A recent Delaware Court of Chancery decision recited the standards applied in Delaware to determine when to stay a case or allow it to proceed when similar litigation between the same parties is proceeding in another state. In AG Resources Holdings, LLC v. Terral, C.A. No. 2020-0850-JRS (Del. Ch. Feb. 10, 2021), the court
motion to stay
Chancery Stays Derivative Action in Favor of Federal Securities Class Action
By Francis Pileggi on
Posted in Chancery Court Updates
Brenner v. Albrecht, C.A. No. 6514-VCP (Del. Ch. Jan. 27, 2012), read opinion here.
Issue Addressed
The issue addressed in this case was whether a derivative action in Delaware should be stayed or allowed to proceed despite a related, pending federal securities class action.
Background
The plaintiff claimed in this derivative action that…
Chancery Stays Discovery Pending Motion for Judgment on the Pleadings
By Francis Pileggi on
Posted in Chancery Court Updates
TravelCenters of America LLC v. Brog, (Del. Ch., Nov. 21, 2008), read opinion here. The Chancery Court issued two prior opinions in this case, one of which was especially noteworthy, and both were summarized here.
In this letter ruling, the court discussed the discretionary factors applied by the court in deciding whether to stay discovery pending…
Chancery Rules on Claims Related to Merrill Lynch Merger with Bank of America
By Francis Pileggi on
Posted in Chancery Court Updates
County of York Employees Retirement Plan v. Merrill Lynch & Co., Inc., et al., (Del. Ch., Oct. 28, 2008), read opinion here. This 39-page Chancery Court decision addressed in a cursory but scholarly manner, several preliminary issues related to the recently announced merger of Merrill Lynch and Bank of America.
The opinion is a treasure trove…
Chancery Stays Dissolution Action Pending Superior Court Damages Case
By Francis Pileggi on
Posted in Chancery Court Updates
In the case of In Re TGM Enterprises, LLC , 2008 WL 4261035 (Del.Ch., Sept. 12, 2008), the Chancery Court stayed a case before it seeking dissolution of an LLC in favor of a later-filed suit in Delaware Superior Court that sought money damages and other purely legal remedies involving the same members of the LLC before it…