A private equity investor in Dell Technologies Inc. is contesting a Chancery Court’s significant $266.7 million attorney fee award. This record-setting fee was granted to the class counsel in recognition of their efforts securing a substantial $1 billion settlement for stockholders. The litigation stems from a contentious $23.9 billion stock swap that transpired in 2018 and attracted an onslaught of lawsuits from the disgruntled shareholders.
The challenging investor, Pentwater, is dissatisfied with the attorney fee award and has decided to lodge an appeal. The grounds of their appeal and their proposed solutions to this dispute are yet to be disclosed.
Follow the updates on this story from Law360 to stay in the loop as this legal battle continues to unfold. Remember, an informed attorney is a proactive attorney.