In Re Revlon, Inc. Shareholders Litigation

OPINION

LASTER, Vice Chancellor.

After filing two additional representative actions challenging a transaction that already was the subject of this proceeding, the new plaintiffs and their counsel asked me to revisit the leadership structure governing the various law firms representing the putative class. Having reviewed the record in the case to date, I conclude that the original plaintiffs’ counsel failed to litigate the case adequately. Indeed, their advocacy has been non-existent. The memorandum of understanding to which they agreed raises serious questions about whether they focused…