David PYOTT, Herbert W. Boyer, Louis J. Lavigne, Gavin S. Herbert, Stephen J. Ryan, Leonard D. Schaeffer, Michael R. Gallagher, Robert Alexander Ingram, Trevor M. Jones, Dawn E. Hudson, Russell T. Ray, Deborah Dunsire, and Allergan, Inc., Defendants Below, Appellants,
v.
LOUISIANA MUNICIPAL POLICE EMPLOYEES' RETIREMENT SYSTEM and U.F.C.W. Local 1776 & Participating Employers Pension Fund, Plaintiffs Below, Appellees.
Supreme Court of Delaware.https://leagle.com/images/logo.png
Submitted: February 5, 2013.
Decided: April 4, 2013.
Attorney(s) appearing for the Case
Kenneth J. Nachbar, Esquire and Shannon E. German, Esquire , Morris, Nichols, Arsht & Tunnell LLP, Wilmington, Delaware for Appellants David Pyott, Herbert W. Boyer, Louis J. Lavigne., Gavin S. Herbert, Stephen J. Ryan, Leonard D. Schaeffer, Michael R. Gallagher, Robert Alexander Ingram, Trevor M. Jones, Dawn E. Hudson, Russell T. Ray and Deborah Dunsire.
Before STEELE, Chief Justice, HOLLAND, BERGER, JACOBS and RIDGELY, Justices, constituting the Court en Banc.
Supreme Court of Delaware.
BERGER, Justice:
In this appeal we consider whether the Court of Chancery was required to dismiss a Delaware derivative complaint after a California federal court entered a final judgment dismissing essentially the same complaint brought by different stockholders. The trial court held that it was not required to give preclusive effect to the California judgment for two reasons. First, the Court of Chancery held, as a matter of Delaware law, that the stockholder plaintiffs...
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