Chancery OKs $12M Attorney Fee In Versum Merger Suit

Law360 (July 16, 2020, 12:56 PM EDT) -- A Delaware vice chancellor awarded a hefty $12 million fee Thursday to a class attorney team that won removal of poison pill measures that threatened to block Versum Materials Inc. from taking a $1.2 billion higher alternative bid in a 2019 merger.

Vice Chancellor J. Travis Laster, in a nearly hourlong oral ruling immediately after fee arguments, acknowledged the outcome — amounting to a nearly $10,700-per-hour rate — gave him "pause" and was "at the higher end of the range." But the result, he said, partly reflected an "aggressive" position taken by Versum's counsel against any award, or an award beyond...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!