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16 Aug 2021, 6:00 am
In re Oracle Corp. [read post]
1 Jul 2021, 2:26 pm
Judge McFadden noted with respect to these allegations that while a director’s fiduciary duty can encompass earning a profit, the directors’ duties do not “bind[] directors to any single course of profit-maximizing,” as Delaware law “grants directors substantial leeway to make business decisions and act in a corporation’s best interest. [read post]
23 Jun 2021, 3:00 am
The Delaware Chancery Court is renowned for its ability to handle complex corporate cases in an expeditious manner, but every now and again, a lawsuit comes along that manages to throw sand in the Court’s gears. [read post]
25 May 2021, 11:49 am
The forum selection clause in Oracle’s by-laws provides that the Delaware Court of Chancery shall be the “sole and exclusive forum for any actual or purported derivative action brought on behalf of” Oracle. [read post]
16 Feb 2021, 2:23 pm
The trial court held that federal forum provisions were invalid under Delaware law, reasoning that the “constitutive documents of a Delaware corporation cannot bind a plaintiff to a particular forum when the claim does not involve rights or relationships that were established by or under Delaware’s corporate law. [read post]
4 Jan 2021, 1:26 pm
The directors’ and officers’ liability environment is always changing, but 2020 was a particularly eventful year, with important consequences for the D&O insurance marketplace. [read post]
7 Sep 2020, 2:06 pm
The first five of these lawsuits – against the boards of Oracle (about which refer here), Facebook (here), Qualcomm (here), NortonLifeLock (here), and The Gap (here)– all were filed by the same law firm and all involved California-based companies. [read post]
25 Aug 2020, 6:00 am
July 9, 2020)After investigating certain potential derivative claims arising out of Oracle Corporation’s acquisition of NetSuite, Inc., and after trying unsuccessfully to settle those claims, Oracle’s Special Litigation Committee (“SLC”) agreed that permitting a derivative plaintiff to pursue those claims was in Oracle’s best interests. [read post]
5 Jul 2020, 7:55 pm
This post was prepared by Frank Reynolds, who has been following Delaware corporate law, and writing about it for various legal publications, for over 30 years. [read post]
7 Jan 2020, 6:00 am
In this decision, the Delaware Court of Chancery considered the implications of a decision by a special litigation committee of Oracle Corporation to cede control of derivative claims to a stockholder-plaintiff – including whether that decision required the production of Oracle’s privileged documents that were provided to the committee and its counsel. [read post]
29 Dec 2019, 7:46 am
On December 4, 2019, Vice Chancellor Sam Glassock III issued a memorandum opinion in In re Oracle Corporation Derivative Litigation finding that the Lead Plaintiff in a shareholder derivative suit against Oracle’s board of directors had the right to subpoena documents relied upon by the corporation’s Special Litigation Committee (SLC) in making its determination as to whether litigation against Oracle should be allowed to proceed, including… [read post]
17 Dec 2019, 8:21 pm
In the matter styled: In re Oracle Corporation Derivative Litigation, C.A. [read post]
27 Oct 2019, 10:09 am
Thereafter, VLSI brought a couple of Delaware cases, at least one of which also involved a multi-billion-dollar damages claim. [read post]
26 Aug 2019, 9:39 am
The post Special Litigation Committee Allows Derivative Litigation appeared first on Delaware Corporate & Commercial Litigation Blog. [read post]
20 Aug 2019, 6:16 pm
It is not uncommon for corporate boards facing shareholder derivative litigation to appoint a special litigation committee to investigate the allegations that the plaintiff shareholder raised in the suit. [read post]
27 Jun 2019, 10:09 pm
The post Delaware Supreme Court Addresses Independence of Directors appeared first on Delaware Corporate & Commercial Litigation Blog. [read post]
20 May 2019, 3:16 am
“I’ve been on 20 public company boards; I’ve seen a lot of corporate boards operate. [read post]
21 Aug 2018, 2:36 pm
Delaware Law Governing Board Demands The business and affairs of a Delaware corporation are managed by its board of directors. [read post]
8 Aug 2018, 6:22 am
The pathologies of influential corporate insiders with a significant equity stake were on full display during Oracle’s 2016 acquisition of industry rival NetSuite. [read post]
31 Mar 2018, 3:00 am
In In re Oracle Corporation Derivative Litigation,... [read post]
