John Reed

John Reed

DLA Piper

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Delaware Supreme Court upholds fee-shifting provision in company bylaw, signifying a future sea change in corporate litigation

The Delaware Supreme Court, sitting en banc, has held that a Delaware corporate bylaw that requires a losing claimant to pay the legal fees and expenses of the defendants is not invalid per se, and if otherwise enforceable...more

5/23/2014 - Attorney's Fees Bylaws Fee-Shifting Statutes Shareholder Litigation Shareholders

Delaware Court of Chancery - no fiduciary breach, although directors engaged in unfair process: four key takeaways

While management and the preferred stockholders of Trados, Inc. received all of the merger consideration in an end-stage transaction and the common stockholders received nothing, the Delaware Court of Chancery has found that...more

8/27/2013 - Board of Directors Breach of Duty Common Stock Fiduciary Duty Mergers Shareholders Unfair Labor Practices

Delaware Amends Its LLC Act: Managers And Controllers Owe Fiduciary Duties Unless LLC Agreement Provides Otherwise

Effective August 1, 2013, the Delaware General Assembly has amended Section 18-1104 of the Delaware Limited Liability Company Act to provide that, unless the limited liability company agreement says otherwise, the managers...more

8/23/2013 - Delaware Limited Liability Company Act Fiduciary Duty Fund Managers

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