New Development in the Berkshire-Hathaway/Sokol Matter
We previously wrote here about a recent complaint filed in the Delaware Court of Chancery in connection with allegations that David Sokol, a member of Warren Buffett’s inner circle at Berkshire Hathaway, profitted personally from what might be considered a corporate opportunity. Today, … Continue reading
Vacancy Announced Today for Delaware Court of Chancery
Chancellor William B. Chandler III of the Delaware Court of Chancery formally notified the Governor today that he is resigning before the completion of his current term. (Pictured to the left is the Chancery Courthouse in Georgetown where the Chancellor … Continue reading
New Court of Chancery Courtrooms in Dover
Courtrooms for the Court of Chancery in Dover will be in a new courthouse as of June 6, 2011, according to an article today in the News Journal, available here. The article explains that the Chancery courtrooms will only be … Continue reading
Delaware Corporate Law and the New Litigation Against Berkshire Hathaway, Warren Buffett, et al.
Kirby v. Sokol, et al., Del. Ch. No. 6392, is the caption of a lawsuit filed earlier this week in the Delaware Court of Chancery which arises out of the recent resignation of the heir apparent to the Oracle of Omaha, Warren … Continue reading
Videocast of Recent Court of Chancery Decisions
On the most recent edition of LexisNexis Corporate and Commercial Insights, available here, Steve Berstler interviews me via videocast where we discuss recent Delaware court cases involving Delaware’s use of the federal motion to dismiss standard, when an anti-assignment clause is triggered in a … Continue reading
Court of Chancery Provides Practical Tips and Procedural Rules for Litigants
Encite LLC v. Soni, et al., C.A. No. 2476-CC (Del. Ch. April 15, 2011), read letter decision here. Holding Court of Chancery rejected a request for the extension of a deadline for submitting expert reports. Brief Overview This 7-page … Continue reading
Non-Party Has Standing As Intervenor to Seek Unsealing of Documents
While not addressing the question of whether a non-party seeking the unsealing of documents has standing pursuant to Court of Chancery Rule 5(g)(6), the Court held that a non-party nonetheless had standing to intervene and seek unsealing under Rule 24. B.F. … Continue reading
Commentary on Recent Delaware Decisions interpreting DGCL Section 220: Rights of Shareholders to Books and Records
The following article appeared in the current issue of the recently debuted publication called the Delaware Business Court Insider. Courts Clarifying Shareholders’ Rights to Information Kevin. F. Brady and Francis G.X. Pileggi Special to the Delaware Business Court Insider | April 13, 2011 Two recent … Continue reading
Chancery Addresses Division of Plaintiff’s Attorneys’ Fees; Offers Guidance on “Problematic” Multi-Forum Litigation
In the recent decision of In Re Allion Healthcare Inc. S’holders Litig., C.A.No. 5022-CC (Del. Ch. Mar. 29, 2011), read opinion here, Chancellor Chandler decided the rarely discussed issue of the division of attorneys’ fees between plaintiffs’ counsel in what has … Continue reading
Court Dismisses Action Brought By Preferred Stockholder Based on Contract Rights Set Out in Certificate of Rights and Preferences
In Fletcher International, Ltd., v. Ion Geophysical Corp., C.A. No. 5109-VCS (Del. Ch. Mar. 29, 2011), read opinion here, the Court of Chancery dismissed two counts in a complaint brought by preferred stockholder Fletcher International based on the express terms that … Continue reading
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