In KT4 Partners LLC v. Palantir Technologies, Inc., C.A. No. N17C-12-212 EMD CCLD, Judge Davis granted in part and denied in part the defendants’ motions for summary judgment. The plaintiffs filed suit alleging that the defendants tortiously interfered with a prospective business relationship the plaintiffs had with CDH Investments (“CDH”) to sell the plaintiffs’ stock through…
In Humanigen, Inc. v. Savant Neglected Diseases, LLC, C.A. N17C-07-068 PRW CCLD, Judge Wallace denied a motion for summary judgment by Savant Neglected Diseases (“Savant”), granted in part and denied in part a motion for summary judgment by Humanigen, Inc. (“Humanigen”) and Madison Joint Venture LLC (“Madison” and, together with Humanigen, “H&M”), and granted a motion…
In CRE Niagara Holdings, LLC, et al. v. Resorts Group, Inc., C.A. No. N20C-05-157 PRW CCLD, Judge Wallace denied the defendant’s motion for reargument of its motion to dismiss, and also denied the defendant’s separate motion for stay or enlargement of time. The underlying dispute arose from Resorts Group, Inc.’s (“RGI”) 2017 sale of a resort…
In a footnote in a two-page order issued in 2018, the Delaware Supreme Court quietly reminded corporate law practitioners that, per the 1989 case of Mills Acquisition v. Macmillan, a complaint seeking post-closing Revlon damages can survive a motion to dismiss without pleading nonexculpated breaches of fiduciary duty by a majority of directors so long as…
In a footnote in a two-page order issued in 2018, the Delaware Supreme Court quietly reminded corporate law practitioners that, per the 1989 case of Mills Acquisition v. Macmillan, a complaint seeking post-closing Revlon damages can survive a motion to dismiss without pleading nonexculpated breaches of fiduciary duty by a majority of directors so long…
Bidding procedures orders entered by bankruptcy courts typically state that offers attempting to top a stalking horse bid must be “higher and better” than any competing bids. Offers have been found to be “better” even though they have a lower cash “headline” dollar value, where (1) the lower cash offeror also agrees to assume certain liabilities;…
On June 30, 2021 Governor Carney signed Senate Bill 104 (“S.B. 104”) enacting certain amendments to the Delaware unclaimed property statute (12 Del. C. § 1130 et seq). It is the first significant amendment of the Delaware unclaimed property statute since the complete amendment and restatement of the statute in 2017. The key aspects of…
Section 220 of the General Corporation Law of the State of Delaware provides stockholders with the right to inspect the books and records of a corporation for a “proper purpose” that is “reasonably related to such person’s interest as a stockholder.” Delaware courts have long urged stockholders to utilize Section 220 investigations as one of the…
The U.S. Equal Employment Opportunity Commission (EEOC) and the U.S. Labor Department’s Occupational Safety and Health Administration (OSHA) recently issued updated guidance regarding vaccines for all employers and new mandatory safety rules for health-care settings, respectively, related to workplace practices and COVID-19. EEOC Guidance: Workplace Practices Related to COVID-19 Vaccination On May 28, 2021, the EEOC…