts of interest of the special committee's financial and legal advisors.
Conte v. Greenberg
Publication Date: 2024-02-19Practice Area:Corporate Governance
Industry:Consumer Products |
Manufacturing
Court: Court of ChanceryJudge: Vice Chancellor ZurnAttorneys:For plaintiff: Thomas A. Uebler, Terisa A. Shoremoun, McCollom D’Emilio Smith Uebler LLC, Wilmington, DE; Melinda A. Nicholson, Nicolas Kravitz, Kahn Swick & Foti, LLC, New Orleans, LA; Roger A. Sachar, Newman Ferrara LLP, New York, NY; Domenico Minerva, Labaton Sucharow LLP, New York, NY for plaintiff.For defendant: A. Thompson Bayliss, E. Wade Houston, Eliezer Y. Feinstein, Daniel G. Paterno, Abrams & Bayliss LLP, Wilmington, DE; Brad D. Brian, John M. Gildersleeve, Abraham B. Dyk, Munger, Tolles & Olson LLP, Los Angeles, CA; Kenneth J. Nachbar, Susan W. Waesco, Miranda N. Gilbert, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Abby F. Rudzin, O’Melveny & Myers LLP, New York, NY; Matthew F. Davis, Tyler J. Leavengood, Potter Anderson & Corroon LLP, Wilmington, DE; Kenneth A. O’Brien, Jr., Sheppard Mullin Richter & Hampton LLP, Los Angeles, CA for defendants.Case number: 2022-0633-MTZ MEMORANDUM OPINION
Plaintiff failed to plead demand futility due to the lack of directors' personal liability for oversight and corporate waste claims, as the failure to implement a formal policy governing executives' personal use of corporate aircraft did not, by itself, amount to bad faith, and any financial loss from personal use constituted a fraction of a percentage of the company's expenses and profits.