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
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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
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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
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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
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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
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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
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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
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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
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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
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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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