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Fox Rothschild LLP | USA | 11 Jul 2017

Chancery amends rules governing motion practice

Effective August 1, 2017, an amendment to Court of Chancery Rule 171(f) will go effective, setting forth word limitations for non-dispositive motions


Fox Rothschild LLP | USA | 11 Jun 2017

Sections 204 and 205 of the DGCL cannot remedy unauthorized corporate acts

In a matter of first impression, the Court of Chancery considered whether an “unauthorized” act-one that the majority of stockholders entitled to


Fox Rothschild LLP | USA | 3 May 2017

Derivative demand requirements equally apply to actions asserted by 5050 member of an LLC

In Delaware, to assert a derivative action against company management, either a presuit demand must be made, or plaintiff must allege that demand


Fox Rothschild LLP | USA | 30 Apr 2017

Chancery finds credible basis for wrongdoing warranting inspection of books and records

A petitioner making a Section 220 books and records demand must state a “proper purpose” to justify inspection


Fox Rothschild LLP | USA | 19 Apr 2017

Chancery rules that claims against general partner are direct, allows action to proceed despite partnership’s bankruptcy

Whether a claim against company management is direct or derivative is not infrequently disputed in litigation before the Delaware Court of Chancery


Fox Rothschild LLP | USA | 30 Mar 2017

Shareholder demands company’s files related to FCPA settlement

In a complaint recently filed in Delaware Chancery Court, a shareholder of General Cable Corp. (“General Cable”) has asked the Court to compel the


Fox Rothschild LLP | USA | 27 Mar 2017

Summary judgment granted in favor of Delaware Officer due to release

When applicable, former D&Os of Delaware corporations will rely upon a release from the company to shield liability against class action or


Fox Rothschild LLP | USA | 15 Mar 2017

Chancery opinion provides a roadmap to discovery rules and obligations

In the recent decision of In re Oxbow Carbon LLC Unitholder Litig., Consol. C.A. No 12447-VCL (Del. Ch. March 13, 2017), Vice Chancellor Laster


Fox Rothschild LLP | USA | 3 Mar 2017

Books and records demand denied for lack of standing

Under Section 220 of the Delaware General Corporation Law (“DGCL”), only stockholders or directors have standing to make a demand to inspect a


Fox Rothschild LLP | USA | 1 Mar 2017

Books and records demand played role in selection of lead counsel

In selecting lead counsel for a stockholder derivative litigation, the Court of Chancery applies the factors set forth under Hirt v. U.S. Timberland

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