In Re Wachovia Shareholders Litigation

McCullough, Judge.

Arising from a complex business merger between Wachovia Corporation (“Wachovia”) and First Union Corporation (“First Union”), this appeal raises a single question of law for our consideration. Did the special business court (“business court”) have legal authority to award attorney’s fees to shareholders of Wachovia Corporation (“plaintiffs”) for their lawsuit brought against Wachovia, where the successful product of the lawsuit provided some alleged corporate benefit to fellow shareholders? Our following recitation of the facts is narrowed in scope to address this single…