Credit Suisse Securities (USA) LLC v. West Coast Opportunity Fund, LLC, C.A. No. 4380-VCN (Del. Ch. Oct. 11, 2010), read letter ruling here. Two prior Chancery decisions in this matter, summarized on this blog here and here, provide background details.
This short letter ruling addressed a rarely granted motion to vacate a prior decision. The Delaware law on this rare judicial action called "vacatur" is based on federal precedent. Due to the rarity of this issue, a fuller summary is not provided. In sum, the Court explains the very unusual circumstances involved in this case that supported its decision to grant the motion to vacate its prior opinion. Thus, the Court ordered that its “Memorandum Opinion (Transaction ID No. 26368863) and its implementing Order, dated July 30, 2009, are hereby vacated.”