CA RETIREMENT V. ALVAREZ

Issue: Securities
Court: Supreme Court of Delaware

RLC's Position: 
The Retail Litigation Center joined the U.S. Chamber of Commerce’s amicus brief on an important shareholder litigation issue that is before the Delaware Supreme Court. Specifically, Chamber and RLC amici brief ask the court to recognize the longstanding rule that collateral estoppel governs successive cases once a court has issued a final judgment on the issue of demand futility.

Case Outcome: 
The court rejected the Chancery Court’s suggestion that the court should follow EZCORP (which raised Due Process issues) and instead held that finding issue preclusion here does not violate the Plaintiffs’ Due Process rights. The Court ultimately affirmed the original court’s dismissal of the case. 

Procedural History and Case Documents

• Opinion issued, January 2018

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