AB Value Partners, LP v. Kreisler Manufacturing Corp., C.A. No. 10434-VCP (Del. Ch. Dec. 16, 2014). This Chancery opinion can be highlighted with a few bullet points:

  • A motion for a TRO will be reviewed under the standard for a motion for preliminary injunction if a more developed record is presented to the court, but in any event, a mandatory injunction requires a much greater showing than a typical status quo injunction. Neither standard was satisfied in this case.
  • Advance notice bylaws are commonplace and will only be enjoined due to inequitable circumstances, not evident in this case. A review of Delaware cases where such bylaws were upheld, and those in which such bylaws were stricken, provide a useful guide for future reference.