The Delaware Court of Chancery recently published a comprehensive and scholarly analysis of the limited scope of the subject-matter jurisdiction of Delaware’s court of equity, and refused to accept a case that sought a permanent injunction, in a formal opinion styled: In re Covid-Related Restrictions on Religious Services, Consol. C.A. No. 2021-1036-JTL (Del. Ch.
Shareholder v. Stockholder–which term is preferred in Delaware?
Although this short post does not qualify as breaking news, it will be a useful reminder for some:
The Delaware Court of Chancery prefers “stockholder” as the term uniformly used in the Delaware General Corporation Law for those owning a corporation, though in the past, especially prior to the 2010 DGCL amendments, there were inconsistent
Chancellor says car company controller’s quick appeal bid must fire on all 8 factors to win in high court
This post was prepared by Frank Reynolds, who has been following Delaware law and writing about it in various publications for over 30 years.
The Chancery Court’s chief judge recently ruled Carvana Corp. controller Ernest Garcia ll stated only one of eight needed factors for a quick appeal of her June decision that he and
Chancery Examines Equitable Defenses and Restrictions on Transfer of LLC Interests
The Delaware Court of Chancery’s recent opinion in XRI Investment Holdings LLC v. Holifield, No. 2021-0619-JTL (Del. Ch. Sept. 19, 2022), should be included in the pantheon of consequential Delaware Chancery opinions and will remain noteworthy for many reasons that deserve to be the subject of a law review article, but for purposes of
Del. High Court nixes Goldman Sachs director pay suit settlement that bars future pact-based claims
This post was prepared by Frank Reynolds, who has been following Delaware law and writing about it in various publications for over 30 years.
The Delaware Supreme Court recently overturned the approval of a settlement of a Goldman Sachs Group Inc. shareholder’s legal challenge to an allegedly extravagant pay plan for the investment company’s non-employee
Chancery Court explains dismissal, short life of SolarWinds suit and other recent Caremark actions
This post was prepared by Frank Reynolds, who has been following Delaware law and writing about it in various publications for over 30 years.
The Delaware Chancery Court recently threw out a shareholder’s oversight claim against SolarWinds Corporation’s directors because it failed to show they were unfit to review plaintiffs’ negligent supervision suit over a
The Standard for Individual Contempt for Corporate Actions
The Delaware Supreme Court recently addressed the standard to determine when an individual may be held in contempt for the violation of a court order by a company that person controls. I provided an overview of the decision for my latest article for the current issue of The Bencher, the flagship publication of the
Example of the Wrong Way to Oppose a Subpoena
Although I have been quoted extensively in many major publications about various aspects of the ongoing Twitter v. Musk litigation pending in the Delaware Court of Chancery regarding Twitter’s efforts to force Musk to consummate the offer by Musk to buy Twitter, I have not written much about the multitude of pre-trial rulings regarding the
Amendment to Delaware Law Offers Exculpation For Corporate Officers
The Delaware General Corporation Law was recently updated to afford corporate officers the opportunity to enjoy the benefits of exculpation from some forms of liability that corporate directors have enjoyed protection from for many years.
Much has already been written about this topic, but a recent post on the Harvard Law School Corporate Governance Blog
Big Law Ethics
Vice Chancellor J. Travis Laster of the Delaware Court of Chancery gave a lecture at the University of Iowa College of Law on “Big Law Ethics”, or lack thereof, based on findings that His Honor described in the “A” trilogy of cases in which he scored the ethical lapses of several senior partners in a