Vice Chancellor Joseph R. Slights III of the Delaware Court of Chancery has appointed Grant & Eisenhofer as lead counsel in the appraisal of Rouse Properties Inc., turning away a bid from Ashby & Geddes to head a parallel proceeding that Slights said “smacks of free riding.”
Ashby & Geddes, which was representing Rouse investor Brookdale International Partners, had argued for a leadership structure that would have allowed the firm to pursue its own case on behalf of its client. As a part of the proposal, however, Ashby & Geddes refused to pay Grant & Eisenhofer for any common benefit that it delivered to Brookdale.
