After Gibson, Dunn & Crutcher knocked out a derivative suit over Allergan Inc.’s marketing of Botox six months ago, the company and its board of directors hoped the litigation had been put to rest. But Vice Chancellor J. Travis Laster of the Delaware Court of Chancery, in an opinion Monday that offers a critique of the current landscape of shareholder derivative litigation, refused to dismiss the case even though a federal judge in Los Angeles had thrown out parallel claims brought by separate plaintiffs in January.
Laster ruled that he wasn’t bound by the earlier decision, based in part on his conclusion that the plaintiffs lawyers in the California litigation had failed to provide adequate counsel in their rush to be first to file when Allergan’s Botox troubles surfaced about two years ago.
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