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Del. Chief Justice Calls $428M Williams Suit An Investor Game

Law360, Wilmington (December 6, 2017, 8:28 PM EST) -- Delaware’s Chief Justice pressed a stockholder attorney Wednesday to justify what he termed litigation “games” that led to filing of near-clone direct and derivative lawsuits seeking damages for a $428 million payout by The Williams Cos. after abandoning a merger in 2015.

Vice Chancellor Leo E. Strine Jr.’s challenges emerged early in Supreme Court arguments by Michael J. Barry of Grant & Eisenhofer PA for resurrection of a derivative case dismissed by Chancery Court in May. The suit alleged that Williams directors pursued but later abandoned...
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