Corporate

Recent Posts

Delaware Court of Chancery Addresses Dilution Claims
Posted on 21 Jul 2015 by Doug Esten

Capella Holding, Inc. v. Anderson, C.A. No. 9809-VCN (Del. Ch. July 8, 2015), is a Delaware Court of Chancery decision that addresses recurring corporate litigation issues that make it a useful addition to the litigator’s toolbox (even as a duplicate... Read More

Creditor’s Fiduciary Duty Claims Proceed Based on Traditional Insolvency Test
Posted on 8 May 2015 by Francis G.X. Pileggi

Quadrant Structured Products Company, Ltd. v. Vertin , C.A. No. 6990-VCL (Del. Ch. May 4, 2015) [ an enhanced version of this opinion is available to lexis.com subscribers ]. This Court of Chancery opinion is destined to be cited as a seminal ruling... Read More

Delaware Chancery Court Enters $1.263 Billion Shareholders' Derivative Suit Award
Posted on 17 Oct 2011 by Kevin M. LaCroix

In an interesting October 14, 2011 post-trial opinion, Delaware Chancellor Leo Strine entered a $1.263 billion award in the Southern Peru Copper Corporation Shareholder Derivative Litigation. The lawsuit relates to Southern Peru's April 2005 acquisition... Read More

Delaware Court of Chancery Clarifies Basis for Determining Amount of Bond for Preliminary Injunction
Posted on 22 Jul 2011 by Francis G.X. Pileggi

Service Corporation of Westover Hills v. Guzzetta , C.A. No. 2922-VCP (Del. Ch. July 21, 2011), read opinion here . The Delaware Supreme Court's remand decision in this case last year was highlighted on this blog here. The importance of this... Read More

Delaware Court of Chancery Rejects Two Separate M&A Settlements on Same Day
Posted on 13 Jul 2015 by Francis G.X. Pileggi

Two rejections by the Delaware Court of Chancery last week, on the same day, of two separate proposed settlements of two unrelated class actions challenging a merger, were reported by The Chancery Daily , Professor Bainbridge and Alison Frankel of Thomson... Read More

Delaware Court of Chancery Awards Fees Based on “Gross Value of Settlement”
Posted on 17 Jun 2015 by Francis G.X. Pileggi

In re Jefferies Group, Inc. Shareholders Litigation , Cons. C.A. No. 8059-CB (Del. Ch. June 5, 2015) [ an enhanced version of this opinion is available to lexis.com subscribers ]. This Delaware Court of Chancery letter ruling describes the standards... Read More

Delaware Court of Chancery Interprets Rule 54(b) on Multiple Claims
Posted on 9 Jun 2015 by Francis G.X. Pileggi

Policemen’s Annuity and Benefit Fund of Chicago, Illinois v. DV Realty Advisors LLC , C.A. No. 7204-VCN (Del. Ch. May 28, 2015) [an enhanced version of this opinion is available to lexis.com subscribers] . This letter ruling is useful for purposes... Read More

“Dead Hand Proxy Puts” Garner Increased Stockholder Scrutiny In Delaware
Posted on 11 Jun 2015 by Robin Shea

by John Stigi , John Landry and Robin Achen A ruling last fall by the Delaware Chancery Court has prompted a wave of 8 Del. C. § 220 [ an annotated version of this statute is available to lexis.com subscribers ] books and records inspection demands... Read More

Court of Chancery Appeals to U.S. Supreme Court on Constitutionality of Chancery’s Arbitration Rules
Posted on 23 Jan 2014 by Francis G.X. Pileggi

Two federal courts have held that the confidential arbitration procedures provided in the rules of the Court of Chancery are constitutionally infirm. We have previously written on these pages about the decision of the District Court , Delaware Coalition... Read More

LexisNexis Corporate and Commercial Insights: Francis Pileggi Discusses Status Quo Orders, BAE Systems v. Lockheed Martin, Brophy Claims
Posted on 13 Jul 2011 by Corporate and Securities Law Community Staff

On this episode of the LexisNexis Corporate & Commercial Insights, Steve Berstler speaks to Francis G.X. Pileggi, Member-in-Charge, Eckert Seamans Cherin & Mellott, LLC, Wilmington, DE, about status quo orders, bifurcation in BAE Systems vs. Lockheed... Read More

Delaware Court of Chancery Denies Stockholder Demand for Section 220 Records
Posted on 13 Mar 2015 by Francis G.X. Pileggi

Fuchs Family Trust v. Parker Drilling Company , C.A. No. 9986-VCN (Del. Ch. March 4, 2015) [ an enhanced version of this opinion is available to lexis.com subscribers ]. This opinion of the Delaware Court of Chancery analyzes a stockholder demand pursuant... Read More

Kevin Brady Discusses Recent Delaware Court of Chancery Ruling on Objection to Class Action Representative
Posted on 16 May 2012 by Corporate and Securities Law Community Staff

Kevin Brady of Eckert Seamans discusses In Re Celera Corporation Shareholder Litigation , C.A., No. 6304-VCP (Del. Ch. March 23, 2012), recently decided by the Delaware Court of Chancery . In this case, the putative lead plaintiff in a class action, New... Read More

Chancery Denies Request for Books and Records about Departure of Former HP CEO
Posted on 6 Apr 2011 by Francis G.X. Pileggi

Espinoza v. Hewlett Packard Co. (Espinoza II ), C.A. No. 6000-VCP (Del. Ch. March 25, 2011)(oral ruling). Although this matter started out as a § 220 suit, the prior 70-page decision in this case was limited to the disclosure (or not) of a ... Read More

Delaware Court of Chancery Appoints Custodian to Break Deadlock of Profitable Corporation
Posted on 28 Aug 2015 by Francis G.X. Pileggi

In re: Shawe & Elting LLC , C.A. No. 9661-CB (Del. Ch. Aug. 13, 2015) [subscribers can access an enhanced version of this opinion: lexis.com | Lexis Advance ]. There are many important principles of Delaware corporate law addressed in this 104... Read More

Delaware Court of Chancery Awards $72 Million in Fees for Settlement of Class and Derivative Suit
Posted on 27 May 2015 by Francis G.X. Pileggi

In Re Activision Blizzard, Inc. Stockholder Litigation , Cons. C.A. No. 8885-VCL (Del. Ch. May 20, 2015) [ an enhanced version of this opinion is available to lexis.com subscribers ]. This Delaware Court of Chancery opinion refers to the settlement... Read More