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GENTILE v. SINGLEPOINT FINANCIAL, INC.

No. C.A. 17755.

787 A.2d 102 (2001)

John A. GENTILE, an individual, Plaintiff, v. SINGLEPOINT FINANCIAL, INC., a Delaware Corporation f/k/a Op-TeamaSoft, Inc., Defendant.

Court of Chancery of Delaware, New Castle County.

Decided: January 5, 2001.

Attorney(s) appearing for the Case

John L. Reed (argued), Duane Morris & Heckscher, LLP, Wilmington, Delaware, for Plaintiff.

Jesse A. Finkelstein, Richards, Layton & Finger, P.A., Wilmington, Delaware, and Daniel W. Halston (argued), Sean T. Carnathan, Hale and Dorr, LLP, Boston, Massachusetts, for Defendant.

OPINION

LAMB, Vice Chancellor.

I. INTRODUCTION

John A. Gentile brought this action under § 145(k) of the Delaware General Corporation Law1 ("DGCL") seeking advancement of reasonable attorney's fees, costs, and litigation expenses from SinglePoint Financial, Inc., a Delaware corporation.2 Gentile, a former officer and director of SinglePoint, claims that he is entitled to mandatory advancement...

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