A recent Delaware Court of Chancery decision addressed the obligation of a company to maintain an accurate stock ledger. In Mitchell Partners, L.P. v. AMFI Corporation, C.A. No. 2020-0985-KSJM (Del. Ch. Oct. 1, 2026), the court explained in a post-trial opinion why, based on the facts of this case, there was no remedy available
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Chancery Counts Later-Obtained Written Consents In Lieu of a Meeting in Section 225 Fight over Director Elections
By Francis Pileggi on
Posted in Court of Chancery Updates
This synopsis was prepared by Chauna Abner, a corporate and commercial litigation partner at Lewis Brisbois.
In Freiberg v. Xonar Technology Inc., C.A. No. 2026-0093-KSJM (Del. Ch. Sep. 15, 2026), Chancellor McCormick rejected a director’s Section 225 challenge to his removal based on written consents in lieu of a shareholder meeting after a paper trial.…
Chancery Explains Award of Attorneys’ Fees
By Francis Pileggi on
Posted in Court of Chancery Updates
The Delaware Court of Chancery explained the reasoning for a specific award of attorneys’ fees based on a post-trial decision earlier this year, highlighted on these pages, that discussed the basis for awarding fees in a case involving breach of fiduciary duty, breach of a restrictive covenant, and related breaches. Arxada Holdings NA Inc. v. …
New Treatise Entitled: “The Business Judgment Rule and Stockholder Derivative Litigation” by Stephen A. Radin.
By Francis Pileggi on
Posted in Commentary, Uncategorized
I was delighted this week to receive a courtesy copy of the newest contribution, in hardback, to corporate law scholarship by Stephen Radin as an update to his iconic four-volume treatise on the Business Judgment Rule. It features a Foreword by former Delaware Chief Justice E. Norman Veasey.
What a challenge to do a short…
Chancery Awards Fees for Pre-Litigation Errant Conduct
By Francis Pileggi on
Posted in Court of Chancery Updates
Two recent Delaware Court of Chancery decisions awarded fees for errant pre-litigation conduct which makes then noteworthy for that point alone, although there is much else to commend them. In the matter styled Ramadurgam v. Destiny XYZ Inc., C.A. No. 2024-0057-PAF (Del. Ch. July 23, 2026), the court awarded fees for pre-litigation conduct…
Court of Chancery Reaffirms That Minority Members of Manager-Managed LLCs Do Not Ordinarily Owe Fiduciary Duties
By Francis Pileggi on
Posted in Court of Chancery Updates, Uncategorized
These highlights were prepared by Maliheh Zare, a corporate and commercial litigation associate in the Delaware office of Lewis Brisbois.
The Delaware Court of Chancery recently reaffirmed that minority members of a manager‑managed Delaware LLC generally do not owe fiduciary duties to the company or its other members in Ruby Hollow, LLC v. Tharp …
Chancery’s Deep Doctrinal Dive into the Definition of Voidable v. Void Corporate Acts
By Francis Pileggi on
Posted in Court of Chancery Updates
A recent Delaware Court of Chancery opinion is required reading for those interested in the important distinction between corporate acts that are void as compared to voidable. In a 100-plus page decision in connection with approving a class action settlement and attorneys’ fees, the Court of Chancery engages in a deep doctrinal dive and scholarly…
Chancery Provides First Interpretation of Recently Amended DGCL Section 144
By Francis Pileggi on
Posted in Court of Chancery Updates
Rae Ra, a corporate and commercial litigation associate in the Delaware office of Lewis Brisbois, prepared this synopsis.
The Court of Chancery analyzed the newly amended 8 Del. C. § 144(d)(2) for the first time recently, in Patrick Ayers v. Foley, et al., C.A. No. 2025-0650-LWW (Del. Ch. June 15, 2026) (the “Opinion”)…
Delaware Supreme Court Justice Karen Valihura Presents Distinguished Lecture on Charting Delaware’s Course in a New Era
By Francis Pileggi on
Posted in Commentary, Delaware Supreme Court Updates
Delaware Supreme Court Justice Karen L. Valihura recently presented the 2026 Weinburg Distinguished Lecture entitled “Legacies, Lessons and Launch Pads: Charting Delaware’s Course in a New Era, now available in an article format.
My own paraphrasing of a few takeaways: (i) the scholarly presentation included references to icons among prior court decisions in…
Semi-Annual Review of Key Delaware Corporate and Commercial Decisions
By Francis Pileggi on
Posted in Annual Review of Key Delaware Cases
In addition to the Annual Review of Key Delaware Corporate and Commercial Decisions that I have compiled on these pages for the last 21 years, I periodically select cases for a semi-annual review. We recently presented these selected cases in a webinar with a PowerPoint.
The selection of these cases is necessarily subjective, and I…