United Vanguard Fund, Inc. v. Takecare, Inc.

OPINION

LAMB, Vice Chancellor.

I. INTRODUCTION

This fee petition is before the Court on remand following the decision of the Delaware Supreme Court reversing an earlier ruling granting the defendants’ motion for summary judgment. The underlying action was brought in January 1994, by the holders of approximately 22% of the common stock of TakeCare Inc. (“TakeCare” or the “Company”), a Delaware corporation, to enjoin the sale of TakeCare to FHP International Corp. (“FHP”) and to compel a “fair auction” of the Company. After the defendants’ actions mooted the lawsuit, the plaintiffs brought this…