The Delaware Court of Chancery, in In re WeWork Litigation, C.A. No. 2020-0258-AGB (consol.), opinion (Del. Ch. Dec. 14, 2020), rules that, where a board committee caused a corporation to seek voluntary dismissal of a lawsuit that a previously formed committee had filed and wanted to maintain, the motion for leave to dismiss is reviewed under the Zapata framework.
NEW: Sidley Austin discusses the decision in “New” Special Committee May Not Dismiss Case Brought by “Old” Special Committee.
Tulane Law’s Professor Ann Lipton discusses the decision in The I in We.
Shearman & Sterling discusses the decision in Delaware Court of Chancery Applies Zapata to Assess New Board Committtee’s Motion to Dismiss Claims Being Pursued by a Previously Established Special Committee.
$$$ Delaware Business Court Insider discusses the decision in Delaware Chancellor Finds One WeWork Committee Can’t Dismiss Other Committee’s Case.