IRONWORKERS DISTRICT COUNCIL OF PHILADELPHIA & VICINITY RETIREMENT & PENSION PLAN v. ANDREOTTI

C.A. No. 9714-VCG.

IRONWORKERS DISTRICT COUNCIL OF PHILADELPHIA & VICINITY RETIREMENT & PENSION PLAN, Plaintiff, v. LAMBERTO ANDREOTTI, BART BAUDLER, JOHN BEDBROOK, SAMUEL W. BODMAN, JAMES BOREL, RICHARD H. BROWN, ROBERT A. BROWN, DENNIS BYRON, BERTRAND P. COLLOMB, THOMAS M. CONNELLY, DANIEL J. COSGROVE, CURTIS J. CRAWFORD, ALEXANDER M. CUTLER, JOHN T. DILLON, ELEUTHERE I. DU PONT, ERIK FYRWALD, MARILLYN A. HEWSON, CHARLES O. HOLLIDAY, ROBERT C. IWIG, DANIEL E. JACOBI, LOIS D. JULIBER, JEFFREY L. KEEFER, ELLEN KULLMAN, MICHAEL LASSNER, TRACY LINBO, CARL J. LUKACH, JUDITH McKAY, WILLIAM NIEBUR, DEAN OESTREICH, WILLIAM K. REILLY, THOMAS L. SAGER, PAUL SCHICKLER, JOHN SOPER, LEE M. THOMAS, PATRICK J. WARD, Defendants, and E. I. DU PONT DE NEMOURS AND COMPANY, Nominal Defendant.

Court of Chancery of Delaware.

Decided May 8, 2015.


Attorney(s) appearing for the Case

Joanne P. Pinckney , Elizabeth Wilburn Joyce , and Seton C. Mangine , of PINCKNEY, WEIDINGER, URBAN & JOYCE LLC, Wilmington, Delaware; OF COUNSEL: John Bradham , Nicholas Brunero , and Peter B. Katzman , of MAZZEO SONG & BRADHAM LLP, New York, New York; Ariana J. Tadler , Kent A. Bronson , and Gloria Kui Melwani , of MILBERG LLP, New York, New York; Jacob A. Goldberg and Alessandra C. Phillips , of COHEN, PLACITELLA & ROTH, PC, Philadelphia, Pennsylvania, Attorneys for Plaintiff Ironworkers District Council of Philadelphia & Vicinity Retirement & Pension Plan.

Lewis H. Lazarus , Joseph R. Slights, III , and Thomas E. Hanson, Jr. , of MORRIS JAMES LLP, Wilmington, Delaware; OF COUNSEL: Evan R. Chesler , of CRAVATH, SWAINE & MOORE LLP, New York, New York, Attorneys for Defendants Ellen Kullman and Thomas L. Sager.

Michael P. Kelly , Andrew S. Dupre , and Daniel J. Brown , of McCARTER & ENGLISH, LLP, Wilmington, Delaware; OF COUNSEL: Donald Scott and Brian C. Swanson , of BARTLIT BECK HERMAN PALENCHAR & SCOTT LLP, Chicago, Illinois, Attorneys for Defendants Bart Baudler, John Bedbrook, James Borel, Dennis Byron, Thomas M. Connelly, Daniel J. Cosgrove, Erik Fyrwald, Robert C. Iwig, Daniel E. Jacobi, Jeffrey L. Keefer, Michael Lassner, Tracy Linbo, Carl J. Lukach, Judith McKay, William Niebur, Dean Oestreich, Paul Schickler, and John Soper.

Kevin G. Abrams , of ABRAMS & BAYLISS LLP, Wilmington, Delaware, Attorneys for Defendants Lamberto Andreotti, Samuel W. Bodman, Richard H. Brown, Robert A. Brown, Bertrand P. Collomb, Curtis J. Crawford, Alexander M. Cutler, John T. Dillon, Eleuthere I. du Pont, Marillyn A. Hewson, Charles O. Holiday, Lois D. Juliber, William K. Reilly, Lee M. Thomas, and Patrick J. Ward; OF COUNSEL: David E. Kendall , Douglas R. Marvin , and Ana C. Reyes , of WILLIAMS & CONNOLLY LLP, Washington, D.C., Attorneys for Defendants Lamberto Andreotti, Richard H. Brown, Robert A. Brown, Bertrand P. Collomb, Curtis J. Crawford, Alexander M. Cutler, Eleuthere I. du Pont, Marillyn A. Hewson, Lois D. Juliber, Lee M. Thomas, and Patrick J. Ward; Charles Bachman and Edward N. Moss , of O'MELVENY & MYERS LLP, New York, New York, Attorneys for Defendants Samuel W. Bodman, John T. Dillon, Charles O. Holliday, and William K. Reilly.

Donald J. Wolfe, Jr. and Michael A. Pittenger , of POTTER ANDERSON CORROON LLP, Wilmington, Delaware; Edward P. Welch , of SKADDEN, ARPS, SLATE, MEAGHER & FLOM LLP, Wilmington, Delaware; OF COUNSEL: Thomas J. Nolan and Allen L. Lanstra , of SKADDEN, ARPS, SLATE, MEAGHER & FLOM LLP, Los Angeles, California, Attorneys for Nominal Defendant E. I. du Pont de Nemours and Company.


MEMORANDUM OPINION

The Plaintiff's Verified Amended Derivative Complaint (the "Complaint") seeks recovery on behalf of E. I. du Pont de Nemours and Company ("DuPont" or the "Company").1 The dispute centers on the attempt by DuPont and its wholly-owned...

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