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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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