Opinion ID: 1952721
Heading Depth: 1
Heading Rank: 4

Heading: Standing Decision

Text: In Appeal No. 605, 2002 (the Omnicare appeal) the Court of Chancery entered two orders. The first decision and order (the Standing Decision), dated October 25, 2002, dismissed Omnicare's fiduciary duty claims because it lacked standing to assert those claims. The Court of Chancery refused to dismiss Omnicare's declaratory judgment claim, holding that Omnicare had standing, notwithstanding the timing of its purchase of NCS stock to assert its claim, as a bona fide bidder for control, that the NCS charter should be interpreted to cause an automatic conversion of Outcalt's and Shaw's Class B stock (with ten votes per share) to Class A stock (with one vote per share).