In Raider v. Sunderland, download file, the Chancery Court awarded a bonus payment to the individual plaintiff, to be deducted from class counsel’s fees. The court allocated an amount to the class representative based on a careful consideration of the special expertise that this individual brought to the case, and which expertise was
January 2006
New Articles on Delaware Corporate and Commercial Law
By Francis Pileggi on
Posted in Commentary
The current issue of the ABA publication The Business Lawyer, just came in the mail today (though the cover describes it as the August 2005 edition), and there are several articles by luminaries and living legends on topics of Delaware corporate and commercial law (including at least one sitting Vice Chancellor and one former…
Justice Alito
By Francis Pileggi on
Posted in Commentary
Advancement v. Indemnification and Integration Clauses
By Francis Pileggi on
Posted in Court of Chancery Updates
In Brady v. i2 Technologies, Inc., download file, the Chancery Court interprets several agreements which provided for advancement and indemnification. It interpreted the integration clause of a later agreement in such a way that it continued to allow the advancement of fees for officers and directors.
The court clarified the distinction between advancement…
Dilution; Preemption and Arbitrability Addressed
By Francis Pileggi on
Posted in Court of Chancery Updates
Flight Options International v. Flight Options LLC, 2005 WL 2335353 (Del.Ch.), download file, involved two members of an LLC for which all of the capital and credit needed to maintain the company was provided by the majority owner. The parties agreed that the issues were arbitrable and did not address whether the court…
Alito Update
By Francis Pileggi on
Posted in Commentary
The New York Times reports that the Senate voted today to end debate (and avert a filibuster) on the nomination of Judge Alito, thereby almost assuring his confirmation tomorrow:
Senate Votes to End Debate on Alito Nomination – New York Times
Local Counsel Not Liable for Pro Hac Lawyer’s Acts
By Francis Pileggi on
Posted in Other Court Decisions
Last month a New Jersey appellate court found that despite local counsel being responsible for the course of litigation conducted by pro hac vice counsel, local counsel does not have absolute liability for out-of-state counsel’s misdeeds. Masone v. Levine, N.J. Super. Ct., A.D., download file. The Court relied on federal cases in New…
Teflon Directors
By Francis Pileggi on
Posted in Commentary
Larry Ribstein comments on an article in the New York Times about directors who continue to serve despite less than stellar records.
Arbitrability Issues Addressed Again
By Francis Pileggi on
Posted in Court of Chancery Updates
Vice Chancellor Strine decided a second case this month dealing with arbitrability of a claim, based on an interpretation of an arbitration clause and whether it covered the claims being presented to the court. Douzinas v. American Bureau of Shipping, Inc., download file, 2006 WL 167788 (Del. Ch.). Unlike the issue addressed in…
Appraisal Decision Adjusted After Reconsideration
By Francis Pileggi on
Posted in Court of Chancery Updates
In Henke v. Trilithic, download file, the Chancery Court, based on a Motion for Reargument and Reconsideration, revised certain aspects of its October 2005 opinion in which the court determined an appraisal value for the shares of Trilithic. That prior appraisal decision was summarized here.
The petitioner claimed on reargument that the…