The Delaware Court of Chancery, in Great Hill Equity Partners IV, LP, et al. v. SIG Growth Equity Fund I, LLLP, et al., C.A. No. 7906-VCG, memo. op. (Del. Ch. Dec. 31, 2020), declined to award attorneys’ fees in litigation between parties to a merger agreement under a “prevailing party” fee shifting clause, where neither party prevailed, or an indemnification clause that did not clearly call for fee shifting for first party claims.
Francis Pileggi discusses the decision in Chancery Addresses Contractual Fee-Shifting Where Prevailing Party Is Unclear.