Chancery Court Approves Settlement Subject to Objectors Making a Topping Bid

by VeloCap Media | May 9, 2012 | Law Updates, LU12

Document:  Forsythe, et al. v. Esc Fund Mgmt. Co. (U.S.) I, L.P., et al, C.A. No. 1091-VCL (Del. Ch. May 9, 2012) The Delaware Court of Chancery determined that it would enter an order approving a proposed settlement of a long-running derivative action in 60 days...

Chancery Court Enjoins Proxy Contest and Hostile Takeover

by VeloCap Media | May 4, 2012 | Law Updates, LU12

Document:  Martin Marietta Materials, Inc. v. Vulcan Materials Co., C.A. No. 7102-CS (Del. Ch. May 4, 2012) The Delaware Court of Chancery enjoined Martin Marietta Materials, Inc. (“Marietta”) from prosecuting a proxy contest and pursuing a hostile bid for...

Chancery Court Declines to Dismiss Claim for Breach of the Implied Covenant of Good Faith and Fair Dealing

by VeloCap Media | Apr 26, 2012 | Law Updates, LU12

Document: JPMorgan Chase & Co. v. American Century Companies, Inc., C.A. No. 6875-VCN (Del. Ch. Apr. 26, 2012) The Delaware Court of Chancery found that JPMorgan Chase & Co. (“JPMorgan”) stated a claim for breach of the implied covenant of good...

Chancery Court Expedites Action Seeking to Enjoin the Enforcement of An Advance Notice Bylaw

by VeloCap Media | Apr 20, 2012 | Law Updates, LU12

Document: Icahn Partners LP v. Amylin Pharmaceuticals, Inc., C.A. No. 7404-VCN (Del. Ch. Apr. 20, 2012) The Delaware Court of Chancery granted plaintiffs’ motion to expedite an action seeking to enjoin the enforcement of an advance notice bylaw in connection...

Chancery Court Denies Defendants’ Motion To Dismiss Revlon Claims

by VeloCap Media | Apr 11, 2012 | Law Updates, LU12

Document:  In re Answers Corp. S’holder Litig., C.A. No. 6170-VCN (Del. Ch. Apr. 11, 2012) The Delaware Court of Chancery declined to dismiss a complaint alleging that the directors of Answers Corporation (“Answers”) breached their fiduciary duties...

Chancery Court Declines to Remove Sitting Director Prior to the Adjudication of Claims Against Him

by VeloCap Media | Apr 10, 2012 | Law Updates, LU12

Document: Shocking Technologies, Inc. v. Michael, C.A. No. 7164-VCN (Del. Ch. April 10, 2012)  The Delaware Court of Chancery dismissed a claim brought by Shocking Technologies, Inc. (“Shocking”) against one of its directors seeking the director’s...