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 Supreme Court recently revived an investor’s derivative challenge to a merger of energy companies, finding he retained standing because he sufficiently pled a direct claim attacking

HLSP Holdings Corp. v. Fortune Management, Inc., Del. Super., C.A. No. 08C-08-175 WCC (March 31, 2009), read opinion here. This Delaware Superior Court decision granted a summary judgment motion to the defendant purchaser in connection with a claim that a merger agreement was breached because the purchaser did not take all necessary actions to cause