Court Of Chancery Appoints Lead Counsel In Appraisal Case
Appraisal petitioners normally agree to consolidate their actions, on which law firm(s) will represent them, and on how their common objectives will be carried out. That did not happen in this case: the petitioners disputed whose attorneys should take the lead counsel role. Significantly, the Court found it had the authority to choose one of the two competing law firms to lead on behalf of all petitioners despite one petitioner’s objection. The Court also observed, however, that there may be instances in which each petitioner should be allowed to chart its own course without consolidation or coordination.