A recent Delaware Court of Chancery opinion provides insights into nuances of DGCL Section 220 as it relates to the rights of stockholders to inspect corporate books and records, and deserves to be in included in the pantheon of Delaware decisions on this topic. It must be read by anyone seeking a complete understanding of
Chancery Court Updates
Chancery Court says inspection cannot be thwarted by claiming records are out of reach at sister firm
By Francis Pileggi on
Posted in Chancery Court Updates
This post was prepared by Frank Reynolds, who has been following Delaware corporate law, and writing about it for various legal publications, for over 30 years.
The Delaware Court of Chancery recently granted a Sahara Enterprises Inc. investor’s books-and-records demand to know how the allegedly underperforming investment company was being run after finding that the…
Delaware Chancellor won’t dismiss HomeFed merger challenge where protections weren’t ab initio
By Francis Pileggi on
Posted in Chancery Court Updates
This post was prepared by Frank Reynolds, who has been following Delaware corporate law, and writing about it for various legal publications, for over 30 years.
The Chancellor of the Delaware Court of Chancery recently presented a challenge to controller Jeffries Financial Group Inc.’s going-private acquisition of HomeFed Corporation because Jeffries negotiated the support of…
Designating Documents as Confidential and Requesting They Remain Confidential Insufficient to Avoid Waiver of Attorney-Client Privilege
By Francis Pileggi on
The following article appeared in the July 8, 2020 issue of the Delaware Business Court Insider.
Designating Documents as Confidential and Requesting They Remain Confidential Insufficient to Avoid Waiver of Attorney-Client Privilege
The Delaware Court of Chancery recently held that a party waived attorney-client privilege by producing documents to a federal commission during the course…
Chancery nixes aiding and abetting liability for execs accused of helping set inflated price for NetSuite
By Francis Pileggi on
Posted in Chancery Court Updates
This post was prepared by Frank Reynolds, who has been following Delaware corporate law, and writing about it for various legal publications, for over 30 years.
The Delaware Court of Chancery recently rejected a creative theory of liability in a shareholder suit that claimed top NetSuite Inc. officers aided a breach of fiduciary duty by…
Chancery Addresses Adequate Security for Dissolution Pursuant to DGCL Section 280(c)(1)
By Francis Pileggi on
Posted in Chancery Court Updates
Due to the relative lack of abundant, comprehensive case law analyzing the criteria the court will use to determine the amount of security deemed sufficient for purposes of satisfying DGCL Section 280 in connection with seeking court approval of a dissolution, and related distributions, the recent Court of Chancery decision in the matter of In…
Chancery Determines Amount of Bond for Injunction
By Francis Pileggi on
Posted in Chancery Court Updates
A recent Delaware Court of Chancery letter ruling determined the amount of a bond for an injunction entered in connection with a suit to enforce a non-competition agreement. The matter of Natera, Inc. v. Goddard, C. A. No. 2020-0371-KSJM (Del. Ch. June 15, 2020), deserves mention due to the relative lack of a robust body…
Court of Chancery Announces New Courtroom Protocols
By Francis Pileggi on
Posted in Chancery Court Updates
In connection with the Delaware Supreme Court’s recent Order providing for the multi-phased, limited reopening of Delaware Courthouses as of June 8, 2020, while at the same time extending Delaware’s “judicial emergency declaration” for another 30 days, the Delaware Court of Chancery has issued an Order to impose new Courtroom protocols for attorneys and visitors…
Chancery Rules on a Controller’s Fiduciary Duty of Loyalty
By Francis Pileggi on
Posted in Chancery Court Updates
This post was prepared by Chauna A. Abner, an associate in the Delaware office of Lewis Brisbois.
Invoking the principles articulated in USA Cafes, the Court of Chancery recently held that a controller cannot use its control over an entity to advantage himself at the expense of the controlled entity. 77 Charters, Inc. v. …
Chancery makes third attempt at stabilizing remnant of failing nursing home chain
By Francis Pileggi on
Posted in Chancery Court Updates
This post was prepared by Frank Reynolds, who has been following Delaware corporate law, and writing about it for various legal publications, for over 30 years.
The Delaware Court of Chancery recently imposed additional sanctions on the controller of a chain of troubled senior care facilities who had repeatedly flouted orders to give a court-appointed…