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Chancery Denies Fees to Stockholder who Compelled Admittedly-Overdue Annual Meeting, But Primarily for his Own Interest in Forcing a Buyout

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Martin v. Harbor Diversified, Inc., C.A. 2018-0762 SG (Del. Ch. Feb. 5, 2020).

A plaintiff who achieves a corporate benefit for the enterprise may be eligible for attorney’s fees, but he is not entitled them. Here, after trial on a paper record, the stockholder-plaintiff obtained an order directing the corporation to hold an annual meeting to elect directors (its first in eight years) and to produce certain books and records. The Court agreed that compelling an annual meeting met the minimum requirements to be eligible for a fee award, but the Court concluded that the circumstances made a fee award inequitable. More ›

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