Tandycrafts, Inc. v. Initio Partners
Supreme Court of Delaware
562 A.2d 1162 (Del. 1989)
Relevant factsFree
Shareholder Initio (plaintiff) sued Tandycrafts (defendant) individually, objecting to a proxy statement describing a proposed charter amendment, and Tandycrafts amended the statement to address Initio's objections before Initio sought attorneys' fees; Tandycrafts argued the changes would have happened regardless and that individual (non-derivative) suits could not support a fee award, but the trial court awarded fees to Initio.
IssueFree
Whether a shareholder plaintiff bringing suit against a corporation must bring a shareholder derivative or class action suit to be awarded attorney's fees.
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