(Reuters) – Here are some upcoming events of interest to the M&A law community.
Monday, Oct. 11
9 a.m. – Vice Chancellor Lori Will in Wilmington, Delaware, will preside over the first day of trial for a derivative suit accusing Cantor Fitzgerald LP and a BGC Partners Inc board member of causing BGC to purchase a Cantor affiliate’s portfolio company for $875 million at public stockholders’ expense. Cantor and the director have denied wrongdoing.
The case is In Re BGC Partners Inc Derivative Litigation, Delaware Court of Chancery, No. 2018-0722. For the plaintiffs: Jeroen van Kwawegen and Christopher Orrico of Bernstein Litowitz Berger & Grossmann. For the independent BGC directors: Joseph De Simone, Michelle Annunziata and Michael Rayfield of Mayer Brown. For Lutnick and Cantor: Eric Leon of Latham & Watkins.
Wednesday, Oct. 13
10 a.m. – Representatives for former shareholders of cancer treatment maker Amplimmune Inc will ask the Delaware Supreme Court to revive a suit seeking at least $200 million from AstraZeneca unit MedImmune LLC for allegedly failing to make certain milestone payments as part of the companies’ 2013 merger. The lower court had ruled that the former shareholders hadn’t proved that one of the milestones was met or that another payment should have been made earlier.
The case is Kabakoff v. Zeneca, Delaware Supreme Court, No. 430-2020. For Kabakoff: Alexia Korberg and William Isaacson of Paul, Weiss, Rifkind, Wharton & Garrison. For Zeneca: Dane Butswinkas, Sarah Kirkpatrick and Jessica Pahl of Williams & Connolly.
1:30 p.m. – Longtime individual shareholders of Emisphere Technologies Inc will ask Vice Chancellor Joseph Slights III to appoint them as lead plaintiffs alongside Robbins Geller Rudman & Dowd and Friedlander & Gorris as co-lead counsel for a suit challenging the fairness of the pharmaceutical company’s $1.8 billion merger with diabetes-focused Novo Nordisk A/S. Another Emisphere shareholder, investment firm IsZo Capital, is vying for the lead plaintiff title with Bernstein Litowitz Berger & Grossmann and Olshan Frome Wolosky as co-lead counsel.
The case is Nicolae Barbulescu v. Mark H. Rachesky, et al.; Delaware Court of Chancery, No. 2021-0025. For Barbulescu: Randall Baron of Robbins Geller Rudman & Dowd; and Joel Friedlander of Friedlander & Gorris. For IsZo Capital: Mark Lebovitch of Bernstein Litowitz Berger & Grossmann; Adrienne Ward of Olshan Frome Wolosky. For Emisphere: Andrew Ditchfield of Davis Polk & Wardwell.
2 p.m. – The Delaware Senate will meet during a special session to consider Gov. John Carney’s court nominations, including the reappointment of Vice Chancellor J. Travis Laster.
Thursday, Oct. 14
1:30 p.m. – Self-driving car technology startup Zoox Inc will ask Chancellor McCormick to limit discovery for an appraisal petition related to the company’s $1.3 billion acquisition by Amazon Inc. Zoox has denied wrongdoing.
The case is James Wei v. Zoox Inc, Delaware Court of Chancery, No. 2020-1036. For Wei: Randall Baron of Robbins Geller Rudman & Dowd. For Zoox: Wachtell, Lipton, Rosen & Katz and David Teklits of Morris, Nichols, Arsht & Tunnell.
Friday, Oct. 15
10:00 a.m. – Attorneys for Bayer Aktiengesellschaft will urge U.S. District Judge Richard Seeborg in San Francisco to dismiss a proposed shareholder class action alleging the company misled investors about the level of due diligence it performed before acquiring Monsanto and about the cancer risk associated with its Roundup weed killer.
The case is City of Grand Rapids General Retirement System et al v. Bayer Aktiengesellschaft et al., U.S. District Court, Northern District of California, No. 3:20-cv-04737. For Bayer: Jordan Eth of Morrison & Foerster and William Savitt of Wachtell, Lipton, Rosen & Katz. For investors: Carol Gilden of Cohen Milstein Sellers & Toll and Nicole Lavallee of Berman Tabacco.
(UPDATE: This story has been updated with additional court proceedings happening Monday, Wednesday and Thursday.)
Know of an event that could be included in Week Ahead in M&A? Contact Sierra Jackson at sierra.jackson@thomsonreuters.com
