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  • Daniel v. Hawkins

    Publication Date: 2023-01-31
    Practice Area: Corporate Governance
    Industry: Distribution and Wholesale | Pharmaceuticals
    Court: Delaware Supreme Court
    Judge: Justice Valihura
    Attorneys: For plaintiff: David Teklits, Sara Barry, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Jeffrey Alan Simes, Goodwin Proctor, LLP, New York, NY for appellants.
    for defendant: Richard I.G. Jones, John G. Harris, Berger Harris LLP, Wilmington, DE for appellees.
    Case Number: 184, 2022

    The court affirmed the trial court's ruling that an irrevocable proxy did not run with majority shares and dismissed appellant's arguments that the court improperly relied on "extrinsic" evidence contained in the proxy's addendum as well as the Third Restatement, finding that the addendum fell within the proxy's four corners and that the law cited from the Third Restatement accurately reflected the same legal principles that were in place at the time the proxy was established.