Delaware Litigation Seeking Books and Records From Wal-Mart Continues

We have previously written on these pages about the long-running saga in the Delaware courts involving stockholders of Wal-Mart seeking books and records from the retail giant regarding an imbroglio with its Mexican subsidiary. Bottom line: They were ordered to … Continue reading

Delaware Court of Chancery Confirms: No Such Thing as “Local Counsel” in This Court

James v. National Financial LLC, C.A. No. 8931-VCL (Del. Ch. Dec. 5, 2014). Why This Decision is Noteworthy: This Delaware Court of Chancery opinion reiterates the important practice guideline that the Court of Chancery does not recognize the concept of … Continue reading

Chancery Refuses to Appoint Temporary Custodian for Deadlocked Company

 In Re TransPerfect Global, Inc., C.A. No. 9700-CB (Del. Ch. Dec. 3, 2014). This Delaware Court of Chancery decision denied a request for an interim custodian for a deadlocked board of two persons, in a company that was also deadlocked … Continue reading

Chancery Repeats Standard for Expedited Proceedings

Two recent letter rulings serve as practical reminders that even though the grant of a motion for expedited proceedings in the Delaware Court of Chancery is common for corporate and commercial litigation, there remains a standard that must be satisfied … Continue reading

Fiduciary Duty of Loyalty Examined in Selective Waiver of Stock Restrictions

Lee v. Pincus, C.A. No. 8458-CB (Del. Ch. Nov. 14, 2014). Why This Chancery Opinion is Noteworthy: The Chancellor provides in this Court of Chancery decision a useful overview of several key statements of Delaware law with widespread applicability in … Continue reading

Chancery Addresses Latest Stage in Allergan Control Contest

In re Allergan Inc. Stockholder Litigation, No. 9609, 2014 WL 5791350 (Del. Ch. Nov. 7, 2014). This opinion of the Delaware Court of Chancery addresses issues related to director’s duties of disclosure as well as ripeness in the context of … Continue reading

Chancery Addresses Scope of Subpoena on Subsidiary for Documents from Corporate Parent

Theravectys SA v. Immune Design Corp., C.A. No. 9950-VCN (Del. Ch. Oct. 31, 2014). This Court of Chancery opinion is useful for those engaged in Delaware corporate litigation to the extent that it clarifies when a subpoena served on a subsidiary can … Continue reading

Chancery Denies Motion to Dismiss and Describes Measure of Damages for Stockholder Denied Shares

Mehta v. Smurfit-Stone Container Corp., C.A. No. 6891-VCL (Del. Ch. Oct. 20, 2014).  This case is noteworthy for its description of the measure of damages that are potentially available for a stockholder who is wrongfully denied shares. Background: This decision … Continue reading

Chancery Addresses Equitable Jurisdiction and First-Filed Rule

Willis v. PCA Pain Center of Virginia, Inc., C.A. No. 9006-VCN (Del. Ch. October 20, 2014). This Chancery decision is noted for its usefulness in the toolbox of those who practice corporate and commercial litigation in Delaware, for two nuanced … Continue reading

Contract-Based Award of Attorneys’ Fees

 ReCor Medical, Inc. v. Warnking, C.A. No. 7387-VCN (Del. Ch. May 14, 2014). This letter opinion provides a helpful analysis of how the Court of Chancery awards attorneys’ fees based on a contract that provides for fees to be awarded … Continue reading