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Court Of Chancery Calculates Benefit Conferred

In re Quest Software Inc. Shareholders Litigation, C.A. 7357-VCG (November 12, 2013)

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.



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