Court of Chancery Dismisses Derivative Case Against DuPont Board of Directors
On May 8, 2015, Vice Chancellor Glasscock of the Delaware Court of Chancery issued a decision in Ironworkers District Council v. Andreotti, No. 9714-VCG, dismissing a derivative case brought against the board of directors of E.I. du Pont de Nemours and Company (DuPont), as well as a number of DuPont employees. The case followed the denial of a shareholder demand, which the board rejected on the basis of an investigation conducted by an Evaluation Committee of the board. The investigation explored six sets of distinct claims spanning a 10-year period. The investigation and the resulting 179-page report were thoroughly discussed and analyzed in the opinion, with the court holding that the plaintiffs had not raised a reasonable doubt as to the good faith and reasonableness of the "unusually detailed investigation and resulting Report by the Committee."
Wilson Sonsini Goodrich & Rosati represented the Evaluation Committee in its investigation, with a team made up of Bill Chandler, Katherine Henderson, Tamika Montgomery-Reeves, John Roberts, Ian Liston, Chrissy Fillip, Evan Seite, Anthony DeNatale, and Moira Rueda.