Del. R. Ch. Ct. 23.1
Comment To Revisions Effective as of June 14, 2024
In 2024, Rule 23.1(d)(1) was amended after revisions to Rule 15. The revisions to Rule 15 had renumbered prior Rule 15(aaa) as Rule 15(a)(5). The amendment to Rule 23.1(d)(1) updated the cross reference.
Comment to Revisions Effective as of September 25, 2023
In 2023, Rule 23.1 was revised to align its language in certain respects with Federal Rule 23.1 so that authorities interpreting the federal rule could be cited more easily as persuasive authority for the interpretation of Rule 23.1. The revision added elements modeled on current practice and on Federal Rule 23.
Except as noted, no substantive change in the interpretation of Rule 23.1 or the law governing derivative actions is intended. Prior Delaware authorities interpreting the rule and the law governing derivative actions remain applicable.
The revision replaces the term "compromise" with "settlement." The revision applies to all entities with a separate legal existence and to any derivative plaintiff.
The revision specifies requirements for notice of a proposed dismissal or settlement.
The revision requires Court approval for any payment or other consideration provided in connection with the forgoing or withdrawal of an objection.