Court Of Chancery Denies Expedited Scheduling
This decision on a motion to expedite the scheduling of a challenge to a merger is interesting for its extensive treatment of the merits of the complaint. In the past, the Court of Chancery has treated motions to expedite more summarily. Perhaps this indicates a greater focus on the burdens of expedition on the Court and others and a desire to limit expedition to those instances where otherwise a plaintiff would have no real remedy.
The opinion discussed in some detail when the possibility that a monetary judgment will be uncollectable is adequate to warrant expedition. A real showing that is the case is required, not just speculation.
The opinion's other major holding is that a limited partnership agreement may effectively limit the amount of disclosures that must be given prior to a vote on a proposed merger.