Computer Associates

Sanders v. Wang, No. 16640 (Delaware Court of Chancery), was a derivative suit brought on behalf of Computer Associates International, Inc. The suit alleged that the board exceeded its authority under a Key Employee Stock Ownership Plan by awarding 9.5 million excess shares to the participants. The efforts of Chimicles & Tikellis LLP resulted in the return from the defendants of over $50 million in stock issued in violation of the Company’s plan. This represented a recovery of substantially all of the relief sought by Plaintiffs.