In the recent decision of Melbourne Municipal Firefighters’ Pension Trust Fund v. Jacobs, C.A. No. 10872-VCMR (Del. Ch. Aug. 1, 2016), Vice Chancellor Montgomery-Reeves dismissed Caremark claims brought against
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Derivative Actions
New Board of Directors Allowed to Review Derivative Complaint
The recent decision of Park Employees and Retirement Board Employees’ Annuity and Benefit Fund of Chicago v. Smith, C.A. No. 11000-VCG (May 31, 2016) presents an interesting question: when…
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Section 220 Books and Records Demand Dismissed Due to Issue Preclusion
Often times, a Section 220 books and records action precedes derivative litigation. However, it is not uncommon for one faction of stockholder plaintiffs to dive right into derivative litigation in…
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Derivative Complaint Dismissed for Failure to Plead Bad Faith
In the recent decision of Brinckerhoff v. Enbridge Energy Co. Inc., C.A. No. 11314-VCS (Del. Ch. Apr. 29, 2016), the Court of Chancery dismissed a derivative complaint on the…
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Derivative Complaint Dismissed for Lack of Supporting Factual Allegation – Books and Records Request Should be Used to Develop Facts
In the recent decision of The Joseph Penar Family Trust v. Adams, C.A. 10441-VCG (Del. Ch. Apr. 28, 2016), Vice Chancellor Glasscock dismissed a derivative complaint for lack…
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TripAdvisor, Inc. Derivative Action Dismissed
In the recent decision of Friedman v. Maffei, C.A. No. 11105-VCMR (Del. Ch. Apr. 13, 2016), Vice Chancellor Montgomery-Reeves granted dismissal of a derivative complaint filed on behalf of…
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Fee-Shifting Ban May Put Delaware’s Corporation-Friendly Status in Question
Delaware, a state often considered an incorporation “mecca” with its favorable tax laws, preeminent business court and unified body of corporate law, has recently enacted a controversial statute that may…
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Mootness Benefit Calculated Post-Trulia
In the recent decision of Louisiana Municipal Employees’ Retirement System v. Black, C.A. No. 9410-VCN (Del. Ch. Feb. 19, 2016), the Delaware Court of Chancery awarded a mootness…
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Post-Trulia Disclosure Settlement Approved – Management Projections Material
In the recent decision of In Re Trulia Inc. Stockholder Litigation, C.A. No. 10020-CB (Del. Ch. Jan. 22, 2016), which we discussed here, the Court made clear that…
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Chancery Signals End of Disclosure Only Settlements
The Delaware Court of Chancery has recently issued an opinion denying a “disclosure only” settlement, in the case of In Re Trulia Inc. Stockholder Litigation, C.A. No. 10020-CB (Del.
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