by The Delaware Counsel Group | Oct 13, 2011 | Law Updates, LU11
Document: Krieger v. Wesco Financial Corp., C.A. No. 6176-VCL (Del. Ch. Oct. 13, 2011) The Delaware Court of Chancery held that appraisal rights were not available in a stock/cash election merger because no stockholder was required to accept cash. In February 2011,...
by The Delaware Counsel Group | Oct 12, 2011 | Law Updates, LU11
Document: In re Goldman Sachs Grp., Inc. S’holder Litig., C.A. No. 5215-VCG (Del. Ch. Oct. 12, 2011) The Court of Chancery held that plaintiffs had failed to plead sufficient particularized facts to establish that making a demand on the board of directors of Goldman...
by The Delaware Counsel Group | Oct 6, 2011 | Law Updates, LU11
Document: Gaines v. Narachi, et al., C.A. No. 6784-VCN (Del. Ch. Oct. 6, 2011) The Court of Chancery granted the plaintiff’s motion to expedite a claim (following reargument) alleging that the defendant directors breached their fiduciary duty of disclosure by not...
by The Delaware Counsel Group | Sep 30, 2011 | Law Updates, LU11
Document: In re OPENLANE, Inc. S’holders Litig., C.A. No. 6849-VCN (Del. Ch. Sept. 30, 2011) The Court of Chancery found that plaintiffs did not have a reasonable likelihood of succeeding on the merits of their claims that a board breached its fiduciary duties by...
by The Delaware Counsel Group | Sep 30, 2011 | Law Updates, LU11
Document: Brinckerhoff v. Enbridge Energy Co., Inc., C.A. No. 5526-VCN (Del. Ch. Sep. 30, 2011) The Delaware Court of Chancery dismissed plaintiff’s claims that defendants, the general partner (the “GP”) of a master limited partnership (the “MLP”) and the GP’s board...
by The Delaware Counsel Group | Sep 23, 2011 | Law Updates, LU11
Document: Johnston v. Pedersen, C.A. No. 6567-VCL (Del. Ch. Sept. 23, 2011) The Court of Chancery found that written consents representing a majority of the outstanding voting power of Xurex, Inc. (“Zurex”) were effective to remove and replace Zurex’s incumbent...