Minding Your Business

Proskauer’s perspective on developments and trends in commercial litigation.

Tag Archives: Delaware Court of Chancery

“Sue First, Ask Questions Later” Approach to Records Inspection Suits Rejected by Court of Chancery

Characterizing the decision to bring a books and records inspection action after filing a plenary or substantive action as “[i]nherently contradictory,” the Delaware Court of Chancery recently dismissed a Section 220 action brought by a group of investors.  The decision signals that the Court of Chancery remains alert to the use of books and records … Continue Reading

Taming the Bull Rider: Chancery Court Reining in Mootness Fee Awards in Merger Litigation

Last month, the Delaware Chancery Court drastically reduced – from $275,000 to $50,000 – a mootness fee award requested by plaintiffs’ counsel in a lawsuit challenging the merger between PayPal and Xoom Corporation, finding the supplemental disclosures that flowed from the lawsuit provided only minor benefits to stockholders. In re Xoom Corp. Stockholder Litigation. The steep … Continue Reading
LexBlog