Two attorney teams clashed in a Delaware Court of Chancery counsel-selection hearing on Thursday regarding a derivative damages suit against Fox Corp. directors and officers. This suit was initiated following the company’s $787.5 million defamation suit settlement earlier this year. The hearing served as a platform for attorneys to argue their cases and present their proposals for counsel selection.
During the hearing, both attorney teams engaged in a polite yet intense exchange of arguments. The attorneys representing the plaintiffs emphasized the need for independent counsel, citing concerns over potential conflicts of interest that may arise if the same counsel represents both the defendants and Fox Corp. The plaintiffs’ attorneys argued that independent counsel would be better suited to protect the interests of the shareholders.
On the other hand, the attorneys representing Fox Corp. directors and officers argued for the appointment of a single counsel to represent all parties involved. They contended that this approach would ensure efficiency and consistency throughout the litigation process. Furthermore, they asserted that the interests of the defendants align with those of Fox Corp., and therefore, a single counsel would adequately represent their collective interests.
The Delaware Court of Chancery heard these arguments and will now assess the proposals put forth by each attorney team. The court’s decision on counsel selection will have significant implications for the ongoing derivative damages suit against Fox Corp. directors and officers.
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Original Story at www.law360.com – 2023-11-10 00:57:00