Davis Polk successfully represented Dialog Semiconductors in litigation related to the earnout provisions in its 2013 acquisition of iWatt. In April 2014, Fortis Advisors—acting on behalf of former iWatt equity holders—filed a suit in the Delaware Court of Chancery against Dialog, asserting claims for breach of contract, fraud, breach of the implied covenant of good faith and fair dealing, and negligent misrepresentation. Dialog moved to dismiss all claims except the claim for breach of contract. In January 2015, Chancellor Andre Bouchard issued an opinion granting the motion in its entirety. In April 2015, our client reached a very favorable (pennies on the dollar) settlement with Fortis Advisors over the remaining claim.
The Davis Polk litigation team includes partners Neal A. Potischman and William M. Kelly, associates Andrew Yaphe and Alyse Katz. All members of the Davis Polk team are based in the Menlo Park office.