The Delaware Court of Chancery, in Manti Holdings, LLC, et al. v. Authentix Acquisition Co., Inc., C.A. No. 2017-0887-SG, memo. op. (Del. Ch. Aug. 11, 2020), rules that the Delaware General Corporation Law did not prohibit a corporation, as the prevailing party in a statutory appraisal, from enforcing a Stockholders Agreement’s fee-shifting provision against stockholder plaintiffs.
NEW: Morris James discusses the decision in Chancery Enforces Fee-Shifting Provision Against Unsuccessful Petitioner Who Waived Appraisal Remedy.
$$$ Law360 discusses the decision in Investors Must Pay Authentix’s Legal Fees, Chancery Says.
Stinson discusses the decision in Fee-Shifting Provision in Stockholders Agreement Does Not Violate Delaware Law.