In an unusual but not unprecedented move, the Court of Chancery in Air Products and Chemicals, Inc. v. Airgas, Inc., et al., C.A. No. 5249-CC and In re Airgas Inc. S’holder Litig., C. A. No. 5256-CC, approved a “Delaware Counsel Only” restriction in a protective order. Read letter decision here. Prior decisions of the Court in this case have been highlighted on this blog here.
Kevin Brady of the Connolly Bove firm prepared this summary.
The Court balanced concerns for the practicality of this limitation on the parties’ New York counsel against “the risks of inadvertent disclosure of strategic information.” The Court concluded that this restriction “is necessary to assure protection of confidential business strategy information at both Airgas and Air Products.”