New Articles of Interest to Delaware Corporate Lawyers and Litigators

Two law review articles of interest to Delaware corporate lawyers and litigators arrived in the U.S. mail today and are linked below. Both articles are authored by luminaries familiar to all who follow developments in corporate law: The Delaware Journal … Continue reading

Chancery Addresses Non-Disbursement of Class Action Settlement Funds

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

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

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 Dismisses Breach of Implied Duty of Good Faith and Fair Dealing Claims Based on L.P. Agreement that Presumed Good Faith

In Re K-Sea Transportation Partners LP Unitholders Litigation, C.A. No. 6301-VCP (Del. Ch. April 4, 2012). The prior Chancery decision in this case was highlighted on these pages here. Issues Addressed: The issues addressed by the Court of Chancery in … Continue reading

Chancery Appoints Co-Lead Class Counsel along with Current Lead Counsel

In re Delphi Financial Group Shareholder Litigation, Consol. C.A. No. 7144-VCG(Del. Ch. Feb. 7, 2012).  Issue Addressed The Court of Chancery in this decision addressed a motion to vacate the stipulated leadership structure and to appoint a new lead plaintiff … Continue reading

Chancery Stays Derivative Action in Favor of Federal Securities Class Action

Brenner v. Albrecht, C.A. No. 6514-VCP (Del. Ch. Jan. 27, 2012), read opinion here. Issue Addressed The issue addressed in this case was whether a derivative action in Delaware should be stayed or allowed to proceed despite a related, pending federal … Continue reading

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

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

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

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 Certifies Class Action Alleging Self-Interested Conversion from LP to LLC

Garrett v. Zon Capital Partners, L.P., C. A. No. 5607-CS (Del. Ch., Nov. 10, 2011), read letter ruling here. Issue Addressed: Whether a motion for class certification should be granted pursuant to Court of Chancery Rule 23 in connection with … Continue reading

Court of Chancery Clarifies Rights of Minority Shareholders Whose Equity is Diluted

Dubroff v. Wren Holdings, LLC, C.A. No. 3940-VCN (Del. Ch. Oct. 28, 2011), read 45-page opinion here. See prior Chancery decisions in this case highlighted on these pages here and here. Issues Addressed The issues addressed in this gem of an … Continue reading