Week Ahead in Mergers and Acquisitions: Nov. 1, 2021

(Reuters) – Here are some upcoming events of interest to the M&A legal community.

Tuesday November 2nd

10:00 am – Noble Energy’s board of directors will ask Vice Chancellor Sam Glasscock III to dismiss a former shareholder’s lawsuit accusing him of authorizing the sale of the energy company to Chevron Corp through an alleged “unfair” process at an “unreasonable” price to have. The board members reject the allegations.

The case is Stephanie Galindo et al v David L Stover et al, Delaware Court of Chancery, No. 2021-0031. For Galindo: Juan Monteverde of Monteverde & Associates. For the Board of Directors: Robert Harrell, Charles Kelley, Joseph De Simone and Michael Rayfield from Mayer Brown.

1:30 p.m. – Mortgage startup Better Holdco and blank check firm Aurora Acquisition Corp will ask Vice Chancellor Morgan Zurn to dismiss a Better shareholder’s lawsuit over the company’s $ 7.7 billion merger. Pine Brook Capital Partners II LP has challenged Better’s right to buy back the shareholder’s stake at a low price. The companies deny wrongdoing.

The case is Pine Brook Capital Partners II LP v Better Holdco Inc et al., Delaware Court of Chancery, No. 2021-0649. For Pine Brook: Scott Musoff and Jenness Parker of Skadden, Arps, Slate, Meagher & Flom. For Aurora: Peter Tomczak and L. Andrew Riccio of Baker McKenzie. For Better: Jonathan Pickhardt and Rex Lee from Quinn Emanuel Urquhart & Sullivan.

Wednesday 3rd November

11:10 am – Shire Pharmaceuticals LLC will seek the Delaware Supreme Court to overturn a lower court finding that the company violated its agreement to purchase an investigational drug by failing to make a milestone payment. Shire claims it doesn’t owe $ 45 million in payment to the drug seller, FerroKin BioSciences Inc., because the drug’s potential to cause cancer has prevented human trials from being completed.

The case is Shire US Holdings v Shareholder Representative Services LLC, Delaware Supreme Court, No. 170-2021. For Shire: Donald Verrilli Jr. and Ginger Anders von Munger, Tolles & Olson; and Timothy Mungovan and Colin Cabral from Proskauer Rose. For SRS: Stuart Gasner from Keker, Van Nest & Peters and David Frederick from Kellogg Hansen Todd Figel & Frederick.

Thursday 4th November

1:00 pm – The American Bar Association is hosting a webinar entitled “New Agency Leadership: Antitrust Enforcement Outlook,” to discuss how the new US antitrust agency will affect enforcement. The event will be moderated by Erica Weisgerber from Debevoise & Plimpton. Speakers include Gail Levine from Mayer Brown; Bernard Nigro Jr. of Fried Frank Harris Shriver & Jacobson; and Daniel Sokol from USC Gould School of Law. For further information, click here.

2:00 p.m. – CFI Software will ask Judge Sherry Fallon of Wilmington, Delaware, to dismiss a lawsuit alleging the software company against a 2013 agreement to sell its stake in customer experience technology company ForeSee Results Inc. Violating Answers Corp., which operates Answers. com. Verint Americas Inc, which bought ForeSee in 2019 from Answers, says CFIs are breaking the 2013 contract by filing federal lawsuits against Forsee for allegedly unfair competitive practices.

The case is Verint Americas Inc. v Fornell et al., US District Court for the District of Delaware, No. 1: 21-cv-00674. For Verint: C. Lee Wilson of Jones Day. For Fornell: Margaret DiBianca of Clark Hill; and Justin Callaway and Sally Daugherty of Salmon, Ricchezza, Singer & Turchi.

(UPDATE: This story has been updated to remove a hearing originally scheduled for November 1st after it was canceled.)

Do you know of an event that could be included in Week Ahead in M&A? Contact Sierra Jackson at sierra.jackson@thomsonreuters.com

Sierra Jackson

Sierra Jackson reports on legal matters relating to major mergers and acquisitions, including deal work, litigation, and regulatory changes. You can reach them at sierra.jackson@thomsonreuters.com

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