Corporate

Recent Posts

NC Court of Appeals Affirms Business Court Award of $1 Million in Fees to Class Counsel
Posted on 24 Sep 2015 by Mack Sperling

It seems like forever ago that the then venerable North Carolina institution, Wachovia Bank, failed and was acquired by Wells Fargo. (This was actually seven years ago). But just last week came what might be the final closure in the battle by the lawyers... Read More

When You Wish Upon a (Lode)Star: NC Business Court Cuts Fees Requested by Attorneys for Class Plaintiffs
Posted on 13 Jul 2015 by Mack Sperling

The Business Court last week knocked down a fee request of Plaintiffs' class action counsel to $500,000, from the $660,000 requested, in an Order in Nakatsukasa v. Furiex Pharmaceuticals, Inc. , 2015 NCBC 68 [subscribers can access an enhanced version... Read More

One Superior Court Judge Overruling Another?
Posted on 16 Oct 2014 by Mack Sperling

You are all familiar with the old adage that "one Superior Court Judge cannot overrule another Superior Court Judge." But apparently there is at least a little bend in that rule, as illustrated by Judge Bledsoe's opinion this past Thursday... Read More

The NC Business Court Rules on Recovering Attorneys' Fees in a Derivative Action Against an LLC
Posted on 14 Nov 2014 by Mack Sperling

In this week's opinion in Ekren v. K&E Real Estate Investments , 2014 NCBC 56 , Judge Bledsoe outlined how a derivative action plaintiff can recover attorneys' fees [ an enhanced version of this opinion is available to lexis.com subscribers... Read More

Delaware Court of Chancery Awards Fees Based on Corporate Benefit Doctrine
Posted on 5 Aug 2014 by Francis G.X. Pileggi

Sutherland v. Sutherland , C.A. No. 2399 -VCN (Del Ch. July 31, 2014). This Delaware Court of Chancery decision involving a long-running internecine legal battle among family members who own and manage related corporations, is noteworthy because it... Read More

Chancery Rejects Motion for Attorneys’ Fees Based on Complaint Mooted by Actions of Board
Posted on 5 Apr 2012 by Francis G.X. Pileggi

Freedman v. Adams, C.A. No. 4199-VCN (Del. Ch. March 30, 2012). Issue Addressed The Court of Chancery addressed the standard for awarding attorneys' fees when there has been a stipulated dismissal of a derivative action which was largely... Read More

Cal. Supreme Court: Insurer May Seek to Recover Directly From Independent Counsel Allegedly Excessive or Unreasonable Fees
Posted on 17 Aug 2015 by Kevin M. LaCroix

On August 10, 2015, in an opinion that has already garnered a great deal of attention and commentary, the California Supreme Court ruled that an insurer that funded the payment for its insured of independent counsel (or “Cumis” counsel as... Read More

One Plaintiff, Dozens of Merger Objection Lawsuits, Millions in Attorneys’ Fees, Zero for Shareholders
Posted on 19 Feb 2015 by Kevin M. LaCroix

It is now well-established that pretty much every M&A deal attracts at least one lawsuit from a shareholder objecting to the transaction. According to research by Notre Dame business professor Matthew Cain and Ohio State law professor Steven Davidoff... Read More

Corporate Benefit Doctrine Not Applicable to Volunteers
Posted on 11 Jul 2014 by Francis G.X. Pileggi

Raul v. Astoria Financial Corporation , C.A. No. 9169-VCG (Del. Ch. June 20, 2014) [ an enhanced version of this opinion is available to lexis.com subscribers ]. Issue Addressed : Whether attorneys’ fees were appropriate under the corporate benefit... Read More

Contract-Based Award of Attorneys’ Fees
Posted on 20 Oct 2014 by Francis G.X. Pileggi

ReCor Medical, Inc. v. Warnking , C.A. No. 7387-VCN (Del. Ch. May 14, 2014) [ an enhanced version of this opinion is available to lexis.com subscribers ]. This letter opinion provides a helpful analysis of how the Court of Chancery awards attorneys’... Read More

Delaware Court of Chancery to Be Less Likely to Approve Fees in Disclosure Only Cases
Posted on 23 Sep 2015 by Francis G.X. Pileggi

In re Riverbed Technology, Inc., Stockholders Litigation , Cons. C.A. No. 10484-VCG (Del. Ch. Sept. 17, 2015) [subscribers can access an enhanced version of this opinion: lexis.com | Lexis Advance ]. This Delaware Court of Chancery opinion is noteworthy... 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

Proposed Addition to Delaware Corporate Statute Regarding Fee Provisions in Bylaws
Posted on 27 May 2014 by Francis G.X. Pileggi

A proposed new addition as well as related amendments to the Delaware General Corporation Law would limit the impact of a recent Delaware Supreme Court decision in ATP Tours, Inc. v. Deutscher Tennis Bund (No. 534, 2013, May 8, 2014), highlighted on these... Read More

Delaware Court of Chancery Addresses Advancement and Indemnification of Corporate Officer
Posted on 26 Aug 2014 by Francis G.X. Pileggi

In Pontone v. Milso Industries Corp . , C.A. No. 8842-VCP (Del. Ch. Aug. 22, 2014), the Delaware Court of Chancery addressed the rights to advancement and indemnification of attorneys’s fees for a corporate officer pursuant to both DGCL Section... Read More

Proposed Addition to Delaware Corporate Statute Regarding Fee Provisions in Bylaws
Posted on 27 May 2014 by Doug Esten

A proposed new addition as well as related amendments to the Delaware General Corporation Law would limit the impact of a recent Delaware Supreme Court decision in ATP Tours, Inc. v. Deutscher Tennis Bund (No. 534, 2013, May 8, 2014), highlighted on these... Read More