Novell Asks Del. Supremes To Nix Entire Shareholder Suit

Law360, Wilmington (January 15, 2013, 9:42 PM EST) -- Directors of information technology company Novell Inc. on Tuesday challenged a ruling that trimmed a putative class action over its $2.2 billion sale, saying a proper application of Delaware corporate law would have snuffed the shareholder suit in its entirety.

The directors contend Vice Chancellor John W. Noble of the Delaware Chancery Court erred Jan. 3 in letting a bad -faith claim proceed, denying Novell board members the protection afforded under the “business judgment” rule, according to their application for an interlocutory appeal to the state's...
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