GRIFFITH v. STEIN EX REL. GOLDMAN SACHS GROUP, INC.

No. 264, 2021.

283 A.3d 1124 (2022)

Sean J. GRIFFITH, Objector Below, Appellant, v. Shiva STEIN, derivatively ON BEHALF OF The GOLDMAN SACHS GROUP, INC., and individually as a stockholder of The Goldman Sachs Group, Inc., Plaintiff Below, Appellee, and Lloyd C. Blankfein, M. Michele Burns, Gary D. Cohn, Mark A. Flaherty, William W. George, James A. Johnson, Ellen J. Kullman, Lakshmi N. Mittal, Adebayo O. Ogunlesi, Peter Oppenheimer, Debora L. Spar, Mark E. Tucker, David A. Viniar, Mark O. Winkelman, and the Goldman Sachs Group, Inc. Defendants Below, Appellees.

Supreme Court of Delaware.

Decided: August 16, 2022.


Attorney(s) appearing for the Case

Anthony A. Rickey, Esquire (argued), MARGRAVE LAW LLC, Wilmington Delaware, Raffi Melkonian, Esquire , WRIGHT CLOSE & BARGER, LLP, Houston, Texas, for Objector Below, Appellant Sean J. Griffith.

Brian E. Farnan, Esquire , Michael J. Farnan, Esquire , Rosemary J. Piergiovanni, Esquire , FARNAN LLP, Wilmington, Delaware, A. Arnold Gershon, Esquire (argued), Michael A. Toomey, Esquire , BARRACK, RODOS & BACINE, New York, New York, for Plaintiff Below, Appellee Shiva Stein.

Kevin G. Abrams, Esquire , J. Peter Shindel, Jr., Esquire , Matthew L. Miller, Esquire , ABRAMS & BAYLISS LLP, Wilmington, Delaware, Robert J. Giuffra, Jr., Esquire (argued), David M.J. Rein, Esquire , SULLIVAN & CROMWELL LLP, New York, New York, for Defendants Below, Appellees Lloyd C. Blankein, M. Michele Burns, Gary D. Cohn, Mark A. Flaherty, William W. George, James A. Johnson, Ellen J. Kullman, Lakshmi N. Mittal, Adebayo O. Ogunlesi, Peter Oppenheimer, Debora L. Spar, Mark E. Tucker, David A. Viniar, and Mark O. Winkleman.

Kevin M. Gallagher, Esquire , RICHARDS, LAYTON & FINGER, P.A., Wilmington, Delaware, for Nominal Defendant Below, Appellee The Goldman Sachs Group, Inc.

Before SEITZ, Chief Justice; VALIHURA, VAUGHN, TRAYNOR, and MONTGOMERY-REEVES, Justices, constituting the Court en Banc.


Before us is an objector's appeal from a Court of Chancery decision approving a litigation settlement for claims alleging excessive non-employee director compensation. Initially, the parties agreed to a preliminary settlement and presented it to the Court of Chancery for approval. The Court of Chancery sided with the objector...

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