Delaware Court Of Chancery Grants Plaintiff Attorneys' Fees Award Under Corporate Benefit Doctrine For Demand To SPAC Board Leading To Adjusted Voting Structure In Connection With Merger
Shearman & Sterling
JANUARY 18, 2023
On December 27, 2022, Vice Chancellor Morgan T. Zurn of the Delaware Court of Chancery substantially granted plaintiff's motion for summary judgment in an action seeking attorneys' fees. Garfield v. Boxed, Inc., No. 2022-0132-MTZ (Del. Ch. Dec. 27, 2022). Plaintiff, a stockholder of defendant Seven Oaks Acquisition Corp., a special purpose acquisition company (the "SPAC"), made a demand on the board challenging the structure of stockholder votes on proposed charter amendments r
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