It’s Just Business

Analysis of North Carolina Business Court Decisions (and other musings)

Latest from It’s Just Business

It turns out there is something more difficult than the financing and development of a luxury retirement community, the long life of which spanned from its initial municipal approval in 2002, through the 2008 financial crisis, and included the 2018 bankruptcy of a key player.

Explaining it.

In Sears Farm, LLC v. Samaritan Hous. Found.,

A counterclaim plaintiff’s claims in a complex trade secret action involving the development of cell-cultured human milk suffered a rather pedestrian fate given the important technological stakes. The counterclaim defendants had actual notice of the claims, but defective service under Rule 4 ended them before they began.

In BIOMILQ, Inc. v. Guiliano, 2023 NCBC 91A

So-called “new wave” stockholder agreements that purport to meaningfully limit a board’s authority to manage a corporation got a recent stern look from the Delaware Court of Chancery in West Palm Beach Firefighters’ Pension Fund v. Moelis & Company, No. 2023-0309-JTL (Del. Ch. Feb. 23, 2024). Our colleagues Emily Yukich and Jonathan Dolgin discuss here

After a “hotly contested” four-year litigation that resulted in mutual, without prejudice dismissals, the plaintiff in Vitaform, Inc. v. Aeroflow, Inc., 2023 NCBC 76, said it would refile and try again.  But first, the Business Court entertained defendants’ claim that the first go-round merited a nearly $1 million award of attorney’s fees for bad

PreGel America makes and distributes products used in the gelato, ice cream and pastry business. But it alleges a far less than sweet experience with its former CEO, who the company says approved unauthorized personal salary hikes, misused corporate resources, and misappropriated corporate funds for his own benefit.

In PreGel America, Inc. v. Casol, 2023