Del. Chancery Approves Expedia Settlement, $6.5M Fee Award

By Leslie Pappas (January 19, 2022, 7:55 PM EST) -- A Delaware Chancery Court judge on Wednesday approved a settlement resolving a derivative stockholder suit that claimed Expedia Group Inc.'s $2.6 billion acquisition of Liberty Expedia Holdings Inc. was unfairly structured to benefit Expedia Chairman Barry Diller and his family.

Vice Chancellor J. Travis Laster approved the settlement at a virtual hearing, along with class certification and a $6.5 million fee award for the shareholders' counsel, led by Labaton Sucharow LLP, Bernstein Litowitz Berger & Grossmann LLP and Friedlander & Gorris PA.

There is "no money exchanging hands as part of this settlement," and the real consideration "is a set of...

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