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Summaries and analysis of recent Delaware court decisions concerning business-related litigation.
- Chancery Finds Plaintiff Failed To State A Non-Exculpated Claim Against Special Committee Defendants In Complaint Challenging A Merger
- Chancery Finds Stockholder Conferred a Substantial Corporate Benefit by Challenging the Joint Vote of Two Classes of Common Stock under Section 242(b)(2) of the DGCL
- Court of Chancery Awards Plaintiffs Attorneys’ Fees and Costs in Section 225 Action for Obtaining a Substantial Benefit for the Corporation and its Stockholders
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Court Of Chancery Again Affirms Use of Conflict Committee
By Morris James LLP on July 22, 2013
Posted In LP Agreements
Natural Energy Development Inc. v. Shakespeare-One Limited Partnership, C.A. 4836-CS (July 22, 2013)
The Court of Chancery once again has affirmed that the proper use of a conflicts committee may immunize a transaction from attack. This is now a common feature of LLP and LLC agreements but each agreement's terms are critical to its impact and its implementation.
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