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Delaware Corporate Governance--Views from the Bench

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Chancery Court Grants Motion to Expedite Case Based on Allegations of Colorable Disclosure Claim and
In Laborers Local 235 Benefit Funds v. Starent Networks, Corp., et al., C. A. No. 5002-CC (Del. Ch. Nov. 18, 2009), read letter decision here, the Court granted plaintiff’s motion to expedite this matter  based on the stock based compensation expense disclosure claim.  Kevin Brady, a highly regarded Delaware litigator, provided the synopsis for this decision. The Court noted that “[t]o achieve expedition in this Court, a movant must establish a ’sufficiently colorable claim and show[] a sufficient possibility of a threatened irreparable injury.’&rdq

ABA Seminar on Delaware Corporate Law and Potentially Increasing Federalization
I am blogging from the ABA Business Law Section Fall Meeting in D.C. This post is the product of the notes taken at the following panel presentation: Federalization of Corporation Law in a Time of Crisis - Which Institutions are Best Able to Improve Corporate Governance and Performance Going Forward. Presented by: Business and Corporate Litigation Committee and The Committee on the Federal Regulation of Securities Moderator: Rolin P. Bissell, Partner, Young Conaway Stargatt & Taylor LLP, Wilmington, DE Speakers: Hon. Myron T. Steele, Chief Justice, Supreme Court of Delaware, Dover, DE Ho

Live Video of Chancery Court Trial in Amirsaleh v. NY Board of Trade
Amirsaleh v. NY Board of Trade.  A short video clip of the trial in this case that is ongoing this week in the Delaware Court of Chancery is available here, courtesy of  www.courtroomview.com  Prior decisions of the Court of Chancery in this case highlighted on this blog are available

Court of Chancery Decides Fiduciary Duty Claims Against LLC Manager and Allows Dissolution Claim to
Lola Cars Int'l Limited v. Krohn Racing, LLC, No. 3379-VCN (Del. Ch. Nov. 12, 2009). This 31-page decision of the Delaware Court of Chancery is chock full of substantive Delaware LLC law that is of practical usefulness for business lawyers and litigators. Key Issues Addressed Dissolution requested by one member of an LLC pursuant to  Section 18-802 of the Delaware LLC Act; Breach of fiduciary duty of an LLC manager and whether pre-suit demand was excused (i.e., was a majority of the LLC's governing body disinterested and independent); Breach of the implied duty of good faith and fair deal

Delaware's Competition for Control of Corporate Governance
Professor Steve Bainbridge writes here about the recent increase in the possibility (risk?) of greater federal encroachment into the governance of the internal affairs of corporations, expanding on the scholarship of Professor Mark Roe that we have previously highlighted here.  As most rea