Gilead Sciences Inc. sign at headquarters in Silicon Valley. McCormick's Fee Shifting Decision Sends Cautionary Signal to Corporations' Counsel
An order requiring a pharmaceutical company to pay $1.7 million of its foes' legal fees is the first to hold a corporate defendant financially liable for the cost of Section 220 litigation. Lawyers are wondering if the ruling could be applied in other types of corporate litigation.
August 03, 2021 at 05:59 PM
3 minute read
A fee-shifting order in the Gilead Sciences Inc. case doesn't change Delaware's Section 220 law—which governs how and when corporate books and records must be subject to inspection—but it's the latest Chancery Court pronouncement that is part of a gradual definition of hazy boundaries in a form of litigation that's become increasingly prevalent.
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