Court of Chancery of Delaware
Franklin Balance Sheet Inv. Fund v. Crowley, 888-N
In a dispute involving derivative and direct claims for, among other things, breach of fiduciary duty, entrenchment, and self-dealing arising out of certain agreements relating to life insurance policies for a company's director, plaintiffs' motion for leave to amend their complaint and an individual's motion to intervene as an additional shareholder plaintiff are granted where: 1) although plaintiffs violated the spirit, if not the letter, of Court of Chancery Rule 15(aaa), it is preferred to resolve matters on the merits and there was no material prejudice to defendants; and 2) the proposed intervention was not time-barred and would not be futile. Plaintiffs are nevertheless ordered to pay certain attorney's fees and costs to defendants in connection with their motion to dismiss.
Appellate Information
- Decided 10/19/2006
- Published 11/03/2006
Judges
Court
- Court of Chancery of Delaware