On October 21, 2021, the Delaware Supreme Court affirmed the trial victory of Williams & Connolly’s client, AstraZeneca, following a February 2020 bench trial before the Delaware Court of Chancery. Agents for the former shareholders of Amplimmune, a pharmaceutical company acquired by an affiliate of AstraZeneca PLC, sought $275 million in milestone payments they alleged were owed from the 2013 merger of the two companies. After the Court of Chancery rejected plaintiffs’ “commercially reasonable efforts” claim at summary judgment, Williams & Connolly defended the remaining claims in a February 2020 trial that focused on cutting edge efforts to treat cancer. In November 2020, the Court of Chancery issued a thorough opinion rejecting plaintiffs’ remaining breach of contract claims in all respects and entering judgment in favor of AstraZeneca, and on October 21, 2021, the Delaware Supreme Court affirmed.
Partner Sarah Kirkpatrick argued the case before the Delaware Supreme Court. The team representing AstraZeneca also includes Dane Butswinkas, Jessica Pahl, and Peter Jorgensen.
Click here to read Law360’s coverage of the case.