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IN RE ABERCROMBIE & FITCH CO. SHAREHOLDERS

No. 282,2005.

886 A.2d 1271 (2005)

In re ABERCROMBIE & FITCH CO. SHAREHOLDERS DERIVATIVE LITIGATION: John O'Malley, Derivatively on Behalf of Nominal Defendant Abercrombie & Fitch Co., Plaintiff Below, Appellant, v. Michael S. Jeffries, Seth R. Johnson, John W. Kessler, Archie M. Griffin, Russell M. Gertmenian, Samuel N. Shahid, Jr., John A. Golden, Edward F. Limato, James B. Bachmann and Lauren J. Brisky, Defendants Below, Appellees, and Abercrombie & Fitch Co., Nominal Defendant Below, Appellee.

Supreme Court of Delaware.

Decided: October 26, 2005.

Attorney(s) appearing for the Case

Michael Hanrahan, and Gary F. Traynor, Esquires, of Prickett, Jones & Elliott, P.A., Wilmington, for appellant.

Lisa A. Schmidt, Esquire, of Richards, Layton & Finger, Wilmington, Delaware and Andre G. Bouchard, Esquire, of Bouchard, Margules & Friedlander, of Wilmington, for appellees.

Before STEELE, Chief Justice, JACOBS, and RIDGELY, Justices.

RIDGELY, Justice.

This is an appeal from the Court of Chancery's order awarding attorneys' fees in a derivative shareholder action. Appellant sought fees of $1.2 million under a Settlement Agreement. The Court of Chancery awarded $217,799.75. On appeal, Appellant, John O'Malley argues that the Court of Chancery used the wrong legal standard by basing the fee award on the Lodestar method rather than the standard this Court...

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