Document: In re TD Banknorth Shareholders Litigation, C.A. No. 2557-VCL, Lamb, V.C. (Del. Ch. July 29, 2008)
The Court granted the plaintiffs’ motion for certification as class representatives in a class action brought by former investors who claim that the defendants improperly initiated a transaction in violation of a stockholders agreement. The Court reasoned that the plaintiffs satisfied the adequacy requirement of Court of Chancery Rule 23(a)(4) because both plaintiffs had sufficient knowledge of, and participation in the litigation, and there was no evidence of improper conduct of counsel.