Derivative claims dismissed by Delaware Court of Chancery

The Delaware Court of Chancery dismissed with prejudice all claims against our clients, directors and majority of shareholder of a holding company, based on the plaintiffs’ misconduct and lack of derivative standing.  The plaintiffs were minority shareholders who had alleged direct and derivative claims of breach of fiduciary duty and misappropriation of corporate opportunity.  The firm acted as co-counsel with Wilmer Cutler Pickering Hale and Dorr LLP.