Potter Anderson Secures Chancery Court Win for Blue Bell Creameries
Potter Anderson represented ice cream manufacturer Blue Bell Creameries in a stockholder derivative suit in the Delaware Court of Chancery related to a 2015 recall of its ice cream products. Plaintiff, a stockholder of Blue Bell Creameries U.S.A., Inc., asserted derivative claims against two corporate officers and the board of directors for breach of fiduciary duty based on an alleged failure to oversee or monitor corporate affairs (i.e., Caremark claims). On September 27, Vice Chancellor Joseph Slights dismissed the derivative suit in its entirety after finding that plaintiff failed to plead particularized facts that any of the directors breached their fiduciary duty of oversight or that a majority of the board of directors could not impartially consider a demand to bring claims against the corporate officers.
Potter Anderson partner Tim Dudderar and associate Travis Dunkelberger represented Blue Bell Creameries U.S.A., Inc. and its directors.
News of the decision was reported by Law360.
Lauren Kornsey, Senior Manager, Marketing and Business Development
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Potter Anderson & Corroon LLP is one of the largest and most highly regarded Delaware law firms, providing legal services to regional, national, and international clients. With more than 90 attorneys, the firm’s practice is centered on corporate law, corporate litigation, intellectual property, commercial litigation, bankruptcy, labor and employment, and real estate.