Lenois v. Lawal

Summary

The Court dismissed the appeal as moot because the parties agreed that the demand-futility issue was no longer live after the corporation's bankruptcy. It declined to vacate the Court of Chancery's dismissal because no other litigation would be precluded by that judgment and the Trustee's ability to pursue the claims was a separate issue for the Court of Chancery to decide. The dismissal returned jurisdiction to the Court of Chancery for consideration of the Trustee's pending motions.