The Delaware Court of Chancery, in Paul Morris v. Spectra Energy Partners (DE) GP, LP, C.A. No. 2019-0097-SG, memo. op. (Del. Ch. Sept. 30, 2019), dismissed class claims alleging that a general partner failed to obtain value in a merger for derivative claims that survived dismissal in a prior lawsuit but were extinguished by the merger, finding the value of the claim immaterial in the context of the merger.
NEW: K&L Gates discusses the decision in Former Derivative Plaintiff Lacks Standing to Pursue Direct Claims Against General Partner.
Morris James discusses the decision in Chancery Denies Former Derivative Plaintiff Standing to Challenge Merger That Extinguished Derivative Claims.