O'Malley Ex Rel. Abercrombie & Fitch Co. v. Jeffries

RIDGELY, Justice.

This is an appeal from the Court of Chancery’s order awarding attorneys’ fees in a derivative shareholder action. Appellant sought fees of $1.2 million under a Settlement Agreement. The Court of Chancery awarded $217,799.75. On appeal, Appellant, John O’Malley argues that the Court of Chancery used the wrong legal standard by basing the fee award on the Lodestar method rather than the standard this Court established in Sugarland Indus. v. Thomas. 1 The Appellees have not filed an answering brief. 2 The appeal is being considered on the Court of Chancery record and the…