In Re China Agritech, Inc. Shareholder Derivative Litigation, C.A. No. 7163-VCL (Del. Ch. May 21, 2013).

Issue Addressed:  Whether a complaint that fails to plead that demand was made on the Board and fails to plead demand futility should be dismissed under Rules 23.1 or 12(b)(6).

Short Answer:  No.  Motions to dismiss

Senior Housing Capital, LLC v. SHP Senior Housing Fund LLC, C.A. No. 4586-CS (Del. Ch. May 13, 2013)

Issue Addressed: Whether judicial review is permitted on an appraisal that followed a process required by an LLC agreement which contained no mechanism for substantive judicial review of the appraisal?

Short Answer:  No, the Court

 New Jersey Carpenters Pension Fund v. infoGROUP, Inc., C.A. No. 5334-VCN (Del. Ch. Feb. 13, 2013). 

Issue: Whether the Court should certify a proposed class under Rules 23(a), 23(b)(1), and 23(b)(2), and whether the class representatives have satisfied the adequacy and typicality requirements of Rule 23(a)? 

Short Answer:  Yes to both.

Background

New Jersey

In Metropolitan Life Ins. Co v. Tremont Group Holdings, et al. C.A. No. 7092-VCP (Del. Ch. Dec. 20, 2012). 

Plaintiff insurance carriers, who were limited partners in a Delaware limited partnership that invested in another fund which invested substantially all of its investment capital in Bernie Madoff’s investment firm, brought an action alleging a number

On December 27, 2012, the Delaware Supreme Court overruled in part and remanded a decision of the Court of Chancery which denied a large investor, BVF Partners L.P. (“BVF”), the right to opt-out of a shareholder class action settlement.  In the case of In Re Celera Corp. Shareholder Litigation, No. 212, 2012 (Dec. 27,

On December 4, 2012, the Court of Chancery announced (here) that it is updating Rules 26, 30, 34 and 45 regarding discovery effective January 1, 2013, “to account for modern discovery demands” regarding electronically stored information (“ESI”) and to “bring the Court’s rules in line with current practice.”  The Court also announced that it is

In a transcript ruling in Dent v. Ramtron Int’l Corp., C.A. No. 7950-VCP (Del. Ch., November 19, 2012), the Court denied the plaintiff’s motion for a preliminary injunction to enjoin a shareholder vote on a merger between Ramtron and Cypress Semiconductor Corp.

Issue Addressed:  Whether the Court should preliminarily enjoin a shareholder vote on a