Vice Chancellor Strine recently issued an 85-page opinion in a case called In Re Cox Communications Inc., download decision in pdf format. It is a magnum opus on the issue of the standard that should apply when the court reviews applications for attorneys’ fees in representative cases, such as derivative or class action matters. Perhaps in a later post, when time allows, I will provide a more thorough summary.
Professor Ribstein has prepared a thorough analysis of this case here.