Chancery OKs $600K Mootness Fee In Stock Conversion Suit

Law360 (June 16, 2021, 4:07 PM EDT) -- Stockholder attorneys whose Delaware Chancery Court suit headed off inadequate disclosures before a vote on a big investor's gain of voting-eligible shares in global veterinary science company Covetrus Inc. have won a $600,000 "mootness" fee award following corrective, supplemental disclosure.

Vice Chancellor Paul A. Fioravanti, Jr., ruling from the bench late Tuesday, shaved down the fee request from $800,000 but rejected claims in briefs filed by Covetrus that the corporate benefit from the case amounted to no more than $75,000. A court filing noting the decision was docketed early Wednesday.

Attorneys at Grant & Eisenhofer P.A. and Friedman Oster & Tejtel...

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