Court Of Chancery Calculates Benefit Conferred
This is an interesting decision because it involves calculating how much litigation contributed to an increase in merger consideration when a competing bid drove the merger price up. There is no formula to apply to reach the result. Significantly, the attorneys were aided by the presumption that their efforts did have a positive affect. It may be that the fee awarded was also influenced by calculations of a "fair" hourly rate for the hours worked.