Court denied corporate benefit fee to plaintiffs who were unsuccessful at trial as the appointment of independent directors to the corporation's special litigation committee was too ancillary a benefit to warrant a fee.

Court imposed sanctions in the form of a factual presumption on a key issue, which defendants could only rebut with clear and convincing evidence, after defendants admittedly took no action to preserve electronically stored information in response to litigation hold notices.

Court granted the application of a plaintiff team to lead a consolidated derivative action where counsel had organized the stronger litigation team and the selected plaintiffs consistent of public agencies/officials with extensive financial experience.

Securities Fraud Suits Consolidated; Lead Plaintiff Retirement System Had Greatest Loss

Misrepresentations Did Not Impact Stock Price; Shareholder Class Decertified

Corporate founder who retained a quarter stake of the company and served as a director and officer did not attempt to use his influence to drive acquisition of another company in which he also held an interest, such that the board's appointment of a special committee to negotiate the acquisition meant that the transaction did not need to be reviewed under entire fairness.

Appeals & Motions List released on:December 8, 2022

Court granted board of directors' motion to dismiss a claim for breach of loyalty after plaintiff shareholders sued following a cybersecurity attack that led to a substantial drop in the company's stock value.

Stockholders in §220 action could not rely on their own hearsay evidence to prove proper purpose where they refused to identify potential witnesses to permit the company the opportunity to conduct depositions.