Court of Chancery Explains Policy Reasons For Selection of Lead Counsel in Class Action; Rejects Motion to Reconsider
Dutiel v. Tween Brands, Inc., No. 4743-CC and No. 484-CC (Oct. 28, 2009), read letter decision here. Read prior Chancery Court decision in this case highlighted on this blog here. In this most recent ruling, the Chancellor denied a motion for reconsideration of the Court’s … Continue reading
Chancery Court Rejects Request for Fees and Costs Despite Granting Second Motion to Compel Discovery Against eBay
eBay Domestic Holdings, Inc. v. Newmark, No. 3705-CC (Del. Ch. Oct. 29, 2009), read opinion here. See prior Chancery Court decisions in this case summarized here and here. This letter decision rules on a Motion to Compel discovery responses and continuations of … Continue reading
Court of Chancery Addresses Application of Entire Fairness and Business Judgment Review of Merger Involving a Controlling Stockholder and a Third-Party Buyer
In re John Q. Hammons Hotels Inc. Shareholder Litigation, No. 758-CC (Del. Ch. Oct. 2, 2009), read opinion here. A prior decision in this case by the Court of Chancery was highlighted here. Kevin Brady, a highly respected Delaware litigator, prepared this synopsis. … Continue reading
Chancery Court Declines Jurisdiction in Dispute between Two New York Entities
Third Avenue Trust v. MBIA Insurance Corp., No. 4486-VCS (Del. Ch. Oct. 28, 2009), read opinion here. This Court of Chancery case involves the rather uncommon result in which the Court declined to exercise jurisdiction over a dispute. Although it may … Continue reading
Chancery Court Discusses Fiduciary Duty of Director to Disclose Information While Negotiating Release with Corporation and Whether Lack of Disclosure Could Invalidate the Release
Xu v. Heckmann Corporation, No. 4673-CC (Del. Ch. October 26, 2009), read opinion here. The Chancellor of the Delaware Court of Chancery in this opinion decides a Motion to Dismiss Counterclaims involving issues related to fraud allegations against a director. The founder of … Continue reading
Court Finds No Irreparable Harm; Declines To Expedite Action Challenging Stock Option Plan
Retirement Board of Allegheny County v. Rothblatt, et al., No. 4946-CC (Del. Ch., Oct. 13, 2009), read opinion here. Kevin Brady, a distinguished Delaware litigator, provides this case synopsis. Plaintiffs asked for expedited treatment in a preliminary injunction action brought to enjoin … Continue reading
Former Employee Dismissed For Lack of Personal Jurisdiction; Court Reinforces Heavy Burden to Succeed on Forum Non Conveniens Grounds
In LeCroy Corp. v. Hallberg, No. 4328-VCP (Del. Ch. Oct. 7, 2009), read opinion here, the Court of Chancery granted Defendants’ motion to dismiss an individual defendant from the action due to a lack of personal jurisdiction but denied defendants’ motion … Continue reading
SCOTUS Justice Clarence Thomas Talks about Oral Argument and Too Many Ivy League Colleagues
One of my favorite U.S. Supreme Court justices, Clarence Thomas, was quoted here in a comparatively rare public question and answer session. He comments about his views on oral argument and why he thinks there are too many members on the … Continue reading
Court of Chancery Reaffirms Significant Deference Given to Independent Board in Change of Control Context Post-Lyondell
In two actions involving challenges to a consummated acquisition, the Court of Chancery in In re Nymex Shareholder Litigation, Nos. 3621-VCN, 3835-VCN and Greene v. New York Mercantile Exchange, Inc., et al., No. 3835-VCN (Del. Ch. Sept. 30, 2009), read opinion … Continue reading
New Scholarship on the “Uncorporation”
Prof. Larry Ribstein, the country’s leading authority on LLCs and other alternative entities, has just announced his newest publication called "The Rise of the Uncorporation", posted here. The abstract for Chapter One follows: The analysis of business associations largely has been … Continue reading
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