July 2007

In Brandon v. Deason, (Del. Ch., July 20, 2007), read opinion here, the Delaware Chancery Court denied a motion to stay a Delaware derivative action, despite a parallel proceeding in Texas, due the the important, substantive issues of Delaware law at issue. The court described the objections of defendants  to the motion as "dilatory and

MetCap Securities LLC v. Pearl Senior Care, Inc., 2007 WL 195442 (Del. Ch., June 29, 2007), read opinion here.  This is a Chancery Court decision on a Motion for Reargument pursuant to Chancery Court Rule 59(f), of a decision previously summarized on this blog here. See MetCap Secs, LLC v. Pearl Senior

In TD Banknorth Shareholders Litigation,  (Del. Ch., July 19, 2007), read opinion here, the Chancery Court rejected a class action settlement related to the acquisition by the Toronto-Dominion Bank of the remaining publicly-held shares of the TD Banknorth. Here is court’s own summary of its main reasons for rejecting the settlement:

The review procedure employed at this time requires

Courtesy of the Harvard Corporate Governance Blog, here is a link to an article that summarizes recent Delaware Chancery Court cases that address issues surrounding the increasing involvement by private equity firms in M & A transactions. All the recent articles mentioned in the linked article have been noted on this blog. Here is

In Nama Holdings, LLC v. World Market Center Venture, LLC, 2007 WL 2088851 (Del. Ch., July 20, 2007), read opinion here, the Chancery Court ruled that the right to inspect books and records of an LLC pursuant to the terms of an Operating Agreement could be more restrictive than the scope allowable for inspection pursuant