Delaware Business Litigation Report

Court Of Chancery Calculates Mootness Benefit In Post-Trulia Decision

Louisiana Municipal Police Employees’ Retirement System v. Black,  C.A. 9410-VCN (February 19, 2016)

This is an interesting decision for two reasons. First, the decision awards a mootness fee for disclosures and changes to deal protection measures in a merger gone bust. Thus, the opinion is useful precedent in the post-Trulia world, where mootness fee applications are one of the two optimal methods for adjudicating disclosure claims.

Second, the Court held that an agreement not to sue on behalf of a different client as part of a settlement was an unenforceable contract because it was a violation of the attorney ethics rules. Hence, those sort of provisions should not be part of settlements.

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