Delaware – Resolved Cases
City of Roseville Employees’ Retirement System, et al. v. Ellison, et al.
Jurisdiction: Del. Ch.
City: Wilmington
Case Status: Resolved
Derivative action challenging the acquisition by Oracle Corporation of Pillar Data Systems, Inc., a company majority-owned and controlled by Larry Ellison, the CEO and largest shareholder of Oracle, which led to a settlement valued at $440 million, one of the larger derivative settlements in the history of the Court of Chancery.
In re Genentech, Inc. Shareholder Litig.
Jurisdiction: Del. Ch.
City: Wilmington
Case Status: Resolved
Shareholder class action challenging Roche Holding’s buyout of Genentech, Inc., which resulted in a settlement providing for, among other things, an additional $4 billion in consideration paid to the minority shareholders of Genentech, Inc.
Louisiana Municipal Police Employees Retirement System v. Bergstein, et al.
Jurisdiction: Del. Ch.
City: Wilmington
Case Status: Resolved
Derivative suits against Simon Property Group Inc.’s board for granting an improper retention award to the Company’s CEO and illegal amendments to the Company’s stock incentive plan. The action concluded with the extraordinary result of the stockholders obtaining all of the relief requested.
In re TriCor Indirect Purchasers Antitrust Litig.
Jurisdiction: D. Del.
City: Wilmington
Case Status: Resolved
Obtained a $65.7 million settlement on behalf of consumers and third-party payors who claimed that the manufacturers of a cholesterol drug engaged in anticompetitive conduct designed to keep generic versions off of the market.
In re Freeport-McMoran Copper & Gold Inc.
Jurisdiction: Del. Ch.
City: Dover
Case Status: Resolved
Derivative action arising out of Freeport-McMoran Copper & Gold Inc.’s acquisition agreement. The settlement created a benefit for Freeport and its shareholders valued at nearly $154 million, one of the largest stockholder derivative settlements and also believed to be the first to ensure the benefits of such a settlement flow to stockholders in the form of a cash dividend.
