On May 31, 2019, the Court of Chancery issued a 57-page memorandum opinion ordering Facebook Inc. to provide certain corporate books and records to various plaintiff investors, in the case
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Delaware Supreme Court Reverses Chancery Judgment, Awards Wind Farm Investor $126 million in Damages
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In the recent Delaware Supreme Court decision of Leaf Invenergy Co. v. Invenergy Renewables, LLC, No. 308, 2018 (Del. May 3, 2019), the High Court found that a nominal …
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Advancement Awarded to Delaware LLC Member by Court of Chancery
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In a recent opinion issued by the Delaware Court of Chancery, Freeman Family LLC v. Park Avenue Landing LLC, C.A. No. 2018-0683-TMR (Del. Ch. Apr. 30, 2019), Vice Chancellor…
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Delaware Supreme Court Overturns Chancery’s Aruba Appraisal Decision
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On April 17, 2019, the Delaware Supreme Court reversed a significant appraisal decision from the Delaware Court of Chancery in Verition Partners Master Fund, Ltd. v. Aruba Networks, Inc., No.
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Chancery Applies Rule 15(aaa) to Action Transferred from Superior Court
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In the recent decision of Otto Candies, LLC v. KPMG, LLP, C.A. No. 2018-0435-MTZ (Del. Ch. Apr. 25, 2019), the Delaware Court of Chancery found that Rule 15(aaa) applied…
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Court of Chancery Finds Personal Jurisdiction Lacking under the Implied Consent Statute of the LLC Act
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In the recent decision of CelestialRX Investments, LLC v. Krivulka, C.A. No. 11733-VCG (Del. Ch. Mar. 27, 2019), the Delaware Court of Chancery addressed whether certain named defendants were…
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Delaware Supreme Court Finds Ambiguity in Contract Terms; Overturns Lower Court’s Granting of Summary Judgment
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In the recent Delaware Supreme Court decision of Sunline Commercial Carriers, Inc. v. CITGO Petroleum Corp., No. 185,2018 (Del. Mar. 7, 2019), at issue between the parties to two…
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Section 220 Books and Records Demand Denied by Court of Chancery
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In the recent decision of Hoeller v. Tempur Sealy Int’l Inc., C.A. No. 2018-0336-JRS (Del. Ch. Feb. 12, 2019), the Court of Chancery adjudicated a books and records dispute…
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Books and Records Action Dismissed in Light of Parallel Plenary Proceeding
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In the recent decision of CHC Investments LLC v. Firstsun Capital Bancorp, C.A. No. 2018-0610-KSJM (Del. Ch. Jan. 24, 2019), the Court of Chancery dismissed a books and records…
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Chancery Addresses Directors’ Rights to Inspect Books and Records of Delaware Corporation
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A director of a Delaware corporation is afforded broad rights under 8 Del. C. § 220(d) to inspect a corporation’s books and records. In the recent decision of Schnatter v. …
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