Bloomberg Law

Saudi Royals and Shari Redstone

Textual content messages from executives, emails to legislation corporations, and approval for a contractor to wash up a Beverly Hills property are among the issues plaintiffs are searching for in Delaware’s Chancery Courtroom this week.

Right here’s a have a look at the circumstances on the court docket’s calendar:

Tuesday: In Re Madison Sq. Backyard Ent. Corp. Stockholder Litig., Del. Ch., No. 2021-0468, oral argument 1/17/23.

At concern: A pension fund main a problem to a deliberate merger between Madison Sq. Backyard Leisure Corp. and one other affiliate of New York Knicks proprietor James Dolan is making an attempt to compel the discharge of textual content messages from present and former MSG Leisure executives.

Courtroom motion: Movement to compel

Knicks’ Dolan, Isiah Thomas Sued Over MSG Affiliate Merger

Wednesday: In re CBS Corp. Stockholder Class Motion & By-product Litig., Del. Ch., No. 2020-0111, oral argument 1/18/23.

At concern: CBS Corp. shareholders search to compel the discharge of a 2019 e-mail that media mogul Shari Redstone, daughter of the late Sumner Redstone, despatched her attorneys concerning authorized recommendation about CBS’s $11.7 billion merger with Viacom Inc. Shareholders of each CBS and Viacom declare they received shortchanged within the deal.

Courtroom motion: Oral argument in Dover, Del.

CBS Traders’ Viacom-Merger Go well with Can Proceed, Decide Says

Thursday: Salladay v. Albertine, Del. Ch., No. 2019-0048, telephonic listening to 1/19/23.

At concern: Former Intersections Inc. shareholder Lance Salladay has requested the court docket to approve a proposed $9 million settlement to a category of Intersections stockholders. He additionally seeks approval of an “all-in” award of attorneys’ charges and bills of $2.07 million. Salladay led a 2019 problem over the merger of the credit score administration and id safety companies supplier with WC SACD One Inc.

Courtroom motion: Settlement listening to

Intersections Board Members Should Face Class Motion Over 2018 Purchase

Thursday: Abdulaziz Al Saud v. Abdulrahman Al-Athel, Del. Ch., No. 2018-0364, oral argument 1/19/23.

At concern: Two Saudi royals are battling over who will change stained carpets and wilted landscaping at a once-luxe Beverly Hills compound so it may be offered. A lawyer for Princess Fahdah Husain Abdulrahman Al-Athel says her ex-husband—Prince Faisal Bin Abdullah Bin Abdulaziz Al Saud—is holding up repairs for 2 manor homes on the two.3-acre property. She needs a decide to order the prince to log off on a contractor to do the work.

Courtroom motion: Movement to implement settlement settlement

Saudi Royals’ Stained Carpets Maintain Up Sale of Mansions

Thursday: Burkhart v. Genworth Monetary Inc., Del. Ch., No. 2018-0691, listening to 1/19/23.

At concern: Policyholders declare that in 2015 and 2016, Genworth Life Insurance coverage Firm made fraudulent transfers, as the corporate was already bancrupt on the time. They need the court docket to compel the discharge of paperwork regarding bids made for all or a part of the corporate in these years, together with the preparation of monetary statements which worth the corporate’s belongings and liabilities in reference to a failed merger with China Oceanwide Holdings Group Co. Ltd.

Courtroom motion: Movement to compel manufacturing of bid and valuation paperwork

Genworth Scores Novel Win Over Fraudulent Asset Switch Claims

Thursday: Greenfield v. Vardis, Del. Ch., No 2022-0271, Zoom oral argument 1/19/23.

At concern: An early supporter of cryptocurrency cost processor MoonPay Inc. sued its backers for $10 million, claiming HODL Enterprise Capital duped him into promoting his stake for a pittance as a part of a scheme to “filter out” small companions earlier than a $555 million sequence A financing spherical.

Courtroom motion: Movement to dismiss

MoonPay Backers Duped Early Investor Earlier than Financing, Go well with Says

Friday: Joffe v. Neustar Inc., Del. Ch., No. 2022-1041, Zoom listening to 1/20/23.

At concern: Rodney Joffe, a cybersecurity professional who labored for years with the FBI, alleges Neustar Inc. owes him authorized charges and bills associated to ongoing litigation involving former President Donald Trump and a federal investigation of actions Joffe took whereas he was an government on the firm, together with wanting into potential overseas interference within the 2016 presidential election. Neustar denies the allegations.

Courtroom motion: A listening to scheduled earlier this month was continued.

Friday: Press v. Acacia Analysis Corp., Del. Ch., No. 2022-1209, telephonic listening to 1/20/23.

At concern: Acacia Analysis Corp. has been sued by Clifford Press, its CEO since 2019, over claims the corporate concluded a recapitalization cope with activist hedge fund Starboard Worth LP by falsely saying Press had resigned whereas below investigation.

Courtroom motion: Motions for expedited proceedings and a establishment order that will hold Press on the board of administrators pending the decision of his lawsuit.

Starboard-Backed Acacia Sued by CEO it Accused of Misconduct

Friday: Kuramo Africa Choose Grasp Fund II LP v. Seruma, Del. Ch., No. 2021-0323, listening to 1/20/23.

At concern: A Kuramo Capital Administration LLC fund needs to oust the supervisor of its investments in a Democratic Republic of the Congo palm oil plant over his alleged scheme to loot the enterprise by restructuring a fancy internet of entities with overlapping possession stakes.

Courtroom motion: Movement to compel the defendants to supply their pre-litigation communications with the legislation agency DLA Piper LLP.

Kuramo Capital Accuses Congo Funding Accomplice of Looting Plant

Author: ZeroToHero

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