Diep v. Trimaran Pollo Partners, L.L.C.

Summary

The Supreme Court of Delaware affirmed dismissal of a derivative action based on a special litigation committee's recommendation under the two-step Zapata framework. The Court held that the committee established its independence, conducted a good-faith and reasonable investigation, and had reasonable bases for concluding that the remaining insider-trading claim against TPP should not proceed; the Court of Chancery also acted within its discretion in applying Zapata's second step. No separate opinion is included in the record provided.