Delaware High Court Affirms Attorney Fees in $1B Dell Securities Settlement

Mealey's ( August 19, 2024, 11:06 AM EDT) -- WILMINGTON, Del. — A unanimous Delaware Supreme Court upheld a vice chancellor’s award of $266.7 million in attorney fees to counsel for the lead plaintiff in a complaint brought by investors alleging that Dell Technologies Inc., certain of its controlling stockholders and directors, and its financial adviser breached their fiduciary duty by engaging in a stock swap that resulted in significant losses to investors, holding that the vice chancellor did not abuse his discretion in setting the award....