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Court Of Chancery Clarifies Fee For "Volunteer"

Raul v. Astoria Financial Corporation, C.A. No. 9169-VCG (June 20, 2014) Delaware has long recognized that a stockholder may earn an attorney fee for asserting a valid claim on his corporation's behalf, even if that claim does no go into litigation.  But is there a limit on that law?  This decision explains that a mere "volunteer" who points out how her corporation might benefit from some action does not thereby have her attorney fees paid.  Only a valid "claim" merits a fee award.  A "claim" must assert some actionable wrong doing, not just a way to do business better. Share

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