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STROUGO v. HOLLANDER

C.A. No. 9770-CB.

111 A.3d 590 (2015)

Robert STROUGO, on behalf of himself and all others similarly situated, Plaintiff, v. Aaron P. HOLLANDER, Stanley J. Hill, Joseph J. Lhota, Itsik Maaravi, and First Aviation Services, Inc., Defendants.

Court of Chancery of Delaware.

Date Decided: March 16, 2015.

Attorney(s) appearing for the Case

Sidney S. Liebesman and Lisa Zwally Brown of Montgomery McCracken Walker & Rhoads, LLP, Wilmington, Delaware; Gustavo F. Bruckner and Alla Zayenchik of Pomerantz LLP, New York, New York; Attorneys for Plaintiff.

Francis G.X. Pileggi , Gary W. Lipkin and Aimee M. Czachorowski of Eckert Seamans Cherin & Mellott, LLC; Attorneys for Defendants.

OPINION

I. INTRODUCTION

This action involves determining whether a Delaware corporation's non-reciprocal fee-shifting bylaw (the "Bylaw") applies to a former stockholder's challenge to the fairness of a 10,000-to-1 reverse stock split (the "Reverse Stock Split") that the corporation undertook at the behest of its...

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