SS M&A Litigation Outlook - Flipbook - Page 44
Our team is efficient and effective even under the
most strenuous circumstances. In 2020, we secured
several victories in connection with requests for
injunctive relief, often briefing the issues in a
matter of days or weeks.
• Defeated a preliminary injunction motion
that sought to shut down our start-up technology
clients focused on producing and commercializing
sugar alternatives. The case, which involves claims
by the joint venture partner alleging fraudulent
inducement, unauthorized affiliate transactions,
mismanagement of the company’s finances, and
exceeding the company’s purpose, is proceeding in
Delaware Chancery Court.
• Won a preliminary injunction battle on
behalf of the special committee of the board of
directors in litigation arising from a “go private”
transaction between the controlling stockholder
and a NASDAQ-listed plastics manufacturer for
the automobile industry.
• Defeated a temporary restraining order
in the SDNY, in a lawsuit involving our telecommunications investment fund client, where the
plaintiff sought to shut down a months’ long sales
process for assets valued in excess of US$1 billion.
We have vast experience on the defense side, but we
can also act as plaintiffs’ counsel to protect the rights
of our clients.
• We successfully defeated a motion to dismiss in
federal court challenging the standing of our client,
a minority investor pursuing claims against a
controller for self-dealing breach of fiduciary duty
and misappropriation of trade secrets.
• We defeated a motion to dismiss our natural gas
clients’ claim for tortious interference with the
acquisition of a regulated natural gas storage
facility, including an award of our attorneys’ fees.
• We also defeated a motion to dismiss in Delaware
Chancery Court, with the court permitting our
client to proceed with its claims for fraud and
breach of contract stemming from its US$106
million purchase of a cloud computing and data
services company in 2018.
In addition, we are actively litigating a number of
large cases across a broad array of industries, such as:
• In what the media has described as the largest
action even on the island of Puerto Rico, currently
representing our client in a RICO action pending
in the District of Puerto Rico brought by residents
of Puerto Rico against 15 defendants: the world’s
largest fuel suppliers, PREPA (Puerto Rico’s public
utility), and fuel testing laboratories for allegations
that PREPA improperly overcharged consumers
for fuel;
• Currently representing a U.S. aerospace and
defense company in connection with individual
and class actions arising from its US$5 billion
acquisition of a technology-based manufacturer;
• Currently representing in the SDNY one of
the defendants in civil actions against various
individuals alleged to be connected to one of
the most highly publicized hedge fund frauds
since the Madoff scandal against claims of
breaches of fiduciary duty, fraud, conspiracy,
and mail and wire fraud under the RICO
statute, among other claims;
• Currently advising a global medical device
company in connection with federal securities class
actions, derivative litigation, 220 demands, and an
SEC investigation arising from multiple alleged
earnings misses;
• Currently, for a specialty finance company in a
lawsuit recently filed in Delaware Chancery Court
against a former director and officer alleging
breaches of an employment agreement and duties
to the company in which they are an investor;
• Currently representing an American
semiconductor company in connection with
individual and class actions arising from its US$10
billion cash and stock acquisition of another
semiconductor company; and
• Currently representing a thermal imaging
company and its board of directors in
connection with individual and class actions
arising from its US$8 billion sale to an
aerospace and defense company.
These examples represent just a sample of our
team’s experience and successes in 2020 and we are
poised to help our clients tackle the new challenges
already presented in 2021 – and beyond.
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