Court Of Chancery Issues Novel Injunction
It is common in a Section 225 action seeking the determination of the composition of a company's board of directors for the court to issue a status quo order. Those orders stop the company from taking any actions out-of-the-ordinary course of business until the Court decides who is really in control. Here the Court issued a similar order pending a decision on whether the plaintiff was entitled to have stock issued to it to take control. This extends the use of status quo orders to a new realm.