by The Delaware Counsel Group, LLC | Dec 11, 2008 | Law Updates, LU08
Document: Kahn v. Portnoy, C.A. No. 3515-CC, Chandler, C. (Del. Ch. Dec. 11, 2008) Plaintiff brought suit against the directors of an LLC for breach of fiduciary duty where the LLC’s operating agreement explicitly imported the fiduciary duty principles of Delaware...
by The Delaware Counsel Group, LLC | Dec 11, 2008 | Law Updates, LU08
Document: Aveta Inc., et al. v. Bengoa, C.A. No. 3598-VCL, Lamb, V.C. (Del. Ch. Dec. 11, 2008) The Court of Chancery granted plaintiffs’ motion for judgment on the pleadings and ordered the parties to arbitrate all claims at issue regarding certain post-closing...
by The Delaware Counsel Group, LLC | Nov 26, 2008 | Law Updates, LU08
Document: Off v. Ross, et al., C.A. No. 3468-VCP, Parsons, V.C. (Del. Ch. Nov. 26, 2008) Plaintiff brought a class action and derivative suit against the board of trustees of a Delaware statutory trust for breach of fiduciary duty in connection with a convertible...
by The Delaware Counsel Group, LLC | Nov 25, 2008 | Law Updates, LU08
Document: Brinkerhoff v. Texas Eastern Products Pipeline Co., LLC, et al., C.A. No. 2427-VCL, (“TEPPCO”) Lamb, V.C. (Del. Ch. Nov. 25, 2008) Plaintiff alleged that the defendant directors breached their fiduciary duties by causing TEPPCO Partners L.P. to enter into...
by The Delaware Counsel Group, LLC | Nov 7, 2008 | Law Updates, LU08
Document: Cargill, Inc., et al. v. JHW Special Circumstance LLC, C.A. No. 3234-VCP, Parsons, V.C. (Del. Ch. Nov. 7, 2008) The representative of a Delaware statutory trust (the “Trust”) brought suit against the Trust’s managing owner (the “Managing Owner”) for breach...
by The Delaware Counsel Group, LLC | Oct 22, 2008 | Law Updates, LU08
Document: Comet Systems, Inc., et al. v. MIVA, Inc., C.A. No. 2793-VCL, Lamb, V.C. (Del. Ch. Oct. 22, 2008) In calculating an earnout as part of a merger agreement, the Court found that an employee bonus plan which paid out solely in the event of an acquisition or...
