Chancery Awards Fees in Disclosure Only Settlement

Posted on March 23rd, 2013 by Francis Pileggi

In re: Paetec Holding Corp. Shareholders Litigation, C.A. No. 6761-VCG (Del. Ch. Mar. 19, 2013). This Chancery opinion explains why attorneys’ fees were awarded in the amount of $500,000 based on a settlement of a challenge to a merger that resulted … Continue reading →

Chancery Addresses Non-Disbursement of Class Action Settlement Funds

Posted on November 21st, 2012 by Francis Pileggi

In Norberg v. Security Storage Co. of Washington, C.A. No. 12885-VCN (Del. Ch. Nov. 19, 2012), the Court of Chancery addressed the issue of how to deal with funds from a class action settlement–approved many years ago, that have not … Continue reading →

Fee Award Discounted Due to Boilerplate Claims

Posted on October 18th, 2012 by Francis Pileggi

Dias v. Purches, C.A. No. 7199-VCG (Del. Ch. Oct. 1, 2012). Issue Addressed: This case discussed the award of counsel fees in connection with a class action settlement. The court discounted the amount that would otherwise be awarded due to … Continue reading →

Dismissal of One Derivative Lawsuit Not Bar to Second Derivative Claim by Second Stockholder

Posted on June 27th, 2012 by Francis Pileggi

Louisiana Municipal Police Employees’ Retirement Systems v. Pyott, C.A. 5795-VCL (Del. Ch. June 11, 2012). Issues Addressed Whether collateral estoppel, Rule 23.1 or Rule 12(b)(6) apply to require the dismissal of a Delaware derivative suit based on the dismissal in … Continue reading →

Chancery Preliminarily Approves Derivative Settlement but Gives Objectors Conditional Option to Proceed with Case

Posted on May 16th, 2012 by Francis Pileggi

Forsythe v. ESC Fund Management Co. (U.S.), Inc., C.A. No. 1091-VCL (Del. Ch. May 9, 2012). Issue Addressed Whether the settlement of a derivative action that the Court considered fair should be approved despite the objections of the named plaintiffs.  Short … Continue reading →

Noteworthy 2011 Corporate and Commercial Decisions from Delaware’s Supreme Court and Court of Chancery

Posted on January 2nd, 2012 by Francis Pileggi

Noteworthy 2011 Corporate and Commercial Decisions from Delaware’s Supreme Court and Court of Chancery. By:  Francis G.X. Pileggi and Kevin F. Brady. Introduction This is the seventh year that we are providing an annual review of key Delaware corporate and … Continue reading →

Chancery Determines Framework to Award Attorneys’ Fees Involving Changed Deal Protections

Posted on December 17th, 2011 by Francis Pileggi

In re Compellent Technologies, Inc. S’holder Litig., Del. Ch., Consol. C.A. No. 6084-VCL (Dec. 9, 2011). This summary was prepared by Jill Agro of Eckert Seamans. Issue Addressed: Despite the length of this fifty-four page opinion, the only issue involved … Continue reading →

Federal Court De-certifies Class Action Due to Misconduct of Class Counsel

Posted on November 28th, 2011 by Francis Pileggi

Creative Montessori Learning Center v. Ashford Gear LLC, No. 11-8020, (7th Cir. Nov. 22, 2011) (Posner, J.) read opinion here.  This decision of the U.S. Court of Appeals for the 7th Circuit finds its place on this blog primarily because … Continue reading →

Chancery Court Approves Class Action Settlement Regarding Chicago Board Options Exchange

Posted on June 4th, 2009 by Francis Pileggi

CME Group Inc. v. Chicago Board Options Exchange, Inc., No. 2369-VCN (Del. Ch., June 3, 2009), read opinion here. Prior Chancery Court opinions in this case were summarized on this blog here.  This action began in order to establish the economic … Continue reading →

Supreme Court Affirms Allocation of Settlement Proceeds in Class Action Against Philadelphia Stock Exchange

Posted on February 5th, 2009 by Francis Pileggi

 Schultz v. Ginsburg and Philadelphia Stock Exchange, (Del. Supr., Feb. 3, 2009), read opinion here. The Delaware Supreme Court affirmed the Chancery Court’s decision in connection with the allocation of  proceeds from a settlement that ended a class action against the Philadelphia Stock … Continue reading →

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