Chancery Court Approves Class Action Settlement Involving Countrywide, and Attorneys’ Fees for Plaintiffs’ Attorneys Based on Therapeutic Disclosures
In re Countrywide Corp. S’holders Litig., 2009 WL 2595739 (Del. Ch., Aug. 24, 2009), read letter decision here. The Chancery Court’s separate letter decision of August 28, 2009 approving legal fees relating to the settlement in this case can be read here. Prior Decisions The prior decision … Continue reading
Chancery Court Orders: Clawback of Data; and Counting of Omitted Votes
ACS State Healthcare, LLC v. Wipro, Inc. and Wipro, Ltd., No. 4385-VCP (Del Ch., July 23, 2009), read Order here; and In Re: Waddell & Reed Financial, Inc., No. 4602-CC (Del. Ch., June 12, 2009), read Order here. The two above Orders of … Continue reading
Chancery Court Addressed Creation of Attorney/Client Relationship and Determination of When Privilege Applies to Communications
PharmAthene, Inc. v. SIGA Technologies, Inc., No. 2627-VCP, (Del. Ch., July 10, 2009), read letter decision here. Read summary of prior opinion of the Chancery Court in this case here. Issues Addressed This ruling addressed two issues: (i) under what circumstances … Continue reading
Fiduciary Duties and Preferred Stockholders
Professor Stephen Bainbridge, a nationally recognized corporate law scholar, provided today here a learned analysis of the duties owed to preferred stockholders, compared with common stockholders, and contrasted with bondholders. His discussion was prompted by a review here, of the Delaware … Continue reading
In Unusual Jurisdictional Fight, Court of Chancery Transfers Breach of Duty Case to Superior Court
The plaintiffs in Sokol Holdings, Inc. v. Dorsey & Whitney, LLP, No. 3874-VCS (Del. Ch. Aug. 5, 2009), read opinion here, brought suit in the Delaware Court of Chancery against the law firm of Dorsey & Whitney LLP (“Dorsey”) alleging professional negligence … Continue reading
Chancery Court Discusses Procedural Requirements for Parent Corporation to Pursue Claims Against Directors of Wholly-Owned Subsidiary
Case Financial, Inc. v. Alden, No. 1184-VCP (Del. Ch., Aug. 21, 2009), read opinion here. Two prior decisions by the Delaware Chancery Court in this case were previously reviewed on this blog and are available here. Background This Chancery Court opinion contains the … Continue reading
Court of Chancery Provides Guidance on Common Discovery “Hot-Spots”–Privilege Logs and the Scope of Redactions
In Cephalon, Inc. v. Johns Hopkins University, No. 3505-VCP (Del. Ch. Aug. 18, 2009) read opinion here, while ruling on two motions to compel, Vice Chancellor Parsons addressed a couple of the most expensive and time consuming segments of discovery: (i) privilege … Continue reading
Delaware Supreme Court Rules on Admissibility of Expert Evidence
General Motors Corporation v. Grenier, No. 453, 2007 (Del. Supr., August 24, 2009), read opinion here. A prior decision of the Supreme Court in this case was highlighted here. In this opinion, the Delaware Supreme Court addresses issues related to whether or not the trial court properly … Continue reading
Death of the Billable Hour for Law Firms?
Professor Larry Ribstein, a leading scholar on the "law and economics of law firms", discusses here the front page article in today’s Wall Street Journal that predicts a decline in the prevailing practice of lawyers billing by the hour, and the … Continue reading
Court Approves Settlement, Certifies Class, But Reduces Attorneys’ Fee Award
In re National City Corp. Shareholders Litigation, No. 4123-CC (Del. Ch. July 31, 2009), read opinion here. Kevin Brady, a highly respected Delaware litigator, provided this synopsis. In this case, the Court of Chancery approved a settlement agreement, certified a class, and … Continue reading
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