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December 30, 2020

30 December 2020

“New” Special Committee May Not Dismiss Case Brought by “Old” Special Committee

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The Court of Chancery recently rejected a special committee’s motion to dismiss a case that had been commenced on the company’s behalf by a prior special committee. The decision clarifies the standard applicable to the unusual dueling-committee circumstances and offers several reminders of the rigorous assessment applicable to a board committee’s request to terminate litigation filed on the company’s behalf. (more…)