Rock Holdings Prevails in Chancery Derivative Suit

06.04.2025
Firm News

On Monday, June 2, 2025, the Delaware Court of Chancery ruled in favor of Morris Nichols client Rock Holdings Inc. (RHI), dismissing a stockholder derivative action asserting a “Brophy”/insider trading claim.  The court found that plaintiffs failed to meet the burden of proof required to prove a Brophy claim.  The Morris Nichols team of Bill Lafferty and Ryan Stottmann worked together with co-counsel Sullivan & Cromwell to achieve this positive result for RHI following a three-day trial in May 2024.

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