Supreme Court of Delaware

In an appeal involving whether an out-of-state litigant should be awarded fees in connection with the settlement of a Delaware corporate class action under the corporate benefit doctrine, judgment denying appellant a presumption of causation for both a first and second price stock price increase is reversed in part where: 1) the record supports a finding that appellant did not contribute to the original settlement benefits; but 2) because appellant was the only litigant opposing to a transaction at the time of the second share price increase, it was entitled to a presumption of causation for the corporate benefit conferred by its action.

Appellate Information

• Decided 12/21/2007
• Published 12/21/2007

Judges

Court

• Supreme Court of Delaware

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