In a case raising an issue of first impression in both Delaware and British Virgin Islands corporate law, the Delaware Court of Chancery has ruled that the British Virgin Islands Business Companies Act of 2004, which requires shareholders to seek leave from the High Court of the British Virgin Islands prior to filing derivative claims against companies incorporated under the act, can be applied retroactively to claims that occurred prior to its passage. Read more >>

Representing clients in class or derivative litigation is often tricky when a settlement is on the table. Your duty is to protect the class members or the entities that are your true clients. But what happens when the class representative or nominal plaintiff does not agree with you? Read more >>

Plaintiffs who opposed a $13.25 million settlement in a class action lawsuit filed by investors against fund managers are planning to accept Delaware Court of Chancery Vice Chancellor J. Travis Laster's offer to post a bond for the full settlement amount and pursue their own litigation, according to their attorney.  Read more >>

The past few years have seen a dramatic spike in M&A litigation, despite an equally dramatic decrease in deal volume after the post-Lehman economic collapse. These days, essentially every corporate merger involving a publicly traded company invites a lawsuit from shareholders claiming that the target corporation's board of directors breached its fiduciary duty by agreeing to sell the company for an unfair price through a tainted process. As it has become increasingly difficult to enjoin the arm's length acquisition of a Delaware corporation based on unfair price claims, the real focus of most M&A litigation has become the claim that the board violated the Delaware common law duty to disclose by issuing a materially misleading proxy statement in connection with the proposed transaction. Read more >>

A plan by Books-A-Million's executive chairman and largest shareholder, Clyde B. Anderson, to pay $48.8 million, or $3.05 per share, to purchase all remaining shares in the company that it does not already own and then privatize the book retailer has generated three separate lawsuits in the Delaware Court of Chancery. Read more >>